The global demand for Geotechnical Services Market is presumed to reach the market size of nearly USD 6.67 BN by 2030 from USD 3.77 BN in 2022 with a CAGR of 7.4% under the study period 2023 - 2030.
Geotechnical services helps to determine whether a site is fit for a particular construction project. Geotechnical engineering is a civil engineering discipline that works on the theory of soil and rock mechanics to investigate the physical properties of the earth's materials. Geotechnical services include drilling a deep hole on the ground, collecting soil samples, testing the sample, analyzing the test report, and making appropriate foundation recommendations. Such services play an important role when planning major infrastructures like high-rise buildings, bridges, railways, and tunnels, and similar onshore and offshore construction projects. Besides construction, geotechnical services are also used in the oil and gas and mining industry.
Market Dynamics
The key factors driving the geotechnical services market are the growth of the construction and infrastructure industry, increasing demand for residential and commercial space, and technological advancements. Moreover, increasing energy consumption owing to population growth and industrial development demands increased fuel production. As a result, oil fields are being explored in deeper and remote offshore regions requiring geotechnical services. Furthermore, allocation of funds by the government in order to improve geotechnical infrastructure and significant growth of the real estate industry in developing countries are expected to boost geotechnical services market growth. However, high cost, dearth of skilled manpower, and impact of the Covid-19 pandemic may adversely affect the growth of the geotechnical services market.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of geotechnical services. The growth and trends of geotechnical services industry provide a holistic approach to this study.
Market Segmentation
This section of the geotechnical services market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Type
- Underground City Space
- Slope And Excavation
- Ground And Foundation
By End-user
- Municipal
- Bridge And Tunnel
- Oil & Gas
- Mining
- Marine
- Building Construction
- Others
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Geotechnical Services market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Geotechnical Services Market Share by Region (Representative Graph)
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The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the Geotechnical Services market include AECOM (U.S.), Kiewit Corporation (U.S.), Stantec (Canada), Fugro (Netherlands), WSP (Canada), EGS Survey (U.K), Gardline Limited (U.K), Arup (U.K), HDR (U.S.), Geosyntec (U.S.), Geoquip Marine Group (Switzerland). This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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