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
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)
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)
Environmental Remediation, Regional Outlook (Revenue - USD Billion, 2018 - 2030)