Market Research Future (MRFR) predicts the global geotechnical engineering market to grow at a 6.5% CGR 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.

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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.

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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), CBI (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.

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Summary

The global geotechnical engineering market is anticipated to grow at a 6.5?GR 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.

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