Press release
Environmental Technology Industry Outlook 2025-2029: Market Set to Cross $780.47 Billion Milestone
Environmental Technology Market Growth
How Large Will the Environmental Technology Market Size By 2025?
The scale of the environmental technology market has been expanding consistently in recent years. Its size is projected to increase from $565.52 billion in 2024 to $586.5 billion in 2025, indicating a compound annual growth rate (CAGR) of 3.7%. Factors such as global environmental issues, the shift towards renewable energy, the rise in corporate sustainability programs, waste management and recycling, awareness about air quality concerns, and initiatives to cut down carbon emissions have all influenced the growth witnessed in the historic period.
How Big Is the Environmental Technology Market Size Expected to Grow by 2029?
Strong expansion is anticipated in the environmental technology market size in the upcoming years. It is projected to escalate to $780.47 billion by 2029, with a Compound Annual Growth Rate (CAGR) of 7.4%. This growth during the prediction period can be linked to the worldwide focus on climate change interventions, expanding investments in renewable energy, surging necessity for sustainable farming, initiatives for a circular economy, and government strategies and incentives. Key trends during this forecast period consist of advancement in renewable energy, smart grid technology, energy storage resolutions, circular economy tactics, and water and wastewater treatment innovations.
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Which Key Market Drivers Powering Environmental Technology Market Expansion and Growth?
The advancement of the environmental technology market is anticipated due to the government's actions towards sustainability and green technology. These government initiatives not only allow citizens to express their opinions and vote on matters that impact everyone, but they also aid in establishing sustainability and green technology. This is achieved by recycling waste, water purification, minimization of pollution in water bodies and atmosphere, and preservation of the natural environment and resources. For example, the Australian government allocated a $740 Million Investment Fund in 2023 to foster the growth of green and low-emission technologies, according to Strom4, a UK GreenTech recruitment agency. This initiative also aimed to catalyze investment from the private sector, aligning with public contributions. The ultimate objective was to establish Australia at the forefront of scalable green technologies.
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Which Fast-Growing Trends Are Poised to Disrupt the Environmental Technology Market?
Key players in the environmental technology market are increasingly focusing on strategic partnerships as a tactic to revolutionize the industry. This refers to a scenario where companies are exploiting each other's expertise and resources to generate mutual gains and ensure success. As an example, Battero Tech Co. Ltd., a Chinese firm specializing in the creation of advanced battery technologies, formed a strategic partnership with Kale Environmental Technology, a China-based firm dedicated to the development of renewable energy solutions, in October 2023. The partnership is expected to stimulate innovation in the energy storage industry and provide sustainable energy solutions.
What Are the Emerging Segments in the Environmental Technology Market?
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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Who Are the Global Leaders 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.
Which are the Top Profitable Regional Markets for the Environmental Technology Industry?
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
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