Geotechnical Instrumentation and Monitoring Market

Market Leadership - Geotechnical Instrumentation and Monitoring Market

The GTIM market is projected to reach USD 4.5 billion by 2025 from USD 2.9 billion in 2020; it is expected to grow at a CAGR of 9.2% from 2020 to 2025. The GTIM market in Asia Pacific is expected to grow at a high rate mainly because of the growing adoption of geotechnical instrumentation and monitoring techniques for various projects in construction, energy & power, oil & gas, and mining verticals. A few of the key emerging trends in this region include growing demand for geotechnical instrumentation and monitoring in energy and power applications and increasing application of geotechnical instrumentation and monitoring in tunnels and bridges.

Key players in the GTIM market include Fugro (Netherlands), Keller Group plc. (UK), Nova Metrix LLC (US), Geocomp Corporation (US), GEOKON (US), Sisgeo S.r.l (Italy), COWI A/S (Denmark), RST Instruments Ltd. (Canada), James Fisher and Sons plc (UK), and Deep Excavation LLC (US).

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Top 2 Players in GTIM Market:

Fugro (Netherland)

Fugro focuses on new projects, partnerships, and expansions to maintain its global market presence. In May 2020, Fugro won a 3-Year contract by ProRail, the government agency that manages the Dutch railway network for geotechnical investigations to support the renewal work of existing railway lines across the Netherlands. Within the framework contract, Fugro will be working closely with ProRail to identify and develop innovative solutions, such as faster cone penetration test (CPT) techniques, that will increase efficiency and reduce the overall number of line closures. Such long-term contracts help the company to grow and maintain good relations with customers. The company has a strong presence in Europe and generates ~40% of its revenue from this region. It should focus on other geographies, such as North America, the Middle East, and South America, for improved revenue generation. Moreover, the high focus of the company on providing integrated, digital, and innovative solutions and services enables clients to operate their construction and infrastructure projects reliably and effectively.

Keller Group plc (UK)

Keller Group focuses on new product and solution launches, along with long-term contracts, to sustain in the highly competitive GTIM market. For instance, in June 2020, Keller completed its first-ever vibro concrete column (VCC) project in Singapore. The successful foundation works for a road in Lorong Halus opens up new benefits for clients and distinguishes the company in a market more familiar with piling and deep soil mixing. The company has strong financial earnings and could consider focusing on implementing inorganic growth strategies, such as mergers & acquisitions, in different regions to establish its presence in countries such as the US, Germany, and China.

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Report Code
SE 5238
RI Published ON
7/29/2020
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