According to PR Newswire, market growth is estimated to accelerate at a CAGR of 6.16% and register an incremental growth of USD 15.36 billion during the forecast period (February 2023). In 2017, the drilling rig market was valued at USD 54.62 billion. Since the market size of drilling rigs is continuously rising, there are purchasing considerations to be taken note of. Here are some to be included on the list:
#1 Cost-Benefit Analysis
When purchasing a mobile drilling rig, a detailed cost-benefit analysis can provide valuable insight. Businesses must balance the upfront costs, operational expenses, and potential productivity gains that the rig can provide. Factors like fuel consumption, rig capacity, and maintenance costs should be factored into the analysis.
#2 Safety Features
A mobile drilling rig’s safety features play an essential role in maintaining a secure work environment. The presence of OSHA-compliant handrails, walkways, and clear control panels are critical considerations. Additionally, as someone who has been on the ground, I can attest that features like built-in steps and enhanced working platforms are invaluable for operator safety and comfort.
#3 Technological Capabilities
The technological capabilities of a mobile drilling rig can significantly impact its efficiency and usability. Modern rigs often come with advanced digital controls and instrumentation that make operations smoother and more precise. Check out Drillrigy and experience our machines’ technological capabilities.
#4 Adaptability to Environmental Conditions
Another critical consideration when buying a mobile drilling rig is its adaptability to different environmental conditions. Businesses should consider whether the rig is built to withstand the specific climatic conditions and terrains where it will be operated.
#5 Rig Power
The power output of a mobile drilling rig is a critical determinant of its drilling capacity and efficiency. Depending on the specific drilling requirements, for example, businesses should select a rig with an appropriate power rating to ensure optimal performance.
