Saudi Arabia Water Well Drilling Rig is anticipated
to grow at a steady pace in the forecast period 2024-2028. The two main factors
attributed to the expansion of the water well drilling rigs are an increase in
drilling operations and a rising demand for water exploration projects. The
demand for water well drilling rigs is being driven by an increase in water
consumption brought on by the growing population. The primary factors for the
expanding water well drilling rig market are the increase in drilling
operations and rising demand for water exploration projects.
The water that dwells
underground is the cleanest on earth. No other source of fresh water is as
copious either. It makes up more than 97% of the planet's liquid freshwater. Drillers of modern water
wells serve as both providers and defenders of the country's groundwater
resources. To access various groundwater formations, several drilling
techniques are employed.
Expanding Drilling
Operations & Government Initiatives Towards Water Well Drilling
Rig
The
expanding infrastructure investment and encouraging mining exploration projects
present water well drilling rigs with attractive growth prospects. These
elements boost the market's demand for water well drilling rigs within the
anticipated time frame. Water jets are used
in coal mining to dismantle coal scams and remove sediments from the frauds. Around
250 liters of fresh water are required for every ton of coal produced.
For instance, in Saudi Arabia, the oil
and gas project's offshore construction started in September 2020. A five
billion cubic meter (bcm) per year starting production of natural gas is
anticipated from the field, by the end of 2021. Expanding economies, growing populations, and improving
quality of life are the leading causes of the rise in energy consumption. To
support ongoing and future coal mine operations, the government wants to
integrate new technologies and expand digital infrastructure, which will lessen
the nation's import dependence, due to which the market is expected to rise.
The
water well drilling rigs are expected to benefit from growing public
investments, encouraging programmed to improve mining exploration projects.
During the anticipated term, these variables boost demand for the market for
water well drilling rigs. However, drilling rigs for digging water wells in
rocky terrain must use hard drill bits, which have higher equipment costs and
replacement costs. This will make them less effective throughout the
anticipated term.
Adoption
of Latest Tools and Technologies is Fueling the Market
The
important competitive analysis variables that fuel the need for water well
drilling rigs over the forecast period include securing more drilling
contracts, growing present business, and implementing divergent company
strategies to expand the market.
After
a challenging 2020, the rebound in oil and gas demand benefits drilling
activities. 12% rise from 2020 levels, Saudi Arabia drilling well count is 54,000
in 2021.
Drilling
will likely rise much further in 2023. As the world is moving towards drilling
operations, the Saudi Arabia water well drilling rig market is anticipated to
grow in the forecast period.
Nowadays,
drillers are using latest technologies and tools to enhance water exploration
worldwide, due to which well logging is a method used for survey of underground
water in water wells. Hence, Mapping is used for water well design and
construction, thus as new technologies are coming up in the market, the Saudi Arabia Water Well Drilling Rig Market is anticipated to grow with
a high CAGR in 2024-2028.
However,
rocky terrain requires a tricky drill bit, with more equipment costs and
maintenance expenses. As a result, water well drilling rigs face challenges in
the anticipated time frame.
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Market Segmentation
The Saudi Arabia Water Well Drilling Rig
is divided into
drilling method, drilling technology, and end-use. Based on drilling method,
market is segmented into rotary drill, cable tool drill, down the hole drill, and others. Based on
drilling technology, the market is segmented into horizontal directional drilling and vertical drilling. Based on
end-use, market is segmented into oil &
gas, irrigation, mining, and others.
Market Players
Major
market players in the Saudi Arabia Water Well Drilling Rig market are Delmon Co Ltd, Maithem ali al
baraham, Dalma Gulf Drilling Company, Abdul Rahman Al Qadir Group, Epiroc AB.
Recent
Developments
· Aramco
reported that Exxon Mobil's net income for the second quarter came in at USD 4.69
billion, or USD 1.10 per share, compared to a loss of USD 1.08 billion, or 26
cents per share, a year earlier.
· "In
Kingdom of Kuwait, the second-quarter results reflect a considerable rise in
Saudi Arabian energy consumption, as the global economy gains traction. They will enter the second half of 2021 stronger, more adaptive, and
resilient." Aramco CEO Amin Nasser stated in a statement.
|
Attribute
|
Details
|
|
Base Year
|
2022
|
|
Historic Data
|
2018 – 2022
|
|
Estimated Year
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2024
|
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Forecast Period
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2024 – 2028
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Quantitative Units
|
Revenue in USD Million, and CAGR for
2018-2022 and 2023-2028.
|
|
Report coverage
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Revenue
forecast, company share, growth factors, and trends
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|
Segments covered
|
Drilling method
Drilling Technology
End-Use.
|
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Regional scope
|
Riyadh, Makkah,
Eastern Province, Rest of Saudi Arabia
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|
Key companies profiled
|
Delmon.co.ltds, Maithem ali al baraham,
DALMA GULF DRILLING CO, Abdul Rahman Al Qadir Group, Epiroc AB
|
|
Customization scope
|
10% free report
customization with purchase. Addition or alteration to country, regional
& segment scope.
|
|
Pricing and purchase options
|
Avail customized purchase options to
meet your exact research needs. Explore purchase options
|
|
Delivery Format
|
PDF and Excel through Email
(We can also provide the editable version of the report in PPT/Word format on
special request)
|
Report Scope:
In this report, the Saudi Arabia Water Well
Drilling Rig has
been segmented into following categories, in addition to the industry trends
which have also been detailed below:
·
Saudi Arabia Water Well Drilling Rig, By Drilling method:
o
Rotary Drill
o
Cable tool Drill
o
Down the Hole Drill
o
Others
·
Saudi Arabia Water Well Drilling Rig, By Drilling Technology:
o
Horizontal
Directional Drilling
o
Vertical Drilling
·
Saudi Arabia Water Well Drilling Rig, By
End-User:
o
Oil & Gas
o
Irrigation
o
Mining
o
Others
·
Saudi Arabia Water Well Drilling Rig, By Region:
o Riyadh
o Makkah
o Eastern Province
o Rest of Saudi Arabia
Competitive Landscape
Company Profiles: Detailed analysis of the major
companies present in the Saudi Arabia Water
Well Drilling Rig.
Available Customizations:
Saudi Arabia Water Well Drilling Rig report with the given market data,
Tech Sci Research offers customizations according to a company's specific
needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to
five).
Saudi Arabia Water Well Drilling Rig is an upcoming report to be
released soon. If you wish an early delivery of this report or want to confirm
the date of release, please contact us at [email protected]