Geotechnical Construction Services Market Growth Sturdy at 6.1% CAGR to Outstrip $3,192.5 Million by 2028

According to our latest market study on" "Geotechnical Construction Services Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Underground City Space, Slope and Excavation, and Ground and Foundation) and Service (Marine Site Characterization, Site Assessment and Cleanup, Site Engineering and Design, Environmental Planning and Management, and Others)"

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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Companies Profiled in this report includes: Colfax Corporation,Flowserve Corporation,GRUNWL,Grundfos,ITT Gould,Pumps,KSB SE,Kirloskar Brothers,Seepex,Sulzer,WILO SE

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.

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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

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This release was published on openPR.