North America 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 a

North America 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 North America geotechnical construction services market is expected to grow from US$ 546.92 million in 2021 to US$ 817.60 million by 2028; it is estimated to grow at a CAGR of 5.9% from 2021 to 2028.

Transport infrastructure plays a vital role in the development of any economy. It is essential for the streamlined production and distribution of goods and flourishment of the tourism and hospitality industries. Roadways, ports, airports, and railways are complex engineering projects that require geotechnical construction expertise. With the growing emphasis on economic development, governments of various countries are investing significantly in their transport infrastructure development. In June 2019, the Canadian government announced a project worth US$ 500 million for the reconstruction of the country’s longest highway tunnel. High government emphasis on the development and improvement of the transport infrastructure is paving the way for the North America geotechnical construction services market growth.

In the case of COVID-19, North America is highly affected specially the US. COVID-19 has negatively impacted manufacturing businesses in the region in four critical areas - supply chain/operations, workforce, 2020 investments, and product offering. In the first nine months, overhead costs, including expenses for sales, research & development (R&D), and administration of various providers fell adversely, due to severe measures taken during the pandemic. North American providers of geotechnical construction services suffered a significant loss in the first half of 2020, owing to the high number of COVID-19 cases, specifically in the US. Thus, the constant demand for geotechnical construction services witnessed a slight decrease in 2020, owing to the lockdown imposed by the government and low number of construction projects. This has hindered the growth of the geotechnical construction services market last year, which is likely to continue slightly during 2021. The construction & infrastructure sector experienced a massive hit due to the COVID-19 pandemic. The lockdown has caused delays in construction projects, disrupting the supply chain and resulting in an enormous loss. Moreover, the scarcity of laborers has further retarded the expansion of the construction industry. For instance, Boston was the first city in the U.S. to shut down all but emergency construction work to curb the COVID-19 outbreak as virus-related deaths and infections surged. Moreover, suspended oil & gas, mining, and renewable projects have thwarted the geotechnical services market growth during coronavirus. For instance, in April 2020, Ørsted, the Denmark-based company, delayed five of its projects off the U.S. East Coast due to impacts of coronavirus pandemic.

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

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

North America Geotechnical Construction Services Market Segmentation

North America Geotechnical Construction Services Market - By Type

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

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

US Canada Mexico North America Geotechnical Construction Services Market - Companies Mentioned

Arup EGS Fugro Geosyntec Consultants, Inc. HDR Kiewit Corporation Stantec Inc. Wagman, Inc. WSP

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