Test Drilling & Boring in the UK - Industry Market Research Report

Drilling in revenue: Ongoing investment is driving industry growth in 2023-24

Revenue is forecast to climb at a compound annual rate of 7.3% over the five years through 2023-24 to £375.6 million. The COVID-19 pandemic significantly impacted the construction industry in the UK, with revenue nosediving by 19.6% in 2020. However, construction activity bounced back over the two years through 2022-23 as lockdown restrictions eased, supporting expanding revenue. Despite weak growth initially, house prices soared over the two years through 2022, according to the ONS, driving developers to push up production.

This industry includes firms engaged in test drilling, boring and core sampling. It excludes water well drilling and drilling activities in the mining, oil and gas industries. Most firms operate as subcontractors for builders, engineers and local councils on building and development projects, or for geophysical surveying and mapping applications.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.