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.
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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
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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.
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