Geotechnical Construction Services Market Size by 2031
The geotechnical construction services market size is projected to reach US$ 3.83 billion by 2031 from US$ 2.32 billion in 2023. The market is expected to register a CAGR of 6.47% in 2023–2031. Geotechnical services are also employed in the oil & gas and mining industries in addition to construction. The geotechnical services market is majorly driven by the large sum of money invested by government bodies in construction activities in emerging economies. Furthermore, in the approaching years, advances in oil and gas projects are expected to benefit the geotechnical instrumentation and monitoring industry.
Geotechnical Construction Services Market Analysis
The geotechnical construction services market ecosystem comprises of following stakeholders- construction companies, geotechnical construction service specialists, geotechnical construction instrumental manufacturers, and applications. The construction companies reach out to different geotechnical construction service providers before beginning the construction process. Shallow and deep foundations; dam and tailing dam designs; stability analyses for embankment and excavation; ground improvement design; ground anchor and soil nail design; flood prevention structures; design of grout curtains; pavement, waste containment and lagoons; tunnel design; and design of underground structures are few services provided by the specialist to the construction companies. Arup; EGS; Fugro, and Geosyntec Consultants, Inc., among others, are a few companies engaged in the business of offering consulting services for construction activity. The geotechnical construction specialist uses different equipment like proctor compaction & density equipment, universal sample extractor, earth resistance tester, electronic digital weighing machine, and many more for testing purposes. The aforementioned geotechnical construction services are used for an array of applications, such as railways, airports, tunnels, commercial & housing buildings, plants, and factories.
Geotechnical Construction Services Market Overview
Minerals are the backbone of human civilization as their use in different applications has propelled the development of human civilization. Mineral and products made from minerals are used across industries such as power generation, manufacturing, chemical and petrochemical, healthcare & pharmaceutical, and construction. Setting up a mining site requires geotechnical and earthworks design expertise for surface and underground mapping, underground support analysis; stope, shaft, decline, drift, and tunnel designing, subsidence studies; shaft and drift investigation and designing, geological outcrop mapping; surface geophysical surveys; clean water, industrial, and tailings disposal dams designing, etc. Currently, coal, gold, iron ore, aluminum, and copper are among the most mined minerals owing to their vast use in the industrial sector. Such a growing need for minerals is supporting the proliferation of the mining industry, thereby propelling the geotechnical construction services market growth.
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Geotechnical Construction Services Market: Strategic Insights
Market Size Value in US$ 2,112.5 million in 2021 Market Size Value by US$ 3,192.5 million by 2028; Growth rate CAGR of 6.1% from 2021 to 2028 Forecast Period 2021-2028 Base Year 2021
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Geotechnical Construction Services Market: Strategic Insights
| Market Size Value in | US$ 2,112.5 million in 2021 |
| Market Size Value by | US$ 3,192.5 million by 2028; |
| Growth rate | CAGR of 6.1% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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Geotechnical Construction Services Market Drivers and Opportunities
Increasing Transport Infrastructure Projects
Transport infrastructure plays a vital role in the development of any economy. It is essential for the streamlined production and distribution of goods, and flourishment of the tourism and hospitality industries. Roadways, ports, airports, and railways are complex engineering projects that require geotechnical construction expertise. With the growing emphasis on economic development, governments of various developed and developing countries are investing significantly in their transport infrastructure development. For instance, the government of China has planned the construction of an additional 215 airports by 2035. In March 2021, the government of China announced its plan to construct a 1,011-km-long railway line to connect Chengdu with Linzhi, with a project cost of ~US$ 48 billion. In 2020, the project of the world's longest immersed rail and road tunnel between Germany and Denmark received a green light. The tunnel will be built by Femern A/S. In September 2020, the construction of the Ceneri Base Rail Tunnel was completed. The rail tunnel is anticipated to connect the Mediterranean and the North Sea in the future. In June 2018, the government of Sweden started following the National Transport Plan for 2018-2029 with a total budget of approximately US$76 billion; the plan will be focused on the development of several new railway constructions along with modernization and upgrading of the existing railway network. In November 2020, the UK government approved the Stonehenge Road tunnel project worth US$2.2 billion. In June 2019, the Canadian Government announced a project worth US$ 500 million for the reconstruction of the country's longest highway tunnel. Thus, such high government emphasis on the development and improvement of the transport infrastructure is paving the way for the geotechnical construction services market growth.
Growing Deployment of Offshore Wind Farms
Governments of European countries are currently emphasizing the North Sea for offshore wind generation due to relatively shallow water bodies. However, as floating technologies mature, the Mediterranean and Atlantic coasts have gained greater attention in recent years. The Wind Energy Technologies Office in the US funds research across the country to develop offshore wind technologies that capture wind resources off the US coasts and convert them to energy. Such a diverse portfolio of research, development, and demonstration projects will allow the industry to overcome fundamental barriers associated with offshore wind development; these include comparatively high electricity and project installation costs, environmental mitigation, technical challenges, and grid connection issues. Thus, the development of offshore wind farms will subsequently boost the adoption of geotechnical construction services during the forecast period.
Geotechnical Construction Services Market Report Segmentation Analysis
Key segments that contributed to the derivation of the geotechnical construction services market analysis are type and services.
- Based on the type, the market is divided into underground city space, slope and excavation, ground and foundation. The panel door segment held a larger market share in 2023.
- Based on mechanism, the global geotechnical construction services market is divided into below marine site characterization, site assessment and cleanup, site engineering and design, environmental planning and management, and others. The swinging segment held a larger market share in 2023.
Geotechnical Construction Services Market Share Analysis by Geography
The scope of the geotechnical construction services market report encompasses North America (the US, Canada, and Mexico), Europe (Spain, the UK, Germany, France, Italy, and the Rest of Europe), Asia Pacific (South Korea, China, India, Japan, Australia, and the Rest of Asia Pacific), the Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America). In terms of revenue, APAC dominated the geotechnical construction services market share in 2023. North America is the second-largest contributor to the global geotechnical construction services market, followed by Europe.
Geotechnical Construction Services Market Report Scope
Geotechnical Construction Services Market News and Recent Developments
The geotechnical construction services market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for geotechnical construction services market and strategies:
- In July 2021, HDR formed a dedicated, multi-disciplinary building engineering services practice in Canada to expand the long-standing architecture and engineering portfolio for Canadian clients. The move follows the July 2019 acquisition of Hurley Palmer Flatt Group, a U.K.-based independent engineering consultancy providing solutions for the built environment. (Source: HDR, Press Release/Company Website/Newsletter)
Geotechnical Construction Services Market Report Coverage and Deliverables
The “Geotechnical Construction Services Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed Porter’s Five Forces analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles with SWOT analysis
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, and Service
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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