Geotechnical Services Market
Geotechnical Services Market Forecasts to 2030 - Global Analysis By Type (Slope & Excavation, Underground City Space and Ground & Foundation), Application and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $2.8 BN |
|
Projected Year Value (2030) |
US $4.9 BN |
|
CAGR (2023 - 2030) |
8.4% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
North America |
According to Stratistics MRC, the Global Geotechnical Services Market is accounted for $2.8 billion in 2023 and is expected to reach $4.9 billion by 2030 growing at a CAGR of 8.4% during the forecast period. Geotechnical services involve assessing and analyzing the physical properties of the Earth's subsurface for construction, infrastructure, and environmental projects. Through techniques like soil testing, geophysical surveys, and foundation design, these services ensure stable and safe structures. Geotechnical experts investigate factors such as soil composition, groundwater conditions, and seismic risks to inform engineering decisions. From site investigations to slope stability analyses, these services are integral in mitigating geological risks and optimizing foundation designs. By providing valuable insights into subsurface conditions, geotechnical services play a pivotal role in fostering sustainable and resilient development across various industries worldwide.
Market Dynamics:
Driver:
Increasing infrastructure development and urbanization
As cities expand and construction activities surge, the demand for geotechnical services rises to assess soil conditions, foundation design, and overall project stability. The market thrives on its pivotal role in ensuring safe and sustainable construction. Growing urbanization fuels the need for comprehensive geological studies to address subsurface challenges, emphasizing the importance of geotechnical expertise. Thus the surge in infrastructure projects, including roads, bridges, and buildings, enhances the market's significance, making geotechnical services indispensable for mitigating risks and ensuring the long-term stability.
Restraint:
Intense competition and price pressure
Intense competition often leads to a race to the bottom in terms of pricing. Companies may lower their prices to attract clients, resulting in reduced profit margins. This can affect the financial sustainability of geotechnical service providers and limit their ability to invest in research, development, and innovation. Moreover some companies may merge or consolidate to achieve economies of scale and increase their market share. While this may lead to short-term stability for the surviving entities, it can reduce overall market diversity and potentially limit client choices.
Opportunity:
Increasing investments in renewable energy development
Building renewable energy projects like wind farms, solar parks, and hydroelectric dams requires thorough geotechnical investigations. Geotechnical engineers assess factors like soil stability, foundation suitability, and potential seismic hazards to ensure safe and sustainable construction. Thus geotechnical services play a crucial role in ensuring the environmental sustainability of renewable energy projects. They can also help minimize the project's environmental footprint by identifying and mitigating potential risks like soil contamination or disruption of local ecosystems boosting its impact towards the growth of the market.
Threat:
Limited awareness and understanding
If potential clients, including project developers, contractors, and government agencies, have limited awareness of the importance of geotechnical services, they may underestimate the value of these services in construction projects. This can lead to reduced demand for geotechnical services, as clients may not fully grasp the impact that inadequate site assessments can have on project success and safety and can lead to underutilization of their services and, in turn, compromise the overall quality of construction projects.
Covid-19 Impact
Construction activities faced delays due to lockdowns, supply chain interruptions, and economic uncertainties. Geotechnical projects, often considered essential, continued but experienced logistical challenges. As economies recover, the market is expected to rebound, driven by infrastructure investments and the need for resilient construction. The pandemic underscored the importance of adaptable geotechnical solutions in navigating uncertainties, potentially fostering innovation and technology adoption in the industry's post-pandemic resurgence.
The slope & excavation segment is expected to be the largest during the forecast period
The slope & excavation segment is estimated to have a lucrative growth, because slope stability and excavation projects significantly drive the geotechnical services market. These activities require specialized expertise to assess soil conditions, design support systems, and mitigate risks like landslides. Growing infrastructure development, particularly in developing nations, fuels demand for these services to ensure safe and stable constructions on slopes and during excavations. Furthermore this segment is expected to witness consistent growth due to increasing urbanization and stricter regulations mandating geotechnical investigations for such projects.
The building construction segment is expected to have the highest CAGR during the forecast period
The building construction segment is anticipated to witness the highest CAGR growth during the forecast period, driving demand for soil analysis, foundation design, and risk mitigation. As urbanization expands, the market grows with the need for assessments ensuring structural stability. Geotechnical services become crucial in addressing subsurface challenges, optimizing foundation solutions, and complying with safety regulations. Thus the complexity of modern structures and the importance of sustainable practices further elevate the role of geotechnical experts, emphasizing their impact on construction quality.
Region with largest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to the increasing infrastructure development, urbanization, and demand for sustainable construction practices. Key factors include rising investments in transportation, energy, and real estate projects, as well as a growing awareness of geological risks. Geotechnical services encompass site investigations, soil testing, foundation design, and slope stability analysis. Furthermore major players in the region offer comprehensive solutions to address the diverse geotechnical challenges.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period, owing to the region's emphasis on sustainable practices and regulatory compliance further propels the demand for specialized geotechnical expertise and advances in geotechnical testing methods and equipment may impact the efficiency and accuracy of services, potentially influencing the market. With a competitive landscape featuring established players, the North America Geotechnical Services Market is poised for sustained expansion.
Key players in the market
Some of the key players in the Geotechnical Services Market include AECOM, Kiewit Corporation, Stantec, Fugro, EGS Survey, Gardline Limited, Arup, Geosyntec , HDR, Geoquip Marine Group, Parsons Corporation, Royal HaskoningDHV, Mott MacDonald, Jacobs Engineering Group, Schlumberger, Halliburton and Terracon
Key Developments:
In February 2024, AECOM is partnering with key clients to deliver the next generation of major U.S. rail projects. The program will provide approximately $16.4 billion in total funding for critical rail infrastructure along the heavily-used Northeast Corridor and nationwide.
In February 2024, Stantec and project partners deliver six schools in 2.5 years for Prince George’s County Public Schools in Maryland. The program was delivered as a 30-year public-private partnership by the Prince George’s County Education & Community Partners
In January 2023, Kiewit acquired Weeks Marine, Inc. and its subsidiaries. This adds marine engineering, construction, dredging, and tunneling services to Kiewit's portfolio. The acquisition also includes Healy Tibbitts Builders, Inc., McNally International, Inc., and North American Aggregates.
Types Covered:
• Slope & Excavation
• Underground City Space
• Ground & Foundation
Applications Covered:
• Building Construction
• Municipal Engineering
• Oil & Gas
• Mining
• Marine Engineering
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Geotechnical Services Market, By Type
5.1 Introduction
5.2 Slope & Excavation
5.3 Underground City Space
5.4 Ground & Foundation
6 Global Geotechnical Services Market, By Application
6.1 Introduction
6.2 Building Construction
6.3 Municipal Engineering
6.4 Oil & Gas
6.5 Mining
6.6 Marine Engineering
6.7 Other Applications
7 Global Geotechnical Services Market, By Geography
7.1 Introduction
7.2 North America
7.2.1 US
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 UK
7.3.3 Italy
7.3.4 France
7.3.5 Spain
7.3.6 Rest of Europe
7.4 Asia Pacific
7.4.1 Japan
7.4.2 China
7.4.3 India
7.4.4 Australia
7.4.5 New Zealand
7.4.6 South Korea
7.4.7 Rest of Asia Pacific
7.5 South America
7.5.1 Argentina
7.5.2 Brazil
7.5.3 Chile
7.5.4 Rest of South America
7.6 Middle East & Africa
7.6.1 Saudi Arabia
7.6.2 UAE
7.6.3 Qatar
7.6.4 South Africa
7.6.5 Rest of Middle East & Africa
8 Key Developments
8.1 Agreements, Partnerships, Collaborations and Joint Ventures
8.2 Acquisitions & Mergers
8.3 New Product Launch
8.4 Expansions
8.5 Other Key Strategies
9 Company Profiling
9.1 AECOM
9.2 Kiewit Corporation
9.3 Stantec
9.4 Fugro
9.5 EGS Survey
9.6 Gardline Limited
9.7 Arup
9.8 Geosyntec
9.9 HDR
9.10 Geoquip Marine Group
9.11 Parsons Corporation
9.12 Royal HaskoningDHV
9.13 Mott MacDonald
9.14 Jacobs Engineering Group
9.15 Schlumberger
9.16 Halliburton
9.17 Terracon
List of Tables
1 Global Geotechnical Services Market Outlook, By Region (2021-2030) ($MN)
2 Global Geotechnical Services Market Outlook, By Type (2021-2030) ($MN)
3 Global Geotechnical Services Market Outlook, By Slope & Excavation (2021-2030) ($MN)
4 Global Geotechnical Services Market Outlook, By Underground City Space (2021-2030) ($MN)
5 Global Geotechnical Services Market Outlook, By Ground & Foundation (2021-2030) ($MN)
6 Global Geotechnical Services Market Outlook, By Application (2021-2030) ($MN)
7 Global Geotechnical Services Market Outlook, By Building Construction (2021-2030) ($MN)
8 Global Geotechnical Services Market Outlook, By Municipal Engineering (2021-2030) ($MN)
9 Global Geotechnical Services Market Outlook, By Oil & Gas (2021-2030) ($MN)
10 Global Geotechnical Services Market Outlook, By Mining (2021-2030) ($MN)
11 Global Geotechnical Services Market Outlook, By Marine Engineering (2021-2030) ($MN)
12 Global Geotechnical Services Market Outlook, By Other Applications (2021-2030) ($MN)
13 North America Geotechnical Services Market Outlook, By Country (2021-2030) ($MN)
14 North America Geotechnical Services Market Outlook, By Type (2021-2030) ($MN)
15 North America Geotechnical Services Market Outlook, By Slope & Excavation (2021-2030) ($MN)
16 North America Geotechnical Services Market Outlook, By Underground City Space (2021-2030) ($MN)
17 North America Geotechnical Services Market Outlook, By Ground & Foundation (2021-2030) ($MN)
18 North America Geotechnical Services Market Outlook, By Application (2021-2030) ($MN)
19 North America Geotechnical Services Market Outlook, By Building Construction (2021-2030) ($MN)
20 North America Geotechnical Services Market Outlook, By Municipal Engineering (2021-2030) ($MN)
21 North America Geotechnical Services Market Outlook, By Oil & Gas (2021-2030) ($MN)
22 North America Geotechnical Services Market Outlook, By Mining (2021-2030) ($MN)
23 North America Geotechnical Services Market Outlook, By Marine Engineering (2021-2030) ($MN)
24 North America Geotechnical Services Market Outlook, By Other Applications (2021-2030) ($MN)
25 Europe Geotechnical Services Market Outlook, By Country (2021-2030) ($MN)
26 Europe Geotechnical Services Market Outlook, By Type (2021-2030) ($MN)
27 Europe Geotechnical Services Market Outlook, By Slope & Excavation (2021-2030) ($MN)
28 Europe Geotechnical Services Market Outlook, By Underground City Space (2021-2030) ($MN)
29 Europe Geotechnical Services Market Outlook, By Ground & Foundation (2021-2030) ($MN)
30 Europe Geotechnical Services Market Outlook, By Application (2021-2030) ($MN)
31 Europe Geotechnical Services Market Outlook, By Building Construction (2021-2030) ($MN)
32 Europe Geotechnical Services Market Outlook, By Municipal Engineering (2021-2030) ($MN)
33 Europe Geotechnical Services Market Outlook, By Oil & Gas (2021-2030) ($MN)
34 Europe Geotechnical Services Market Outlook, By Mining (2021-2030) ($MN)
35 Europe Geotechnical Services Market Outlook, By Marine Engineering (2021-2030) ($MN)
36 Europe Geotechnical Services Market Outlook, By Other Applications (2021-2030) ($MN)
37 Asia Pacific Geotechnical Services Market Outlook, By Country (2021-2030) ($MN)
38 Asia Pacific Geotechnical Services Market Outlook, By Type (2021-2030) ($MN)
39 Asia Pacific Geotechnical Services Market Outlook, By Slope & Excavation (2021-2030) ($MN)
40 Asia Pacific Geotechnical Services Market Outlook, By Underground City Space (2021-2030) ($MN)
41 Asia Pacific Geotechnical Services Market Outlook, By Ground & Foundation (2021-2030) ($MN)
42 Asia Pacific Geotechnical Services Market Outlook, By Application (2021-2030) ($MN)
43 Asia Pacific Geotechnical Services Market Outlook, By Building Construction (2021-2030) ($MN)
44 Asia Pacific Geotechnical Services Market Outlook, By Municipal Engineering (2021-2030) ($MN)
45 Asia Pacific Geotechnical Services Market Outlook, By Oil & Gas (2021-2030) ($MN)
46 Asia Pacific Geotechnical Services Market Outlook, By Mining (2021-2030) ($MN)
47 Asia Pacific Geotechnical Services Market Outlook, By Marine Engineering (2021-2030) ($MN)
48 Asia Pacific Geotechnical Services Market Outlook, By Other Applications (2021-2030) ($MN)
49 South America Geotechnical Services Market Outlook, By Country (2021-2030) ($MN)
50 South America Geotechnical Services Market Outlook, By Type (2021-2030) ($MN)
51 South America Geotechnical Services Market Outlook, By Slope & Excavation (2021-2030) ($MN)
52 South America Geotechnical Services Market Outlook, By Underground City Space (2021-2030) ($MN)
53 South America Geotechnical Services Market Outlook, By Ground & Foundation (2021-2030) ($MN)
54 South America Geotechnical Services Market Outlook, By Application (2021-2030) ($MN)
55 South America Geotechnical Services Market Outlook, By Building Construction (2021-2030) ($MN)
56 South America Geotechnical Services Market Outlook, By Municipal Engineering (2021-2030) ($MN)
57 South America Geotechnical Services Market Outlook, By Oil & Gas (2021-2030) ($MN)
58 South America Geotechnical Services Market Outlook, By Mining (2021-2030) ($MN)
59 South America Geotechnical Services Market Outlook, By Marine Engineering (2021-2030) ($MN)
60 South America Geotechnical Services Market Outlook, By Other Applications (2021-2030) ($MN)
61 Middle East & Africa Geotechnical Services Market Outlook, By Country (2021-2030) ($MN)
62 Middle East & Africa Geotechnical Services Market Outlook, By Type (2021-2030) ($MN)
63 Middle East & Africa Geotechnical Services Market Outlook, By Slope & Excavation (2021-2030) ($MN)
64 Middle East & Africa Geotechnical Services Market Outlook, By Underground City Space (2021-2030) ($MN)
65 Middle East & Africa Geotechnical Services Market Outlook, By Ground & Foundation (2021-2030) ($MN)
66 Middle East & Africa Geotechnical Services Market Outlook, By Application (2021-2030) ($MN)
67 Middle East & Africa Geotechnical Services Market Outlook, By Building Construction (2021-2030) ($MN)
68 Middle East & Africa Geotechnical Services Market Outlook, By Municipal Engineering (2021-2030) ($MN)
69 Middle East & Africa Geotechnical Services Market Outlook, By Oil & Gas (2021-2030) ($MN)
70 Middle East & Africa Geotechnical Services Market Outlook, By Mining (2021-2030) ($MN)
71 Middle East & Africa Geotechnical Services Market Outlook, By Marine Engineering (2021-2030) ($MN)
72 Middle East & Africa Geotechnical Services Market Outlook, By Other Applications (2021-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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