$50bn global market:
this is defined at the geotechnical contracting market within the construction industry. It includes China, Japan, Korea and Russia – markets where we don’t operate. If removed, the size drops to $25bn. It is an estimate based on data from IHS and other local sources. Typically geotechnical contracting is around 1% of the construction market.
Wide variety of projects:
variety in terms of scale, location, end use, geotechnical technique. Scale is from around £25k up to more than £10m. Locations are spread all around the globe. End use covers the full range including Infrastructure/Public Buildings, Power/Industrial, Office/ Commercial and Residential. Geotechnical technique includes all our 10 product groups (e.g. bored piling, driven piles, diaphragm walls, deep-soil mixing, vibro compaction, anchors/nails).
Diverse customer base:
typically no single customer is more than 1-2% of Group revenues in a single year. We mostly serve as a subcontractor working for a general contractor, however, also contract directly.
three types of competitor with a large variation between geographies. Type one is the global geotechnical contractors (3-4 of these), not all present in all markets. Type two is the general contractor-owned, national geotechnical contractor. Type three is the local, independent geotechnical contractor (typically family owned businesses).