What Has Been the Progress and Growth of the Underground Facilities Maintenance Market in Recent Years?
The underground facilities maintenance market has seen considerable growth due to a variety of factors.
• The market size of the underground facilities maintenance sector has seen healthy growth lately. It will escalate from $71.1 billion in 2024 to $75.03 billion in 2025, representing a compound annual growth rate (CAGR) of 5.5%.
The notable growth observed in the historic period is due to factors such as the mounting demand for modernization and upgrading of existing underground structures, growing environmental concerns and regulations, increasing infrastructure investment, surges in construction activity, and the evolution of public-private partnerships.
What Can Be Expected from the Underground Facilities Maintenance Market Size?
The underground facilities maintenance market is expected to maintain its strong growth trajectory in upcoming years.
• Predictions for the underground facilities maintenance market suggest a robust expansion in the upcoming years, with an expected size of $92.33 billion in 2029, growing at a compound annual growth rate (CAGR) of 5.3%.
Various factors contribute to this prospective growth during the forecast period including rising demand for renewable energy, ongoing urbanization and business expansion, increasing use of cloud hosting, enhanced consciousness about cleanliness, management, maintenance, and security as well as increasing demand for natural gas. The forecast period will also witness key trends such as technological advancements, product innovation, strategic alliances and mergers, the integration of IoT for real-time surveillance, and progress in material science resulting in more durable repairs.
What Are the Critical Driver Fuelling The Underground Facilities Maintenance Market's Growth?
The surge in the need for renewable energy sources is set to drive the progression of the underground facilities maintenance market in the future. Resources like solar, wind, and hydropower, which naturally replenish and produce energy without exhausting the Earth's resources, make up these renewable energy sources. They're becoming more sought after due to their potential to minimize greenhouse gases, lessen the environmental footprint, and offer sustainable energy remedies in the midst of escalating worry about climate change and energy security. Maintenance of underground facilities supports this rising demand for renewable energy by ensuring efficient operation and extended lifespan of subterranean structures like energy storage and geothermal systems. For example, the France-based International Energy Agency (IEA) reported in January 2024 that the global additions to renewable electricity capacity reached 507 GW in 2023 and is forecasted to exceed 738 GW by 2028. Hence, the increasing demand for renewable energy sources is fuelling the expansion of the underground facilities maintenance market.
How Is The Underground Facilities Maintenance Market segmented?
The underground facilities maintenancemarket covered in this report is segmented –
1) By Type: Underground Cable Maintenance, Underground Pipe Maintenance, Tunnel Maintenance, Other Types
2) By Service: Installation Services, Maintenance Services
3) By Technique: Trenchless, Open-Cut
4) By Material: Concrete, Metal, Plastic
5) By Industry Vertical: Public Works, Utilities, Transportation, Commercial
Subsegments:
1) Underground Cable Maintenance: High-Voltage Cable Maintenance, Fiber Optic Cable Maintenance
2) Underground Pipe Maintenance: Water Pipe Maintenance, Sewer Pipe Maintenance
3) Tunnel Maintenance: Structural Maintenance, Safety Inspection
4) Other Types: Manhole Maintenance, Storm Drain Maintenance
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What New Trends Are Influencing The Underground Facilities Maintenance Market?
Companies at the forefront of the underground facilities maintenance market are leveraging technological advancements, such as real-time kinematic receivers, to establish their dominance. A real-time kinematic receiver is a sophisticated satellite navigation tool that delivers centimeter-level accuracy by utilizing corrective signals from a stationary base station. For example, in May 2024, Subsite Electronics, an American firm specializing in electronic goods for the subterranean construction sector, introduced the UtiliGuard 2 RTK (Real-time kinematic) receiver. It offers centimeter-precise precision in locating and mapping utilities. What sets the UtiliGuard 2 RTK receiver apart is its unique combination of features aimed at improving utility verification and precision on the site. It provides dependable positioning information, enabling operators to promptly verify installed utilities and tailor their bids to meet the specific requirements of the site. Its high-precision accuracy gives invaluable insight into the underground infrastructure, aiding workers in preventing cross bores in future works. The receiver combines data capture, GPS positioning and an intuitive interface to enhance work quality and awareness of locations. It also features a dead-reckoning functionality that ensures accurate locating even in environments with weak GPS signals, and a multi-frequency fault detection attribute, helping contractors accurately locate faulty power lines across a customizable frequency range up to 10 kHz.
Who Are the Key Players In The Underground Facilities Maintenance Market?
Major companies operating in the underground facilities maintenance market are:
• ACCIONA
• Quanta Services
• Jacobs Engineering Group Inc.
• Fluor Corporation
• WSP Global Inc.
• Kiewit Corporation
• USIC
• AMEC Foster Wheeler Plc.
• Stantec Inc.
• Parsons Corporation
• Korea District Heating Corporation
• Mott MacDonald Group
• HDR Inc.
• BGC Engineering Inc.
• Ramboll Group AS
• GeoStabilization International LLC
• Suez Water Inc.
• Geosyntec Consultants Inc.
• SK Engineering and Construction Company (SKEC)
• Keller NA
• AINS Group
• Stormwater Maintenance Inc.
• TATA Projects Limited
• JAPEX
• DMT Group
What Is The Most Dominant Region In The Underground Facilities Maintenance Market?
North America was the largest region in the underground facilities maintenance market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the underground facilities maintenance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
