Drill rig and pile driver trends should continue making the drilling and piling industry lucrative and dynamic for years to come. The past couple of years have seen tumultuous activity in variable costs like fuel exacerbated by breakdowns in international supply chains as well as ports inundated with shipments causing significant delays for nearly every industry. Drilling rig and pile driver operators may have experienced labor shortages or delays in replacement parts or piling and drilling equipment. These factors have caused many firms to create more dynamic plans for sourcing equipment and navigating an uncertain future.
There are exciting new opportunities for pile driver and drill rig operators to gain access to public/private projects, explore the growing demand for renewable energy, and discover dynamic options for sourcing high-quality equipment without considerable upfront costs.
Drill Rig and Pile Driver Trends Towards Market Growth
The drilling and pile driving industry is estimated to grow by nearly $2 billion annually by 2030, for a total valuation of some $7 billion. It remains an essential part of the international economy for public and private projects. Commercial deep foundations, drilling, and pile driving projects remain an integral part of the construction industry at large, and this is expected to continue into 2023.
As the market grows over the course of the next decade, operators will need to develop dynamic equipment-sourcing solutions, and many have discovered the benefits of renting a pile driver instead of purchasing a new pile-driving rig. Renting a drill rig or pile driver gives small and medium-sized firms the ability to gain access to an entire fleet of equipment without significant capital investment and also reduces the need for logistic management and fleet services.
Infrastructure Repair and Improvements
The federal government has allocated $40 billion to repair, improve, or replace existing infrastructure systems as they near the end of their lifespan. In the United States, most of the nation’s transportation infrastructure was designed and constructed from the 1950s to the 1970s, with an estimated lifespan of fifty years.
Upgrading and repairing these systems not only ensures public safety but it also helps reduce the chance for further breakdowns in the supply chain, which have led to higher interest rates and inflation in recent months. Due to the unique demands of infrastructure projects having access to equipment that is tailored to the project’s specific needs and that won’t damage existing systems is integral to a job’s success.
Solar Arrays and a Shift to Renewable Energy
As increased demand for renewable energy like solar power grows, exciting opportunities for pile-driving rig operators are emerging in constructing these vast arrays. Solar panels also require precise alignment to capture the sun’s rays and harness them to create clean electricity. This accuracy can be achieved with equipment like the HMC STR20 self-contained track rig pile driver that features cutting-edge technology and advanced GPS that allows operators to install these piles at precise angles according to engineering specifications.
Solar arrays also require the installation of new transmission and power lines which requires equipment that can operate under existing structures and on sites with obstructions or low clearances. The HMC SP series of hammers, including the SP50, SP80, and SP100, are designed to handle the most challenging jobs balanced with a compact design that allows them to accommodate sites with low clearances as well as single truck deployment.
Operators Opting for Rental Solutions
Many small and medium-sized firms opt for pile driver rental solutions that give them access to a well-equipped fleet. Renting a pile driver allows operators and contractors to keep their operating costs down when their equipment is not in the field and maintain a dynamic workflow with equipment tailored to their project’s specific demands and requirements. Working with a trusted local vendor gives contractors a competitive edge and access to well-maintained equipment without the costs associated with purchasing and maintaining a fleet of rigs and equipment.
Trust the Experts for Drill Rig and Pile Driver Trends
With over fifty years of experience, RPI Equipment remains dedicated to providing the highest level of customer service, transparent communication, and expertise. We are in tune with the industry and are able to close track drill rig and pile driver trends over the year and long term. From large-scale transportation infrastructure to commercial deep foundations and solar array drilling projects, we maintain a growing inventory of drilling rigs and pile-driving equipment. Family-owned and operated, our knowledgeable sales team is ready to help you explore our entire fleet to identify the precise equipment for your next project.
Our experienced service technicians are ready to be deployed and can perform next-day service calls with 24-hour advance notice. Our third-party services can help owners and rig operators avoid unnecessary oil and grease changes, troubleshoot equipment, and provide comprehensive diagnostics to keep all machinery operating flawlessly. Our teams are able to resolve most issues with OEM parts and the highest quality repairs.
We take great pride in maintaining our rental fleet to the highest standards and perform regular preventative maintenance to guarantee our client’s equipment that is in top shape. Contact us today to get your free quote and discover the RPI Equipment difference.