Press release
What's Driving the Underground Facilities Maintenance Market 2025-2034: Impact Of Renewable Energy Demand On Underground Facilities Maintenance
Underground Facilities Maintenance Market Size
The market size for underground facilities maintenance has seen considerable growth in the past few years. Expected to expand from $71.1 billion in 2024 to $75.03 billion in 2025, it promises a compound annual growth rate (CAGR) of 5.5%. This growth observed during the historical period is due to various factors such as the urgency to upgrade and modernise ageing underground structures, the imposition of environmental safety guidelines and regulations, escalating investments in infrastructure, increased construction activities, and the emergence of public-private collaborations.
In the next few years, significant expansion is expected in the underground facilities maintenance market, with its value predicted to escalate to $92.33 $ billion in 2029, boasting a compound annual growth rate (CAGR) of 5.3%. Several factors are contributing to the anticipated increase during the forecast period. These include the escalating demand for renewable energy sources, urbanization, the growth of businesses, increased use of cloud hosting, a greater understanding of the importance of cleanliness, management, maintenance, and safety, along with a surge in the demand for natural gas. The forecast period is also set to witness major trends like technological advancement, the inception of new products, strategic alliances, mergers and acquisitions, integrating IoT for real-time tracking, and progress in material science for effective, long-lasting repairs.
What Are the Main Catalysts for Growth in the Underground Facilities Maintenance Market?
The anticipated rise in the need for renewables is predicted to drive the underground facilities maintenance market's expansion. Renewables, which include resources like solar, wind, and hydropower that naturally regenerate and supply energy without exhausting the earth's resources, are in higher demand. This is due to their potential in mitigating greenhouse gas emissions, decreasing environmental harm, and offering sustainable energy alternatives amid increasing worries regarding climate change and energy security. Maintaining underground facilities helps support the booming demand for renewable energy sources by ensuring the efficient functioning and long lifespan of underground infrastructures like energy storage and geothermal systems. For instance, in January 2024, the International Energy Agency (IEA), located in France, indicated that worldwide additions to renewable electricity capacity reached 507 GW in 2023 and are expected to exceed 738 GW by 2028. As a result, with the rising demand for renewable energy sources, the underground facilities maintenance market is expected to grow.
Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=19741&type=smp
Which Businesses Are at the Forefront of Underground Facilities Maintenance Market Development?
Major companies operating in the underground facilities maintenance market are ACCIONA, Quanta Services, Jacobs Engineering Group Inc., Fluor Corporation, WSP Global Inc., Kiewit Corporation, USIC, AMEC Foster Wheeler Plc., Stantec Inc., Parsons Corporation, Korea District Heating Corporation, Mott MacDonald Group, HDR Inc., BGC Engineering Inc., Ramboll Group AS, GeoStabilization International LLC, Suez Water Inc., Geosyntec Consultants Inc., SK Engineering and Construction Company (SKEC), Keller NA, AINS Group, Stormwater Maintenance Inc., TATA Projects Limited, JAPEX, DMT Group
What Are the Latest Innovations in the Underground Facilities Maintenance Market?
Underground facilities maintenance market's key participants are striving for a competitive advantage through the deployment of cutting-edge innovations like real-time kinematic receivers. These receivers are high-accuracy satellite navigation devices that deliver centimeter-level accuracy using corrective signals from a stationary base station. In May 2024, for example, Subsite Electronics, an American company that develops electronic products for the underground construction sector, released the UtiliGuard 2 RTK (real-time kinematic) receiver. It delivers centimeter-level precision for utility location and mapping. The device offers an extraordinary combination of attributes that enhance utility verification and job site exactitude. This device provides dependable positioning data, facilitating operators to quickly verify installed utilities and adapt the bids according to site-specific requirements. It produces critical understandings of the subterranean infrastructure that are invaluable in avoiding cross bores in future projects. Collating data capture, GPS positioning and a user-friendly interface, it enhances work quality and situational awareness. It comes equipped with a dead-reckoning feature for accurate location in areas with weak GPS signals and a multi-frequency fault-finding component that allows contractors to detect flawed power lines across a frequency range that can be tailored up to 10 kHz.
How Is the Underground Facilities Maintenance Market Segmented?
The underground facilities maintenancemarket covered in this report is segmented -
1) By Type: Underground Cable Maintenance, Underground Pipe Maintenance, Tunnel Maintenance, Other Types
2) By Service: Installation Services, Maintenance Services
3) By Technique: Trenchless, Open-Cut
4) By Material: Concrete, Metal, Plastic
5) By Industry Vertical: Public Works, Utilities, Transportation, Commercial
Subsegments:
1) Underground Cable Maintenance: High-Voltage Cable Maintenance, Fiber Optic Cable Maintenance
2) Underground Pipe Maintenance: Water Pipe Maintenance, Sewer Pipe Maintenance
3) Tunnel Maintenance: Structural Maintenance, Safety Inspection
4) Other Types: Manhole Maintenance, Storm Drain Maintenance
Pre-Book Your Report Now For A Swift Delivery:
https://www.thebusinessresearchcompany.com/report/underground-facilities-maintenance-global-market-report
Where Is the Underground Facilities Maintenance Market Growth Most Prominent?
North America was the largest region in the underground facilities maintenance market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the underground facilities maintenance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Underground Facilities Maintenance Global Market Report?
- Market Size Analysis: Analyze the Underground Facilities Maintenance Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Underground Facilities Maintenance 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 Underground Facilities Maintenance Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Underground Facilities Maintenance Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=19741
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release What's Driving the Underground Facilities Maintenance Market 2025-2034: Impact Of Renewable Energy Demand On Underground Facilities Maintenance here
News-ID: 3871818 • Views: …
More Releases from The Business Research Company
Future of the Renal Denervation Devices Market: Strategic Analysis and Forecast …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Renal Denervation Devices Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market for renal denervation devices has witnessed a substantial expansion in recent times. The market, from being valued at $0.55 billion in 2024, is projected to escalate to $0.74 billion by 2025, exhibiting…
Emerging Trends to Drive Tuberculosis Diagnostics Market Growth at 7.7% CAGR Thr …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Tuberculosis Diagnostics Market Size Growth Forecast: What to Expect by 2025?
Over the past few years, the tuberculosis diagnostics market has seen substantial growth. Projected growth suggests an increase from $2.21 billion in 2024 to $2.34 billion in 2025, at a compound annual growth rate (CAGR) of 5.9%. Factors…
Comprehensive Surgical Sealants And Adhesives Market Forecast 2025-2034: Growth …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Surgical Sealants And Adhesives Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In the past few years, the market size of surgical sealants and adhesives has seen significant growth. The market, which currently stands at $2.75 billion in 2024, is expected to increase to $2.96…
Key Trends Influencing the Growth of the Preoperative Infection Prevention And W …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Preoperative Infection Prevention And Wound Cleansing Devices Market Through 2025?
In the past few years, there has been significant growth in the market size of preoperative infection prevention and wound cleaning devices. The market is projected to expand from $2.18 billion in…
More Releases for Main
TPU (Thermoplastic Polyurethane) Main Industry Applications
TPU (Thermoplastic Polyurethane [https://www.ytlinghua.com/t3-series-tpu/]) is a versatile material with excellent elasticity, wear resistance, and chemical resistance. Here are its main applications :
1. Footwear Industry - Used in shoe soles, heels, and upper parts for high elasticity and durability. - Commonly seen in sports shoes, outdoor footwear, and casual shoes to enhance shock absorption and grip.
2. Automotive Sector [https://www.ytlinghua.com/polyester-type-tpu-h3-series-product/] - Manufactures seals, gaskets, and weather strips for their flexibility and resistance…
Functionality the Main Deterrent with AccountEdge
Brandon, MB--July 28, 2022: With AccountEdge Pro, business owners can organize, process, and report on their financial information so they can focus on their business. Its feature set is built to allow users to handle every aspect of their business including accounting, integrated payroll, sales and purchases, contact management, inventory tracking, online orders, time billing, and more.
AccountEdge is designed to work with all types of small and medium-sized businesses.…
Who Are Berkshire Hathaway's Main Competitors?
Led by renowned investor Warren Buffett, Berkshire Hathaway is involved with multiple sectors of industry, facing different competitors in each one. In the diversified holding sector, Berkshire competes against challengers such as Leucadia National Corporation. Because many of its assets are insurance subsidiaries, Berkshire Hathaway is also a rival of large insurance firms such as The Allstate Corporation. Berkshire is sometimes seen, too, as a management investment company, competing with…
5G infrastructure Market & Its Main Aspects
This market analysis enables the manufacturers with impending 5G infrastructure market trends. A thorough scrutiny of prominent market players or industrialists are vital aspect for planning a business in the market. The global 5G infrastructure market size is projected to reach over USD 48 billion by 2025. The market is witnessing a lot of investment in the 5G infrastructure by MNOs to upgrade its core and access networking infrastructure to…
Space.Cloud.Unit: Main sale postponed
The main sale of the Space.Cloud.Unit (SCU), the world's first cloud construction kit based on blockchain technology, has been postponed indefinitely. CEO Christian Sprajc cited the currently changed mood with regard to ICOs and the sluggish, but necessary examination by official bodies as reasons for the changed schedule at the PowerFolder subsidiary SCU.
Düsseldorf, 18.01.2019 - After the highly satisfactory pre-sale of the Space.Cloud.Unit, which took place between October…
How many JEE Main mock test to take before the JEE Main exam?
JEE Main Mock Test – How many JEE Main mock tests to take before the JEE Main exam is one of the most frequently asked questions which nobody has a concrete answer to. In general, the amount of practice needed by any student depends on a number of factors like IQ of the student, willingness to work hard, the current level of understanding of concepts and much more.
There is one…
