Meticulous Research®—a leading global market research company, published a research report titled, ‘Environmental Remediation Market by Technique (Soil, Sediment, Ground & Surface Water), Site, Application (Manufacturing, Industrial & Chemical Production, Agriculture, Landfills & Waste Disposal Site), and Geography - Global Forecasts to 2030’.
According to this latest publication from Meticulous Research®, the environmental remediation market is projected to reach $190.2 billion by 2030, at a CAGR of 7.1% from 2023 to 2030. The growth of this market is attributed to the rise in government initiatives for environmental protection, increasing focus on the development of environment-friendly industries, and rapid industrialization and urbanization in developing countries. In addition, the development of advanced remediation technologies and stringent environmental regulations are expected to offer significant opportunities for the growth of this market.
However, technical & non-technical factors in complex sites are a challenge for market growth. Furthermore, the high cost of excavation equipment may restrain the market growth to a certain extent. Nanoremediation techniques are a major trend in the global environmental remediation market. The environmental remediation market is segmented by technique, site, and application. The study also evaluates industry competitors and analyzes the market at the region/country level.
Based on technique, the environmental remediation market is broadly segmented into soil remediation, sediment remediation, and ground & surface water remediation. In 2023, the ground & surface water remediation segment is expected to account for the largest share of this market. This segment is also projected to register the highest CAGR during the forecast period. The large market share and fast growth of this market are mainly attributed to the stringent regulations and policies aimed at protecting the environment and reducing pollution, unorganized waste disposal practices and accidental spillage of hazardous chemicals into water bodies, rising health concerns due to contaminated water sources, and increasing water remediation efforts by companies and individuals.
Based on site, the environmental remediation market is segmented into private and public. In 2023, the public segment is expected to account for the largest market share and is also projected to register the highest CAGR during the forecast period. The large market share of this segment is mainly attributed to the increasing need to clean up a contaminated site for the development of new properties or businesses, companies’ focus on cleaning up pollution or contaminants generated by them, stringent regulations and policies for the environment, rising concerns over environmental pollution from various industries, and growing need to protect public health and the surrounding environment.
Based on application, the environmental remediation market is segmented into manufacturing, industrial and chemical production, agriculture, landfills & waste disposal site, mining & forestry, oil & gas, construction & land development, and other application. In 2023, the manufacturing, industrial and chemical production segment is expected to account for the largest share of the global environmental remediation market. The large market share of this segment is mainly attributed to the growing need for cleaning up contaminated sites, increasing government stringent regulations and policies, the rising need for environmental remediation for efficient industrial operations, and rising concerns over environmental pollution. However, the landfills and waste disposal site segment is expected to register the highest CAGR during the forecasted period due to the increasing initiatives toward remediation of groundwater and government regulations and policies for environmental protection in landfills & disposal sites.
Based on geography, the global environmental remediation market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, Asia-Pacific is expected to account for the largest share of the global environmental remediation market, followed by Europe and North America. The region is also expected to witness rapid growth during the forecast period. The large market share of Asia-Pacific is mainly attributed to the increasing pollution and environmental degradation, surge in environmental regulations, growing awareness about the importance of environmental protection, and the need to address pollution and contamination caused by rapid industrialization and urbanization in the region.
The key players operating in the environmental remediation market are Jacobs Solutions Inc. (U.S.), Tetra Tech, Inc. (U.S.), DEME NV (Belgium), BRISEA Group, Inc. (BRISEA) (U.S.), Weber Ambiental (Brazil), Amentum Services, Inc. (U.S.), In-Situ Oxidative Technologies, Inc. (ISOTEC) (U.S.), NorthStar Group Services, Inc. (U.S.), Golder Associates (a subsidiary of WSP Global Inc.) (Canada), Clean Harbors, Inc. (U.S.), AECOM (U.S.), ENTACT, LLC (U.S.), Terra Systems, Inc. (U.S.), Engineering and Maintenance Solutions (EMS) (Australia), HDR, Inc. (U.S.), Bechtel Corporation (U.S.), Stantec Inc. (Canada), GEO (U.S.), Newterra Inc. (Canada), HEPACO (U.S.), and Sequoia Environmental Remediation Inc. (Canada), among others.
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