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2021
Geotechnical Services Market

Geotechnical Services Market by Type (Underground City Space, Slope & Excavation, and Ground & Foundation) and Application (Bridge & Tunnel, Building Construction, Marine, Mining, Municipal, Oil & Gas, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030

A12836
Pages: 215
Oct 2021 | 2449 Views
Author(s) : Snehal Mohite , Eswara Prasad
Tables: 109
Charts: 63
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COVID-19

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Geotechnical Services Market Outlook - 2030

The global geotechnical services market size was valued at $1.9 billion in 2020, and is projected to reach $3.7 billion by 2030, growing at a CAGR of 6.7% from 2021 to 2030. Geotechnical engineering is a branch of civil engineering concerned with understanding the nature of the earth and its materials beneath its upper surface. The branch studies the physical, chemical, and mechanical properties of materials found below the earth's surface. Geotechnical engineering allows the monitoring and analysis of the condition of the subsoil of a property before constructing the foundation of a structure. It has become an integral part of every construction process, regardless of whether it is building, canal, tunnel, bridge, or road. The method helps to analyze the stability along with various other factors of the selected plot of land for construction. 

The coronavirus pandemic resulted in a nationwide lockdown and a halt in economic activities. A halt in the construction industry leads to a decrease in demand for geotechnical services.

For the purpose of global geotechnical services market analysis, the report segments based on type, application, and region. The report outlines the details about the different types of geotechnical services, including underground city space, slope & excavation, and ground & foundation. The applications covered in the study include bridge & tunnel, building construction, marine, mining, municipal, oil & gas, and others. Moreover, it analyzes the current geotechnical services market trends across different regions such as North America, Europe, Asia-Pacific, and LAMEA and suggests the future growth opportunities.

Geotechnical-Services-Market

The growth drivers, restraints, and opportunities are explained in the report to better understand the market dynamics. This report further highlights the key areas of investment. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and role of each stakeholder. The report features the strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of the key players to increase their market share and sustain intense competition in the industry.

The key players profiled in this report include AECOM, Stantec, Geoquip Marine Group, WSP, Fugro, HDR, EGS Survey, Gardline Limited, Arup, and Kiewit Corp. The global geotechnical services market report provides in-depth competitive analysis as well as profiles of these major players.

Global geotechnical services market, by type

By type, the underground city space segment accounted for around 42.8% of the geotechnical services market share in 2020. owing to its increased tunnel construction and underground activities in the industrial and residential sectors in emerging markets of Asia-Pacific, the Middle East, and Africa.

Geotechnical Services Market
By Type

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Underground City Space is projected as the most lucrative segment.

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Global geotechnical services market, by application

On the basis of application, the municipal segment is projected to grow at the highest rate during the geotechnical services market forecast period owing to increase in residential, office, and commercial projects often in urban areas. 

Geotechnical Services Market
By Application

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Municipal is projected as the most lucrative segment.

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Geotechnical services market, by region 

Region wise, North America is the largest geotechnical services market in the region. This is majorly attributed to high penetration of geotechnical services and initiation of large number of infrastructure & substructure projects in the region.

Geotechnical Services Market
By Region

2030
North America 
2030
Asia-pacific 
Europe
Lamea

North America holds a dominant position in 2020 and would continue to maintain the lead over the forecast period.

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Key Benefits For Stakeholders

  • Porter’s five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
  • It outlines the current trends and future estimations from 2020 to 2030 to understand the prevailing opportunities and potential investment pockets.
  • The major countries in the region have been mapped according to their individual revenue contribution to the regional market.
  • The key drivers, restraints, & geotechnical services market opportunities and their detailed impact analysis are explained in the study.
  • The profiles of key players and their key strategic developments are enlisted in the report.

Impact of COVID-19 on the global geotechnical services market

COVID-19 is an infectious disease that originated in Hubei province of the Wuhan city in China in late December. The highly contagious disease, caused by a virus, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), is transmitted from humans to humans. Since the outbreak in December 2019, the disease has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020. 

The outbreak of COVID-19 pandemic had led to partial or complete shutdown of production facilities, which do not come under essential goods, owing to prolonged lockdown in major countries such as the U.S., China, Japan, India, and Germany. It has led to either closure or suspension of their production activities in most of the industrial units across the world. Construction & infrastructure is one of the most affected sectors, owing to a lockdown announced in several countries.. Lockdown has affected several construction and infrastructure projects due to supply chain disruptions and the unavailability of workers. In March 2020, Boston became the first city in the U.S. to halt all construction activities to contain the spread of COVID-19, which negatively impacted the geotechnical services market growth.

Key Market Segments

By Type

  • Underground City Space
  • Slope & Excavation
  • Ground & Foundation

By Application

  • Bridge & Tunnel
  • Building Construction
  • Marine 
  • Mining
  • Municipal
  • Oil & Gas
  • Others

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • Germany
    • UK
    • Spain
    • Italy
    • Rest of Europe
  • Asia-Pacific
    • India
    • China
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • LAMEA
    • Brazil
    • Saudi Arabia
    • South Africa
    • Rest of LAMEA
 

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This section provides the insights of top-level CXOs. According to the CXOs, the geotechnical services market is moving toward growth stabilization phase in its industry life cycle. The factors driving the growth of the market for geotechnical services include rise in demand for construction of bridges & tunnels as well as buildings.

Geotechnical instrumentation is a type of instrument that is used in places that require monitoring. A geotechnical service is an indispensable factor in completing geotechnical projects. Simple project requires limited geotechnical instrumentation, whereas the demand for geotechnical instrumentation and monitoring is high in critical projects such as embankments, tunnels, and excavations. With increase in the construction of public services, including dams and bridges, the introduction of geotechnical and monitoring instruments is expected to increase during the forecast period.

North America constitutes the largest market for the industry and generated revenue of $617.8 million in 2020, as the region houses major geotechnical services companies, especially in the U.S. The CXOs further added that in the Americas, both government and private sectors are aggressively involved in large-scale infrastructure projects. For example, the Nevada Department of Transportation (NDOT) constructed a 4-lane concrete interstate freeway between Silverline Road and Foothill Drive in Henderson. The government spent $83 million in this project.

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FREQUENTLY ASKED QUESTIONS?

A. North America region will provide more business opportunities for Geotechnical Services market in coming years

A. Stantec, Geoquip Marine Group, WSP, Fugro, HDR, EGS Survey, Gardline Limited are the top players in Geotechnical Services Market.

A. To get latest version of geotechnical services market report can be obtained on demand from the website.

A. Type segment holds the maximum share of the geotechnical services market

A. bridge & tunnel, building construction, marine, mining, municipal, oil & gas application are the potential customers of geotechnical services industry

A. The top ten market players are selected based on two key attributes - competitive strength and market positioning

A. High growth potential in Asia-Pacific and GCC countries as well as increase in investments in oil & gas and major energy projects are expected to create remunerative opportunities for the expansion of the global market during the forecast period.

A. The market players are adopting various growth strategies and also investing in R&D extensively to develop technically advanced unique products which are expected to drive the market size.

A. The construction of wind power facilities in a number of nations is expected to boost the growth of the geotechnical services market during the forecast period.

A. Developments in oil & gas projects is anticipated to benefit the geotechnical services market in the coming years.

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