The global geotechnical engineering market is cementing its foothold by obtaining a higher growth rate during the forecast period (2019–2024), reveals Market Research Future in its comprehensive study, which includes factors, segments, and regional study. The market is ready to witness tremendous growth in the coming years mainly attributing to the rise in per capita disposable income, across the world.
Market Drivers Trends
The growth of the market is generally attributed to the ongoing technological advancements that are happening in the geotechnical engineering projects. It is mainly the engineering construction industry, which is getting considerable traction from all over the world and is expected to drive the market during its expansion period. The market is mainly flourishing in developed countries such as China, India, and other South Asian countries and considerably driving the growth of the market in the coming years.
On the other side, the increased innovation in construction materials is also one of the major trends going on in the construction industry and to fuel the demand for geotechnical engineering designs in the assessment period. Even the government bodies are in line to improve the infrastructure of the construction industry, which is to boost the demand for geotechnical engineering by the end of 2024. Furthermore, the study also revealed that it the real estate sector to witness an impressive growth of geotechnical engineering market, mainly in the developing countries of the Asia Pacific such as India and China
On the flip side, the factor in concern with the lack of skilled labor could be a significant restraint for the global geotechnical engineering market during the forecast period.
The global geotechnical engineering market, in MRFR’s study, has been segmented by type and application.
The segment of type is split into underground city space engineering, slope and excavation engineering, and ground and foundation engineering. Among which, the underground city space engineering segment held the largest share in 2018 and is now expected to retain this position till 2024 attributing to the rise in a tunnel and underground construction projects along with technological advancements in construction material and equipment industry. These would propel the growth of the inclusive geotechnical engineering market.
By the mode of application, the market is split into municipal engineering, hydraulic engineering, bridge and tunnel engineering, mining engineering, building construction, and many others. The mining engineering segment held for the significant market share in 2018 and is now expected to retain this position attributing to the development of underground construction activities in emerging countries such as China and India.
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Regionally, the global geotechnical engineering market in MRFR’s study is segmented based on regions of North America, Europe, Asia-Pacific, and the rest of the world.
Among these, Asia-Pacific has the largest share in the geotechnical engineering market as it is chiefly motivated by technological advancements in the construction industry along with the occurrence of key manufacturers in this market. The region is also estimated to observe a maximum growth rate over the forecast period. The companies based in the US are now setting up operations in countries such as India and China, and thus offering tax benefits and reduced manufacturing costs, which on the other side will drive the market in the future as well.
North America is also observed to have the second-largest market, which is estimated to display bearable growth rate during the forecast period. It is the repair and renovation activities in the real estate and commercial sector, which is projecting to expand the demand for civil and structural engineering in North America during the forecast period.
The well-known players active in the global geotechnical engineering market are listed as Bechtel Corporation (US), Fluor Corporation (US), KBR Inc. (US), Jacobs Engineering Group (US), AECOM (US), CBI (US), CH2M HILL (US), The Turner Corp (US), AMEC (UK), Kiewit Corp (US), and Black Veatch (US).
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Key Questions Addressed by the Report
What was the historic market size?
Which segmentation (Product/ Capacity) is driving market?
What will be the growth rate?
How are the key players in this market?
What are the strategies adopted by key players?
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.2 RESEARCH OBJECTIVE
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET LANDSCAPE
3.1.1 THREAT OF NEW ENTRANTS
3.1.2 BARGAINING POWER OF BUYERS
3.1.3 THREAT OF SUBSTITUTES
3.1.4 SEGMENT RIVALRY
3.1.5 BARGAINING POWER OF BUYERS
3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS
4 MARKET DYNAMICS
4.2 MARKET DRIVERS
4.3 MARKET RESTRAINTS
4.4 MARKET OPPORTUNITIES
4.5 MARKET TRENDS
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