Foundation repair services refer to repair services provided when a building is damaged, such as cracks in doors and windows, sloped floors, ceilings and walls, cracked tiles, sagging beams, detached drywall, sloping grout lines.
In terms of type, foundation repair services include settlement repairs, wall repairs, chimney repairs and floor slab repairs. Settlement is the downward movement of a building foundation. Most of the time, subsidence is caused by changes in underlying soil conditions, which is sometimes associated with uplift or upward movement of the original landform. Large trees and plants, and flooding are also contributing factors to subsidence. The principle of settlement repair solutions is to inject expanded geopolymer material beneath the house. As the volume expands, geopolymers can fill voids in the soil, force drainage, and compact the soil to create a solid foundation under the foundation or floor. Wall damage is generally manifested as inward cracking and bending of concrete blocks or unreinforced cast walls due to the external force of expansive soil or hydrostatic pressure, or the inward slope of the top of the basement wall, so wall repair services can be supported by wall anchors or beams system. Under normal circumstances, after the chimney runs for a long time, there will be problems such as dust accumulation on the inner wall, damage to the top of the chimney, paint peeling from the old hoop, cracking of the chimney, and lightning protection aging. After the concrete floor is poured, there may be shrinkage, temperature deformation, excessive foundation settlement, and the applied load exceeds the design value, resulting in cracks or even damage. These problems can be solved by repair services such as reinforcement and repair of the concrete floor. In 2020, the market shares of the above foundation repair services are 34.11%, 27.45%, 10.02% and 17.24% respectively.
Foundation repair services are widely used in residential and commercial buildings. Residential buildings are buildings used by people in their daily lives, including residences, villas, dormitories and apartments. Commercial buildings are buildings for people to engage in various commercial activities, including retail stores, shopping malls and wholesale markets for various daily necessities and means of production, trading venues and commercial office buildings in the financial and securities industries engaged in business activities, and various services. Sexual buildings, including hotels, restaurants, cultural and recreational facilities, etc. In 2020, the market share of repair services for residential and commercial buildings was 77.15% and 22.85%, respectively.
US Foundation Repair Services Market is Largest and Growing
The United States is the largest revenue market in the foundation repair services industry, with a market share of 82.29% in 2015 and 82.97% in 2020, an increase of 0.68%. In 2020, the market shares of Canada and Mexico are 9.25% and 7.78%, ranking second and third.
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With a developed economy, a high degree of urbanization, the United States has more and more residential and commercial buildings. With the increasing demand for foundation repair and reorganization of residential, industrial, and commercial buildings, foundation repair services are widely used in the U.S. market. At the same time, there are many international companies in the foundation repair service market in the United States, with high-quality management teams, technical and financial advantages. Through continuous innovation, they have built the company brand effect and improved its international reputation, which will promote the growth of market demand for foundation repair services in the United States. Research data shows that the value of foundation repair services in the United States accounts for more than 80% of the entire North American market, and the market value is expected to continue to grow.
Mexico is a potential market for basic repair services. As urbanization accelerates, more residential and commercial buildings in Mexico are built, so the need for foundation repair services will increase. In addition, the north of Mexico has a tropical desert climate, while the south has a tropical rainforest climate. Such climatic diversity requires more comprehensive foundation repair services.
Foundation repair service companies are mainly from the United States, and the industry concentration is not high. The top three companies are Groundworks, RAM JACK, and Advanced Foundation Repair, with 2019 revenue market shares of 10.90%, 4.44%, and 2.82%, respectively.
Under the Stimulation of COVID-19, the Intelligent Process of Foundation Repair Services Will Accelerate
Variable weather, changing soil conditions and increasing demands on the construction industry in North America will likely increase the demand for foundation repair services in the coming years. As the global warming effect spreads, the climatic conditions in North America will be affected. Its buildings will have difficulty adapting to the changing climatic conditions, which may increase the degree of building damage and therefore the demand for foundation repair services will increase.
According to research data, the total revenue of the North American foundation repair services market was 866.0 million US dollars in 2015, and it increased by 1128.99 million US dollars in 2019. We predict that the foundation repair services market can be worth $1880.8 million by 2027. From 2019 to 2027, the CAGR of foundation repair services is 6.60%.
COVID-19 is forcing people to spend more time indoors. It was concluded that most respiratory diseases are also transmitted indoors. Therefore, the importance of indoor air quality and indoor conditions is part of the long-term response to the COVID-19 epidemic. Regular foundation repair services can reduce bacterial growth and create a healthier indoor environment, which not only reduces the risk of disease transmission, but also improves personal health and productivity. Improving the indoor environment can reduce the incidence of colds, flu and related diseases, and can also bring huge economic benefits. This trend towards a healthy built environment will increase the demand for foundation repair services in the construction industry, boosting the growth of the industry.
Influenced by COVID-19, the digitization of the economy is accelerating, especially in smart manufacturing. Automation and intelligence will undoubtedly greatly reduce the dependence on manpower, and can better resume production and work when the epidemic occurs. Automation and intelligence can improve the efficiency of foundation repair services. For example, using more advanced, smarter machines to detect cracks in ceilings could fix them faster. Therefore, combining foundation repair services with intelligence will reduce labor and enterprise costs, which will become the future trend of the foundation repair service industry.
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