0

Geotechnical Services Market is Expected to Reach $3.7 Billion by 2030

 
2022
Geotechnical Services Market

Report Code : A12836

quote Geotechnical services, also known as geotechnics and Geotechnical engineering is the branch of civil engineering concerned with the engineering behavior of earth materials. For the solution of its respective engineering challenges, it employs soil and rock mechanics principles. Knowledge of geology, hydrology, geophysics, and other relevant subjects is also required. The considerable increases in infrastructure investments across various countries, as well as the usage of geotechnical instrumentation to prevent the breakdown of geotechnical constructions, are major drivers of market expansion. quote

Eswara Prasad
Manager, Energy and Power at Allied Market Research

Get 20% Free Customization In This Report
Follow us on Social Media:       
 

According to a new report published by Allied Market Research, titled," Geotechnical Services Market By Type And Application: Global Opportunity Analysis And Industry Forecast, 2021-2030," 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 service helps determine if a site is suitable for a particular construction project. Geotechnics is a civil engineering discipline that deals with the theory of the mechanics of soils and rocks to study the physical properties of terrestrial materials. Geotechnical services include drilling a deep hole in the ground, collecting soil samples, testing the sample, analyzing the test report, and making suitable foundation recommendations. These services play an important role in the planning of large infrastructures, such as high-rise buildings, bridges, railways, tunnels, and similar construction projects on land and at sea. In addition to construction, geotechnical services are used in the oil & gas and mining industries.

Massive amount of investments made by government authorities for construction activities in emerging economies is one the factors responsible for driving the growth of the geotechnical services market. Moreover, developments in oil & gas projects is anticipated to benefit the geotechnical instrumentation & monitoring market in the coming years.

The geotechnical services market analysis has been done on the basis of type, application, and region. On the basis of type, the market is fragmented into underground city space, slope & excavation, and ground & foundation. The underground city space segment is expected to hold the largest geotechnical services market share during the forecast period due to the use of underground city space, which is one of the prerequisites for the development of megacities. Depending on application, the market is categorized into bridge & tunnel, building construction, marine, mining, municipal, oil & gas, and others. The municipal segment was the major share contributor in 2020, whereas the oil & gas segment is projected to register a CAGR of 7.2% during the geotechnical services market forecast period.

Region wise, North America garnered the largest share, as the region houses major geotechnical services companies, especially in the U.S. Moreover, increase in number of new infrastructure projects is expected to escalate the demand for geotechnical instrumentation and monitoring tools. Therefore, rapid development of new infrastructures in the Americas is one of the major driving factors for the geotechnical services market growth in this region.

The major companies profiled in geotechnical services industry are AECOM, Stantec, Geoquip Marine Group, WSP, Fugro, HDR, EGS Survey, Gardline Limited, Arup, and Kiewit Corp. These players have adopted strategies such as product launch and business expansion to sustain the competition and to strengthen their foothold in the market.

Key findings of the study

  • Region wise, North America is projected to grow at the highest CAGR of nearly 6.3%, in terms of revenue, during the forecast period.
  • On the basis of application, the municipal segment accounted for the largest market share in 2020.
  • Depending on type, the underground city space segment garnered the highest share in 2020.

Impact of COVID-19 on the global geotechnical services market

As 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 growth of the geotechnical services market.

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com

 

For Media Inquiries, Please Contact

Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at
media@alliedmarketresearch.com

Looking for Customization?

 Customization Request

Have a Question?

 Speak with Analyst

Any Confusion?

 Inquire Before Buying

Have a glance of the Report

  Request Free Sample
 
 

First time buyer?
Check offers and discount on this report
To get this report

Click Here
 
 

quote 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 quote

View Report
 
 

Avenue: Entire Library membership of Allied Market Research Reports at your disposal

  • Avenue is an innovative subscription-based online report database.
  • Avail an online access to the entire library of syndicated reports on more than 2,000 niche industries and company profiles on more than 12,000 firms across 11 domains.
  • A cost-effective model tailored for entrepreneurs, investors, and students & researchers at universities.
  • Request customizations, suggest new reports, and avail analyst support as per your requirements.
  • Get an access to the library of reports at any time from any device and anywhere.

 
 

WHY ALLIED MARKET RESEARCH?

INFLALLIBLE METHODOLOGY

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

ANALYST SUPPORT

For complete satisfaction

CUSTOMIZATION

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers

 

Featured Readings

 
rep-img

Published Date Nov 2024

Plush Toy Market

Download Sample

Buy Full Version
"Geotechnical Services Market"
Purchase Enquiry

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

Get Industry Data Alerts

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of the scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save the time of readers