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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.
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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Related Reports:
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Instrumentation and Monitoring Market
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