Geotechnical Engineering Services Market

Geotechnical Engineering 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): Market Size, Trends, And Global Forecast 2023-2031

Manufacturing & Construction | August 2022 | Report ID: EMR0026 | Pages: 160

Market Analysis

The global geotechnical engineering services market size was valued at $2.3 billion in 2022, and is projected to reach $5.2 billion by 2031, growing at a CAGR of 7.7% from 2023 to 2031. The global geotechnical engineering service market is witnessing rapid growth with rising investments in the development of resilient structures. The assessment of soil for proper foundational engineering is vital for any infrastructure development project, which ultimately raises the need for geotechnical engineering services. Geotechnical engineering is a branch of civil engineering that studies materials on the earth's surface. Geotechnical services are used to plan infrastructure such as tunnels & bridges and as well as other onshore and offshore constructions. Mathematical computations and assessing load-bearing capacity, as well as deformation in man-made structures, are all included in the geotechnical engineering services. The expanding global building and infrastructure business is a major driver in the global geotechnical engineering services market. 

Market Growth

Geotechnical services are becoming more popular during the forecast period as they are being significantly used to determine the heat resilience of backfill resources necessary for transmission lines and pipelines, as well as sewage disposal and subterranean warehouse facilities. Geotechnical engineering services aid in the identification of issues and the avoidance of costly delays in construction, redevelopment, and engineering projects.

Their significant use in extractive sectors like open-cast and underground mining, as well as petroleum extraction, along with their deployment for assessing natural probabilities like earthquakes and landslides, are contributing to market growth. Continuous growth in urbanization, a breakthrough in green building materials, rising investments in infrastructural developments, particularly in developing countries, and the relevance of geotechnical engineering services in planning and lowering the risk associated with project development and long-term investment are fueling market expansion.

The addition of investments in wind energy is anticipated to propel the growth of the geotechnical engineering services request going forward. The practise of using the wind to induce mechanical power or electricity is referred to as "wind energy." It necessitates the application of specially adapted geotechnical discourse and data analysis approaches to manage pitfalls at various stages of design development. For illustration, wind energy is reckoned to require $25.6 billion in investment in the United States in 2021, according to the U.S. Department of Energy. The coastal wind channel in the United States rose by 25 percent over time, reaching 35, 325 MW at various phases of development. Thus, the rising investment in wind energy is driving the growth of the request for geotechnical engineering services.

REPORT SCOPE & SEGMENTATION:

Report Attribute

Details

Projected Market Value (2031)

5.2 billion

Estimated Market Value (2022)

2.3 billion

Base Year

2022

Forecast Years

2023 - 2031

Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- By Type, By Application, and Region

Segments Covered

By Application, By Type, and Region

Forecast Units

Value (USD Billion), and Volume (Units)

Quantitative Units

Revenue in USD million/billion and CAGR from 2023 to 2031

Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World

Countries Covered

U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others

Report Coverage

Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.

Delivery Format

Delivered as an attached PDF and Excel through email, according to the purchase option.

 

Ukraine-Russia War Impact on the Energy and Power Industry

The Ukraine-Russia war will harm the energy and power sectors for an extended period. With the Russia as the world's second-largest oil producer and Europe as one of its greatest customers, one of the significant consequences of Russia's conflict with Ukraine has been a surge in oil prices, which have pushed the price of oil to nearly $145 per barrel for the first time in over a decade. Imports of components for batteries, microchips, auto parts, and petrochemical manufacturing, in particular, may be imperilled. Russia is the world's third-largest producer of aluminium and nickel, both of which are essential components in the creation of lithium-ion batteries for electric vehicles, the automotive sector, and other applications. Ukraine is a larger producer of rare gases such as neon, argon, krypton, and xenon, which are required in the manufacture of microchips. Disruptions in these markets might worsen the "chip crisis," which is already wreaking havoc as a consequence of the coronavirus outbreak. In addition, disruptions in imports and supply chains always affect demand and prices, which may influence production.

Segment Analysis

By Type

By type, the underground city space segment accounted for around 43.8% of the geotechnical services market share in 2021. owing to its increased tunnel construction and underground activities in the industrial and residential sectors in markets in Asia-Pacific, the Middle East, and Africa.

Ground and foundation engineering dominates the global geotechnical engineering service market owing to the high demand for infrastructure development. Foundation engineering forms the base for the development of all different kinds of infrastructure, from residential engineering to megastructures. However, underground city space engineering is witnessing rapid growth, redevelopment, and expansion of cities, especially in developing countries, which is generating huge demand for underground city space engineering.

By Application

Application Bases The municipal sector is expected to be the most prominent geotechnical engineering services market segment from 2022 to 2031. Geotechnical engineering is significant because it helps prevent problems before they occur. Buildings could suffer considerable damage as a result of an earthquake, slope stability shifting, continuous settlement, and other factors without the computations and assessment given by a Geotech. Building construction is expected to be the fastest-growing sector in the market. Geotechnical investigations are carried out by Geotech engineers and engineering geologists to learn about the physical qualities of the soil and rock beneath a location. Geotechnical services in construction aid in the design, construction, maintenance, and operation of public, private, and government-sector construction projects, such as roads and buildings.

Regional Analysis

North America (the United States, Canada, and Mexico) will dominate the geotechnical engineering services market from 2022 to 2031. Regional market expansion is fueled by an increase in demand for sustainable construction as a result of increased environmental awareness. Also, the availability of natural gas reserves and other oil and gas activities in this region are contributing to additional growth.

Due to rising infrastructure development in this region, Asia-Pacific accounts for the majority of the global geotechnical engineering services market. The presence of major developing economies like China, India, Japan, Korea, and Indonesia and their rapid industrial growth are contributing to geotechnical engineering service market growth. The huge investments in construction activities make this region a top-leader in employing geotechnical engineering services. The Middle East and Africa segment also accounts for a large share of the global geotechnical engineering service market. The government's emphasis on building and infrastructure development and the presence of different mining industries lead to demand generation for these services in this sector. 

Competitive Landscape

The global geotechnical engineering services market has observed several strategic alliances between key players to launch new products with added functionalities and maintain revenue share and profitability. Organic and inorganic growth strategies by small players have been the highlight of this market.

  • AECOM
  • Stantec
  • Geoquip Marine Group
  • WSP
  • Fugro
  • HDR
  • EGS Survey
  • Gardline Limited
  • Arup
  • Kiewit Corp

Global Geotechnical Engineering Services Market, Segmentations

By Type

  • Underground city space
  • Slope & excavation
  • Ground & foundation

By Application

  • Bridge & tunnel
  • Building construction
  • Marine
  • Mining
  • Municipal
  • Oil & gas
  • Others

Global Geotechnical Engineering Services Market, Regional Outlook

  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Norway
    • Netherlands
    • Sweden
    • United Kingdom
    • France
    • Germany
    • Others
  • North America
    • United States
    • Canada
  • Middle East and Africa
    • Turkey
    • Saudi Arabia
    • Iran
    • United Arab Emirates
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Colombia
    • Others

Questions and Answers About This Report:

Q1. Which region will provide more business opportunities for Geotechnical engineering Services market in future

  • North America region will provide more business opportunities for the geotechnical engineering services market in the coming years.

Q2. At what CAGR is the geotechnical engineering service market projected to grow during the forecast period

  • The geotechnical engineering services market is projected to grow at a 7.7% CAGR between 2023 and 2031.

Q3. How can I get report sample of Geotechnical Engineering Services Market

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

Q4. What are the key benefits of the Geotechnical Engineering Services Market report

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

Q5. What current trends will influence the Geotechnical Engineering Services Market in the next few years

  • Developments in oil and gas projects are anticipated to benefit the geotechnical engineering services market in the coming years.

 

Research Methodology

Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region.  The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.

Data Collection

Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.

Primary Research

After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market. 

Secondary Research

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Top-Down Approach & Bottom-Up Approach

In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.

In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.

This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.

Market Analysis & size Estimation

Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.

Quality Checking & Final Review

The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.

 

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