Geotechnical Engineering Market Analysis

Global Geotechnical Engineering Market Overview

Geotechnical Engineering Market Size was valued at USD 48.5 Billion in 2022. The Geotechnical Engineering industry is projected to grow from USD 51.7 Billion in 2023 to USD 86.2 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.60% during the forecast period (2024 - 2032). Increasing wind energy investment and rapid construction sector growth, are the key market drivers enhancing the market growth.Type: Secondary Research, Primary Research, MRFR Database and Analyst Review

Geotechnical Engineering Market Trends

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  Increased investment in wind energy is driving the market growth

  
  

A surge in environmental protection regulations worldwide is forcing the power production sector to convert to cleaner, more environmentally friendly energy sources. Many countries throughout the world are working hard to develop renewable energy power generation in an effort to reduce their dependency on conventional power generation using fossil fuels. One significant renewable energy source that has the potential to address many concerns is wind energy. One of the key services in the installation of wind turbines is geotechnical surveys. For developers to ensure the ideal placement of offshore wind turbines, cabling infrastructure, and substation, geotechnical studies physically sample or test the properties of the seabed. According to WindEurope, the installation of wind power increased to 651 GW. Approximately 60.4 GW of new wind energy plants were installed globally in 2019. Therefore, the enormous annual increase in wind power capacity is undoubtedly increasing the geotechnical engineering business internationally.

In developing economies, construction activity has increased significantly throughout the residential, commercial, infrastructural, industrial, and utility sectors. Numerous nations, including Brazil, China, India, Indonesia, Qatar, Thailand, and the United Arab Emirates, are already engaged in substantial construction work, and many more are about to start. Government assistance and subsidies are expected to boost investment in the building sector as countries like China and India work to improve their infrastructure bases. Additionally, some nations, including Sri Lanka, India, and Thailand marketing their travel. As a result, the creation of hotels, resorts, parks, and other commercial structures is expanding quickly.

The demand for geotechnical engineering services is increasing as infrastructure development picks up speed around the world. Geotechnical engineering knowledge is essential for beginning any development project, hence demand for these skills is constantly growing. Growing urbanization and the demand for resilient constructions are major factors driving the market's expansion. The mining and renewable energy industries, and by extension, the geotechnical engineering sector, have developed as a result of rising energy consumption and demand for mineral goods.

Amazing scientific developments in geotechnical engineering technology are assisting humanity in developing essential infrastructure in challenging areas. Structures that can withstand earthquakes as well as other man-made and natural disasters are in great demand. As a result, the worldwide geotechnical engineering market is expanding as governments around the world make more investments in the construction of infrastructure.

The geotechnical survey aids the design and construction professionals for roads, bridges, and building sites in understanding the site conditions and making design and construction recommendations. FIFA World Cup 2022 will be held in Qatar. The nation made a large financial investment in stadium building and repair. Additionally, twelve sites were distributed across seven major cities. The general market is anticipated to grow as a result.Thus, driving the Geotechnical Engineering market revenue.

Geotechnical Engineering Market Segment Insights

Geotechnical Engineering Type Insights

The Geotechnical Engineering market segmentation, based on Type, includes Underground City Space Engineering, Slope Excavation Engineering, and Ground Foundation Engineering. The underground city space engineering segment accounted for the largest revenue share in 2022. This is because it is increasing the amount of tunnel building and subterranean activities in the residential, commercial, and industrial sectors in rising economies in Asia-Pacific, the Middle East, and Africa.

Geotechnical Engineering Application Insights

The Geotechnical Engineering market segmentation, based on Application, includes Municipal Engineering, Hydraulic Engineering, Bridge and Tunnel Engineering, Mining Engineering, Building Construction, and Others. Municipal engineering segment dominated the Geotechnical Engineering market in 2022.The geotechnical engineering employed in the construction of airports, government buildings, power plants, utility pipelines, dams, and other structures falls under the municipal section. Another prominent sector of this market is mining, which is anticipated to make a sizable contribution throughout the forecast period. The practise of geotechnical engineering has become crucial to mining operations. The majority of mining corporations now have internal geotechnical knowledge at both the corporate and mine levels, and they also hire consultants to carry out project studies or address particular ground engineering issues.

Figure 1: Geotechnical Engineering Market, by Application, 2022 & 2032 (USD Billion)Type: Secondary Research, Primary Research, MRFR Database and Analyst Review

Geotechnical Engineering Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Geotechnical Engineering Market dominated this market in 2022 (45.80%). Geotechnical engineering services are required for accurate assessment due to strict regulatory permissions for construction activities. The rise of the geotechnical engineering market in this region is also attributed to the expansion of the mining and oil & gas industries. Further, the U.S. Geotechnical Engineering market held the largest market share, and the Canada Geotechnical Engineering market was the fastest growing market in the North America region.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: GEOTECHNICAL ENGINEERING MARKET SHARE BY REGION 2022 (USD Billion) Type: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Geotechnical Engineering market accounted for the healthy market share in 2022.The government's focus on infrastructure and building development, along with the existence of various mining businesses, generates demand for these services in this market.Further, the German Geotechnical Engineering market held the largest market share, and the U.K Geotechnical Engineering market was the fastest growing market in the European region.

The Asia Pacific Geotechnical Engineering market is expected to register significant growth from 2023 to 2032. This is due to the increased development of the infrastructure in this area. Major emerging economies including China, India, Japan, Korea, and Indonesia are present, and their rapid industrial development is a factor in the expansion of the market. This region is a pioneer in the use of geotechnical engineering services due to the significant investments in construction activities. Moreover, China’s Geotechnical Engineering market held the largest market share, and the Indian Geotechnical Engineering market was the fastest growing market in the Asia-Pacific region.

Geotechnical Engineering Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Geotechnical Engineering market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Geotechnical Engineering industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Geotechnical Engineering industry to benefit clients and increase the market sector. In recent years, the Geotechnical Engineering industry has offered some of the most significant advantages to medicine. Major players in the Geotechnical Engineering market, including Bechtel Corporation, Fluor Corporation, KBR Inc., Jacobs Engineering Group, AECOM, CB&I, CH2M HILL, The Turner Corp, AMEC, Kiewit Corp, and Black & Veatch, are attempting to increase market demand by investing in research and development operations.

An integrated provider of geotechnical, survey, and subsea services is Fugro NV (Fugro). From project planning to data gathering, processing, analysis, and interpretation, reporting, and advising, the business specializes in earth and engineering data services. It helps clients with the planning, building, installation, maintenance, and repair of offshore facilities. Fugro offers a variety of services in a range of operational settings. The business provides services to a variety of markets, including the public sector, the water sector, agriculture, oil and gas, renewable energy, building and infrastructure, mining, and others.It has an operational presence throughout the Americas, Asia Pacific, Africa, the Middle East, and Europe. The Netherlands' Leidschendam serves as the company's headquarters. As part of its initial hydrocarbon development, Fugro received a geotechnical contract in January 2020 for the Apsara oil field in Block A, offshore Cambodia. To assist with the design and installation phases of the Apsara Mini Phase 1A development, Fugro would conduct a geotechnical investigation.

A provider of renewable energy is Orsted AS (Orsted). It also offers waste-to-energy solutions and smart energy products in addition to developing, building, and operating offshore and onshore wind farms, bioenergy facilities, solar farms, and energy storage facilities. Using coal, natural gas, oil, biomass, wind, and solar energy, the company generates heat and electricity. It also sells power and gas in wholesale and retail markets, and it manages and hedges its energy portfolio. Orsted also owns and runs Rene science plants, biogas upgrade facilities, and biogas plants. It also generates and trades gas and power contracts to optimise its portfolio.It operates there as well as in the US, the Netherlands, Germany, Denmark, and the UK. The headquarters of Orsted are in Fredericia, Denmark. At least five of rsted's projects off the East Coast of the United States may be postponed as a result of the coronavirus epidemic, the company said in April 2020. The company warned that shutdowns brought on by COVID-19 could postpone the approval process and lead the projects, which have a combined generation capacity of around 3 GW, to fail.

Key Companies in the Geotechnical Engineering market include

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  Bechtel Corporation

  
  


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  Fluor Corporation

  
  


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  KBR Inc.

  
  


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  Jacobs Engineering Group

  
  


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  AECOM

  
  


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  CB&I

  
  


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  CH2M HILL

  
  


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  The Turner Corp

  
  


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  AMEC

  
  


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  Kiewit Corp

  
  


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  Black & Veatch

  
  

Geotechnical Engineering Industry Developments

September 2019: Fugro was given a multi-year contract by Germany's Federal Maritime and Hydrographic Agency to conduct geotechnical site investigations in the German North Sea and Baltic Sea. The programme, which consists of geotechnical investigations in potential offshore wind farm construction regions, will be finished in three phases over the next three years.

July 2021: The largest supplier of geotechnical and environmental engineering services in the US, Geotechnology, Inc., was acquired by Universal Engineering Sciences® (UES), a US-based engineering service provider. Through this acquisition, UES will be able to better serve its clients and expand its market reach.

Geotechnical Engineering Market Segmentation

Geotechnical Engineering Type Outlook

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  Underground City Space Engineering

  
  


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  Slope Excavation Engineering

  
  


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  Ground Foundation Engineering

  
  

Geotechnical Engineering Application Outlook

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  Municipal Engineering

  
  


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  Hydraulic Engineering

  
  


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  Bridge and Tunnel Engineering

  
  


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  Mining Engineering

  
  


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  Building Construction

  
  


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  Others

  
  

Geotechnical Engineering Regional Outlook

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  North America

  
  
  
  
  • US
  
  
  • Canada
  
  
  
  

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  Europe

  
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


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  Asia-Pacific

  
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  

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  Rest of the World

  
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America