Rising Construction Industry On Market Growth: Key Driver Transforming the Geotechnical Services Market in 2024

The Business Research Company’s Geotechnical Services Global Market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033

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The geotechnical services market has experienced significant growth in recent years. It is expected to increase from $2.19 billion in 2023 to $2.31 billion in 2024, at a compound annual growth rate (CAGR) of 5.3%. The growth during the historical period can be attributed to factors such as land use changes, military and defense initiatives, transportation expansion, environmental awareness, and urban development.
What Is the Projected Market Size of the Global Geotechnical Services Market and Its Growth Rate?
The geotechnical services global market is projected to experience robust growth in the coming years, reaching $2.88 billion by 2028 at a compound annual growth rate (CAGR) of 5.7%. This growth during the forecast period can be attributed to factors such as resilience planning, increased demand from the mining industry, urbanization, population growth, renewable energy development, and the impact of climate change. Key trends expected in the forecast period include infrastructure development, urbanization, natural disaster mitigation, energy sector expansion, and mining and exploration.
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What are the Key Drivers Fueling Growth in the Geotechnical Services Market?
The growth of the construction industry is anticipated to drive the expansion of the geotechnical services market in the future. The construction industry includes a wide range of activities related to the planning, design, development, and building of structures and infrastructure. Geotechnical services are essential in the construction sector, as they ensure the safety, stability, and durability of structures. These services assess soil stability, foundation design, and manage risks associated with construction projects.
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Who Are the Key Players Driving Growth in the Geotechnical Services Market?
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.
What Are The Emerging Trends Shaping The Growth Of The Geotechnical Services Market?
Key players in the geotechnical services market are focusing on developing cutting-edge technologies, such as geotechnical data management platforms, to expand their customer base, boost sales, and increase revenue. A geotechnical data management platform is an all-in-one software solution designed to gather, store, analyze, and display geotechnical data collected during different stages of construction and engineering projects.
What Are the Segments of the Global Geotechnical Services Market?

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

Geographic Overview: North America at the Helm of the Geotechnical Services Market
North America was the largest region in the geotechnical services market in 2023. The regions covered in the geotechnical services global market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

How Is The Geotechnical Services Market Defined?
Geotechnical services are a specialized area of civil engineering used in designing infrastructure such as bridges, tunnels, and various onshore and offshore structures. These services support construction by examining soil, rock, fault distribution, and bedrock characteristics. The primary types of products in geotechnical services include underground city space engineering, slope and excavation engineering, and ground and foundation engineering.

The Geotechnical Services Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.

Overview of the Global Geotechnical Services Market Report: Trends, Opportunities, Strategies, and More
The Geotechnical Services Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into geotechnical services market size, geotechnical services market drivers and trends, geotechnical services global market major players, geotechnical services competitors' revenues, geotechnical services global market positioning, and geotechnical services market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.

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