The demands for geotechnical instruments and equipment in the construction and infrastructure industry are set to surge the revenues in the global geotechnical market
Geotechnical engineering is a division in civil engineering that involves defining soil strength, rock mechanics, hydrogeology, and geophysics. Geotechnical engineering is applied in numerous end-user industries including but not limited to oil & gas, construction, and aerospace & defense sector. Among these applications, the construction of buildings and utilities are observed as the key application in the global Geo Technical Market, growing at a CAGR of 13.11% during the forecast period of 2019 to 2025. The construction industry poised as one of the fastest-growing end-user industries on the planet. According to the International Finance Corporation, a sister organization of The World Bank Group, the 75% of the infrastructure that will exist in 2050 is still to be built, and the industry is anticipated to grow at a CAGR of 4.2% during 2018 and 2023. Also, the source estimates that the industry will attract investments worth $3.3 trillion annually to support the projected infrastructure growth in the global GDP until 2030. With such overwhelming construction activities anticipated, the requirement for advanced geotechnical equipment and instrument will surge, subsequently inducing revenues in the geotechnical market, which held the global market size of $2.84 billion in 2018. Foreseeing the exuberant application of geotechnical products in the construction and oil& gas industry, the demands in the geotechnical market are projected to grow at a CAGR of 11.12% during the forecast period of 2019 to 2025. Considering the geographical distribution, the North American region was evaluated as the most profitable region in the geotechnical market with a massive market share of 35.99% in 2018. The availability of advanced technologies for the construction of massive data centers, bridges, and skyscrapers are accounted for as the main factor for the humungous market share in the region. Asia-Pacific is closely following the North American region. The numerous ongoing projects in developing economies such as India, China, Japan, and South Korea are responsible for the infrastructure growth in the region. According to Oxford Economics, the global construction market is projected to reach $8 trillion by 2030, and the major contributors in this total will be China, India, and the U.S. With such an enormous application environment, the global geotechnical market is expected to flourish in the upcoming years.
Geo-Technical Market Competitive Landscape
The companies influencing the geotechnical market are Fugro N.V. (Netherlands), Keller Group plc (U.K.), Geokon Incorporated (U.S.), Durham Geo Slope Indicator Inc. (U.S.), Nova Metrix LLC (U.S.), Geocomp Corporation (U.S.), and Sisgeo Srl (Italy). Some of the major developments and active projects by the above-stated companies are as follows:
Fugro N.V. is an energy equipment and services firm based in Netherlands, Europe. The firm offers asset integrity and site characterization solutions in various energy sectors such as the power, oil and gas, mining, infrastructure, and building industries in the Americas, Europe, Asia Pacific, and the Middle East region. Applications in the company are spread through the land, geoscience, and marine. The geotechnical survey is the default process carried out in all the three verticals, the marine vertical determines the soil composition by acquiring soil samples and further cone penetration testing on the sample. Geo-consulting techniques are used for meteorological and oceanographic measurement services. The above-stated operations extensively employ geotechnical engineering techniques. The company manufactures purpose-built geophysical and geotechnical vessels and is considered as the most experienced commercial operator of autonomous underwater assets. The company is equipped with advanced technology that is allowing them to direct their capital expenditures towards lightly manned, remotely operated, and fully autonomous assets. A few of the assets that company possesses are 2 unmanned surface vessels (USVs), 5 autonomous underwater vehicles (AUVs), 107 remotely operated vehicles (ROVs), 231 onshore and 14 offshore drilling rigs. All these commodities are used in oil & gas, infrastructure, and energy sector. The company is renowned for its advance ground engineering techniques, in which they received the innovation award for tackling data in shallow water geotechnics at the Ground Engineering (GE) Awards held in London in June 2018. In this project, the company manufactured a mobile drilling platform termed The Fugro Amphibious Buggy (FAB) that can be used for both land and shallow work seamlessly. With such milestone innovations and abundant resources, the company generated revenues worth $1.86 billion in 2018, an increment of 19.2% from the preceding year. Additionally, the company’s return on investment is projected to grow at a substantial rate, owing to its advanced geotechnical assets and techniques, thereby supporting the growth in the geotechnical market.
Keller Group plc (U.K.)
The Kellar Group is a public limited company which is looked upon as one of the world’s largest independent ground engineering contractor that provides cost-effective and technically advanced foundation solutions for construction in infrastructure, industrial, commercial, residential and environmental projects. The company has a large business in terms of geographies, products, end markets, customers, and individual contracts. Keller Group has various active projects that integrate advanced geo technicalities in the construction industry to build state-of-art railway tracks & stations, airport terminals, docks, waterways, and highways. The company acquired geotechnical expert Moretrench in 2018 for $90m. With this acquisition, the company aims to expand its product range, technical expertise, and geographical footprints in the United States. With such pro-active operations, the company generated annual revenues worth $2.79 billion in 2018. The company is targeting the construction sector in the U.S. which is projected to grow at a CAGR of 2.2% from 2018 to 2022. This growth in the industry is due to the rapidly growing construction activities in the residential, energy, institutional, industrial, and commercial sector. With such an influx of construction activities, the demands in the geotechnical market are estimated to grow at a significant pace in the upcoming years.
Durham Geo Slope Indicator (DGSI) Inc.
The DGSI is a global provider of geotechnical equipment and instruments. The company has assets that are widely applied in the construction sector to build structures such as dams, tunnels, mines, bridges, pipelines, laboratories, and data centers. Additionally, one distinct branch in the company is working to build sustainable and efficient landfills pumps. One of the active projects of the firm is located in the Netherlands, which is considered as one of the world’s biggest and most technologically advanced environmental dredging program. The project aims to clean the floor of Ketelmeer Lake situated at the Ijssel River. The massive industrial activities in the region have resulted in the accumulation of contaminated sludge and industrial pollutants in the river. The DGSI aims to provide a waste processing facility to remove pollutants from dredged peat and sand. Further, they have claimed, the segregated sand can be used for construction at other locations. Moreover, DGSI is a highly appreciated brand to possess products and services such as equipment rentals, training, and technical support, repair, and calibration of the products to address grave environmental problems. Achieving sustainability and efficiency in the construction and infrastructure industry is paramount to reduce and gradually stop environmental degradation. Various organizations around the world are involved in amplifying the efforts and investments to protect the environment. Such activities are projected to employ a significant number of company operations such as the Ketelmeer projects, thereby supporting the application of geotechnical devices and instruments, subsequently contributing to the revenues in the global geotechnical market.
Nova Metrix LLC
Nova Metrix LLC is one of the biggest companies in the geotechnical market. The company owns a series of subsidiaries that are involved in manufacturing geotechnical instruments, products, and services. Additionally, the company is also a leading provider of fiber optic technologies and solutions. Nova Metrix portfolio of subsidiaries includes Durham Geo Slope Indicator (DGSI) Incorporated, RockTest, Sensornet Limited, Sherborne Sensors Limited, Soil Instruments, Westbay Instruments, Waterloo Hydrogeologic, and Van Essen Instruments. With the help of these acquisitions, the company has expanded its applications and services in the environmental, geotechnical, material testing, software, sensors, construction, energy, consumables serving structural health, and the medical verticals globally. Additionally, the company owns a separate branch for monitoring and analysis purposes called the Nova Analytics. The firm manufactures premium sensors, quality meters, and analyzers to control and analyze the properties of water and wastewater, pharmaceutical, food & beverage, and medical products. With such expanded geotechnical applications and services, the company undoubtedly holds a major share in the global geotechnical market.
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