5.6.12.2Vertical

Coiled Tubing & Wireline Equipment

Producers of coiled tubing units, wireline trucks, and intervention equipment.

Market snapshot

These figures describe Oil & Gas Field Equipment (5.6.12), the segment that Coiled Tubing & Wireline Equipment sits within. They are not figures for Coiled Tubing & Wireline Equipment on its own.

Market size
~$12B
Growth
~-1.4%CAGR (2017–22, nominal)
Companies
~508 firms
Firms by employee count

57.7% of firms have fewer than 20 employees: 293 micro-businesses, below most mandates.

The investable universe215 firms with 20+ employees
20–99
13261%
100–499
4320%
500+
4019%

Shrank over a period when oil prices roughly doubled, which is the whole story of post-2015 shale: operators held capital discipline, drilled fewer wells, and equipment demand never recovered with the commodity. Do not underwrite this segment off the oil price.

NAICS 333132. U.S. Census Bureau, 2022 Statistics of U.S. Businesses; U.S. Census Bureau, 2022 Economic Census.

Business model & economics

Revenue model

Oilfield-equipment sales plus aftermarket and services

Key economics

Revenue per firm
$23,405,957
Revenue per employee
$401,128
Employees per firm
58.9
Recurring revenue
Moderate

recurring service and replacement

EBITDA margin
Highly cyclical with drilling activity
Capex intensity
High

Characteristics

  • Scale-driven: payroll is only 19% of revenue, so the cost base is assets, not headcount
  • Moderate strategic-buyer pool: 40 firms exceed 500 employees, so a scaled asset has buyers, but not many
  • Consolidated around SLB, Halliburton, Baker Hughes, NOV.
  • Highly cyclical with oil/gas prices and drilling.
  • Navigating the long-term energy transition.

NAICS 333132. U.S. Census Bureau, 2022 Statistics of U.S. Businesses; U.S. Census Bureau, 2022 Economic Census.

Geographic concentration

AlabamaAlaskaArizonaColoradoFloridaGeorgiaIndianaKansasMaineMassachusettsMinnesotaNew JerseyNorth CarolinaNorth DakotaPennsylvaniaSouth DakotaWyomingConnecticutMissouriWest VirginiaIllinoisNew MexicoArkansasCaliforniaDelawareDistrict of ColumbiaHawaiiIowaKentuckyMarylandMichiganMississippiMontanaNew HampshireNew YorkOhioOregonTennesseeUtahVirginiaWashingtonWisconsinNebraskaSouth CarolinaIdahoNevadaVermontRhode IslandOklahomaTexasLouisiana

The most geographically decisive segment here: Oklahoma and Louisiana carry roughly ten times national concentration and Texas seven, because field equipment is built at the basin it serves.

OklahomaLouisianaTexas

U.S. Census Bureau, 2022 Statistics of U.S. Businesses (firms by state), NAICS 333132. Concentration shown by location quotient.

M&A deal context

Deal activityModerate

Who’s acquiring

  • Oilfield-equipment majors
  • Energy-transition diversifiers
  • PE-backed energy-services platforms

What’s driving deals

  • Energy-capex and drilling cycles.
  • Diversification into energy transition.
  • Consolidation and cost discipline.

Find Coiled Tubing & Wireline Equipment acquisition targets

Search Acquisera’s index for companies classified under Coiled Tubing & Wireline Equipment (5.6.12.2) and build a targeted deal pipeline.

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