Press release
Rapidly Expanding Geotechnical Services Market: Projected To Reach $3.07 Billion By 2029 With A 6.2% CAGR
Geotechnical Services Market
What Is The Projected Market Size Of The Global Geotechnical Services Market And Its Growth Rate?
The geotechnical services market has seen strong growth due to factors such as land use changes, military and defense projects, transportation expansion, environmental awareness, and urban development. Key figures include:
• 2024 Market Size: $2.29 billion
• 2025 Market Size: $2.42 billion (5.4% CAGR)
• 2029 Market Size: $3.07 billion (6.2% CAGR)
Key factors behind the forecasted growth include resilience planning, mining industry demand, population growth, renewable energy development, and climate change impact.
What Is Driving The Growth In The Geotechnical Services Market?
The growth of the geotechnical services market is being powered by investments in wind energy. Wind energy, which uses wind to generate mechanical power or electricity, requires specialized geotechnical exploration and data analysis approaches to manage risks at various project phases. For instance, the offshore wind pipeline in the United States, as reported by the U.S. Department of Energy, grew by 24% year on year, with 35,324 MW in various stages of development, emphasizing the importance of the wind energy sector in driving the growth of the geotechnical services market.
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Who Are the Key Players Driving Geotechnical Services Market Growth?
The key players driving the geotechnical services market include:
• AECOM Technology Corporation
• AMEC Engineering
• Arup Group
• Bechtel Group
• CH2M HILL
• Fugro
• Gardline Limited
• Geoquip Marine Group
• HDR Inc
• Jacobs Engineering Group
• Kiewit Corporation
• Stantec
• Tetra Tech
• WSP
• Atkins
• BGC Engineering
• Black & Veatch
• Coffey International
• Golder Associates
• Intertek Group
• Mott MacDonald
• Ramboll Group
• SNC-Lavalin Group
• Terracon Consultants Inc.
What Are The Key Trends In The Geotechnical Services Market?
Key trends in the geotechnical services market include:
• Infrastructure development
• Increased urbanization
• Mitigation of natural disasters
• Expansion of the energy sector
• Mining and exploration
What Are The Segments Of The Global Geotechnical Services Market?
Geotechnical services market segments include:
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
Which Region Leads The Geotechnical Services Market?
North America was the leading region in the geotechnical services market in 2024. The other regions covered in the report include Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa.
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What Is Covered In The Geotechnical Services Market Global Market Report?
- Market Size Analysis: Analyze the Geotechnical Services Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Geotechnical Services Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Geotechnical Services Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Geotechnical Services Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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