Foundation Repair Service Global Market Report 2022: Ukraine-Russia War Impact
NEW YORK, Dec. 2, 2022 /PRNewswire/ --
Major players in the foundation repair service market are Acculift Foundation Repair, Longview Foundation Repair, DFW Foundation Repair Services, Huntsville Foundation Repair, Windler Foundation Repair Systems, Advanced Foundation Repair, The Dwyer Company Inc, Grapevine Foundation Repair, Alfa Foundations, Kent Foundation Repair, Tyler Foundation Repair, Master Service Companies, Olshan Foundation Repair, Helitech, RAM JACK, Basic Foundation Repair, Longview Foundation Repair, BDRY, Siemens Healthineers AG, and Arizona Foundation Solutions
Read the full report: https://www.reportlinker.com/p06368711/?utm_source=PRN
The global foundation repair services market is expected to grow from $2.67 billion in 2021 to $2.81 billion in 2022 at a compound annual growth rate (CAGR) of 5.7%. 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, surge in commodity prices, and supply chain disruptions, effecting manyevery markets across the globe. The foundation repair services market is expected to grow to $3.52 billion in 2026 at a CAGR of 5.8%.
The foundation repair service market consists of sales of foundation repair services by entities (organizations, sole traders, and partnerships) that are used to repair and restructure the foundations of buildings experiencing cracks in concrete slabs and other basement walls. A foundation repair service is a repair that includes installing supports and repairs to the foundation that is damaged.
Â
The main types of foundation repair services are settlement repair, wall repair, chimney repair, floor slab repair, and other repair types.Settlement repair is the process of restoring downward movement of the ground that is damaged by a load consolidating the soil below it or causing displacement of the soil.
The various applications involved buildings, roads, pavements, tunnels, railways, dams, and other applications. The end users included residential and commercial.
Asia-Pacific was the largest region in the foundation repair service market in 2021. The regions covered in this foundation repair services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The increasing number of residential and commercial buildings is expected to propel the growth of the foundation repair service market going forward.A residential building refers to a building that is used for residential purposes.
A commercial building refers to any building which is used primarily for carrying out any business.The foundation repair service is used to repair damaged foundation flooring and other concrete structures for commercial or residential projects, among others.
For instance, in March 2022, according to Statistics Canada, a Canadian-based government agency, investment in residential buildings increased 4.1% to $14.1 billion in January 2022, marking a fourth straight month of growth. Furthermore, in February 2021, according to the Alliance for an Energy-Efficient Economy, an India-based non-profit organization, commercial buildings make up almost 33% of the total developed space in the building industry, and they are projected to grow at a rate of 8â€"10% per year. Therefore, the increasing number of residential and commercial buildings is driving the growth of the foundation repair service market.
Technological innovation is a key trend gaining popularity in the foundation repair service market.Major companies operating in the foundation repair service market are focused on developing new technological solutions to strengthen their position.
For instance, in November 2019, Olshan Foundation Solutions, a US-based company and provider of foundation repair services, introduced a new patented tilt wall repair method.This method reduces the cost and complexity of repairing sunken concrete tilt-wall buildings.
This patented and innovative method provides owners of tilt wall structures with an unprecedented level of value and reliability that saves time and money by avoiding the cost and disruption of total replacement and providing a solution that brings the building back to its original construction elevation in a safe manner.
In January 2020, Groundworks, a US-based foundation services company, acquired Foundation Repair Western Colorado (FRWC) for an undisclosed amount.This acquisition will expand Groundworks’ customer service across Colorado and allow them to better serve homeowners in Colorado with their foundation repair, basement waterproofing, and crawl space repair needs.
Foundation Repair of Western Colorado (FRWC) is a US-based foundation repair service company.
The countries covered in the foundation repair services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The foundation repair services market research report is one of a series of new reports that provides foundation repair services market statistics, including foundation repair services industry global market size, regional shares, competitors with a foundation repair services market share, detailed foundation repair services market segments, market trends and opportunities, and any further data you may need to thrive in the foundation repair services industry. This foundation repair services 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.
Read the full report: https://www.reportlinker.com/p06368711/?utm_source=PRN
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
Contact Clare: [email protected]
US: (339)-368-6001
Intl: +1 339-368-6001
SOURCE Reportlinker
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article