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

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, geographical regions having fluctuating soil and weather conditions, are likely to witness increasing demand for services like foundation repair services in the upcoming years.

Technological innovation 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, with the advancement of technology and 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.

End-use Analysis

“Increase in 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%, thereby exhibit a higher growth rate during the forecast period. In addition, government initiatives and policies like new funding’s, public private partnership (PPP) investments, and infrastructure tax credits is projected to drive the 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 non-availability of new construction works, which will boost up the global foundation repair services market. For instance, according to the Home Improvement Industry Statistics around 63% of residential consumers looks around for a renovation works, with having a spending of around 25% towards renovation works. The aforementioned factors is expected to propel the market growth on a global scale.

Regional Analysis

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

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

Furthermore, the U.S. Government funding’s, regulations, and delivered administration towards infrastructure projects is likely 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 with 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 had acquired both Ohio Basement Authority and Florida Foundation Authority.
• In February 2019, Texas Foundation Pros (TFP) expanded their building foundation repair services to Frisco, Texas.
• In July 2016, the Evergreen Basement Systems, Inc. (Evergreen) has merged with Virginia-based company JES Foundation Repair (JES), to provide a world-class service to the customers.
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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.

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. Additionally, the global report also comprises graphical representation of competitive landscape based on their market initiatives and strategies, product portfolio and business strengths.

Key questions answered in this report

• What are the current market trends and dynamics in the foundation repair services market and valuable opportunities for emerging players?
• Which segment accounts for the fastest CAGR during the forecast period?
• Which repair type segment holds a larger market share and why?
• Are low and middle-income economies investing in the foundation repair services market?
• What is the market trend and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?