Newark, April 22, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 112.3 billion environmental remediation technologies market will reach USD 268.3 billion by 2033. The growth of environmentally friendly industries and the escalating government requirements about health and safety are the main causes of the growing usage of environmental remediation technology across different sectors. Remedial technology is also in demand due to the growing world population and their need for clean, healthy air and water. Moreover, expanding initiatives in developing countries' manufacturing and industrial sectors will probably support market expansion. Growing problems with water and soil contamination in developing countries propel the global environmental remediation technology market. Environmental trash is rising due to several enterprises emitting harmful gases, managing and disposing garbage, and producing chemical waste from different industrial processes. The market is growing due to increased funding for pollution management, government rules and enforcement that hinder remediation services, and increased awareness of environmental issues across all industries.
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Report Coverage Details
| Report Coverage | Details |
| Forecast Period | 2024–2033 |
| Base Year | 2023 |
| Market Size in 2023 | USD 112.3 Billion |
| Market Size in 2033 | USD 268.3 Billion |
| CAGR | 9.1% |
| No. of Pages in Report | 237 |
| Segments Covered | Environment Medium, Site, Application |
| Drivers | Rising environmental legislation for environmental protection |
| Opportunities | Advanced remediation technologies |
Key Insighs on Environmental Remediation Technologies Market
Asia Pacific to account for the largest market size during the forecast period.
The largest market for environmental remediation technology is Asia Pacific, which is predicted to develop quicker throughout the forecast period due to the region's increasing industrialization and population growth, which has exacerbated air and water pollution. The growing demand for mining and forestry is also supporting segment expansion.
The groundwater segment dominated the market with the most significant revenue of USD 64.0 billion.
The groundwater segment dominated the market with the most significant revenue of USD 64.0 billion. The increasing use of fertilisers, leaking landfills, and industrial spills contaminating groundwater have all contributed to the demand for groundwater cleanup. Additionally, hazardous elements, including arsenic, lead, and zinc, are introduced into groundwater by organic waste generated during wastewater treatment and toxic chemicals from storage tanks.
The public site segment dominated the market with the most significant revenue of USD 60.6 billion.
The public site segment dominated the market with the most significant revenue of USD 60.6 billion. The control treatment's confidence explains this since it can evenly screen, homogenise, and combine the soil. This element increases the need for waste to be disposed of at public locations, opening up profitable potential for the global market for environmental remediation technology.
The oil and gas segment dominated the market with the most significant revenue of USD 25.8 billion.
The oil and gas segment dominated the market with the most significant revenue of USD 25.8 billion. The oil and gas industries use the chemical treatment method involving hydraulic fracturing to treat toxic compounds produced during cleanup. Government rules emphasising the use of remediation technologies in many industries due to their influence on human health and the environment further encourage the growth of this market.
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Market Dynamics:
Drivers: Rising environmental legislation for environmental protection
The market for environmental remediation technology is expected to expand rapidly due to rising pollution levels and environmental rules for protection. Government rules imposed on mining and oil and gas firms drive growth in the environmental remediation technology industry. Growing groundwater and soil safety requirements have led to many previously unidentified locations being classified as toxic, increasing profits for environmental remediation firms. To generate additional cash on the global market, marketing recovered commodities is a part of environmental cleanup activities involving oil or refined oil spills.
Restraint: Expensive excavating equipment
Excavation could be the most expensive solution when a lot of soil needs to be removed or disposed of as toxic or hazardous trash. Heavy equipment such as excavators, bulldozers, loading trucks, and other treatment systems is costly during excavation and treatment operations. It is very expensive to set up a cleaning machine for soil remediation. Furthermore, the plant requires a lot of upkeep. These difficulties prevent environmental remediation technology from being applied globally.
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Some of the major players operating in the environmental remediation technologies market are:
● BRISEA Group
● Cold Chain Technologies, LLC
● Dredging
● Engineering And Maintenance Solutions
● Envirotainer AB
● Golder Associates Corporation
● Inmark LLC
● Newterra Ltd
● Sofrigam SA
● Sonoco Products Company
● Weber Ambiental
● AECOM Technology
● Clean Harbors, Inc.
● Cryopak Industries Inc
● DGP Intelsius GmbH
● Environmental And Marine Engineering NV
Key Segments cover in the market:
By Environment Medium:
● Groundwater
● Soil
By Site:
● Public
● Private
By Application:
● Oil & Gas
● Automotive
● Manufacturing, Industrial and Chemical Production
● Mining and Forestry
● Agriculture
● Landfills and Waste Disposal Site
● Construction and Land Development
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About the report:
The global environmental remediation technologies market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirements whether they are looking to expand or planning to launch a new product in the global market.
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