GE Market Highlights
The global geotechnical engineering market is anticipated to witness sustainable growth during the forecast period. The rising demand for eco-friendly and sustainable construction and government support, fuel the demand of geotechnical engineering market across the globe. However, the high cost of the raw materials coupled with the lack of skilled labor hinders the growth of the global market. Asia-Pacific is expected to see a gradual growth in the geotechnical engineering market during the forecast period: MRFR
Based on region, the global geotechnical engineering market trend has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. Asia-Pacific dominated the global geotechnical engineering market, followed by North America and Europe, primarily due to the high demand for infrastructure projects, which in the process creates demand for imported building and construction materials and services. Asia-Pacific is projected to be the most lucrative region in the market, owing to the significant amount of investments of the construction industry in industrial engineering projects. Furthermore, various global manufacturers are investing in the manufacturing sector, which is further expected to boost the demand for geotechnical engineering in the region during the forecast period. China is one of the leading markets in this region. Growing industrialization and increased population fuel the demand for affordable residential houses. Hence, the geotechnical engineering market in Asia-Pacific is expected to witness 6.5% CAGR between 2019 and 2024. Underground city space engineering segment is expected to witness maximum growth rate in the overall geotechnical engineering market: MRFR
Based on service, the underground city space engineering segment, accounted for the largest contributor to the global geotechnical engineering market in terms of value and volume both in 2018, which is expected to continue its dominance till the end of 2024. This can be attributed to the increase in tunnel and underground construction activities in the industrial and residential sectors across emerging economies in Asia-Pacific and the Middle East & Africa. Counties such as India, China, UAE, and Saudi Arabia are projeted to winess tremendous growth in infrastructural developemnt over the forecast period. The building construction segment is expected to witness maximum growth rate in the overall geotechnical engineering market: MRFR In terms of application, the building construction segment is anticipated to register sustainable growth during the forecast period. This is attributed to the technological advancements in construction material and equipment industry, across the globe.
Don’t miss the Opportunity, Buy Now https://www.marketresearchfuture.com/checkout?currency=one_userUSD&report_id=7991 Key Players The prominent players in the global geotechnical engineering market size are 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).