Geotechnical Instrumentation and Monitoring Market
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The construction industry across the world is expanding swiftly owing to urbanization. In 2017, the total expenditure registered in the global construction market was $11 trillion and the value is projected to reach $13.5 trillion by the end of 2024. The industry is primarily witnessing growth because of the increasing construction activities in countries such as India, China, and the U.S., where China is predicted to witness the fastest growth during 2019– 2014. This is because the Chinese government is increasingly spending on different transportation projects, including road construction and high-speed railway lines. In addition to all this, the construction of skyscrapers in growing around the world. Request Sample Copy of Report :: http://bit.ly/2NExkNf Due to all these factors, the demand for geotechnical instrumentation and monitoring solutions is rising. Geotechnical instruments are needed for the planning of structures in order to determine the specific details regarding the foundation of the building. Among various components, the fastest growth in demand in this market during the forecast period is predicted to be witnessed by the services category. This can be mainly ascribed to the surging demand for these services for monitoring of critical structures in the energy & power sector. Additionally, the focus on old structures, such as dams, is rising, which is leading to the deployment of these instruments and services for monitoring purposes to establish the safety of humans and wildlife in the vicinity. Ample opportunities for growth of geotechnical instrumentation and monitoring market are being offered by the Gulf Cooperation Council (GCC) countries. Its members are increasingly using the geotechnical engineering technology for constructing various stadiums and hotels for upcoming events, such as the World Expo 2020 to be held in Dubai (the U.A.E.) and the 2022 FIFA World Cup in Qatar. The focus on hotel construction is high, as the region is expected to witness an increase in the tourist footfall. The top three players in 2018 were Geokon Inc., Fugro N.V., and Keller Group plc. This was credited to their strong presence in the market, especially in the energy & power, building & infrastructure, and oil & gas sectors.
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