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Water Well Drilling Rig Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028

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  • 175 Pages
  • September 2023
  • Region: Global
  • TechSci Research
  • ID: 5877739
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Global Water Well Drilling Rig Market is anticipated to grow at a robust pace in the forecast period 2022-2028

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The Global Water Well Drilling Rig Market is anticipated to grow at a robust pace in the forecast period 2022-2028. The primary factors for the expanding water well drilling rig market are the increase in drilling operations and rising demand for water exploration projects. Cool and clear water is valuable, and life depends on it. The water that dwells underground is the cleanest on earth. No other source of fresh water is as copious either. Groundwater makes up more than 97% of the planet's liquid freshwater. Drillers of modern water wells serve as both providers and defenders of the country's groundwater resources. To access various groundwater formations, several drilling techniques are employed.

Rising Drilling Operations & Need for Water Exploration

The expanding infrastructure investment and encouraging mining exploration projects present water well drilling rigs with attractive growth prospects. These elements boost the market's demand for water well drilling rigs within the anticipated time frame. Water jets are used in coal mining to dismantle coal scams and remove sediments from the frauds. Around 250 liters of fresh water are required for every ton of coal produced.

For instance, India has 344.02 billion tons of total coal resources. India's commercial primary energy consumption has increased by 700% over the last forty years. Expanding economies, growing populations, and improving quality of life are the leading causes of the rise in energy consumption. To support ongoing and future coal mine operations, the government wants to integrate new technologies and expand digital infrastructure, which will lessen the nation's import dependence, due to which the market is expected to rise.

People continue digging wells in several locations worldwide, as they have done for countless ages. Additionally, water wells are bored or driven. However, the advancement of contemporary water well drilling has led to the practical significance of groundwater in the current world.

Adoption of the Latest Tools and Technologies is Driving the Market

The important competitive analysis variables that fuel the need for water well drilling rigs over the forecast period include securing more drilling contracts, growing present business, and implementing divergent company strategies to expand the market.

After a challenging 2020, the rebound in oil and gas demand benefits drilling activities. A 12% rise from 2020 levels, Rystad Energy anticipated that 54,000 wells will be drilled globally in 2021. Drilling will likely rise much further in 2022. As the world is moving towards drilling operations, the global water well drilling rig market is anticipated to grow in the forecast period.

Nowadays, drillers are using latest technologies and tools to enhance water exploration worldwide, due to which well logging is a method used for survey of underground water in water wells. Mapping is used for water well design and construction, hence as new technologies are coming up in the market, Global Water Well Drilling Rig Market is anticipated to grow with a high CAGR in 2023-2028.

High Cost of Drilling Equipment

However, rocky terrain requires a tricky drill bit, with more equipment costs and maintenance expenses. As a result, water well drilling rigs face challenges in the anticipated time frame.

Market Segmentation

The Global Water Well Drilling Rig Market is segmented into drilling method, drilling technology, end-use. Based on drilling method, market is segmented into rotary drill, Cable tool Drill, down the hole drill, others. Based on drilling technology, market is segmented into horizontal directional drilling and vertical drilling. Based on end-use, market is segmented into oil & gas, irrigation, mining, and others.

Market Players

The main market players in the Global Water Well Drilling Rig Market are Simco Drilling Equipment, Inc. Massenza Drilling Rigs, Epiroc, Lone Star Drills, Fraste S.p.A., Sunmoy Technology Co., Ltd., Dando Drilling International, PRD Rigs, Hardab, Koken Boring Machine Co., Ltd., Drillmec, and Caster Drilling Enterprises.

Report Scope

In this report, Global Water Well Drilling Rig Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Water Well Drilling Rig Market, by Drill Method:

  • Rotary Drill
  • Down the Hole Drill
  • Cable Tool Drill
  • Others

Water Well Drilling Rig Market, by Drilling Technology:

  • Horizontal Directional Drilling
  • Vertical Drilling

Water Well Drilling Rig Market, by End-use:

  • Oil & Gas
  • Irrigation
  • Mining
  • Others

Water Well Drilling Rig Market, by Region:

  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East and Africa

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Water Well Drilling Rig Market.

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Table of Contents

1. Product Overview2. Research Methodology3. Impact of COVID-19 Global Water Well Drilling Rig Market4. Executive Summary5. Voice of Customers
6. Global Water Well Drilling Rig Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Drilling Method (Rotary Drill, Cable tool Drill, Down the Hole Drill, and Others)
6.2.2. By Drilling Technology (Horizontal Directional Drilling and Vertical Drilling)
6.2.3. By End-Use (Oil & Gas, Irrigation, Mining and Others)
6.2.4. By Region
6.2.5. By Company
6.3. Market Map
7. North America Water Well Drilling Rig Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Drilling Method
7.2.2. By Drilling Technology
7.2.3. By End-Use
7.2.4. By Country
7.3. North America: Country Analysis
7.3.1. United States Water Well Drilling Rig Market Outlook
7.3.1.1. Market Size & Forecast
7.3.1.1.1. By Value
7.3.1.2. Market Share & Forecast
7.3.1.2.1. By Drilling Method
7.3.1.2.2. By Drilling Technology
7.3.1.2.3. By End-User
7.3.2. Canada Water Well Drilling Rig Market Outlook
7.3.2.1. Market Size & Forecast
7.3.2.1.1. By Value
7.3.2.2. Market Share & Forecast
7.3.2.2.1. By Drilling Method
7.3.2.2.2. By Drilling Technology
7.3.2.2.3. By End-User
7.3.3. Mexico Water Well Drilling Rig Market Outlook
7.3.3.1. Market Size & Forecast
7.3.3.1.1. By Value
7.3.3.2. Market Share & Forecast
7.3.3.2.1. By Drilling Method
7.3.3.2.2. By Drilling Technology
7.3.3.2.3. By End-User
8. Asia-Pacific Water Well Drilling Rig Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Drilling Method
8.2.2. By Drilling Technology
8.2.3. By End-Use
8.2.4. By Country
8.3. Asia-Pacific: Country Analysis
8.3.1. China Water Well Drilling Rig Market Outlook
8.3.1.1. Market Size & Forecast
8.3.1.1.1. By Value
8.3.1.2. Market Share & Forecast
8.3.1.2.1. By Drilling Method
8.3.1.2.2. By Drilling Technology
8.3.1.2.3. By End-User
8.3.2. India Water Well Drilling Rig Market Outlook
8.3.2.1. Market Size & Forecast
8.3.2.1.1. By Value
8.3.2.2. Market Share & Forecast
8.3.2.2.1. By Drilling Method
8.3.2.2.2. By Drilling Technology
8.3.2.2.3. By End-User
8.3.3. Japan Water Well Drilling Rig Market Outlook
8.3.3.1. Market Size & Forecast
8.3.3.1.1. By Value
8.3.3.2. Market Share & Forecast
8.3.3.2.1. By Drilling Method
8.3.3.2.2. By Drilling Technology
8.3.3.2.3. By End-User
8.3.4. Australia Water Well Drilling Rig Market Outlook
8.3.4.1. Market Size & Forecast
8.3.4.1.1. By Value
8.3.4.2. Market Share & Forecast
8.3.4.2.1. By Drilling Method
8.3.4.2.2. By Drilling Technology
8.3.4.2.3. By End-User
9. South America Water Well Drilling Rig Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value
9.2. Market Share & Forecast
9.2.1. By Drilling Method
9.2.2. By Drilling Technology
9.2.3. By End-Use
9.2.4. By Country
9.3. South America: Country Analysis
9.3.1. Brazil Water Well Drilling Rig Market Outlook
9.3.1.1. Market Size & Forecast
9.3.1.1.1. By Value
9.3.1.2. Market Share & Forecast
9.3.1.2.1. By Drilling Method
9.3.1.2.2. By Drilling Technology
9.3.1.2.3. By End-User
10. Europe Water Well Drilling Rig Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value
10.2. Market Share & Forecast
10.2.1. By Drilling Method
10.2.2. By Drilling Technology
10.2.3. By End-Use
10.2.4. By Country
10.3. Europe: Country Analysis
10.3.1. Germany Water Well Drilling Rig Market Outlook
10.3.1.1. Market Size & Forecast
10.3.1.1.1. By Value
10.3.1.2. Market Share & Forecast
10.3.1.2.1. By Drilling Method
10.3.1.2.2. By Drilling Technology
10.3.1.2.3. By End-User
10.3.2. United Kingdom Water Well Drilling Rig Market Outlook
10.3.2.1. Market Size & Forecast
10.3.2.1.1. By Value
10.3.2.2. Market Share & Forecast
10.3.2.2.1. By Drilling Method
10.3.2.2.2. By Drilling Technology
10.3.2.2.3. By End-User
10.3.3. France Water Well Drilling Rig Market Outlook
10.3.3.1. Market Size & Forecast
10.3.3.1.1. By Value
10.3.3.2. Market Share & Forecast
10.3.3.2.1. By Drilling Method
10.3.3.2.2. By Drilling Technology
10.3.3.2.3. By End-User
10.3.4. Spain Water Well Drilling Rig Market Outlook
10.3.4.1. Market Size & Forecast
10.3.4.1.1. By Value
10.3.4.2. Market Share & Forecast
10.3.4.2.1. By Drilling Method
10.3.4.2.2. By Drilling Technology
10.3.4.2.3. By End-User
10.3.5. Italy Water Well Drilling Rig Market Outlook
10.3.5.1. Market Size & Forecast
10.3.5.1.1. By Value
10.3.5.2. Market Share & Forecast
10.3.5.2.1. By Drilling Method
10.3.5.2.2. By Drilling Technology
10.3.5.2.3. By End-User
10.3.6. Russia Water Well Drilling Rig Market Outlook
10.3.6.1. Market Size & Forecast
10.3.6.1.1. By Value
10.3.6.2. Market Share & Forecast
10.3.6.2.1. By Drilling Method
10.3.6.2.2. By Drilling Technology
10.3.6.2.3. By End-User
11. Middle East & Africa Water Well Drilling Rig Market Outlook
11.1. Market Size & Forecast
11.1.1. By Value
11.2. Market Share & Forecast
11.2.1. By Drilling Method
11.2.2. By Drilling Technology
11.2.3. By End-Use
11.2.4. By Country
11.3. Middle East & Africa: Country Analysis
11.3.1. Saudi Arabia Water Well Drilling Rig Market Outlook
11.3.1.1. Market Size & Forecast
11.3.1.1.1. By Value
11.3.1.2. Market Share & Forecast
11.3.1.2.1. By Drilling Method
11.3.1.2.2. By Drilling Technology
11.3.1.2.3. By End-User
11.3.2. South Africa Water Well Drilling Rig Market Outlook
11.3.2.1. Market Size & Forecast
11.3.2.1.1. By Value
11.3.2.2. Market Share & Forecast
11.3.2.2.1. By Drilling Method
11.3.2.2.2. By Drilling Technology
11.3.2.2.3. By End-User
11.3.3. UAE Water Well Drilling Rig Market Outlook
11.3.3.1. Market Size & Forecast
11.3.3.1.1. By Value
11.3.3.2. Market Share & Forecast
11.3.3.2.1. By Drilling Method
11.3.3.2.2. By Drilling Technology
11.3.3.2.3. By End-User
12. Market Dynamics13. Market Trends & Developments
14. Company Profiles
14.1. Simco Drilling Equipment, Inc.
14.1.1. Business Overview
14.1.2. Key Revenue and Financials
14.1.3. Recent Developments
14.1.4. Key Personnel
14.1.5. Key Product/Services
14.2. Massenza Drilling Rigs, Epiroc
14.2.1. Business Overview
14.2.2. Key Revenue and Financials
14.2.3. Recent Developments
14.2.4. Key Personnel
14.2.5. Key Product/Services
14.3. Lone Star Drills, Fraste S.p.A.
14.3.1. Business Overview
14.3.2. Key Revenue and Financials
14.3.3. Recent Developments
14.3.4. Key Personnel
14.3.5. Key Product/Services
14.4. Sunmoy Technology Co., Ltd.
14.4.1. Business Overview
14.4.2. Key Revenue and Financials
14.4.3. Recent Developments
14.4.4. Key Personnel
14.4.5. Key Product/Services
14.5. Dando Drilling International
14.5.1. Business Overview
14.5.2. Key Revenue and Financials
14.5.3. Recent Developments
14.5.4. Key Personnel
14.5.5. Key Product/Services
14.6. PRD Rigs
14.6.1. Business Overview
14.6.2. Key Revenue and Financials
14.6.3. Recent Developments
14.6.4. Key Personnel
14.6.5. Key Product/Services
14.7. Hardab
14.7.1. Business Overview
14.7.2. Key Revenue and Financials
14.7.3. Recent Developments
14.7.4. Key Personnel
14.7.5. Key Product/Services
14.8. Koken Boring Machine Co., Ltd.
14.8.1. Business Overview
14.8.2. Key Revenue and Financials
14.8.3. Recent Developments
14.8.4. Key Personnel
14.8.5. Key Product/Services
14.9. Drillmec
14.9.1. Business Overview
14.9.2. Key Revenue and Financials
14.9.3. Recent Developments
14.9.4. Key Personnel
14.9.5. Key Product/Services
14.10. Caster Drilling Enterprises.
14.10.1. Business Overview
14.10.2. Key Revenue and Financials
14.10.3. Recent Developments
14.10.4. Key Personnel
14.10.5. Key Product/Services
15. Strategic Recommendations16. About the Analyst & Disclaimer

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Simco Drilling Equipment, Inc.
  • Massenza Drilling Rigs, Epiroc
  • Lone Star Drills, Fraste S.p.A.
  • Sunmoy Technology Co. Ltd.
  • Dando Drilling International
  • PRD Rigs
  • Hardab
  • Koken Boring Machine Co. Ltd.
  • Drillmec
  • Caster Drilling Enterprises

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About the Market

The Water Well Drilling Rig market encompasses an array of specialized equipment and services dedicated to the exploration and establishment of water wells. Drilling rigs are intricate mechanical systems designed for digging holes into the earth's surface to access water reservoirs for various applications, including residential, agricultural, and industrial uses. The market is responsive to regional water scarcity, advancements in drilling technology, and the need for sustainable water resources management. The demand for these rigs is influenced by geographic and environmental factors, water table levels, governmental regulations, and technological improvements which allow for more efficient and less invasive drilling methods. Drilling rigs vary in size, from small and portable setups suitable for remote and hard-to-access areas, to larger, more powerful rigs capable of reaching greater depths. Market participants innovate by incorporating modern technologies such as hydraulic and pneumatic systems, telemetry, and automation to improve efficiency and reduce the environmental impact of drilling activities. Several companies operate within the Water Well Drilling Rig market, offering a spectrum of products and services. Prominent players include Schlumberger, Halliburton, Weatherford, Baker Hughes (a GE company), and National Oilwell Varco. These companies provide a diverse range of drilling rigs, along with technical expertise and related services to support water well establishment and maintenance. Other key players in the market include Epiroc, Dando Drilling International, and Herrenknecht AG, which contribute to the industry with specialized drilling solutions tailored to various customer needs. Show Less Read more

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