UNDERGROUND FACILITIES MAINTENANCE MARKET ANALYSIS

Regional Analysis

Regional Analysis of Underground Facilities Maintenance Market:

On the basis of region, the global underground facilities maintenance market is segmented into North America, Europe, Latin America, Asia Pacific, and Middle East and Africa.

In 2017, North America held the dominant position in the underground facilities maintenance market and is expected to retain its dominance over the forecast period. This is owing to increasing adoption of underground facilitates for conveyance of water, oil, and gas. For instance, according to U.S. Energy Information Administration, in November 2015, around 400 underground storage were active in the U.S., which is expected to create a lucrative opportunity for underground facilities maintenance market over the forecast period.

In addition to this, the Asia Pacific region is expected to exhibit with the highest growth rate over the forecast period, owing to rising demand for natural gas in developing economies such as India and China, which will further propel demand for underground facilitates maintenance over the forecast period. For instance, according to Environmental Defence Fund, the Chinese government is focusing on increasing the national working gas storage capacity from 11.7 billion cubic meters (bcm) in 2017 to 14.8 bcm by 2020, and to 35 bcm by 2030.