Industry Analysis & Industry Trends
Operators in the Test Drilling and Boring industry drill into the ground to test the attributes of the soil, measure ground heat, test for water reserves, monitor the build-up of gas under reclaimed land and sample for minerals. These services are typically required to ensure the safety of the works on brownfield and greenfield sites, as well as various industrial sites, before construction work can begin. The industry is one of the smallest in the construction sector and its performance fluctuates widely due to the influence of investment conditions in several key markets. Improving conditions across much of the construction sector have boosted the industry's performance over the past couple of years.
Industry revenue is expected to rise at a compound annual rate of 2.7%... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Test Drilling and Boring industry is considered to be in a mature stage of its life cycle despite its sharp contraction as a share of the UK economy since the mid-2000s. The industry is relatively small and subject to a high degree of revenue volatility, however contractors continue to benefit from advancements in technology and tighter environmental regulations.
The value the industry adds to the economy is expected to rise at a compound annual rate of 4% over the 10 years through 2021-22. This is faster than the growth rate of UK GDP, which is expected to grow at a compound annual rate of 2.3% over the same period. How.. purchase to read more