The global foundation repair services market was valued at US$ 2.82 billion in 2018 and expected to grow at a CAGR of 7.2% during the forecast period from 2019 to 2027.
An 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 that may fuel the demand for foundation repair services. Furthermore, emerging countries like China, India, Mexico, Brazil, South Africa, and other Asian countries have witnessed considerable growth in the market.
Indefinite contract and expansion of soil with a constant cycle of dry and wet periods occur due to climatic change, increases the rate of expansive stresses that often cause damage to foundations, pier and slabs works. However, the aforementioned factors are expected to increase foundation repair services.
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 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.
Key Topics Covered
2. Executive Summary 2.1. Market Snapshot: Global Foundation Repair Services (FRS) Market 2.2. Global FRS Market, by Repair Type, 2018 (US$ Bn) 2.3. Global FRS Market, by End-use, 2018 (US$ Bn) 2.4. Global FRS Market, by Geography, 2018 (US$ Bn)
3. Market Dynamics 3.1. Introduction 3.1.1. Global FRS Market Value, 2017-2027 (US$ Bn) 3.2. Market Dynamics 3.2.1. Market Drivers 3.2.2. Market Restraints 3.3. Attractive Investment Proposition, by Geography, 2018 3.4. Market Positioning of Key Players, 2018 3.4.1. Major Strategies Adopted by Key Players
4. Global Foundation Repair Services (FRS) Market, by Repair Type, 2017-2027 (US$ Bn) 4.1. Overview 4.2. Settlement Repair 4.3. Wall Repair 4.4. Chimney Repair 4.5. Floor Slab Repair 4.6. Others
5. Global Foundation Repair Services (FRS) Market, by End-use, 2017-2027 (US$ Bn) 5.1. Overview 5.2. Residential 5.3. Commercial
6. North America Foundation Repair Services (FRS) Market Analysis, 2017-2027 (US$ Bn)
7. Europe Foundation Repair Services (FRS) Market Analysis, 2017-2027 (US$ Bn)
9. Rest of the World Foundation Repair Services (FRS) Market Analysis, 2017-2027 (US$ Bn)
10. Company Profiles 10.1. Acculift Foundation Repair 10.2. Longview Foundation Repair 10.3. DFW Foundation Repair Services 10.4. Home Services Foundation Repair 10.5. Huntsville Foundation Repair 10.6. Windler Foundation Repair Systems 10.7. Grapevine Foundation Repair 10.8. Alfa Foundations 10.9. Kent Foundation Repair 10.10. Tyler Foundation Repair 10.11. Groundworks 10.12. Advanced Foundation Repair