Press release
Environmental Consulting Services Market Regional Developments, SWOT Analysis, Growth Status, Trends, Business Prospects, and Forecast 2022-2028
According to our latest market study on "Environmental Consulting Services Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Service Type, Media Type, and Vertical," the market was valued at US$ 34,365.5 million in 2020 and is projected to reach US$ 50,974.7 million by 2028; it is expected to grow at a CAGR of 5.4% from 2021 to 2028.Awareness regarding the protection of the environment is increasing in industries. Companies are hiring environmental consultancies for preparing reports of their existing and future projects, along with determining their impact on environment. The rise in revenues is one of the key factors enabling companies to adopt inorganic growth strategies such as acquisitions and expansions for expanding their presence in the global market. For setting up their plant at new locations, they need to get a clearance from the respective government authorities, for which they must present a report based on the conditions of the land and the impact of the construction and the plant on the surrounding environment. Therefore, this companies are increasingly hiring environmental consultancies for their environmental impact assessment.
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Environmental Consulting Services Market: Competitive Landscape and Key Developments
AECOM Inc.; Jacobs Engineering Group Inc.; Arcadis N.V.; Bechtel Corporation; John Wood Group PLC; ERM Group, Inc.; Tetra Tech Inc.; ANTEA GROUP; Stantec Inc.; Ramboll Group; SLR Consulting; and Golder Associates Ltd. are among the major companies operating in the environmental consulting services market.
The regions such as Europe and APAC are expected to exhibit significant growth along with the increasing growth in North America. In Europe, rising awareness in industries regarding their impact on the environment and strict government regulations on environment protection drive the growth of the environmental consulting services market. In terms of geography, the global market was dominated by APAC in 2020, which accounted for almost half of the total market share owing to the highest demand for environmental consulting services. The growing number of manufacturing units of various industries across APAC contributes significantly to the market growth in the region.
Impact of COVID-19 Pandemic on Environmental Consulting Services Market
The COVID-19 outbreak has severely impacted the manufacturing, energy & utilities, chemical & petroleum, and transportation & construction industries. The outbreak pandemic is expected to create tremors through till mid-2021. The electronics equipment and associated services are likely to pick up pace sooner as governments across the world lifted the various containment measure steadily to revive the economy. The US is the most affected country in North America. The growing number of COVID-19 confirmed cases in the country has led the government to impose various containment measure such shutdown of factories, restrictions on travel, and closure of international borders and lockdowns. The huge increase in the number of confirmed cases and rising reported deaths in the country affected both manufacturing and sales of materials.
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The global environmental consulting services market has been segmented as follows:
Environmental Consulting Services Market - by Service Type
• Investment Assessment & Auditing
• Permitting & Compliance
• Project & Information Management
• Monitoring & Testing
• Others
Environmental Consulting Services Market - by Media Type
• Water Management
• Waste Management
• Others
Environmental Consulting Services Market - by Vertical
• Energy & Utilities
• Chemical & Petroleum
• Manufacturing & Process Industries
• Transportation & Construction Industries
• Others
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The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Healthcare, Manufacturing and Construction, Media and Technology, Chemicals, and Materials.
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