Press release
Environmental Technology Market Size, Insights, Growth Rate, Trends Analysis And Forecast To 2033
Environmental Technology Market
The environmental technology market size is expected to see strong growth in the next few years. It will grow to $719.79 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to global emphasis on climate action, increasing renewable energy investments, rising demand for sustainable agriculture, circular economy initiatives, government policies and incentives.. Major trends in the forecast period include renewable energy advancements, smart grid technologies, energy storage solutions, circular economy practices, water and wastewater treatment innovations..
Market Overview -
Environmental technology refers to the use of environmental sciences in the advancement of technology aimed at conserving, monitoring, or reducing the harm to the environment while consuming its resources that are used for achieving environmental sustainability goals with the means of technology.
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Government Initiatives For Sustainability Drive Growth In Environmental Technology Market
The government's initiatives toward sustainability and green technology are expected to propel the growth of the environmental technology market going forward. Government initiatives are a way for people to have their voices heard and get a chance to vote on issues that affect all of us. Government initiatives help towards sustainability and green technology by recycling waste, purifying water, reducing pollution in water sources and air, and conserving the natural environment and resources. For instance, in November 2021, the UK launched the """"Clean Green Initiative,"""" which is a funding package to roll out environmental technologies in developing countries. The package will invest $3.7 billion in the rollout of environmental technology in developing countries. Therefore, initiatives taken by governments across the world to increase green technology are driving the environmental technology market growth.
Competitive Landscape -
Major companies operating in the environmental technology market report are Lennox International Inc., Abetment Technologies Inc., AECOM Technology Corporation, Teledyne Technologies Incorporated, Thermo Fisher Scientific Inc., Veolia Environnement S. A., Biffa plc, Svante Inc., Carbon Clean Solutions Limited, Total S. A., Covanta Holding Corporation, Cypher Environmental Ltd., CarbonCure Technologies Inc., TRC Companies Inc., Indigo Agriculture Inc., Impossible Foods Inc., GlaxoSmithKline plc (GSK), ecoRobotix SA, Centre for Process Innovation (CPI), Transfix Inc., Ricardo plc, Measurabl Inc., Cloverly Inc., Sourcemap Inc., Johnson Matthey plc, GridX Inc., Tortuga AgTech Inc., AIR COMPANY Corp., R-Zero Holdings Inc., UL Solutions Inc.
Strategic Partnership To Transform The Market
Major companies operating in the environmental technology market are adopting a strategic partnership approach to transform the market. Strategic partnerships refer to a process in which companies leverage each other's strengths and resources to achieve mutual benefits and success. For instance, in October 2023, Battero Tech Co. Ltd., a China-based company that specializes in the development of advanced battery technologies, partnered with Kale Environmental Technology, a China-based company that specializes in the development of renewable energy solutions. It is anticipated that the collaboration would foster innovation in the energy storage sector and offer sustainable energy solutions.
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Key Segments -
The environmental technology market covered in this report is segmented -
1) By Technology: IoT, Artificial Intelligence, Cloud Computing, Blockchain
2) By Components: Services, Solutions
3) By Application: Air and Water Pollution Monitoring, Water Purification, Crop Monitoring, Management of Carbon Footprints, Waste Management, Other Applications
4) By Vertical: Residential, Industrial Transportation and Logistics
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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