Press release
Environmental Technology Market Outlook 2025-2034: Key Trends, Growth Drivers, and Market Share
How Are the key drivers contributing to the expansion of the environmental technology market?The push from the government towards sustainability and green technology is likely to stimulate the expansion of the environmental technology market in the future. Such government initiatives offer individuals the opportunity to express their perspectives and vote on matters that impact everyone. Through recycling waste, purifying water, curtailing water and air pollution, and preserving nature and its resources, these initiatives contribute to sustainability and green technology. For example, Strom4, a UK-based GreenTech Recruitment firm, reported that in 2023, the Australian government allocated a $740 Million Investment Fund. The objective was to foster the growth of green and low-emissions technologies, inspiring the private sector to equal public investments. The ultimate goal was to establish Australia as a forerunner in scalable green technologies.
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What growth opportunities are expected to drive the environmental technology market's CAGR through 2034?
Over the past few years, the environmental technology market has seen a consistent growth rate. This industry, which is estimated to be around $565.52 billion in size in 2024, is anticipated to increase to $586.5 billion in 2025, accounting for a compound annual growth rate (CAGR) of 3.7%. The growth observed during the historic period can be linked to various factors, including global environmental dilemmas, the transition towards renewable energy sources, the emergence of corporate sustainability programs, improvements in waste management and recycling, heightened awareness regarding air quality issues, and initiatives aimed at reducing carbon emissions.
The forecast for the Environmental Technology market is quite robust with projections indicating a significant enhancement in size over the next few years. The market is predicted to escalate to $780.47 billion by 2029, with a Compound Annual Growth Rate (CAGR) of 7.4%. The growth catalysts for this sector during the forecast period include global focus on climate change, heightened investments in renewable energy, burgeoning demand for sustainable agriculture, initiatives centered on the circular economy, and governmental policies as well as incentives. Foreseen trends for the forecast period encompass advancements in renewable energy, smart grid technologies, solutions for energy storage, practices related to the circular economy, and innovative approaches to water and wastewater treatment.
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What are the emerging trends shaping the future of the environmental technology market?
Major firms in the environmental technology sector are employing a strategic collaboration tactic to bring about market transformation. Strategic collaborations involve businesses harnessing each other's competencies and resources to generate shared success and benefits. For example, in October 2023, Battero Tech Co. Ltd., a firm based in China that is known for its expertise in the creation of cutting-edge battery technologies, formed a partnership with Kale Environmental Technology, a Chinese organization recognized for its focus on renewable energy solutions. It is expected that this joint venture will stimulate innovative advances within the energy storage industry and provide sustainable energy options.
Which growth-oriented segments of the environmental technology market are leading the industry's development?
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
Subsegments:
1) By IoT (Internet Of Things): Smart Sensors, Environmental Monitoring Systems, Smart Waste Management, Energy Management Systems
2) By Artificial Intelligence: Predictive Analytics, Machine Learning Applications, Natural Language Processing For Environmental Data, AI In Resource Management
3) By Cloud Computing: SaaS (Software As A Service) Solutions, PaaS (Platform As A Service) For Environmental Applications, Cloud Storage For Environmental Data, Cloud-Based Analytics Tools
4) By Blockchain: Supply Chain Management Solutions, Carbon Credit Trading Platforms, Renewable Energy Certificates, Data Integrity And Security Solution
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What regions are leading the charge in the environmental technology market?
Asia-Pacific was the largest region in the environmental technology market in 2024.North America is expected to be the fastest-growing region in the forecast period. The regions covered in the environmental technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
What companies are at the forefront of innovation in the environmental technology market?
Major companies operating in the environmental technology market include 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), 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.
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What Is Covered In The Environmental Technology Global Market Report?
•Market Size Forecast: Examine the environmental technology market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the environmental technology market for a structured understanding.
•Key Players Overview: Analyze major players in the environmental technology market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the environmental technology market.
•Segment Contributions: Evaluate how different segments drive overall growth in the environmental technology market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the environmental technology market.
•Industry Challenges: Identify potential risks and obstacles affecting the environmental technology market.
•Competitive Landscape: Review strategic developments in the environmental technology market, including expansions, agreements, and new product launches.
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