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Foundation Repair Services Market By Repair Type (Settlement Repair, Wall Repair, Chimney Repair, Floor Slab Repair, Others), By End-Use (Residential, Commercial) - Growth, Future Prospects, And Competitive Landscape, 2019 -2027

“Increasing number of infrastructure development coupled with technological advancement in foundation repair will boost the market.”

The global foundation repair services market is growing competently, expected to grow at a CAGR of 7.2% during the estimated period from 2019 to 2027, starting from US$ 2.82 Bn in 2018.

The adoption of foundation repair services has been growing worldwide, with increasing needs for restructuring and repair of the foundations of commercial, residential, and industrial buildings. Furthermore, the foundation repair services are engaged in fixing cracks over basement walls, concrete slabs, bricks & blocks, and chimney settlements. Altering weather and soil conditions are expected to fuel the demand for foundation repair services. In addition, regions with fluctuating soil and weather conditions will likely witness increasing demand for services like foundation repair services in the upcoming years.

Technological innovations in foundation repair and elevation systems like “Stabilipier™ Foundation Repair System” have increased the implementation of new technologies by foundation repair services companies, thereby reducing the number of faults and cracks in residential and commercial buildings. Moreover, the advancement of technology and the introduction of automated tools in the construction industry for enhancing the designing process of foundations and other concrete works may decrease the frequency of building failures and accidents, which may restrict the growth of the foundation repair services market on a global scale.

Market Synopsis

End-use Analysis

“Increase in a number of residential buildings accounts have a higher revenue share across the market.”

Residential and commercial construction works are the major end-use sectors in the foundation repair services market. The residential sector is expected to hold a market share of around 72%, exhibiting a higher growth rate during the forecast period. In addition, government initiatives and policies like new funding, public-private partnership (PPP) investments, and infrastructure tax credits are projected to drive market growth over the forecast period.

The steady increase in remodeling activity will continue to grow due to rising home prices, homeowners aging in place, and the non-availability of new construction works, which will boost the global foundation repair services market. For instance, according to the Home Improvement Industry Statistics, around 63% of residential consumers look around for renovation works, with spending of around 25% towards renovation works. Therefore, the aforementioned factors are expected to propel the market growth on a global scale.

Regional Analysis

“Dominance is led by the development of government infrastructural initiatives and projects.”

North America is projected to hold around 38% of the foundation repair services market in 2018. Growing a number of infrastructural projects like commercial buildings and residential apartments in developed countries will boost the market across North America. In addition, the U.S. Government initiatives like low-interest rates for infrastructural projects, incentive grants, rural & federal capital revolving funds, and streamlined permits will accelerate the demand for foundation repair services. Moreover, major foundation service providers in the North American region are providing foundation repair services and expanding their reach globally.

Furthermore, the U.S. Government funding, regulations, and delivered administration towards infrastructure projects is likely to provide more funding’s for infrastructure projects, thereby driving the foundation repair services market over the forecast period.

List of Companies Covered:

  • 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

Key Industry Development:

  • In November 2019, Groundworks, the largest foundation services company, announced its acquisition of Innovative Basement Systems, thereby completing a rebranding from Innovative Basement Systems to Innovative Basement Authority. 
  • In July 2019, Groundworks, the Virginia Beach-based foundation services company, acquired both Ohio Basement Authority and Florida Foundation Authority.
  • In February 2019, Texas Foundation Pros (TFP) expanded its building foundation repair services to Frisco, Texas.
  • In July 2016, Evergreen Basement Systems, Inc. (Evergreen) merged with Virginia-based company JES Foundation Repair (JES) to provide world-class service to customers.

Historical & Forecast Period

This study report represents analysis for each segment from 2017 to 2027, considering 2018 to be the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period from 2019 to 2027.

Segmentation Repair Type (2017–2027; US$ Bn)

  • Settlement Repair
  • Wall Repair
  • Chimney Repair
  • Floor Slab Repair
  • Others

 End-use (2017–2027; US$ Bn)

  • Residential
  • Commercial

 Geography (2017–2027; US$ Bn)

  • North America (the U.S., Rest of North America)
  • Europe (U.K., Germany, France, Rest of Europe)
  • Asia Pacific (Japan, China, India, Rest of Asia Pacific)
  • Rest of the World (Latin America, Middle East & Africa)

The current report also comprehends qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints, and opportunities that give a better market understanding of the overall foundation repair services market. In addition, the global report also represents the competitive landscape based on market initiatives and strategies, product portfolio, and business strengths.

Frequently Asked Questions

The market for Foundation Repair Services is expected to reach US$ 2.82 Bn in 2028.

The Foundation Repair Services market is expected to see significant CAGR growth over the coming years, at 7.2%.

The report is forcasted from 2019-2027.

The base year of this report is 2021.

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 are some of the major players in the global market.

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Trusted By
Godaddy
Published Date:  Jan 2020
Category:  Building & Construction
Report ID:   60152
Report Format:   PDF
Pages:   120
Rating:    4.4 (58)
Delivery Time: 24 Hours to 48 Hours   
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