The “Foundation Repair Services Market: Growth, Future Prospects, and Competitive Analysis, 2023 - 2030” the foundation repair services market was valued at US$ 3.25 Bn in 2020 and expected to rise at a CAGR of 7.3% during the forecast period from 2023 to 2030.

In recent years, homeowners undertaking renovations have needed more foundation repair services. In economies with rising housing prices, demand has risen. Repairing the foundation ensures the property's durability and may be needed routinely or when cracks and gaps cause structural difficulties. Trustworthy, professional foundation repair contractors are in high demand. The rise of global cities is generating demand for foundation repair services. The rapid growth in the commercial, residential, and civil infrastructure sectors has also boosted the demand for foundation repair services. Property prices have risen dramatically in recent years. As a result, more people are interested in home upgrades. These factors are driving the growth of the worldwide foundation repair market.

The pandemic caused by the spread of COVID-19 had an adverse impact on the construction market and supply chain as well. Lockdowns and strict government rules disrupted the supply and demand for raw materials, affecting industrial facilities around the world. A dearth of workers, lockdowns, and a decrease in economic activity slowed building efforts. According to the National Bureau of Statistics in China, 54 million rural migrant workers are working in the construction industry. Migrant labourers who returned home for the Lunar New Year break in 2020 were prohibited from returning to work. Despite difficulties, the construction market is recovering. According to the National Association of Realtors (NAR), existing home sales hit $6 million in March 2021, a 12.3% year-over-year increase from 2020. The median sales price jumped 17% year-over-year to $329,100.

Migration from rural to urban regions in emerging nations is a key trend boosting the market for foundation repair services. Due to the rising requirement for licenced contractors in developed markets, service providers are putting more focus on specialised skills. In this highly competitive sector, dominated by property dealers and real estate owners, the trend may establish a new channel for companies to explore creative consumer value-creation approaches. Property owners live in this market. Due to rising industrialisation and R&D spending, these markets account for most ceiling tile demand. Fast industrialization in these economies has led to tremendous growth in the building and infrastructure industries, which has increased the demand for foundation repair services. In addition to rising manufacturing operations and industrial bases, easy access to raw materials and cheap labour is expected to boost demand for foundation repair services. Population growth, rising disposable incomes, and higher demand for infrastructure-related services are expected to fuel market growth. Changes in global weather patterns are a major cause of an increase in damage to building foundations.

The report segmented the market based on repair type which is further sub-segmented as settlement repair, wall repair, chimney repair, and floor slab repairs. The Wall repair segment held the largest global revenue share in 2021. Walls develop fractures when a shallow foundation fails, hence wall restoration had the largest market share. Wall repair is expected to grow rapidly during the forecast period 2023 to 2030, making it the most lucrative market for investors. Residential and commercial end-users are also included in the report under the end-user segment. In 2021, residential accounted for more than 70% of worldwide revenue. This sector is also expected to grow faster than expected. Due to commercial construction's deep foundations (pier and piling), foundation repair is less frequent and commercial buildings last longer. Planning and construction of commercial buildings are supervised by a skilled engineer, reducing errors and breakdowns. The commercial segment has a smaller revenue share and slower growth than the residential segment, making it less profitable.

In 2021, North America contributed approximately 35% of global sales thereby dominating the global market. North American residents’ larger disposable income allows them to spend more on home repairs, renovations, and restoration. Stringent government legislation for building safety and a rise in government spending on building restoration and repairs are expected to propel market growth over the forecast period. Low loan rates for infrastructure projects, incentive grants, rural & federal capital revolving funds, and expedite approvals will boost demand for foundation repair services in North America. Asia Pacific will be the fastest-growing region from 2023 to 2030, with the greatest CAGR. One reason India and China focus on old building renovation. As human activities continue to impact the environment, man-made natural disasters have become more common in India in recent decades. The Bhopal gas plant disaster, Chennai, Hyderabad, and Mumbai flooding were all caused by human mistakes. Due to natural calamities, foundation repair services are in high demand in Japan. Japan's Foundation Repair Services business is expected to grow at a high CAGR. Natural catastrophes commonly strike Osaka, Kobe, and Tokyo in Japan. These places should see a high demand for foundation repair services. Coastal locations are also prone to natural calamities. These elements should increase APAC's market growth.

The global foundation repair market is fairly fragmented. Globally renowned market players have led to an intense level of competition as they are well established. Top market suppliers use multiple strategies to increase market share. Tier 1 players prioritise mergers and acquisitions. This expands their services and boosts their market position. The research outlines industry players' primary, secondary, and tertiary strategies. The study discusses strategies such as geographic expansions, strategic collaborations, product launches, and technology advances. 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, and others are covered in the report.

Key Market Trends

• The foundation repair service market reached $3.25 billion in 2020 and is expected to rise at a CAGR of 7.3% during the forecast period of 2023 to 2030.
• Wall repair segment held the largest global revenue share in 2021.
• Wall repair is expected to grow rapidly during the forecast period 2023 to 2030, making it the most lucrative market for investors.
• In 2021, residential accounted for more than 70% of worldwide revenue.
• The commercial segment has a smaller revenue share and slower growth than the residential segment, making it less profitable.
• In 2021, North America contributed approximately 35% of global sales thereby dominating the global market.
• Asia Pacific will be the fastest-growing region from 2023 to 2030, with the greatest CAGR.
• The global foundation repair market is fairly fragmented.

*Complete segmentation list is on report page