Europe Geotechnical Construction Services Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Underground City Space, Slope and Excavation, and Ground and Foundation) and Service (Marine Site Characterization, Site Assessment and Clea

Europe Geotechnical Construction Services Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Underground City Space, Slope and Excavation, and Ground and Foundation) and Service (Marine Site Characterization, Site Assessment and Cleanup, Site Engineering and Design, Environmental Planning and Management, and Others)

The Europe geotechnical construction services market is expected to grow from US$ 319.83 million in 2021 to US$ 414.07 million by 2028; it is estimated to grow at a CAGR of 3.8% from 2021 to 2028.

Minerals are the backbone of human civilization as their use in different applications propelled the development of human civilization. Mineral and products made from minerals are used across industries such as power generation, manufacturing, chemical and petrochemical, healthcare & pharmaceutical, and construction. Setting up a mining site requires geotechnical and earthworks design expertise for surface and underground mapping; underground support analysis; stope, shaft, decline, drift, and tunnel designing; subsidence studies; shaft and drift investigation and designing; geological outcrop mapping; surface geophysical surveys; clean water, industrial, and tailings disposal dams designing; and others. Currently, coal, gold, iron ore, aluminum, and copper are among the most mined minerals due to their vast industrial use. Further, the aggregate revenue of the top 40 mining companies increased steadily from 2016 to 2019. However, in 2020, the outbreak of COVID-19 led to a fall in revenues. Further, with the elevating rate of urbanization and the growing need for energy, the demand for minerals is rising significantly. Such a growing need for minerals is supporting the proliferation of the mining industry, thereby propelling the Europe geotechnical construction services market growth.

In UK, Europe got adversely affected by the COVID-19 pandemic.. The region is expected to suffer an economic hit due to the lack of revenue from various industries. Additionally, with the outbreak of another variant of COVID-19 in the UK, geotechnical construction services manufacturing is expected to get hampered. The region is a significant manufacturing and industrial hub for sectors such as healthcare, aviation, manufacturing, automotive, and energy & power. However, due to the COVID-19 outbreak, many businesses in Europe are facing financial challenges as they had to reduce their activities substantially, owing to the lack of workforce, government-imposed restrictions, and decrease in sales. However, because of increase in construction activities, and following an active lifestyle, there is a demand for geotechnical construction services in the residential sector for several projects. During this time when the COVID-19 pandemic is crippling various industries, public construction has been one of the few industries that has been maintained to some extent. Although activity will likely continue in the short-term, the work is expected to halt soon given various factors including supply chains disruption, shortage of subcontractors and materials, and the termination of contracts to control expenses. These factors have negatively impacted Europe's geotechnical construction services market.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe geotechnical construction services market. The Europe geotechnical construction services market is expected to grow at a good CAGR during the forecast period.

Europe Geotechnical Construction Services Market Revenue and Forecast to 2028 (US$ Million)

Europe Geotechnical Construction Services Market Segmentation

Europe Geotechnical Construction Services Market - By Type

Underground City Space Slope and Excavation Ground and Foundation Europe Geotechnical Construction Services Market - By Service

Marine site Characterization Site Assessment and Cleanup Site Engineering and Design Environmental Planning and Management Others Europe Geotechnical Construction Services Market, by Country

Germany France Italy Russia UK Rest of Europe Europe Geotechnical Construction Services Market - Companies Mentioned

Arup EGS Fugro Gardline Limited Geosyntec Consultants, Inc. HDR Stantec Inc. WSP

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