Environmental Planning and Management Segment is Expected to be Fastest Growing During Forecast Period for MEA Region

According to a new market research study on “MEA Geotechnical Construction Services Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type and Service” is expected to reach US$ 178.46 million by 2028 from US$ 106.26 million in 2021. The market is estimated to grow at a CAGR of 7.7% from 2021 to 2028. The report provides trends prevailing in the MEA geotechnical construction services market along with the drivers and restraints pertaining to the market growth. Rising deployment of offshore wind farms and growing use of renewable technologies for cleaner and greener environment are the major factor driving the growth of the MEA geotechnical construction services market. However, economic, and political instability hinders the growth of MEA geotechnical construction services market.      

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.

The MEA geotechnical construction services market is segmented into type, service, and country. Based on type, the market is fragmented into underground city space, slope and excavation, and ground and foundation. The ground and foundation segment dominated the market in 2020 and underground city space segment is expected to be fastest growing during forecast period. By service, the market is categorized into marine site characterization, site assessment and clean-up, site engineering and design, and environmental planning and management. The site engineering and design segment dominated the market in 2020 and environmental planning and management segment is expected to be fastest growing during forecast period. Based on country, the market is segmented into the UAE, Saudi Arabia, South Africa, and rest of MEA.     

Arup; EGS; Fugro; Geosyntec Consultants, Inc.; HDR; Stantec Inc.; and WSP are among the leading companies in the MEA geotechnical construction services market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Fugro has opened a new state-of-the-art remote operations centre (ROC) in Abu Dhabi, which is already successfully delivering remote and autonomous solutions to clients in the Middle East and India (MEI) area.   

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