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What is the Geotechnical Engineering Market Size?

The geotechnical engineering market size is estimated to grow by USD 1.07 billion at a CAGR of 6.8% between 2024 and 2029. The market is experiencing significant growth due to the expansion of various sectors, particularly renewable energy. The integration of artificial intelligence (AI) in geotechnical engineering services is another key trend, enabling more accurate and efficient analysis of geological data. However, the high cost of advanced technologies remains a challenge for smaller players in the market. The renewable energy sector's growth is driving the demand for engineering services, as the installation of wind turbines and solar panels requires a thorough understanding of soil conditions. AI is revolutionizing the industry by providing real-time analysis of geological data, reducing the need for manual labor and increasing efficiency. Despite these opportunities, the high cost of advanced technologies, such as AI and geophysical sensors, is limiting the market growth for smaller companies. Overall, the geotechnical engineering market is poised for growth, with renewable energy and technological advancements presenting significant opportunities.

What will be the size of Market during the forecast period?

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Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019 - 2023 for the following segments.

Application

  Real estate
  Infrastructure
  Industrial


Type

  Underground city space engineering
  Slope excavation engineering
  Ground foundation engineering


Geography

  APAC

    China
    India
    Japan
    South Korea


  North America

    US


  Europe

    Germany
    UK
    France
    Spain


  Middle East and Africa



  South America

    Brazil

Which is the largest segment driving market growth?

The real estate segment is estimated to witness significant growth during the forecast period. Geotechnical engineering plays a crucial role in the real estate sector due to the increasing demand for safe and stable structures for residential, commercial, and industrial projects. The residential development segment is experiencing significant growth as a result of the pressing need for housing in urban areas.

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The real estate segment was valued at USD 953.70 million in 2019. Governments and private developers are investing heavily to address housing shortages, with initiatives such as the Canadian government's plan to transform six federal properties into 2,800 new homes announced in November 2023. Offshore projects, including oil and gas platforms and wind farms, also contribute to the market's growth. The use of geotechnical engineering in offshore projects ensures the stability of structures in challenging marine environments. Slope failures and landslides are common geotechnical issues that pose risks to infrastructure, particularly in hilly and mountainous regions. Geotechnical engineering solutions, such as those based on rock mechanics and artificial intelligence, help mitigate these risks. Recycled materials are increasingly being used in geotechnical engineering applications due to their environmental benefits and cost-effectiveness. Building information modeling (BIM) is another technology that is gaining popularity in the industry, as it enables the creation of digital models of structures, improving design and construction processes. These trends are expected to drive the growth of the market.

Which region is leading the market?

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APAC is estimated to contribute 36% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional market trends and drivers that shape the market during the forecast period. The Asia Pacific region is experiencing substantial growth in the market due to extensive infrastructure development and urbanization. Urbanization and the increasing adoption of renewable energy projects further fuel the demand for geotechnical engineering technology in the Asia Pacific region. For instance, the development of substations and cabling infrastructure for renewable energy sources necessitates the expertise of geotechnical engineers to ensure the structural integrity of these installations on building sites and the seabed.

How do company ranking index and market positioning come to your aid?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence

Abstract

The documentation covers Enterprise Survey panel datasets that were collected in Chad in 2009 and 2018. The Enterprise Survey is a firm-level survey of a representative sample of an economy's private sector. The surveys cover a broad range of business environment topics including access to finance, corruption, infrastructure, crime, competition, and performance measures. The objective of the Enterprise Survey is to gain an understanding of what firms experience in the private sector.

As part of its strategic goal of building a climate for investment, job creation, and sustainable growth, the World Bank has promoted improving the business environment as a key strategy for development, which has led to a systematic effort in collecting enterprise data across countries. The Enterprise Surveys (ES) are an ongoing World Bank project in collecting both objective data based on firms' experiences and enterprises' perception of the environment in which they operate.

Geographic coverage

National coverage

Analysis unit

The primary sampling unit of the study is the establishment. An establishment is a physical location where business is carried out and where industrial operations take place or services are provided. A firm may be composed of one or more establishments. For example, a brewery may have several bottling plants and several establishments for distribution. For the purposes of this survey an establishment must make its own financial decisions and have its own financial statements separate from those of the firm. An establishment must also have its own management and control over its payroll.

Universe

The whole population, or universe of the study, is the non-agricultural economy. It comprises: all manufacturing sectors according to the group classification of ISIC Revision 3.1: (group D), construction sector (group F), services sector (groups G and H), and transport, storage, and communications sector (group I). Note that this definition excludes the following sectors: financial intermediation (group J), real estate and renting activities (group K, except sub-sector 72, IT, which was added to the population under study), and all public or utilities-sectors.

Kind of data

Sample survey data [ssd]

Sampling procedure

The samples for 2009 and 2018 Chad Enterprise Surveys were selected using stratified random sampling, following the methodology explained in the Sampling Note.

Two levels of stratification were used in the Chad 2009 ES sample: firm sector and firm size. The Industry stratification was designed as follows: the universe was stratified into manufacturing and services industries. The initial sample design had a target of 75 interviews in manufacturing and 75 interviews in services.

In 2018 Chad ES, three levels of stratification were used: industry, establishment size, and region. The industry stratification was designed in the way that follows: the universe was stratified as into manufacturing and services industries- Manufacturing (ISIC Rev. 3.1 codes 15 - 37), and Services (ISIC codes 45, 50-52, 55, 60-64, and 72). Regional stratification did not take place for the Chad ES.

Mode of data collection

Face-to-face [f2f]

Research instrument

Two questionnaires - Manufacturing amd Services were used to collect the survey data.

The Questionnaires have common questions (core module) and respectfully additional manufacturing- and services-specific questions. The eligible manufacturing industries have been surveyed using the Manufacturing questionnaire (includes the core module, plus manufacturing specific questions). Retail firms have been interviewed using the Services questionnaire (includes the core module plus retail specific questions) and the residual eligible services have been covered using the Services questionnaire (includes the core module).