Geotechnical USA

Geotechnical Instrumentation and Monitoring Market Forecasted to Reach $6.1 Billion By 2024 in USA and the World

NEW YORK, Oct. 01, 2019 (GLOBE NEWSWIRE) -- According to the market research report published by P&S Intelligence, The global geotechnical instrumentation and monitoring market share is expected to reach $6.1 billion by 2024, advancing with a CAGR of 11.8% during the forecast period. The market is buoyed by increasing government regulations for infrastructural development coupled with steady growth in the construction sector. Furthermore, the growing demand for geotechnical instrumentation in the oil & gas sector is supporting the market growth. Of various components, services are expected to witness the fastest growth in demand in the geotechnical instrumentation and monitoring market during the forecast period. This can be mainly attributed to the increasing demand for these services for the continuous monitoring of critical structures in the energy & power sector. Moreover, there has been an increased focus on the monitoring of old structures, such as dams, keeping in view the safety of humans and wildlife in the vicinity. Get a Sample Copy of this Report: https://www.psmarketresearch.com/market-analysis/geotechnical-instrumentation-and-monitoring-market/report-sample Among the end users, oil & gas is expected to register the highest CAGR, amounting to 13.8%, in the geotechnical instrumentation and monitoring market during the forecast period, owing to the increasing demand for geotechnical solutions for the monitoring of oil and gas pipelines. Furthermore, with the expansion of oil and gas refineries in the Middle Eastern and African (MEA) region, the demand for geotechnical instruments and services is bound to increase. Globally, the geotechnical instrumentation and monitoring market is expected to register the fastest growth in Asia-Pacific (APAC) during the forecast period, on account of the increasing infrastructure projects in developing countries of the region, such as China and India. China is heavily investing in its infrastructure to counter the effects of the economic slowdown. Since 2018, the Chinese government has approved 27 projects, with [...]