Global Water Well Drilling Market Growth (Status and Outlook) 2023-2029

Global Water Well Drilling Market Growth (Status and Outlook) 2023-2029

Establishments engaged in water well drilling tend to be small, independent contractors. Even the industry leaders tend to be small, seldom generating more than $20 million in annual revenues. Some of the largest companies have diversified into other areas of construction or other types of drilling projects, such as oil, natural gas, and geothermal wells.

The nation's water supply comes from surface sources such as lakes, rivers, and streams, in addition to vast underground aquifers. Groundwater has often been preferred over surface water for use in homes and industry because it is relatively inexpensive to develop and treat, it contains no sediment, its chemical quality remains constant, and facilities to develop it can be situated on small plots of ground. Of the 408 trillion gallons of water consumed daily in the United States in the early 2000s, nearly 20 percent was ground water.

Contractors who drill wells to tap into underground water are largely dependent on new construction. In fact, community water mains and wells for single-family houses account for the vast majority of all business done by this industry. More than 15 million water wells provide 79.4 billion gallons of ground water daily to U.S. residents for community and single-family use, irrigation, livestock, and other agricultural, commercial, and industrial purposes. Irrigation accounted for the largest portion (60 billion gallons) of ground water usage.

This Report covers special trade contractors primarily engaged in water well drilling. Establishments primarily engaged in drilling oil or gas field water intake wells on a contract or fee basis are classified in.

LPI (LP Information)' newest research report, the “Water Well Drilling Industry Forecast” looks at past sales and reviews total world Water Well Drilling sales in 2022, providing a comprehensive analysis by region and market sector of projected Water Well Drilling sales for 2023 through 2029. With Water Well Drilling sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Water Well Drilling industry.

This Insight Report provides a comprehensive analysis of the global Water Well Drilling landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Water Well Drilling portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Water Well Drilling market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Water Well Drilling and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Water Well Drilling.

The global Water Well Drilling market size is projected to grow from US$ 4653.5 million in 2022 to US$ 5767 million in 2029; it is expected to grow at a CAGR of 3.1% from 2023 to 2029.

Global Water Well Drilling key players include Layne, Gordon and Sons, Barco Well Service, Johnson Water Well Drilling, etc. Global top four manufacturers hold a share about 2%.

North America is the largest market, with a share about 40%, followed by Europe and India, both have a share over 30 percent.

In terms of product, 4~8 Diameter is the largest segment, with a share about 35%. And in terms of application, the largest application is Domestic use, followed by Industrial use, Irrigation, etc.

This report presents a comprehensive overview, market shares, and growth opportunities of Water Well Drilling market by product type, application, key players and key regions and countries.

Market Segmentation:

Segmentation by type

<4" Diameter

4"~8" Diameter (8" not covered)

8"~10"Diameter (10" not covered)

10"~12" Diameter (12" not covered)

>12" Diameter

Segmentation by application

Domestic Use

Industrial Use

Irrigation

Others

This report also splits the market by region:

Americas

United States

Canada

Mexico

Brazil

APAC

China

Japan

Korea

Southeast Asia

India

Australia

Europe

Germany

France

UK

Italy

Russia

Middle East & Africa

Egypt

South Africa

Israel

Turkey

GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.

Layne

Weninger Drilling, Llc

Tampa Well Drilling

Gordon and Sons

Barco Well Service

Johnson Water Well Drilling

Nelson Drilling Company

Jackson Water Well

Craig Waterwell & Drilling Ltd

Mikes Drilling & Pump Service

Loman Drilling Inc

Jim Jeffers Well Drilling

Caster Drilling Enterprises

Bennett Water Well Drilling

Casey well drilling

Please note: The report will take approximately 2 business days to prepare and deliver.