Geotechnical Construction Services Market Size, Share, and Analysis by 2028

The geotechnical construction services market is expected to grow from US$ 2,112.5 million in 2021 to US$ 3,192.5 million by 2028; it is estimated to grow at a CAGR of 6.1% during 2021–2028.

The growth of 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 coming years, advances in oil and gas projects are expected to benefit the geotechnical instrumentation and monitoring industry. The emphasis on constructing transportation, industrial, and commercial infrastructure has led the construction and infrastructure sector to be one of the largest sectors in North America. The US government signed a bipartisan infrastructure bill worth more than US$ 1 trillion in November 2021, allocating US$ 550 billion in new funds for transportation and utilities; US$ 110 billion for roads, bridges, and other major projects such as freight and passenger rail; and US$ 39 billion to enhance the country’s public transit systems. Such projects are gaining high traction in the US, which is making the country grow in the North American region.

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Published Report - Geotechnical Construction Services Market: Strategic Insights

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Impact of COVID-19 Pandemic on Geotechnical Construction Services Market

In 2020, the world economy suffered significant consequences, and the effects are expected to endure to some extent in the coming years. The outbreak has led to disruptions in many primary industries, such as FMCG, BFSI, Electronics, IT & Telecom, Retail, and Hospitality. Due to COVID-19 outbreak, a sharp decline in the growth of mentioned industries can limit the geotechnical construction services market growth. Factory shutdowns, travel and trade bans, and border lockdowns to combat and contain the infection have adversely impacted the working of many retail, hospitality, and FMCG industries across the world.

Lucrative Regions for Geotechnical Construction Service Providers

Geotechnical Construction Services Market Insights

Use of Renewable Technologies for Cleaner and Greener Environment

With the escalating prices of fossil fuel energy, making it non-feasible for industrial use, organizations are heavily opting for renewable energy to leverage the benefits such as decreased operational costs, and government support in the form of tax incentives and subsidies. Busch-Jaeger, a German subsidiary of ABB, runs completely on solar power on sunny days. In 2018, Apple Inc. claimed that the company runs completely on renewable energy as a part of its commitment to climate change. The Tesla Giga factory in Nevada, US, after its completion, aims to run completely on clean energy. Likewise, various companies are investing in the development of dedicated in-house clean energy sources by harnessing wind, solar, geothermal energy, and bioenergy. Moreover, companies are exploring options to develop new facilities or to relocate their existing facilities to regions that are in proximity to renewable and clean energy sources. Geotechnical construction expertise plays a crucial role in setting up the infrastructure for clean energy facilities. Thus, with the growing corporate preference for the use of clean energy, the geotechnical construction services market is projected to witness significant growth in the coming years.

Type-Based Market Insights

Based on type, the geotechnical construction services market is segmented into underground city space, slope and excavation, and ground and foundation. The underground city space segment led the market in 2020. Owing to the utilization of underground space, which is one of the prerequisites for the development of megacities, underground city space type is rising at a massive rate.

Geotechnical Construction Services Market, by Offering, 2020 and 2028 (%)

Service-Based Market Insights

Based on services, the geotechnical construction services market is segmented into marine site characterization, site assessment and cleanup, site engineering and design, environmental planning and management, and others. In 2020, the site engineering and design segment led the market. With the growing complexity of the modern-day infrastructure and buildings, the emphasis on safety, optimum space usage, and energy efficiency is also increasing. The governments of countries in APAC and MEA are prioritizing economic development and are investing in the enhancement of transport infrastructure.

Players operating in the geotechnical construction services market adopt strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:

• In June 2020, The IJsseldijk Zwolle-Olst project and the Krachtige IJsseldijken Krimpenerwaard, both in the Netherlands, have been acquired by Royal Boskalis Westminster N.V. (Boskalis). The initiatives are a part of the national Flood Protection Program, which brings together the Dutch government and regional water boards to protect the country against flooding. According to current estimates, the total contract value for Boskalis is around US$ 224 million (EUR 200 million).
• 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 global geotechnical construction services market has been segmented as mentioned below:

By Type

• Underground City Space
• Slope and Excavation
• Ground and Foundation

By Service

• Marine Site Characterization
• Site Assessment and Cleanup
• Site Engineering and Design
• Environmental Planning and Management
• Others

By Geography

• North America
  • US
  • Canada
  • Mexico
• Europe
  • France
  • Germany
  • Italy
  • UK
  • Russia
  • Rest of Europe
• Asia Pacific (APAC)
  • China
  • India
  • South Korea
  • Japan
  • Australia
  • Rest of APAC
• Middle East & Africa (MEA)
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA
• South America (SAM)
  • Brazil
  • Argentina
  • Rest of SAM

Company Profiles

• Arup
• EGS
• Fugro
• Gardline Limited
• Geosyntec Consultants, Inc.
• HDR
• Kiewit Corporation
• Stantec Inc.
• Wagman, Inc.
• WSP

Published Report - Geotechnical Construction Services Market Regional Insights

The regional trends and factors influencing the Published Report - Geotechnical Construction Services Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Published Report - Geotechnical Construction Services Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Published Report - Geotechnical Construction Services Market Report Scope

Published Report - Geotechnical Construction Services Market Players Density: Understanding Its Impact on Business Dynamics

The Published Report - Geotechnical Construction Services Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.