Global Water Well Drilling Rig Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Water Well Drilling Rig Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

A drilling rig is a machine which creates holes in the ground. Drilling rigs can be massive structures housing equipment used to drill water wells, oil wells, or natural gas extraction wells, or they can be small enough to be moved manually by one person and are called augers.

Market Overview:

The latest research study on the global Water Well Drilling Rig market finds that the global Water Well Drilling Rig market reached a value of USD 496.57 million in 2022. It’s expected that the market will achieve USD 622.48 million by 2028, exhibiting a CAGR of 3.84% during the forecast period.

Strength

Cost advantage in regions with lower labor prices.
Industry industry chain is complete.

Weakness

Market competition is fierce and new entrants are constantly entering.
There are certain financial and technical barriers.

Region Overview:

From 2023-2028, Asia Pacific is estimated to witness robust growth prospects.

Company Overview:

Epiroc is one of the major players operating in the Water Well Drilling Rig market, holding a share of 15.70% in 2019.

Epiroc is a leading productivity partner in the mining, infrastructure and natural resources industries. Epiroc develops and produces innovative rigs, rock excavation and construction equipment with the most advanced technology and provides world-class services and consumables.

The enterprise E+M was created 1919 in Hof, Bavaria, and is for more than 90 years a reliable partner for drillings and building of wells.

Segmentation Overview:

Among different product types, Mechanic segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Residential segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Water Well Drilling Rig market covered in Chapter 3:

Epiroc
Drillmec
XCMG Group
Kejr
Nordmeyer SMAG Drilling Technologies
Sinomach
Koken Boring Machine Co., Ltd.
Deep Rock Manufacturing
Massenza Drilling Rigs
Toa-Tone Boring Co., Ltd.
Dando Drilling International
Binzhou Drilling Rig
E+M Drilling Technologies
Lone Star Drills
HARDAB
Foremost
Simco Drilling Equipment
PRD Groups

In Chapter 4 and Chapter 14.2, on the basis of types, the Water Well Drilling Rig market from 2018 to 2029 is primarily split into:

Hydraulic Water Well Drilling Rig
Mechanic Water Well Drilling Rig

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Water Well Drilling Rig market from 2018 to 2029 covers:

Residential
Commercial

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)