The global environmental remediation market size is expected to reach USD 206.5 billion by 2030, according to a new study by Polaris Market Research. The report “Environmental Remediation Market Share, Size, Trends, Industry Analysis Report, By Technology; By Environment Medium (Soil and Groundwater); By Site (Private and Public); By Application; By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides an analysis of future market growth.
The increasing demand for environmental remediation across developed and developing nations is due to rapid industrialization, urbanization, and increasing government initiatives to limit pollution is drives the market growth. Furthermore, the rising consumption of oil & gas and the development of innovative remediation technologies to protect the environment are also supporting the market growth.
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Environmental remediation involves the removal of contaminants from soil, water, and sediments, which reduces the risk of environmental damage and health issue caused to humans. The pollution caused due to activities from the industrial, mining, and commercial sector leads to ecological damage. Growing government attempts for land restoration and implementation of remediation in the end-use industries are propelling market growth.
Technological advancement to identify various contaminants in the air, water and land is projected to amplify the market. Nano-remediation is the current trend across multiple industries to deal with environmental concerns. These techniques use nanoparticles to detect a wide range of environmental contaminants used to treat water, soil, and sediments; such factors complement the market growth.
The COVID-19 pandemic negatively impacted the demand for ecological remediation solutions as many industries stood at a standstill due to the global lockdown, resulting in less adoption of remediation technology. Moreover, the transportation of bulk handling equipment required for the transfer and disposal of waste was temporarily halted during the lockdown, which severely hampered the market.
Environmental Remediation Market Report Highlights
- The growing demand for bioremediation technology is due to minimizing environmental damage and emission of less harmful byproducts during treatment. In addition, this technology doesn’t require expensive equipment and labor like other cleanup methodologies. Such factors complement the segment’s growth.
- The groundwater segment accounted for the highest revenue share in 2021 and is expected to continue its dominance owing to rising contamination in groundwater, such as pesticides, fertilizers, and various hazardous metals. Rising groundwater remediation with novel technologies to reduce and manage the waste.
- Oil & gas is expected to spearhead revenue growth; these industries consist of waste at every point of oil and gas production, such as wastewater, solid waste, and gas emission, increasing remediation demand in this sector.
- North America is expected to grow prominently over the forecast period owing to the rapid adoption and implementation of remediation technology and government funding to emphasize eco-friendly remediation. Moreover, the U.S., with a well-established economy, contributes to segment growth.
- Major players operating in the industry include AECOM Technology, Brisea Group, Clean Harbors, Inc., Cold Chain Technologies, LLC, Cryopak Industries Inc, DEME NV, DGP Intelsius GmbH, Dredging, Environmental and Marine Engineering NV, Engineering and Maintenance Solutions, ENTACT LLC, Envirotainer AB, GEO Inc.
Polaris Market Research has segmented the environmental remediation market report based on technology, environment medium, site, application, and region:
Environmental Remediation, Technology Outlook (Revenue – USD Billion, 2018 – 2030)
- Air Sparging
- Soil Washing
- Chemical Treatment
- Electrokinetic Remediation
- Permeable Reactive Barriers
- In-Situ Grouting
- Pump And Treat
- Soil Vapor Extraction
- In-Situ Vitrification
- Thermal Treatment
Environmental Remediation, Environment Medium Outlook (Revenue – USD Billion, 2018 – 2030)
Environmental Remediation, Site Outlook (Revenue – USD Billion, 2018 – 2030)
Environmental Remediation, Application Outlook (Revenue – USD Billion, 2018 – 2030)
- Mining and Forestry
- Oil & Gas
- Landfills and Waste Disposal Site
- Manufacturing, Industrial, and Chemical Production
- Construction and Land Development
Environmental Remediation, Regional Outlook (Revenue – USD Billion, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa