The Geotechnical Services Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Geotechnical Services Global Market Report 2024, The geotechnical services market size has grown strongly in recent years. It will grow from $2.19 billion in 2023 to $2.31 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to land use changes, military and defense projects, transportation expansion, environmental awareness, urban development.
The geotechnical services market size is expected to see strong growth in the next few years. It will grow to $2.88 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to resilience planning, mining industry demand, urbanization and population growth, renewable energy development, climate change impact. Major trends in the forecast period include infrastructure development, urbanization, natural disaster mitigation, energy sector expansion, mining and exploration.
The rising investments in wind energy are expected to propel the growth of the geotechnical services market going forward. The technique of using the wind to generate mechanical power or electricity is referred to as wind energy. It necessitates the use of particularly tailored geotechnical exploration and data analysis approaches to managing risks at various phases of project development. For instance, according to the U.S. Department of Energy, the offshore wind pipeline in the United States rose by 24% year over year, with 35,324 MW at various phases of development. Therefore, the rising investment in wind energy is driving the growth of the geotechnical services market.
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The geotechnical services market covered in this report is segmented –
1) By Product Type: Underground City Space Engineering, Slope And Excavation Engineering, Ground And Foundation Engineering
2) By Networking Technology: Wired, Wireless
3) By Application: Municipal Engineering, Hydraulic Engineering, Bridge And Tunnel Engineering, Mining Engineering, Marine Engineering, National Defense Engineering, Building Construction, Other Applications
Major companies operating in the geotechnical services market are developing advanced technologies, such as geotechnical data management platforms, to meet larger customer bases, increase sales, and increase revenue. A geotechnical data management platform is a comprehensive software solution designed to collect, store, analyze, and visualize geotechnical data generated during various phases of construction and engineering projects. For instance, in October 2023, Soil Instruments Limited, a UK-based company that designs, develops, manufactures, and sells geotechnical and structural monitoring instrumentation, launched Sensly, a data monitoring software. The unique Sensly software, positioned to replace the current Argus platform, marks a substantial advancement in geotechnical data management. Operating on a secure cloud technology platform, Sensly introduces a myriad of unparalleled features tailored to meet the dynamic requirements of geotechnical professionals. With an intuitive and user-friendly interface, the software ensures a seamless and efficient experience for users across all levels of expertise, distinguishing itself as a unique and innovative solution in the realm of data monitoring
The geotechnical services market report table of contents includes:
1. Executive Summary
2. Geotechnical Services Market Characteristics
3. Geotechnical Services Market Trends And Strategies
4. Geotechnical Services Market – Macro Economic Scenario
5. Global Geotechnical Services Market Size and Growth
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26. South America Geotechnical Services Market
27. Brazil Geotechnical Services Market
28. Middle East Geotechnical Services Market
29. Africa Geotechnical Services Market
30. Geotechnical Services Market Competitive Landscape And Company Profiles
Top Major Players:
- AECOM Technology Corporation
- AMEC Engineering
- Arup Group
- Bechtel Group
- CH2M HILL
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