Europe Geotechnical Construction Services Market to Grow at 3.8 % CAGR to Garner US$ 414.07 Million by 2028

The Europe geotechnical construction services market is expected to grow from US$ 319.83 million in 2021 to US$ 414.07 million by 2028; it is estimated to grow at a CAGR of 3.8% from 2021 to 2028.

Minerals are the backbone of human civilization as their use in different applications propelled the development of human civilization. Mineral and products made from minerals are used across industries such as power generation, manufacturing, chemical and petrochemical, healthcare & pharmaceutical, and construction. Setting up a mining site requires geotechnical and earthworks design expertise for surface and underground mapping; underground support analysis; stope, shaft, decline, drift, and tunnel designing; subsidence studies; shaft and drift investigation and designing; geological outcrop mapping; surface geophysical surveys; clean water, industrial, and tailings disposal dams designing; and others.

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Currently, coal, gold, iron ore, aluminum, and copper are among the most mined minerals due to their vast industrial use. Further, the aggregate revenue of the top 40 mining companies increased steadily from 2016 to 2019. However, in 2020, the outbreak of COVID-19 led to a fall in revenues. Further, with the elevating rate of urbanization and the growing need for energy, the demand for minerals is rising significantly. Such a growing need for minerals is supporting the proliferation of the mining industry, thereby propelling the Europe geotechnical construction services market growth.

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Major Key players covered in this report:

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

EUROPE GEOTECHNICAL CONSTRUCTION SERVICES MARKET SEGMENTATION

Europe Geotechnical Construction Services Market, by Type

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

Europe Geotechnical Construction Services Market, by Service

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

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In UK, Europe got adversely affected by the COVID-19 pandemic.. The region is expected to suffer an economic hit due to the lack of revenue from various industries. Additionally, with the outbreak of another variant of COVID-19 in the UK, geotechnical construction services manufacturing is expected to get hampered. The region is a significant manufacturing and industrial hub for sectors such as healthcare, aviation, manufacturing, automotive, and energy & power. However, due to the COVID-19 outbreak, many businesses in Europe are facing financial challenges as they had to reduce their activities substantially, owing to the lack of workforce, government-imposed restrictions, and decrease in sales.

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This release was published on openPR.