Geotechnical Services Market 2024 - By Size, Share Analysis, Future Insights, Current Trends And Global Growth Outlook By 2033

Global geotechnical services market size is expected to reach $2.88 Bn by 2028 at a rate of 5.7%, segmented as by product type, underground city space engineering, slope and excavation engineering, ground and foundation engineering

Jul 17, 2024 - 12:07

Geotechnical Services Market 2024 - By Size, Share Analysis, Future Insights, Current Trends And Global Growth Outlook By 2033

Overview and Scope

Geotechnical services are a branch of civil engineering services and are employed in designing infrastructure such as bridges, tunnels, and other onshore and offshore structures as construction support by investigating the soil, rock, fault distribution, and bedrock properties.

Sizing and Forecast

The geotechnical services market size has grown strongly in recent years. It will grow from $2.19 billion in 2023 to $2.31 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to land use changes, military and defense projects, transportation expansion, environmental awareness, urban development.

The geotechnical services market size is expected to see strong growth in the next few years. It will grow to $2.88 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to resilience planning, mining industry demand, urbanization and population growth, renewable energy development, climate change impact. Major trends in the forecast period include infrastructure development, urbanization, natural disaster mitigation, energy sector expansion, mining and exploration.

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Segmentation & Regional Insights

The geotechnical services market covered in this report is segmented –

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, Other Applications

North America was the largest region in the geotechnical services market in 2023. The regions covered in the geotechnical services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth

The rising investments in wind energy are expected to propel the growth of the geotechnical services market going forward. The technique of using the wind to generate mechanical power or electricity is referred to as wind energy. It necessitates the use of particularly tailored geotechnical exploration and data analysis approaches to managing risks at various phases of project development. For instance, according to the U.S. Department of Energy, the offshore wind pipeline in the United States rose by 24% year over year, with 35,324 MW at various phases of development. Therefore, the rising investment in wind energy is driving the growth of the geotechnical services market.

Key Industry Players

Major companies operating in the geotechnical services market report are 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, Turner Construction, WSP, Atkins, BGC Engineering, Black & Veatch, Coffey International, Golder Associates, Intertek Group, Mott MacDonald, Ramboll Group, SNC-Lavalin Group, Terracon Consultants Inc., Geosyntec Consultants, Haley & Aldrich, Kleinfelder, John Wood Group PLC, Geocomp Corporation, Engineering Consulting Services Ltd., GZA GeoEnvironmental Inc.

The geotechnical services market report table of contents includes:

1. Executive Summary

2. Geotechnical Services Market Characteristics

3. Geotechnical Services Market Trends And Strategies

4. Geotechnical Services Market - Macro Economic Scenario

5. Global Geotechnical Services Market Size and Growth

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32. Global Geotechnical Services Market Competitive Benchmarking

33. Global Geotechnical Services Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Geotechnical Services Market

35. Geotechnical Services Market Future Outlook and Potential Analysis

36. Appendix