Los Angeles, January 6, 2020 -QY Research recently published a report titled, “Global Underground Facilities Maintenance Market Size, Status and Forecast 2019-2025”. In 2018, the global underground facilities maintenance market size was US$56577 mn and is expected to reach US$74386 mn by the end of 2025, rising at a CAGR of 4.08% during 2019-2025.
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Need for Systematic and Efficient Management to Drive Market
There is a dire need for systematic and efficient management of underground facilities in urban cities as they are an integral part of modern infrastructure. Underground infrastructure includes electric wires, oil & gas pipelines, water & sewage lines, telephone lines, cables, transportation facilities, and others. These undergo excessive weathering and damage and thus requires timely maintenance.
Underground facilities perform this task by detecting, identifying, and mapping the problem areas. These are setup to prevent and correct the damage to ensure urban infrastructure operates seamless. Underground facilities also track and keep data base, which can avert potential damage caused by digging up sidewalks and paved roads, rerouting water, clearing trees and vegetation with deep roots, gas and telecom lines, and others making it more crucial.
Furthermore, governments across the globe are also increasingly investing in underground facilities maintenance to ensure urban areas function at optimum. All of these factors are expected to favor market growth through the forecast years.
Tunnel Maintenance Segment to Augment Market Demand Globally
Tunnel maintenance is expected to be the key area that will demand assistance from underground facilities. Governments are increasingly investing in underground public transportation such as subways, railways, and roadways that will require consistent tunnel maintenance.
Asia Pacific Region to Hold Significant Share in Market
The developing countries in Asia Pacific regions will hold significant share as governments of developing nations will increasingly invest in underground facilities maintenance. This will be fueled by ongoing infrastructural developments in countries such as China, India, and Japan.
Manufacturers Focus on Expand Underground Utility Locating Service
USIC recently announced a new partnership with Protek Locating. The partnership is expected to expand underground utility locating service footprint within the metro area of New York City. As a division of USIC, Protek will be continue to provide first-rate locating services to their customers. This is expected to help them increase footprint in the market and combat competition.
The key manufacturers covered in this study includes Quanta Services, TATA Projects Limited, USIC, JAPEX, Bilfinger Berger Entsorgung GmbH, Stormwater Maintenance In, Sinohydro Group Ltd, AINS Group, CPP, Aveng, SK Engineering and Construction Company (SKEC), China Water, ACCIONA, Korea District Heating Corporation, Mott MacDonald, and others.
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