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2020
Water Well Drilling Services Market

Water Well Drilling Services Market

by Application (Residential, Irrigation and Institutional), and Drilling Method Type (Rotary Drilling, Cable tool drilling & Auger drilling and Others): Global Opportunity Analysis and Industry Forecast, 2021-2027

Report Code: A07652
Pages: 189
Nov 2020 | 6330 Views
Author(s) : Priya , Roshan D
Tables: 65
Charts: 42
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COVID-19

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The global water well drilling services market size was valued at $2,833.3 million in 2019, and is projected to reach $3,900.6 million by 2027, registering a CAGR of 4.7% from 2021 to 2027. 

Water well drilling services are involved in the process of offering the service of drilling a hole in the ground to make water well or borewell in order to extract ground water for various application including residential use, irrigation, industries, commercial use and others. Water well drilling can be done either mechanically or manually and the characteristics of equipment differs from simple & cheap to very sophisticated. There are various methods to drill a water well that include rotary method, jetting method, cable tool method, auger drilling method and others. Additionally, the water well drilling services market analysis is done on the basis of regions, key players and segments.

water-well-drilling-services-Market-2020-2027

The COVID-19 pandemic had a negative impact on the growth of the water well drilling services market. This is because, the activities of water supply through borewells to a high number of households, or industries, were already directed to protect public health especially from pathogens .Thus, owing to this, the demand for new drilling of water well  low in various sectors including municipality, education sector ,  agriculture sector, industrial sector and others. This has negatively impacted the water well drilling services market growth in terms of value sales.

The global water well drilling services market segment is categorized into application, drilling method types and region. Based on application, the market is divided into residential, irrigation and institutional. On the basis of drilling method type, the water well drilling services market is segregated into rotary, cable tools drilling & auger drilling and others. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France,  UK, Italy, Spain, Russia and the rest of Europe), Asia-Pacific (China, India, Japan, Australia & new Zealand , Korea, ASEAN and the rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia ,South Africa, Turkey, and others).

Water Well Drilling Services Market
By Application

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The residential segment dominates the global water well drilling services market and is expected to retain its dominance throughout the forecast period.

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On the basis of application, the residential segment accounted for the highest water well drilling services market share in 2019. The demand for water wells in rural areas is high as municipal services is not accessible to them. Moreover, majority homeowners living in populated areas are considering becoming self-sustaining and having their own private well, which increases the demand for water well for residential use. This in turn has driven the water well services market growth in terms of value sales through this segment.  However, the institutional segment is expected to witness a significant growth during the water well drilling services market forecast period.

On the basis of drilling method type, the cable tools drilling & auger method drilling method segment accounted for the highest water well drilling services market share in 2019. Cable tool drilling is a slower drilling method, but it is preferable as it is cheaper and less complicated to operate than a rotary drill method. Through percussion drilling method it is easy to remove boulders and break harder formations, effectively and quickly through most types of earth. It can drill further into the water table than dug wells, even drilling past one water table to reach another. Thus, this method is still used today as it has several advantages including one-person operation, low equipment cost compared to other methods. Simple, rugged design requiring minimal maintenance. Thus, advantages offered by this method has made water drilling services easy, which in turn contributes in driving the growth of  the water well drilling services market.

Water Well Drilling Services Market
By Drilling Method Type

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The cable tool drilling & auger drilling segment dominates the global water well drilling services market and is expected to retain its dominance throughout the forecast period.

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Region-wise, the water well services market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific accounted for the highest market share in 2019. Owing to the growing demand for water in this region presence of many waters well drilling service providers in this region. Moreover, the farmers in these regions are often dependent of ground water for irrigation, which has increased the demand for water wells or borewells in this region. This in turn has driven the water well drilling services market demand in this region in terms of values sales. Moreover, the rapid industrialization in this region has also increased the demand for ground water, which in turn is expected to offer immense opportunities for the growth of water well drilling services market in this region in terms of value sales during the forecast period.

The key players operating in the global water well drilling services market focus on prominent strategies to overcome competition and maintain as well as improve their market share globally. Some of the major players in the global water well drilling services industry analyzed in this report include caster drilling,  Jim Jeffers Well Drilling, Casey Well Drilling, LOMAN Drilling Inc., CRAIG Waterwell & Drilling Ltd, TAMPA WELL DRILLING, INC., Gordon & Sons Water Well Drilling, Weninger Drilling, LLC, Barco Well Service LP and Johnson Water well Drilling.

Water Well Drilling Services Market
By Region

2027
Asia-pacific 
North America
Europe
LAMEA

The Asia- Pacific segment dominates the global water well drilling services market and is expected to retain its dominance throughout the forecast period.

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Key benefits for stakeholders

  • The report provides a quantitative analysis of the current water well drilling services market trends, estimations, and dynamics of the market size from 2021 to 2027 to identify the prevailing opportunities.
  • Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
  • In-depth analysis and the water well drilling services market size and segmentation assist to determine the prevailing Water well drilling services market opportunity.
  • Major countries in each region have been mapped according to their revenue contribution to the global industry. 
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of market players.
  • The report includes the analysis of the regional as well as global market, key players, market segments, application areas, and growth strategies.

Water Well Drilling Services Market Report Highlights

Aspects Details
By Application
  • RESIDENTIAL
  • IRRIGATION
  • INSTITUTIONAL
BY DRILLING METHODS TYPE
  • Cable tool drilling & auger drilling
  • Rotary Drilling
  • .Others
By Region
  • NORTH AMERICA  (US, MEXICO, CANADA)
  • EUROPE  (GERMANY, UK, FRANCE, ITALY, SPAIN, RUSSIA, REST OF EUROPE)
  • ASIA-PACIFIC  (INDAI, JAPAN, CHINA, .Australia & New Zealand, ASEAN, KOREA, REST OF ASIA-PACIFIC)
  • LAMEA  (BRAZIL, SAUDI ARABIA, SOUTH AFRICA, TURKEY, REST OF LAMEA)
Key Market Players BARCO WELL SERVICE, CASTER DRILLING, CRAIG WATERWELL & DRILLING LTD, GORDON & SONS WATER WELL DRILLING, JIM JEFFERS WELL DRILLING, JOHNSON WATER WELL DRILLING, LOMAN DRILLING INC., TAMPA WELL DRILLING, INC, WENINGER DRILLING, LLC
 

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Key players operating in the global water well drilling services market have adopted developmental strategies, such as adoption of new advance water well drilling method, to strengthen their foothold in the market in terms of value sales. 

According to the key market players, increase in population growth and rise in demand for water well across the globe boosts the growth of the water well drilling services market in terms of value sales. Therefore, the key players are focused to invest in service innovation for providing satisfactory level of services to their customers as well as to maintain their position in the market. 

According to some of the key water well drilling services providers, the rising preference for using ground water over surface water, which has fueled the demand for water well across the globe. Moreover, the rising trend of having private water wells among consumers majorly in the residential sector is expected to fuels the growth of the water well drilling services market in terms of value sales. However, the scarcity of ground water across the globe is expected to hamper the water well drilling services market growth in terms of value sales during the forecast period.
 

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FREQUENTLY ASKED QUESTIONS?

A. The global water well drilling services market size is projected to reach $3,900.6 million by 2027.

A. The global water well drilling services market is projected to grow at a CAGR of 4.7% from 2021 to 2027.

A. You can raise the query to our sales team, and they will get back to you with the sample for the water well drilling services Market Report.

A. The global water well drilling services market segment is categorized into application, drilling method types and region.

A. Increasing demand for water well owing to the rising population across the globe fuels the growth of the water well drilling services market.

A. The forecast period in the water well drilling services market is from the year 2021 to 2027

A. The rising consumer demand for private water majorly in the residential sector and the rising preference for using ground water over surface water are the key trends trends in the Water Well Drilling Services market report.

A. key players in the market are caster drilling, Jim Jeffers Well Drilling, Casey Well Drilling, LOMAN Drilling, CRAIG Water well Drilling, TAMPA WELL DRILLING, Gordon& Sons Water Well Drilling, Weninger Drilling, Barco Well Service and Johnson Water well Drilling.

A. The rising trend of having private water wells majorly in the residential sector and rising preference of groundwater over surface water is expected to fuel the growth of the water well drilling services market in terms of value sales.

A. The COVID-19 pandemic had a negative impact on the growth of the water well drilling services market. The demand for new drilling of water well is low in various sectors including municipality, agriculture sector, industrial sector, and others.

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