Market Research Report
Environmental Remediation - Global Market Outlook (2020-2028)
|Environmental Remediation - Global Market Outlook (2020-2028)|
Published: July 1, 2021
Stratistics Market Research Consulting
Content info: 150+ Pages
Delivery time: 2-3 business days
According to Stratistics MRC, the Global Environmental Remediation Market is accounted for $96.22 billion in 2020 and is expected to reach $217.01 billion by 2028 growing at a CAGR of 10.7% during the forecast period. Increasing government initiatives for environmental protection and rising awareness regarding effects of toxic waste are driving the market growth. However, high cost of excavation equipment is hampering the growth of the market.
Environmental remediation is a process used to remove chemicals, pollutants, or any type of contaminations from water and soil resources. It is essential to remove the toxic and waste material in order to protect human health as well as the environment. This process is also performed to restore the environment and thereby protecting human life by removal of toxic and waste substances. Environmental remediation technologies are mostly applied in cleaning wastewater, aerosols and solid waste caused due to the production of oil and gas.
Based on the technology, the bioremediation segment is going to have lucrative growth during the forecast period owing to the growing demand for this technology for both soil and groundwater remediation as it eliminates the use of toxic chemicals. Bioremediation is a biological remediation process that uses organisms to reduce or clean up contamination in soil and groundwater. Bioremediation often uses biochemicals and green plants to get rid of harmful chemicals making a cost-effective and safe technology. Therefore, this segment is going to have high demand in the market environmental remediation market.
By geography, North America is going to have high growth during the forecast period due to the several initiatives taken by the government. In North America country, U.S. Environmental Protection Agency (EPA) coordinates the cleanup of brownfields sites and remediation projects. High consumption of oil and gas, and adoption of government regulations for environment protection are driving the environmental remediation market in the region.
Some of the key players profiled in the Environmental Remediation Market include Graham Construction, Inc, Clean Harbors, Inc., Terra Systems, Environmental Remediation Resources Pty Ltd., GEO Inc., Dredging, Environmental and Marine Engineering NV (Deme Group), Brisea Group, Inc., Golder Associates Corporation, Dorton Group, Dredging International, Newterra Ltd, AECOM Technology, Jacobs Engineering Group and Weber Ambiental.
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Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.