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Dublin, Jan. 25, 2023 (GLOBE NEWSWIRE) -- The 'foundation repair services market size, market share, application analysis, regional outlook, growth trends, key players, competitive strategies and forecasts, 2022 to 2030' report has been added to ResearchAndMarkets.com's offering.
The foundation repair service market reached global revenues amounting to the US $ 3.25 Bn in 2020 and it is anticipated to grow at a CAGR of 7.3% during the forecast period of 2022 to 2030.
The need for foundation repair services has been growing in recent years among homeowners undertaking remodelling and renovation projects. The demand has risen in economies where property prices have been steadily increasing over the past few decades.
Repairing the foundation is essential to ensure the longevity of the property, which may be necessary either on a routine basis or in cases where cracks and crevices appear and may lead to severe structural issues. The demand for foundation repair contractors who have actively developed their competence is consistently expanding to the need for trustworthy and professional service providers. The expansion of metropolitan centres in every region of the world is driving growth in the market for foundation repair services on a global scale.
In addition, the market for foundation repair services is observing enormous demand avenues as a result of the quick development occurring in the commercial and residential sectors in addition to the construction of civil infrastructures. In recent years, there has been a dramatic rise in the cost of newly constructed residences. As a direct consequence of this, a growing proportion of people all over the world are becoming interested in carrying out house improvements. The expansion of the global market for foundation repair services is being driven in part by this issue.
Increasing Level of Urbanization in Emerging Economies Boosting the Market Growth
The rate of urbanisation in developing countries, which is marked by the migration of people from rural to urban areas in emerging economies, is a crucial trend that is supporting the prospects of the market for foundation repair services. As a result of the increased need for licenced contractors in developed markets, service providers have begun to place a greater emphasis on the skills necessary to deliver specialised services for their clients.
In this extremely competitive market space, which is dominated by property dealers and real estate owners, the trend is likely to create a new channel for players to test innovative techniques for generating consumer value. This market space is inhabited by real estate owners. Because of the increasing industrialization that goes hand in hand with economic expansion and the huge investments that are made in R&D activities, these markets account for the vast majority of the demand for ceiling tiles.
Wall Repair Segment Dominating in terms of Global Revenues
The market by repair type is further segmented as settlement repair, wall repair, chimney repair, floor slab repair, and others. In 2021, the wall repair segment held the greatest percentage of the global revenue share. The breakdown of a shallow foundation has the most noticeable effect on the walls of a building, which then develops cracks as a result, therefore, the wall repair segment held a dominant position across the globe. In addition, it is anticipated that the wall repair segment will demonstrate a considerably high growth rate during the forecast period of 2022 to 2030, which will make it an extremely lucrative market to invest in.
Settlement Repair Wall Repair Chimney Repair Floor Slab Repair Others
Key Topics Covered:
2. Executive Summary
3. Foundation Repair Services Market: Competitive Analysis
4. Foundation Repair Services Market: Macro Analysis & Market Dynamics
5. Foundation Repair Services Market: By Repair Type, 2020-2030, USD (Billion)
6. Foundation Repair Services Market: By End-use, 2020-2030, USD (Billion)
7. Geographic Analysis
8. North America Foundation Repair Services Market, 2020-2030, USD (Billion)
9. UK and European Union Foundation Repair Services Market, 2020-2030, USD (Billion)
10. Asia Pacific Foundation Repair Services Market, 2020-2030, USD (Billion)
11. Latin America Foundation Repair Services Market, 2020-2030, USD (Billion)
12. Middle East and Africa Foundation Repair Services Market, 2020-2030, USD (Billion)
13. Company Profile
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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Tags consumer services home service repair service