Global Geotechnical Engineering Market: Trends and Insights

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The global geotechnical engineering market was valued at USD 2.57 billion in 2023 and is projected to expand at a compound annual growth rate (CAGR) of 6.3% from 2024 to 2030. Geotechnical engineering is a specialized branch within civil engineering that focuses on understanding the behavior of earth materials. This discipline involves the study of soil mechanics and rock mechanics, which are crucial for predicting how these materials will interact with human-made structures. Through this study, geotechnical engineers gain valuable insights into how the ground and soil will behave under various conditions, which helps in designing safe and durable structures.

Geotechnical engineering plays a pivotal role in the design and construction of a wide range of infrastructure projects, including buildings, bridges, dams, tunnels, highways, and much more. By examining and understanding the properties and behaviors of the earth beneath these structures, geotechnical engineers ensure that these projects are not only safe and stable but also cost-effective. The knowledge provided by geotechnical engineers helps in addressing potential challenges related to soil stability, ground movement, and load-bearing capacities, thus minimizing risks associated with construction.

A major driving factor behind the growth of the geotechnical engineering market is the increasing shift towards renewable energy, particularly in the offshore sector. This transition is especially significant for the development of offshore renewable energy projects, such as offshore wind farms. As per the International Energy Agency (IEA), the generation of wind electricity experienced a significant surge of 265 terawatt-hours (TWh) in 2022, reaching over 2,100 TWh in total. This growth in wind energy generation marked the second-highest growth rate among all renewable power technologies, underscoring the growing demand for offshore wind power.

This surge in renewable energy projects, especially offshore wind farms, is driving up the demand for geotechnical engineering services. For example, in March 2024, TotalEnergies and SSE Renewables completed the geotechnical seabed surveys for their 500 MW Seagreen 1A offshore wind farm located off the coast of Scotland. This marked a significant milestone in the project’s development. Phase 2 of the geotechnical work is scheduled to begin later in 2024 and is expected to take about two weeks to complete. These kinds of projects demonstrate how geotechnical engineering is becoming increasingly integral to supporting the growth of offshore renewable energy infrastructure and contributing to the overall expansion of the geotechnical engineering market.

Get a preview of the latest developments in the Geotechnical Engineering Market? Download your FREE sample PDF copy today and explore key data and trends. 

Geotechnical Engineering Market: Frequently Asked Questions (FAQ)

1. What is the current size of the global geotechnical engineering market?

The global geotechnical engineering market was valued at USD 2.57 billion in 2023 and is projected to reach USD 3.95 billion by 2030, growing at a CAGR of 6.3% from 2024 to 2030.

2. Which regions are leading in the geotechnical engineering market?

North America: Dominated the market with a 32.0% share in 2023, driven by extensive infrastructure projects and adoption of geotechnical services.

3. What are the key application areas in geotechnical engineering?

Major applications include:

• Municipal Engineering: Urban infrastructure development and maintenance.

• Mining Engineering: Ensuring stability and safety in mining operations.

• Offshore Renewable Energy: Geotechnical assessments for offshore wind farms and other renewable energy projects. 

4. Who are the key players in the geotechnical engineering market?

Prominent companies include:

• AECOM

• Fugro

• HDR, Inc.

• Gardline Limited.

• Stantec Inc.

• Kiewit Corporation

• Bechtel Corporation

• Jacobs Solutions Inc.

• Black & Veatch

Order a free sample PDF of the Geotechnical Engineering Market Intelligence Study, published by Grand View Research.

 

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