California Drought leads to massive water well drilling boom driving the growth of the industry

Published Date: Jun 2015

The massive drought in California for consecutive years has contributed boom to massive water well drilling rig industry. Several well drilling manufacturers persuading some farmers to invest in massive drilling rigs the price of which can plummet to $1 million. A case in point is that of farmer Bob, who has bought a water drilling rig as some sort of “insurance policy”. This will help him to protect his thousands of acres of vegetable and crops from being spoilt.

It was costly investment by Smittcamp but he has spent about $4,000 an acre to tend to his peaches and grapes, and the government isn’t providing sufficient water so he has made up his mind to pump the water himself to safeguard from a huge financial loss. According to The Sacramento Bee there are many like Smittcamp who are doing their own drilling using rigs and applied for the permits for the same. In the first three months of the year, Fresno County, the main farming region in California, has issued as many as 256 permits for digging new wells.

There are many water well drilling rig equipment manufacturer who are in great demand by global and Chinese clients who provide portable water well and geothermal drilling rigs. The equipment are highly customized as per the needs of the clients and can be mounted on mounted on a truck frame or a crawler undercarriage.

There are many reports prepared by industry experts that track the current and future market growth dynamics and prospects. Recently Prof Research Reports has added a report titled "Global and Chinese Water Well Drilling Rig Industry, 2010-2020 Market Research Report. The report offers marketing insight into the key drivers and restraints, share and size of the leading manufacturers their detailed market segmentation and forecast through 2020.

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