Geotechnical Engineering Market 2019
Geotechnical engineering is one of the branches of engineering related to the analysis, design and construction of slopes, embankments, foundations, retaining structures, landfills, tunnels, levees, wharves, and other systems that are built of or are supported by rock or soil. The geotechnical research ranges in nature from the numerical and analytical study of geotechnical issues to experimental modelling, constitutive modelling, and detailed design. Geotechnology plays an important role in all civil engineering projects and it is considered crucial for the assessment of natural hazards such as liquefaction, sinkholes, earthquakes, rockfalls and landslides.
The global geotechnical engineering market is expected to notice extraordinary growth in the near future, which is attributed to the increase in per capita disposable income coupled with technological developments and constant improvements in the geotechnical engineering projects in the construction industry.
Enhanced focus on innovation in construction materials is the latest trend observed by the construction industry, which is anticipated to fuel the demand for advanced geotechnical engineering designs over the forecast period. However, the shortage of competent and creative labour can impede the growth of global geotechnical engineering market during the forecast period.
As per the report, the global geotechnical engineering market can be analyzed on the basis of the following segments-
Based on the type, the geotechnical engineering market can be segmented into:
Slope and Excavation Engineering
Underground City Space Engineering
Ground and Foundation Engineering
According to the research, the underground city space engineering segment accounted for a substantial market share in the year 2018 and is expected to maintain its dominance until 2024.
Based on end-user application segment, the geotechnical engineering market can be segmented into-
Bridge and Tunnel Engineering
National Defense Engineering
The mining engineering segment accounted for the highest market share in the year 2018 and is expected to lead the overall geotechnical engineering market during the forecast period. This is attributed to the development of underground construction activities in emerging countries such as India and China.
Major regions that contribute to the growth and development of geotechnical engineering market-
North America (the United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
The Middle East and Africa
South America (Brazil, Argentina, Colombia)
As per the research, Asia-Pacific held a substantial share in the geotechnical engineering market. The geotechnical engineering market in this region is mainly driven by technological advancements and constant innovations in the construction industry coupled with the existence of leading market players in this region. The region is anticipated to witness maximum growth rate over the forecast period.
North America accounted for the second-highest market share and is predicted to register a considerable growth rate during the forecast period. Renovation activities in the commercial and real sector are projected to enhance the demand for structural and civil engineering in North America during the forecast period.
Significant investments and initiatives by government organizations to improve infrastructure are foreseen to stimulate the demand for geotechnical engineering by the year 2024. The outstanding growth in the real estate industry in the emerging countries of Asia-Pacific, such as India and China, is also anticipated to benefit the growth of the geotechnical engineering industry in this region.
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