- With growing number of test drills, demand for water well drilling equipment is expected to grow at significant rate.
- Rapidly growing water demand due to immense growth rate of population and rapidly growing industrialization are the major reasons for highest CAGR of Asia Pacific region.
- With continuous demand of water and changing climate conditions, water well equipment market is expected to witness promising growth over the period.
Development of ground water resource has undergone a manifold acceleration during past two decades. Organizations are realizing that to undertake construction of various abstraction structures, it is essential to employ the most modern drilling equipment available. It is equally imperative to meet the demand for water especially during drinking water and sanitation decade as well as to enhance the irrigational potential and industrial demands.
Being a costly proposition work, machines used for the drilling work has to be used with optimum capacity, as any failure may add tremendous wastage cost to overall cost of operation. With rapidly increasing need for water, it is essential to explore the vast underground water reservoir through water well drilling.
Water well drilling equipment market is primarily driven by the occurrence of distinctive geological frame-work over the world. Occurrence of ground water in different formations is majorly controlled by the geologic frame-work like structure, composition and the characteristics of the rock. Majority of the rocks contain interstices or open spaces which control the occurrence of ground water. The nature of these openings, their size, shape, degree of continuity and distribution are not generally uniform.
Promising demand for wide range of drilling equipment offering is credited to mentioned intermittent structure of earth. Another driving factor for water well drilling equipment market is test drill method of ground water investigation. Exploratory drilling and aquifer performance tests are the ultimate methods in any ground water investigations.
Since drilling, construction and development of wells involve high expenditure the final site for a well is selected after taking into consideration field data and interpretation made from hydrogeological surveys. With growing number of test drills, demand for water well drilling equipment is expected to grow at significant rate. With high cost involved in overall water well drilling process, the water well drilling equipment market is also emerging as service industry by offering overall drilling process as service.
North America is leading the water well drilling equipment market as it is the most common location for water well drills. The growth of water well drilling equipment market in this region is credited to highly distinctive geological frame-work. Rapidly growing water demand due to immense growth rate of population and rapidly growing industrialization are the major reasons for highest CAGR of Asia Pacific region. With continuous demand of water and changing climate conditions, water well equipment market is expected to witness promising growth over the period.
The global water well drilling Equipment Market is segmented on the following basis:
- Drilling Method
- Cable Tool Drill
- Direct Rotary Drill
- Reverse Circulation Drill
- Down the Hole (DTH) Drill
- Capacity Rating
- Light ( up to 150 meters)
- Medium ( 150 – 450 meters)
- Heavy ( 450 – 1000 meters)
- Formation of Ground:
- Hard Rock
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Asia
- Rest of Asia Pacific
- Rest of the World (RoW)
- Latin America
- Middle East & Africa (MEA)
- North America
Key players identified in global Water Well Drilling Equipment Market include but are not limited to:
Velson Industries, SIMCO Drilling Equipment, Inc., Kejr, Inc., Hydra-Fab Manufacturing, Inc., Dando Drilling International Ltd., Jewett Construction Co. Inc., Shandong Machinery Group Co. Ltd., Wuxi Jinfan Drilling Equipment Co. Ltd., Energold Drilling Corporation, Archway Engineering UK Ltd., Ausdrill International Pty Ltd. and others.