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Press Release

 Mar, 26 2024

Growing Infrastructure Development Projects, Including Roads, Bridges, Tunnels, and Buildings drives the growth of the Singapore Ground Investigation Market

The ground investigation market is witnessing steady growth due to increasing construction activities and infrastructure development worldwide. Key drivers include demand for accurate site information, environmental concerns, and regulatory requirements. Technological advancements such as remote sensing and geophysical surveys are enhancing market capabilities. Major players are investing in R&D for innovative solutions. The market is projected to continue expanding, driven by urbanization and the need for sustainable development practices.

Access full Report @ //baronmoving.com/reports/singapore-ground-investigation-market

Data Bridge Market Research analyzes that the Singapore Ground Investigation Market is expected to grow at a CAGR of 3.5% in the forecast period of 2024 to 2031 and was valued at USD 14,760.00 in 2023 and is expected to reach USD 19,386.00 thousand by 2031.  

Key Findings of the Study

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Increasing Focus on Urban Redevelopment and Expansion is expected to drive the Market Growth

Reclamation projects entail extending land areas by reclaiming land from the sea, which is a key approach in Singapore's urban growth. Ground Investigation is critical in these projects. It entails investigating the seabed, evaluating soil conditions, and determining the viability of constructing on reclaimed ground. As the number of reclamation projects increases, Singapore's ground investigation market is positioned for continued growth. Hence, it is expected to fuel the market growth.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2024 to 2031

Base Year

2023

Historic Year

2022 (Customizable to 2016-2021)

Quantitative Units

Revenue in Thousand

Segments Covered

Technique (Trial Pits, Boreholes, Geological Mapping, Gas Monitoring Services and Reports, Surface Water Monitoring, Ground Water Monitoring, Water Wells Investigation and Others), Type of Investigation (Geotechnical Investigations, Environmental Site Assessments (ESA), and Archaeological Investigations), Methods (Advanced Technologies, Traditional Methods, and Remote Sensing), Scale of Projects (Large Scale Projects, Small and Medium Scale Projects), End User (Construction, Transportation, Mining and Quarring, Oil and Gas, Energy and Utilities)

Countries Covered

Singapore

Market Players Covered

GEONAMICS (S) PTE LTD. (Singapore), GROUND INSTRUMENTATION & ENGINEERING PTD LTD (Singapore), Soil Investigation Pte Ltd. (Singapore), Setsco Pte Ltd. (Singapore), CAST Laboratories Pte Ltd., (Singapore), RYOBI-G (Singapore), Fugro(Neatherland), VSL International Ltd. (Switzerland), Geoscan Pte Ltd. (Singapore) among others

Data Points Covered in the Report

In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand

Segment Analysis

Singapore ground investigation market is segmented into five notable segments, based on technique, type of investigation, methods, scale of projects, and end user.

  • On the basis of technique, the market is segmented into trial pits, boreholes, geological mapping, gas monitoring services and reports, surface water monitoring, ground water monitoring, water wells investigation, and others

In 2024, the trial pits segment is expected to dominate the market

In 2024, the trial pits segment is expected to dominate the market with a market share of 45.92% due to their cost-effectiveness, ease of implementation, and ability to provide direct, visual insight into subsurface conditions.

  • On the basis of type of investigation, the market is segmented into geotechnical investigations, Environmental Site Assessments (ESA), and archaeological investigations

In 2024, the geotechnical investigations segment is expected to dominate the market with a market share of 71.81% due to their pivotal role in assessing soil and subsurface conditions

  • On the basis of methods, the market is segmented into advanced technologies, traditional methods, and remote sensing. In 2024, the advanced technologies segment is expected to dominate the market with a market share of 58.75%
  • On the basis of scale of projects, the market is segmented into large scale projects, and small and medium scale projects. In 2024, the large scale projects segment is expected to dominate the market with the market share of 65.63%
  • On the basis of end user, the market is segmented into construction, transportation, mining & quarring, oil and gas, energy and utilities, and others. In 2024, the construction segment is expected to dominate the market with the market share of 43.82%

Major Players

Data Bridge Market Research analysis Ryobi-G. (Singapore), CAST Laboratories Pte Ltd. (Singapore), Geoscan Pte Ltd. (Singapore), GEONAMICS (S) PTE LTD. (Singapore), and GROUND INSTRUMENTATION & ENGINEERING PTD LTD. (Singapore) as major market players in this market.

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Market Developments

  • In August 2023, SETSCO has successfully finalized the acquisition of Security, signaling its foray into the technology sector. This strategic maneuver bolsters SETSCO's capacity to address the increasing needs of the dynamically changing industry. The incorporation of An Security's proficiency in Information Technology security evaluation, testing services, and consultancy has proven to be a valuable asset. This strategic move positions SETSCO to better cater to customers both within and beyond the technology domain, elevating its service capabilities
  • In February 2023, GROUND INSTRUMENTATION & ENGINEERING PTD LTD received a business contract from the Public Utilities Board of Singapore for conducting marine soil investigation and offshore hydrographic survey. This contract is worth around SGD 744,930.00 (USD 553,261.00). Such contracts can enhance company’s reputation in the market
  • In July 2021, Cambodia (BEC) and Singapore’s CAST Laboratories Pte Ltd collaborated to establish the Kingdom's inaugural quasi-national testing laboratory for the construction sector. The Board of Engineers, Cambodia Laboratory (BECL), launched in July, successfully introduced new standards and industry best practices. The collaboration empowered BECL to provide comprehensive product testing, verification, inspection, and certification services for the building sector, enhancing its capabilities and contributing to industry advancement
  • In November 2020, Fugro's subsidiaries, Fugro Singapore Marine Pte. Ltd. and Fugro Japan Co. Ltd., have successfully entered into a Memorandum of Understanding (MoU) with NYK for a strategic partnership in the Offshore Geotechnical Investigation Vessel Business, specifically for Offshore Wind Power Generation Systems. The collaboration aims to leverage the combined expertise of both companies and explore joint operations of an offshore geotechnical investigation vessel in Japan expand geotechnical services domestically, focusing on ground surveys essential for designing foundation structures for offshore wind power generation facilities. This benefit company to strengthen its strategic relation with NYK for future opportunities

For more detailed information about the Singapore Ground Investigation Market report, click here – //baronmoving.com/reports/singapore-ground-investigation-market


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