Environmental Remediation Market Worth $190.2 Billion by 2030 - by Meticulous Research®

According to a new market 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,' this market is projected to reach $190.2 billion by 2030, at a CAGR of 7.1% from 2023 to 2030.
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Environmental remediation is the process of removing pollution or contaminants from the environment. This can be done through various methods, such as removing contaminants physically or treating them through chemical or via natural processes. The goal of environmental remediation is to turn the contaminated site into a state that is safe for humans and the environment. It is an important aspect of environmental protection and can help prevent long-term environmental and public health damage.

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.

Impact of COVID-19 on the Environmental Remediation Market

The COVID-19 pandemic led to temporary shutdowns or reduced operations due to lockdowns and other measures implemented to slow the spread of the virus. This hampered the demand for remediation services, decreasing revenue for companies operating in the environmental remediation market. The economic downturn caused by the pandemic also led to a decrease in funding for environmental remediation projects, further impacting market growth.

However, the pandemic also brought increased attention to the importance of environmental protection and the role of environmental remediation in preserving public health. Several leading environmental remediation players leveraged this crisis as a new opportunity to restructure and expand their product offerings. For instance, in March 2021, AECOM (U.S.) launched its first large-scale field demonstration of DE-FLUORO, an environmentally sustainable treatment technology to eliminate Per- and Polyfluoroalkyl Substances (PFAS) chemicals from contaminated liquids without generating hazardous waste. It will be important for companies in this sector to adapt and find ways to continue providing these vital services. Such developments, along with the rising need to remove pollution or contaminants from the environment, are expected to support this market's growth over the coming years.

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The environmental remediation market is segmented based on technique (soil remediation (In-situ soil remediation technique, Ex-situ soil remediation technique), sediment remediation (In-situ sediment remediation technique, Ex-situ sediment remediation technique), ground & surface water remediation (In-situ groundwater and surface water remediation technique, Ex-situ groundwater and surface water remediation technique), site (private, public), application (manufacturing, industrial, and chemical production, agriculture, landfills & waste disposal site, mining & forestry, oil & gas, construction & land development, and other applications), and geography. The study also evaluates industry competitors and analyses the market at the regional and country levels.

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 growth of this segment is mainly attributed to the stringent regulations and policies aimed at protecting the environment and reducing pollution, the increasing need to remove contaminants and components in ground & surface water that can harm human health and the surrounding environment, 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 site segment is expected to account for the largest share of this market. The public segment is also projected to register the highest CAGR of the global environmental remediation market. The large market share and growth of this segment are mainly attributed to the growing need to clean up contaminated sites for the development of new properties or businesses in the area, the surge in demand for waste disposal at public sites, companies' focus on cleaning up pollution or contaminants generated by them, enforceable regulatory frameworks on contamination on public site, increased government attempts to limit pollution, and growing need to protect public health and the surrounding environment.

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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 manufacturing, industrial, and chemical companies' growing need to clean up contaminated sites, increasing government stringent regulations and policies, the need for environmental remediation for efficient industrial operations, and rising concerns over environmental pollution.

However, the landfills and waste disposal site segment is projected to register the highest CAGR during the forecasted period due to the increasing initiatives for groundwater remediation, rising industrialization and urbanization, 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 report also includes an extensive assessment of the key growth strategies adopted by the leading market participants between 2020 and 2023. 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).

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/environmental-remediation-market-5447

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