Digging Deep: the Industry is Expected to Benefit from Growing Demand to Replace Aging Infrastructure
The levels of investment in both public-sector and private-sector markets impact the performance of water well drilling contractors. A boom in the residential construction market offset stagnating state and local investment over the current period. Industry-wide revenue has been growing at a CAGR of 2.7% over the past five years and is expected to total $9.3 billion in 2023, when revenue will dip by an estimated 1.2%.
This industry comprises operators primarily engaged in the construction of water wells. The work performed may include new work, reconstruction, rehabilitation and repairs. Specialty trade contractors are included in this group if they are engaged in activities primarily related to water well drilling.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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