Market Research Future published a research report on “Geotechnical Engineering Market Research Report - Global Forecast 2024” – Market Analysis, Scope, Stake, Progress, Trends and Forecast Report to 2024.
Market Synopsis
Market Research Future (MRFR), in its latest global geotechnical engineering market report states that different factor that allows the growth of the geotechnical engineering industry. As per MRFR study, the global geotechnical engineering market size be at USD 5 trillion. The world geotechnical engineering market 2020 can rise at 5.8% CAGR by 2024. The over-all geotechnical engineering market is predicted to experience high growth in the near future. This can be attributed to the high per capita disposable income. In addition technological advancements and rise in geotechnical engineering projects for the cash rich mining and construction industries can cause the expansion of the market. The surge in demand for infrastructure and residential application of geotechnical engineering services across India and other South Asian countries can prompt the expansion of the market in the forecast period.
Key Players
MRFR recognized reputed marketers in the world geotechnical engineering industry. They are Fluor Corporation (US), Bechtel Corporation (US), Jacobs Engineering Group (US), KBR Inc. (US), CB&I (US), AECOM (US), The Turner Corp (US), CH2M HILL (US), Kiewit Corp (US), AMEC (UK), and Black & Veatch (US). The worldwide geotechnical engineer market is observed to be highly competitive. Numerous companies in the world are adopting different marketing strategies to improve their global presence and register global foothold in the years to come.
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Market Segmentation
The segmental study of the Geotechnical Engineering Market is based on application and type.
The type–based segments of the geotechnical engineering are slope and excavation engineering, underground city space engineering, and ground and foundation engineering. The underground city space engineering type segment can gain substantial traction in the years to come. The segment accounted for the grand share of the world geotechnical engineering market. This can be attributed to the rise in demand for underground and tunnel construction projects, backed by technological advancements. The availability of effective construction material and equipment solutions can prompt the overall growth of the world geotechnical engineering market.
The application-based segments of the world geotechnical engineering market are hydraulic engineering, municipal engineering, mining engineering, building construction, bridge and tunnel engineering, and others. The mining engineering application segment can boost the rise of the market exponentially. The segment is accounted for the decent share of the world market and is likely to hold hegemony in till 2024. The increased underground construction activities across potential economies can boost the rise of the geotechnical engineering market.
Regional Analysis
Asia Pacific geotechnical engineering market can stand at the forefront across the review period. The expansion of the geotechnical engineering market can be attributed to technological advancements and their high utility in the construction sector. The existence of numerous dealers of geotechnical engineering solution can boost the rise of the market.
North America is expected to secure the second position, after Asia Pacific, in the growth curve. The sustainable growth of Europe geotechnical engineering market can be credited to the increased repair and renovation activities. The rise of the commercial and real-estate sector can impel the expansion of the regional market. The regional growth of the market can be augmented due to the rise in demand for structural and civil engineering.
Europe geotechnical engineering market can thrive at a high CAGR across the assessment period. EU houses numerous geotechnical engineering solution dealers that can underpin the rise of the regional market at a high pace across the forecast period. The surge in demand for geotechnical engineering across the mining and construction sector can encourage the market in the UK, and the rest of EU.
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Market Overview
- Competition Analysis by Players
- Company (Top Players) Profiles
- Geotechnical Engineering Market Size by Type and Application
- US Market Status and Outlook
- EU Development Market Status and Outlook
- Japan Market Development Status and Outlook
- China Market Status and Outlook
- India Geotechnical Engineering Market Status and Outlook
- Southeast Asia Market Status and Outlook
- Market Forecast by Region, Type, and Application
- Market Dynamics
- Market Effect Factor Analysis
- Research Finding/ Conclusion
- Appendix
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