New York, July 27, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Soil Stabilization Global Market Report 2023" - https://www.reportlinker.com/p06480084/?utm_source=GNW
, Graymont Limited., Global Road Technology international Holdings Limited., SCR-Sibelco NV, Boral Limited, The Low & Bonar Group, and Tensar International Corporation.
The global soil stabilization market is expected to grow from $26.31 billion in 2022 to $27.76 billion in 2023 at a compound annual growth rate (CAGR) of 5.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The soil stabilization market is expected to reach $33.46 billion in 2027 at a CAGR of 4.8%.
The soil stabilization market includes revenues earned by entities by providing services such as fly ash stabilization and lime & cement soil stabilization.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Soil stabilization refers to the process of improving the physical and chemical properties of soil to enhance its engineering properties and make it suitable for construction or other applications. It involves modifying the soil to increase its strength, durability, and load-bearing capacity.
North America was the largest region in the soil stabilization market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the soil stabilization market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main soil stabilization methods are chemical soil stabilization, mechanical soil stabilization, thermal soil stabilization, and biological soil stabilization.Chemical soil stabilization refers to a technique used to improve the engineering properties of soils by introducing chemical agents into the soil.
The various additives are polymers, mineral agents, and stabilizing agents that are used in commercial, residential, industrial, agriculture, and others.
The increasing construction activities are expected to propel the growth of the soil stabilization market going forward.Construction activities refer to the various tasks and operations involved in the process of constructing, renovating, or building structures such as buildings, infrastructure, and facilities.
The increasing construction activities refer to an increase in the number of construction projects taking place in a given area and have effects on the economy like the creation of jobs in the industry and the need for land, soil resources, and construction materials.Soil stabilization is a crucial process used in construction activities to improve the properties of soil and make it suitable for building foundations, roadways, and other infrastructure projects.
For instance, in November 2021, according to the Office for National Statistics, a UK-based Statistics Authority, the value of new construction work in Great Britain increased by 15.3%, which is $119,750 million. This was $103,815 million in 2020. Further, in 2021, according to U.S. Census Bureau, the federal government’s largest statistical agency, an estimated 1,595,100 housing units were started in 2021, that increased by 15.6% from 1,379,600 in 2020 in the US. Therefore, the increasing construction activities are driving the growth of the soil stabilization market.
Product innovations are a key trend gaining popularity in the soil stabilization market.Companies operating in the soil stabilization market are adopting new innovative products to sustain their position in the market.
For instance, in January 2022, Bomag, a Germany-based manufacturer of construction equipment, including soil stabilizers, launched RS250 and RS300 tractor-towed soil stabilizers for soil stabilization.The tractor-towed stabilizers are made for adaptable usage in the construction of roads and paths as well as in the stabilization of soil.
The 250 model has a milling depth of up to 40 cm, while the 300 model has a depth of 50 cm. Both versions have a working width of 2.5 meters. High-performance cutting technology and optimized power transfer are combined with effective and easy-to-maintain holding systems. They ensure optimum milling performance, consistently smooth milled surfaces, and relatively low fuel usage. For smaller construction sites, maneuverable and light systems are ideal because they are flexible and versatile.
In July 2021, Keller, a UK-based geotechnical engineering company that provides soil stabilization services, acquired RECON Services, Inc. for $23 million. This acquisition expanded Keller’s capabilities in the expanding environmental services industry, environmental remediation, and soil solidification, as well as in the specialized needs of the power, mining, and manufacturing industries. Remedial Construction Services LP (RECON) is a US-based environmental remediation and industrial services company.
The countries covered in the soil stabilization market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The soil stabilization market research report is one of a series of new reports that provides soil stabilization market statistics, including soil stabilization industry global market size, regional shares, competitors with a soil stabilization market share, detailed soil stabilization market segments, market trends and opportunities, and any further data you may need to thrive in the soil stabilization industry. This soil stabilization market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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