Pune, India, June 2019/MRFR Press Release/- Market Research Future Published a Half-Cooked Research Report on the Global Geotechnical Engineering Market.
Market Research Future (MRFR) has published a cooked research report on the “Geotechnical Engineering Market” that contains information from 2022 to 2032. The Global Geotechnical Engineering Market is estimated to register a CAGR of 6.60% during the forecast period of 2022 to 2032.
MRFR recognizes the following companies as the key players in the Global Geotechnical Engineering Market Bechtel Corporation, Fluor Corporation, KBR Inc., Jacobs Engineering Group, AECOM, CB&I, CH2M HILL, The Turner Corp, AMEC, Kiewit Corp, and Black & Veatch.
The Global Geotechnical Engineering Market is accounted to register a CAGR of 6.60% during the forecast period and is estimated to reach USD 86.2 Billion by 2032.
The Geotechnical Engineering Market refers to the global industry involved in the field of civil engineering that deals with the study and analysis of the behavior of soil, rock, and other earth materials in relation to construction and infrastructure projects. Geotechnical engineers assess the geological and geotechnical properties of the ground to provide recommendations and solutions for safe and stable construction of structures like buildings, bridges, roads, dams, tunnels, and other civil engineering projects. The Geotechnical Engineering Market is essential for safe and resilient construction, providing valuable insights into the behavior of the ground and contributing to the overall sustainability and success of civil engineering projects.
The Global Geotechnical Engineering Market has been segmented based on Type, and Application.
Based on Type, the market is segmented into Underground City Space Engineering, Slope Excavation Engineering, and Ground Foundation Engineering. In 2022, the underground city space engineering segment accounted for the largest revenue share. This can be attributed to the increasing number of tunnel construction and subterranean activities in the residential, commercial, and industrial sectors, particularly in rising economies across Asia-Pacific, the Middle East, and Africa.
Based on Application, the Market has been segmented Municipal Engineering, Hydraulic Engineering, Bridge and Tunnel Engineering, Mining Engineering, Building Construction, and Others. In 2022, the municipal engineering segment dominated the Geotechnical Engineering market. This segment encompasses geotechnical engineering applications in the construction of various structures, such as airports, government buildings, power plants, utility pipelines, dams, and more. Mining is another prominent sector in this market and is expected to make a significant contribution throughout the forecast period.
The Global Geotechnical Engineering Market, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Global Geotechnical Engineering Market comprises Germany, France, the UK, Italy, Spain, and the rest of Europe. The Global Geotechnical Engineering Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World's Global Geotechnical Engineering Market comprises of Middle East, Africa, and Latin America.
In 2022, the North America Geotechnical Engineering Market held the dominant position, capturing 45.80% of the market share. This region's market dominance is driven by the strict regulatory requirements for construction activities, necessitating accurate geotechnical engineering services to assess and ensure the safety and stability of structures.
In 2022, the Europe Geotechnical Engineering market accounted for a healthy market share. This can be attributed to the government's focus on infrastructure and building development, creating a demand for geotechnical engineering services in the region. Additionally, the presence of various mining businesses also contributes to the demand for these services in the European market.
In the Asia-Pacific region, the Geotechnical Engineering market is expected to register significant growth from 2023 to 2032. The region's growth is driven by increased infrastructure development, especially in major emerging economies such as China, India, Japan, Korea, and Indonesia. These countries are experiencing rapid industrial development, leading to an expansion of the market for geotechnical engineering services.
Key Findings of the Study
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