Press release
Environmental Impact Assessments Market Size Projected To Reach $132.15 Billion By 2034 With A Cagr Of 27.9%
Environmental Impact Assessments Market
What Is the Projected Growth of the Environmental Impact Assessments Market?
The environmental impact assessments market size has grown exponentially in recent years. It will grow from $38.56 billion in 2024 to $49.44 billion in 2025 at a compound annual growth rate (CAGR) of 28.2%. The growth in the historic period can be attributed to growing regulatory and public attention on sustainability, increasing public concern over environmental deterioration, rapid pace of industrialization and urbanization, growing awareness of the effects of climate change and environmental pollution, and increasing government regulations on environmental protection.
The environmental impact assessments market is set to experience exponential growth, reaching $132.15 billion by 2029, with a CAGR of 27.9%. Growth is driven by the increasing demand for sustainable development, clean energy investments, demand from various sectors like oil and gas, corporate social responsibility (CSR) focus, and demand for environmental services from the private sector. Trends include AI integration, innovative assessment methods, GIS mapping, and technologies to improve data collection and processing.
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What Are the Different Environmental Impact Assessments Market Segments?
The environmental impact assessments market covered in this report is segmented -
1) By Type: Hydrogeology, Hydrology, Contaminated Land, Geo-Conservation, Geotechnical Engineering
2) By Assessment Method: Screening, Scoping, Environmental Impact Assessments (EIA) Report, Review, Monitoring
3) By Application: Governmental, Industrial, Commercial, Residential, Infrastructure
Subsegments:
1) By Hydrogeology: Groundwater Flow Analysis, Aquifer Testing And Characterization, Contaminant Transport Modeling, Groundwater Resource Management, Water Quality Assessment
2) By Hydrology: Flood Risk Assessment, Stormwater Management Studies, Watershed And River Basin Modeling, Hydrological Impact On Infrastructure, Water Availability And Resource Management
3) By Contaminated Land: Site Contamination Risk Assessment, Soil Remediation And Cleanup Studies, Toxicology And Hazardous Materials Analysis, Landfill And Waste Disposal Impact Studies, Brownfield Site Assessments
4) By Geo-conservation: Geological Site Protection And Management, Biodiversity And Ecosystem Preservation, Assessment Of Natural Heritage Sites, Geological Hazard Mitigation (Landslides, Erosion), Conservation Of Geological Resources
5) By Geotechnical Engineering: Soil And Rock Mechanics Analysis, Ground Stability And Landslide Risk Assessment, Foundation Design And Engineering, Slope Stability Studies, Seismic Hazard And Earthquake Risk Assessment
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What Are the Primary Drivers Shaping the Environmental Impact Assessments Market?
The growing investments in renewable energy are expected to boost the environmental impact assessment market. Renewable energy is derived from natural sources that are continuously replenished. Increased investment in renewable energy is driven by rising awareness of climate change, declining renewable energy technology costs, and the rise of green financing instruments. Environmental impact assessments play a key role in ensuring that renewable energy projects are environmentally sustainable and meet regulatory standards. For example, in June 2024, the International Energy Agency (IEA) projected that global energy investment would exceed $3 trillion for the first time in 2024, with around $2 trillion dedicated to clean energy. China is expected to lead investments, contributing an estimated $675 billion. Therefore, the growing investments in renewable energy are driving the environmental impact assessment market.
Which Companies Are Leading in the Environmental Impact Assessments Market?
Major companies operating in the environmental impact assessments market are AECOM Technology Corporation, Bureau Veritas SA, Stantec Inc., GHD Group, Bidwells LLP, BRE Group, BMT Group Ltd., JBA Consulting, OCA Global Corporate Service S.A., Intertek Group PLC, Aspen Environmental Group, KERAMIDA Inc., Millennium EMS Solutions Ltd., Cholamandalam MS Risk Services Ltd., CSA Ocean Sciences Inc., Japan NUS Co. Ltd., EnviroCentre Limited, NGH Environmental Pty Ltd., Enviro-Sciences Inc., WRA Inc.
What Trends Are Expected to Dominate the Environmental Impact Assessments Market in the Next 5 Years?
Leading businesses within the environmental impact assessment market are looking to innovate through initiatives such as the proactive environmental impact strategy, as a means of predicting and reducing the environmental consequences of significant ventures to endorse sustainable development. This proactive approach goes beyond simple legal compliance and aims to improve environmental outcomes by anticipating and managing potential environmental issues before they materialize. For example, in April 2023, the Environmental Agency Abu Dhabi (EAD), which is the primary environmental regulator in the UAE, inaugurated the Strategic Environmental Assessment (SEA) program. This program incorporates structured steps, including screening, scoping, impact assessment, stakeholder engagement, and constant monitoring, which ensure that environmental aspects are considered at the commencement of strategic projects. The SEA program fosters sustainable growth by guiding mitigation strategies, safeguarding delicate ecosystems, and providing early detection of cumulative impacts, all playing a role in the UAE's environment and Net Zero objectives.
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What Are the Top Revenue-Generating Geographies in the Environmental Impact Assessments Market?
North America was the largest region in the environmental impact assessments market in 2023. The regions covered in the environmental impact assessments market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Environmental Impact Assessments Market?
2. What is the CAGR expected in the Environmental Impact Assessments Market?
3. What Are the Key Innovations Transforming the Environmental Impact Assessments Industry?
4. Which Region Is Leading the Environmental Impact Assessments Market?
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