Major players in the site preparation contractors market are D H Griffin Wrecking Co Inc, Angel Brothers Enterprises Ltd, Plateau Excavation Inc, Bristol Site Contractors LLC, Penhall International Corp, Sherwood Construction Co Inc, Supreme Group Inc, Manafort Brothers Incorporated, Phillips & Jordan (P&J) Inc., Ground Construction Ltd., Keller Inc., Keltbray Ltd., Controlled Demolition Inc., Modern Corporation, and Phillips & Jordan Inc.
The global site preparation contractors market is expected to grow from $276.88 billion in 2022 to $302.88 billion in 2023 at a compound annual growth rate (CAGR) of 9.4%. 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, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The site preparation contractors market is expected to reach $404.75 billion in 2027 at a CAGR of 7.5%.
The site preparation contractors market includes revenues earned by entities by providing site clearing, site surveying, soil testing, site plan design, grading process, and reinforcement and erosion control services.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Site preparation contractors are skilled experts who are accountable for getting a construction site ready before the commencement of actual building work. They formulate a comprehensive strategy for the construction site that includes the placement of structures, roads, utilities, and other elements to guarantee the project’s safe and efficient completion.
Asia-Pacific was the largest region in the site preparation contractors market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in site preparation contractors report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main products of site preparation contractors are walk-behind tillers, handheld trimmers, and handheld augers.Walk-behind tillers are electric or gas-powered tools that use a power-driven rotating movement to chop and combine soil.
The various pieces of equipment involved are excavators, loaders, dump trucks, and others, which are used for industrial, business, and other applications by residential, and non-residential end users.
The increasing construction spending is expected to propel the growth of the site preparation contractor market going forward.Construction spending is an economic indicator that tracks monthly expenses on new construction and includes a variety of construction-related expenditures such as manpower, materials, and infrastructure work.
As the need for new construction projects increases, the construction spending increases, creating more opportunities for site preparation contractors.Additionally, rapid urbanization has also favored increased construction spending.
For instance, according to a statistical report published in March 2023 by the United States Census Bureau, a US-based agency of the U.S. Federal Statistical System, the total construction spending in the United States grew from $1.54 trillion in November 2020 to $1.84 trillion in November 2022, reflecting a 16.3% rise. Therefore, the rise in the construction sector will drive the site preparation contractor market.
Technological advancements are a key trend gaining popularity in the site preparation contractor market.Many contractors are adopting digital tools such as analytics software, drones, GPS, and 3D modelling software to better plan and execute projects.
This has led to improved accuracy, reduced costs, and faster project completion times. For instance, in December 2022, Eyrus Inc., a US-based software business, launched Eyrus Evolved, an end-to-end solution to assist general contractors to make better decisions about progress, risk, and safety. The new technology features an easy-to-use, non-intrusive system that offers full workforce data and analytics in real-time via a consolidated workforce database. Eyrus enables project teams to proactively adapt in dynamic project settings to favorably affect schedule, safety, and cost. The Eyrus platform decreases project administrative overhead by 25% by automating essential operations such as worker on boarding, project timekeeping, and compliance reporting through the integration of construction IoT (Internet of Things) technology.
In June 2022, LJA Engineering Inc., a US-based engineering consulting business, acquired Innovative Land Consultants Inc. for an undisclosed amount. With this acquisition, LJA Engineering Inc. will acquire substantial experience project management, design, and plan preparation from a broad land development background. Innovative Land Consultants Inc. is a US-based engineering and consulting organization that offers surveying, land development planning, site design, and renderings, among other services.
The countries covered in the site preparation contractors market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The site preparation contractors market research report is one of a series of new reports that provides site preparation contractors market statistics, including site preparation contractors industry global market size, regional shares, competitors with site preparation contractors market share, detailed site preparation contractors market segments, market trends, and opportunities, and any further data you may need to thrive in the site preparation contractors industry. This site preparation contractors market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.