According to a recent market report by Future Market Insights, the US$ 2.3 million foundation repair services market is expected to rise slowly between 2018 and 2027. (FMI). According to FMI, ongoing construction industry efforts to improve the quality of construction materials and methods in order to develop high-quality, strong infrastructure will have a negative influence on foundation repair services uptake.
|Estimated Foundation Repair Services Market Size 2022||US$ 2,655.7 Mn|
|Projected Foundation Repair Services (2027) Market Size||US$ 3,027.4 Mn|
|Value CAGR (2022-2027)||2.7%|
|Foundation Repair Services Market Top Players Share in 2021.||5%-10%|
The global foundation repair services market is expected to exhibit a sluggish CAGR of 2.1% during the forecast period, reaching nearly US$ 3 billion by 2027, according to the FMI study. It focuses on a variety of factors instrumental in shaping the foundation repair services market, and provides insights that can help market players to adopt appropriate business strategies based on emerging trends in the market.
Key Points Covered in Foundation Repair Services Market Survey
- Market estimates and forecast 2013-2027
- Key drivers and restraints impacting market growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Global Foundation Repair Services Market and How to Navigate
- Recommendation on Key Winning Strategies
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The study finds that the Asia Pacific excluding Japan (APEJ) accounted for more than 35% revenue share in foundation repair services market in 2018. The rapidly-growing population as well as ever-evolving construction industry in the region have been contributing to growth of the foundation repair services market in the APEJ region.
Rapidly developing in residential sector and civil infrastructural developments with increasing urbanization in the region is expected to create lucrative opportunities for stakeholders in the foundation repair services market in the region. Japan, North America and Europe are also estimated to capture a substantial share of the global foundation repair services market throughout the forecast period, of which the Japan foundation repair services market is expected to witness an increase in its share from 2018 to 2027.
Market Players Focus on Capitalizing on the Rapidly-developing Residential Sector
Foundation repair services are commonly used in both residential and commercial sectors. The FMI study finds that the market value of foundation repair services used in the residential sector remains much higher than those used for foundation repairs in commercial buildings.
Ongoing construction activities in the residential sector, coupled with increasing inclination of consumers towards renovating and home improvement is expected to create lucrative sales opportunities for market players. The FMI study predicts that the residential sector will continue to influence emerging trends and business strategies of stakeholders in the foundation repair services market in the foreseeable future.
Foundation Repair Services for Wall Repair Applications to Remain High in Demand
While foundation repair services find wide-ranging applications, including settlement repair, chimney repair, and floor slab repair, wall repair applications have the largest share in market growth, finds FMI study. Settlement repair services are known to be the most expensive services, which are priced at US$ 10,000 (pile foundation repair) and above. However, foundation repair services employed in wall repair applications are affordable and are likely to witness highest demand in the upcoming years.
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Foundation Repair Services Market will Remain Highly Fragmented
The FMI study finds that, among all the players of the foundation repair services market, only a limited number of manufacturers and other stakeholders have a global presence in the foundation repair services market. Complexities associated with introducing foundation repair services at the global level with growing foothold of local players in every region continue to remain a prominent barrier for market players.
By End User
By Service Type
- Settlement Repair
- Wall Repair
- Chimney Repair
- Floor Slab Repair
- Others (retaining walls, slope stabilization, grouting, & soil nailing)
Key Regions covered:
- North America
- Latin America
- Rest of Latin America
- Rest of Europe
- Rest of APEJ
- GCC Countries
- South Africa
- Rest of MEA
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.