According to study, the wireline trucks market is expected to increase multi- fold during 2021 to 2031, reflecting a CAGR of 2%- 4% over the forecast period. Demand for Wireline Trucks will witness moderate growth due to increasing use in oil & gas industry.
This truck carries the wireline cable equipment and also wireline facilities used to record data from seismic and ultrasonic equipment. Increasing demand of wireline trucks for different end-use industries like mining, oil & gas industry is accelerating the growth of the market in the forecasted period.
What is Driving Demand for Wireline Trucks?
Many manufacturers are introducing new and advanced types of wireline trucks which are designed to save time, money and the environment. These advanced trucks provides digital recording of data which can be easily accessed and also these trucks emit less carbon in the environment which has an impact on the overall ecosystem. These are some of the factors driving the market.
Over the forecast period, the market is likely to grow because of increase in innovation in designs and use of lightweight and durable materials for the trucks. Many companies that provide these trucks to end users also provide repair & maintenance services which is accelerating the growth for the market.
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Automotive Recovery Likely to Augment Wireline Trucks Sales
COVID-19 has had a huge impact on the global sales of vehicles. Production of vehicles declined in 2020 as the manufacturing facilities were closed due to lockdown. The market for wirelines trucks also witnessed a downfall due to decline in demand for these vehicles. But the market is slowly recovering from the losses of pandemic and the automotive sales are most likely to rebound in many countries in few years.
Diesel fuel engine is generally used in these trucks, but manufacturers have also switched to electric powered engines due to increase in carbon emissions from the trucks and also carbon emission regulations in many countries. These trucks are used on a large scale in the oil & gas industry which is a major factor for the growth of the market.
US and Canada Wireline Trucks Market Outlook
US is one of the largest markets for Wireline Trucks globally. There are many manufacturers who are distributors as well as suppliers for these wireline trucks to different customers. These manufacturers also provide repair & replacement parts for these trucks which has boosted the aftermarket sales as well. Manufacturers in the US offer customized trucks to the customers which is a major factor driving the growth of the market in the region.
The companies are also launching products which uses rechargeable lithium ion battery as these trucks operate on electric power which will reduce the carbon footprint. Many manufacturers provide operator comfort for the driver and have features like heated seat and heated reclining backrest, wide range of LED lightings and laminated solar glass which is accelerating the demand for these trucks in the US market.
Asia Pacific Demand Outlook for Wireline Trucks Market
Many countries in Asia Pacific region have been severely impacted by the COVID-19 crisis, which has led to a decline in economic activities but the market is recovering in 2021. The increase in oil & gas sector in some countries has boosted the market in Asia Pacific region.
Many major manufacturers supply trucks to countries in Asia Pacific like China and India where the demand for these vehicles is slowly increasing. The aftermarket for wireline parts is also high due to increase in availability of parts on E- commerce websites which is also an important factor driving the market.
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Who are the Key Manufacturers and Suppliers of Wireline Trucks?
Some of the leading manufacturers and suppliers of Wireline Trucks include
- Synergy Industries
- BenchMark Wireline
- Turnkey Industries
- Lee Specialties
- General Truck Body
- Wireline Truck Fab
- Delve International and others.
Many leading manufacturers are customizing these trucks to provide great customer experience along with interiors and also provide warranty for the truck bodies. Manufacturers are partnering with start- ups to increase their customer base in the market.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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- E- Line Trucks
- Slickline Trucks
- Open Hole
- Cased Hole
Wireline Trucks Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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