iCrowd Newswire
12 Jan 2022, 20:32 GMT+10
Geotechnical service helps determine if a site is suitable for a particular construction project. Geotechnics is a civil engineering discipline that deals with the theory of the mechanics of soils and rocks to study the physical properties of terrestrial materials. Geotechnical services include drilling a deep hole in the ground, collecting soil samples, testing the sample, analyzing the test report, and making suitable foundation recommendations. These services play an important role in the planning of large infrastructures, such as high-rise buildings, bridges, railways, tunnels, and similar construction projects on land and at sea. In addition to construction, geotechnical services are used in the oil & gas and mining industries.
Global geotechnical services market size was valued at $1.9 billion in 2020, and is projected to reach $3.7 billion by 2030, growing at a CAGR of 6.7% from 2021 to 2030. Massive amount of investments made by government authorities for construction activities in emerging economies is one the factors responsible for driving the growth of the geotechnical services market. Moreover, developments in oil & gas projects is anticipated to benefit the geotechnical instrumentation & monitoring market in the coming years.
Interested to Procure the Data? Request Sample Here @ https://www.alliedmarketresearch.com/request-sample/13201
The geotechnical services market analysis has been done on the basis of type, application, and region. On the basis of type, the market is fragmented into underground city space, slope & excavation, and ground & foundation. The underground city space segment is expected to hold the largest geotechnical services market share during the forecast period due to the use of underground city space, which is one of the prerequisites for the development of megacities.
Depending on application, the market is categorized into bridge & tunnel, building construction, marine, mining, municipal, oil & gas, and others. The municipal segment was the major share contributor in 2020, whereas the oil & gas segment is projected to register a CAGR of 7.2% during the geotechnical services market forecast period.
Request a Discount Before Purchasing Report @ https://www.alliedmarketresearch.com/purchase-enquiry/13201
Region wise, North America garnered the largest share, as the region houses major geotechnical services companies, especially in the U.S. Moreover, increase in number of new infrastructure projects is expected to escalate the demand for geotechnical instrumentation and monitoring tools. Therefore, rapid development of new infrastructures in the Americas is one of the major driving factors for the geotechnical services market growth in this region.
The major companies profiled in geotechnical services industry are AECOM, Stantec, Geoquip Marine Group, WSP, Fugro, HDR, EGS Survey, Gardline Limited, Arup, and Kiewit Corp. These players have adopted strategies such as product launch and business expansion to sustain the competition and to strengthen their foothold in the market.
Get detailed COVID-19 impact analysis on the Geotechnical Services Market @ https://www.alliedmarketresearch.com/request-for-customization/13201?reqfor=covid
Impact of COVID-19 on the Global Geotechnical Services market
Tags: Geotechnical Services, mining, Oil and Gas, Excavation
See Campaign: https://www.alliedmarketresearch.com/press-release/geotechnical-services-market.htmlContact Information:David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
Tags:Healthfirsto, Empirits, PR-Wirein, Menafn, Reportedtimes, canadatousd, Dthai, lebc, Fexti, Research Newswire, English
Get a daily dose of International Technology news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to International Technology.
More InformationSANTA CLARA, California: Intel's stock soared nearly 15 percent this week following the announcement that former board member Lip-Bu...
New Delhi [India], March 21 (ANI): Prime Minister Narendra Modi delivered his remarks during the programme of Bavaliyali Dham related...
New Delhi [India], March 20 (ANI): On the occasion of World Happiness Day, the Government of India reaffirmed its commitment to empowering...
E-cigarette companies, including giants such as British American Tobacco, have actively lobbied governments in New Zealand and Australia...
Hyderabad (Telangana) [India], March 19 (ANI): Hyderabad and Ho Chi Minh will now be directly connected via VietJet flight, reducing...
New Delhi [India], March 18 (ANI): Defence Minister Rajnath Singh held a meeting with his Netherlands counterpart Ruben Brekelmans...
The Voice of America may not live up to its ambitious name for much longer. Michael Abramowitz, the director of VOA, said in a Facebook...
STOCKHOLM, Sweden: Spotify set a new milestone in 2024, paying out US$10 billion in royalties—the highest annual payout to the music...
A Palestinian man stands in a destroyed building after an Israeli airstrike in the northern Gaza Strip town of Beit Lahia, on March...
New Delhi [India], March 21 (ANI): Actor Vijay Devarakonda and Prakash issued a clarification on Thursday following the allegations...
Mumbai (Maharashtra) [India], March 21 (ANI): Youtuber and comedian Samay Raina has rescheduled his India tour amid the ongoing India's...
Gilgit [PoGB], March 20 (ANI): The Supreme Court of Pakistan has sought the federal government's position on the Pakistan-occupied...