Pune, May 31, 2021 (GLOBE NEWSWIRE) -- Geotechnical Engineering Market Analysis
Market Research Future (MRFR) predicts the global geotechnical engineering market to grow at a 6.5% CAGR from 2020 -2027 (forecast period).
The global geotechnical engineering market is expected to develop rapidly in the coming years, owing to rising per capita disposable income and technological advances in geotechnical engineering projects in the engineering construction industry. Elevated demand for residential and infrastructure in emerging countries such as China, India, and other South Asian countries is expected to propel the geotechnical engineering industry forward in the coming years. One of the developments in the construction industry that is expected to fuel demand for geotechnical engineering designs over the forecast period is a greater emphasis on innovation in construction materials. However, during the forecast period, a lack of skilled labor could be a major restriction for the global geotechnical engineering market.
Significant government investments in infrastructure are expected to fuel demand for geotechnical engineering by the end of 2024. The impressive growth of the real estate sector in Asia Pacific developing countries such as India and China are expected to fuel the growth of the geotechnical engineering market.
Get Free Sample PDF Brochure
https://www.marketresearchfuture.com/sample_request/7991
COVID-19 Impact on the Global Geotechnical Engineering Market
The introduction of a range of regulations by governments around the world to deal with the COVID- 19 outbreak, like a complete shutdown of manufacturing units, has been found to have an impact on the development of the global geotechnical engineering market.
Market Segmentation
The global geotechnical engineering market has been segmented into type and application.
Based on type, the global geotechnical engineering market has been segmented into underground city space engineering, slope and excavation engineering, and ground and foundation engineering. The underground city space engineering segment captured the largest share in 2018 and is expected to retain this position by 2024. This is attributed to the rise in tunnel and underground construction projects together with technological advancements in the construction material and equipment industry, which further boosted the growth of the overall geotechnical engineering market.
On the basis of application, the global geotechnical engineering market has been segmented into municipal engineering, hydraulic engineering, bridge and tunnel engineering, mining engineering, building construction, and others. The mining engineering segment earned the largest market share in 2018 and is expected to retain this position by 2024. This is attributed to the expansion of underground construction activities in emerging countries such as China and India.
Browse In-depth Market Research Report (100 pages) on Geotechnical Engineering Market.
https://www.marketresearchfuture.com/reports/geotechnical-engineering-market-7991
Regional Analysis
Geographically, the global geotechnical engineering market has been segmented into North America, Europe, Asia Pacific, and the rest of the world.
The Asia Pacific accounted for the lion's share of the geotechnical engineer market. This region's demand is primarily driven by technological advances in the construction industry, as well as the involvement of manufacturers in this market. The Asia Pacific is also expected to have the highest growth rate during the projected period. While the majority of companies are headquartered in the United States, Asia Pacific has seen a significant rise in demand for geotechnical engineering. Companies based in the United States are now establishing operations in countries such as India and China, which offer tax breaks and lower production costs.
North America was the second-largest region, and it is expected to expand at a sustainable pace during the forecast period. During the forecast period, repair and renovation activities in the real estate and commercial sectors are expected to boost demand for civil and structural engineering in North America.
Key Players
Key Players operating in the global geotechnical engineering industry includes Bechtel Corporation (US), Fluor Corporation (US), KBR Inc. (US), Jacobs Engineering Group (US), AECOM (US), CB&I (US), CH2M HILL (US), The Turner Corp (US), AMEC (UK), Kiewit Corp (US), and Black & Veatch (US).
Competitive Landscape
The global geotechnical engineer market is highly competitive and fragmented, with numerous companies operating globally. The companies used a variety of tactics to extend their global reach and gain a foothold in the global market. These companies' core strategies include expansions and investments, acquisitions, and securing contracts.
Share your Queries
https://www.marketresearchfuture.com/enquiry/7991
Summary
The global geotechnical engineering market is anticipated to grow at a 6.5% CAGR from 2020 -2027 (forecast period). The global geotechnical engineering market is expected to expand significantly in the coming years, owing to rising per capita disposable income and technological advances in geotechnical engineering projects in the engineering construction industry. Strong demand for residential and infrastructure in emerging economies such as China, India, and other South Asian countries is anticipated to propel the growth of the industrial engineering industry in the coming years. One of the trends in the construction industry that is anticipated to drive demand for geotechnical engineering designs over the forecast period is a strong emphasis on innovation in construction materials. However, during the forecast period, a lack of skilled labor could be a major constraint for the global geotechnical engineering market.
Discover More Research Reports on Construction Industry, By Market Research Future
Browse Related Reports:
Global Recycled Construction Aggregates Market Research Report: Information by Product Type (Crushed Stone, Sand & Gravel, Cement Concrete and Asphalt Pavement Debris), End-Use [Residential, Commercial, Infrastructure, and others (Industrial and Monumental)] and Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) - Forecast till 2027
Global Metal cladding Market Information: by Type (Aluminum Cladding, Galvanized Steel, Cladding, Zinc Cladding, Copper Cladding, Titanium Cladding, Brass Cladding, and Bronze Cladding), Application (Residential, Commercial and Industrial) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) - Forecast till 2027
Global Green Concrete Market Research Report: by End-Use (Residential, Commercial, Industrial and Infrastructure) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) - Forecast till 2027
Global Plywood Market Research Report: Information By Grade (MR Grade, BWR Grade, Fire Resistant Grade, BWP Grade and Structural Grade), Wood Type (Softwood and Hardwood), Application (Furniture, Flooring & Construction, Automotive Interior, Packaging, Marine and Others) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) – Forecast till 2027
Global Laminated Veneer Lumber Market Research Report: Information By Product (Cross-Banded Laminated Veneer Lumber and Laminated Strand Lumber (LSL)), Application (Concrete Formwork, House Beams, Purlins, Truss Chords, Scaffold Boards and Others), End-Use (Residential, Commercial and Industrial) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) - Forecast till 2027
Global Aluminum Doors and Windows Market Research Report: Information By Product (Exterior Door, Patio Door, Sliding Window, Bi-Fold Window and Other), Application (Residential and Commercial) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) – Forecast till 2027
Global Medium Density Fiberboard (MDF) Market Research Report: By Product (Standard MDF, Moisture Resistant MDF and Fire Resistant MDF), By Application (Cabinet, Flooring, Furniture, Molding, Door and Millwork, Packaging System and Others), By End-user (Residential, Commercial and Institutional) and Region (North America, Europe, Asia-Pacific and Rest of the World) - Forecast till 2027
Global Composite Insulated Panels Market Research Report: Information by Product [Expanded Polystyrene (EPS) Panel, Rigid Polyurethane (PUR) and Rigid Polyisocyanurate (PIR) Panel, Glass Wool Panel and Others], Application (Building Wall, Building Roof and Cold Storage) and Region (North America, Europe, Asia-Pacific and Rest of the World) - Forecast till 2027
Global Exterior Insulation And Finish System Market Research Report: by Type (Polymer-Based and Polymer Modified), Insulation Material (EPS (Expanded polystyrene), MW (Mineral Wood) and others), Component (Adessives, Insulation Board, Base Coat, Reinforcement, and Finish Coat) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) - Forecast till 2027
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.