South 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

South 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 SAM geotechnical construction services market is expected to grow from US$ 56.19 million in 2021 to US$ 69.28 million by 2028; it is estimated to grow at a CAGR of 3.0% 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. 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 as a part of 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 to relocate their existing facilities to countries that are 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 SAM geotechnical construction services market is projected to witness significant growth in the coming years.

In case of COVID-19, SAM is highly affected especially Brazil, followed by Peru, Chile, Colombia, and Ecuador, among others. SAM countries have been witnessing growth in a number of industries over the past few years. Industries such as automotive, aerospace, and equipment manufacturing have experienced a fair growth rate. However, the COVID-19 outbreak has created a significant turmoil among the manufacturers across the industries. The governments in SAM have taken an array of actions to protect their citizens and contain the COVID-19 spread. Although, Brazil has the largest industrial sector, it is the worst-hit country due to the COVID-19 outbreak. This situation highlights limited raw material resources and investments toward manufacturing of geotechnical construction services, which has slowed down the market growth. It has impacted several geotechnical construction services manufacturers in SAM. However, with the release of lockdown restrictions, the geotechnical construction services manufacturers have started their services again, and the market is expected to have a significant growth in coming years.

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

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

SAM Geotechnical Construction Services Market Segmentation

SAM Geotechnical Construction Services Market - By Type

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

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

Brazil Argentina Rest of SAM SAM Geotechnical Construction Services Market - Companies Mentioned

Arup EGS Fugro Gardline Limited HDR Stantec Inc. WSP

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