Middle East and Africa 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 Ass

Middle East and Africa 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 MEA geotechnical construction services market is expected to grow from US$ 106.26 million in 2021 to US$ 178.46 million by 2028; it is estimated to grow at a CAGR of 7.7% from 2021 to 2028.

With the escalating prices of fossil fuel energy, making it non-feasible for industrial use, organizations are heavily opting for renewable energy to leverage the benefits such as decreased operational costs and government support in the form of tax incentives and subsidies. For instance, Busch-Jaeger, a subsidiary of ABB, runs completely on solar power on sunny days. In 2018, Apple Inc. claimed that the company runs completely on renewable energy due to its commitment to climate change. Likewise, various companies are investing in the development of dedicated in-house clean energy sources by harnessing wind, solar, geothermal energy, and bioenergy. Moreover, companies are exploring options to develop new facilities or relocate their existing facilities to countries in proximity to renewable and clean energy sources. Geotechnical construction expertise plays a crucial role in setting up the infrastructure for clean energy facilities. Thus, with the growing corporate preference for the use of clean energy, the MEA geotechnical construction services market is witnessing significant growth.

In case of COVID-19, MEA is highly affected especially South Africa, followed by Saudi Arabia and the UAE. The MEA region has a smaller number of companies that offer market-specific solutions. According to the Institute of Chartered Accountants in England and Wales (ICAEW), the Middle East economy is anticipated to witness a sharp slowdown in the first half of 2020, regardless of impetus packages as well as monetary rate cuts to relax the economic setback of the COVID-19 outbreak. Further, the Middle East economy has pickup in the second half of 2021, after both demand and supply-side disruptions disappear. In the MEA, the requirement for geotechnical construction services in commercial and industrial applications is more than the residential sector, owing to major use of geotechnical construction services in industries. With the imposition of lockdown, the factories are unable to operate; therefore, there were a dip in the demand in 2020. However, as the lockdown restrictions have been lifted in 2021, the manufacturing and other industrial activities have started again. The number of factories is also growing in the region, leading to the requirements of geotechnical construction services for the factories. Therefore, this factor will have a positive impact on the growth of the geotechnical construction services market in the region.

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 MEA geotechnical construction services market. The MEA geotechnical construction services market is expected to grow at a good CAGR during the forecast period.

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

MEA Geotechnical Construction Services Market Segmentation

MEA Geotechnical Construction Services Market - By Type

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

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

South Africa Saudi Arabia UAE Rest of MEAMEA Geotechnical Construction Services Market - Companies Mentioned

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

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