Foundation Repair Services Market Expected To Grow At A CAGR Of 7.2% During The Forecast Period

Foundation Repair Services Market Expected To Grow At A CAGR Of 7.2% During The Forecast Period

The latest market report published by Credence Research, Inc. “Foundation Repair Services Market: Growth, Future Prospects, and Competitive Analysis, 2019 – 2027” the foundation repair services market was valued at US$ 2.82 Bn in 2018 and expected to grow at a CAGR of 7.2% during the forecast period from 2019 to 2027.

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Market Insights:

Increasing number of residential and commercial buildings worldwide will upgrade the market growth during the forecast period

Swift development in the residential, commercial sector and civil infrastructures coupled with growing urbanization on a global scale projected to create lucrative opportunities for the foundation repair services market. In addition, an increasing number of re-modulation works including chimney works, basement walls, concrete slabs will drive market growth. Furthermore, fragmentary construction activities in the residential sector, coupled with increasing consumer inclinations towards home renovation and improvement expected to expand the market over the forecast period.

Fluctuating weather and soil conditions will ramp up the foundation repair services Market

Changing weather conditions and soil topology are the key factors that may affect the foundations of buildings may fuel the demand for foundation repair services. Furthermore, the emerging countries like China, India, Mexico, Brazil, South Africa and other Asian countries have witnessed considerable growth towards the market.

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Indefinite contract and expand of soil with constant cycle of dry and wet periods occurs due to climatic change, increases the rate of expansive stresses that often cause damage to foundations, pier and slabs works. However, the aforementioned factors is expected to increase the foundation repair services.

Industrial Developments:

– In January 2020, Groundworks, the largest foundation services company, announced its acquisition with Foundation Repair of Western Colorado (FRWC). This acquisition will expand its customer’s services across Colorado.

– In November 2019, Alpha Foundations acquires NSquare, Inc. headquartered in Naples thereby, expanding its services to South Florida. This expansion will make Alpha Foundations as one of the largest foundation repair contractors in South Florida.

– In September 2019, Groundworks acquired Ohio Basement Systems, an Ohio’s go-to basement, crawl space & foundation contractor. This acquisition of Groundworks continues to evolve the foundation services industry with its Fourth Acquisition of 2019.

Key Market Movements:

– Globally, the foundation repair services market is rising at a CAGR of 7.2% for the estimated period from 2019 to 2027.

– The foundation repair services markets in North America accounted to have a market share of around 38% in 2018. In addition, the developed nations continue to hold a lucrative market for foundation repair services, thereby creating new growth opportunities with the rapidly growing construction industry across the region.

– Asia Pacific region projected to have a prominent market for foundation repair services with ongoing infrastructural developments in developing countries like India, Singapore, Malaysia and China in the near future.

– The Middle East and Africa to create a moderate incremental opportunity with increasing urbanization and developments in commercial and residential sectors.

– An increasing number of government initiatives, infrastructural development, and increased investments for development in the emerging nations will drive the overall demand.

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List of Companies Covered:

– Acculift Foundation Repair

– Longview Foundation Repair

– DFW Foundation Repair Services

– Home Services Foundation Repair

– Huntsville Foundation Repair

– Windler Foundation Repair Systems

– Grapevine Foundation Repair

– Alfa Foundations

– Kent Foundation Repair

– Tyler Foundation Repair

– Groundworks

– Advanced Foundation Repair

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