Overview and Scope
Environmental remediation is the removal of pollutants or contaminants from groundwater, surface water, and soil. These waste materials are removed to protect human health and restore the ecosystem. Remediation restores brownfield sites for redevelopment or restores them to their natural state.
Sizing and Forecast
The environmental remediation market size has grown strongly in recent years. It will grow from $108.27 billion in 2023 to $116.56 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to industrial activities impact, government regulations, awareness and public pressure, brownfield redevelopment, mining and resource extraction.
The environmental remediation market size is expected to see strong growth in the next few years. It will grow to $156.27 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to climate change adaptation, urbanization challenges, green building practices, ecosystem restoration, renewable energy development, phytoremediation research.. Major trends in the forecast period include advancements in water remediation technologies, integration of sustainable and green technologies, public-private partnerships in remediation projects, remote sensing and monitoring technologies, artificial intelligence (ai) in data analysis..
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Segmentation & Regional Insights
The environmental remediation market covered in this report is segmented –
1) By Environment Medium: Soil, Groundwater
2) By Site Type: Private, Public
3) By Technology: Air Sparging, Soil Washing, Chemical Treatment, Bio Remediation, Electrokinetic Remediation, Excavation, Permeable Reactive Barriers, In-situ Grouting, Phytoremediation, Pump and Treat,
4) By Application: Mining and Forestry, Automotive, Oil and Gas, Agriculture, Manufacturing, Industrial, and Chemical Processing, Other Applications
Asia-Pacific was the largest region in the environmental remediation market in 2023. Asia-Pacific is expected to be the fastest-growing region in the environmental remediation market during the forecast period. The regions covered in the environmental remediation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The rapid growth of industrialization is expected to propel the growth of the environmental remediation market going forward. Industrialization is the process of shifting a country’s or region’s economy away from agriculture and towards manufacturing. Increasing industrialization eventually produces several environmental concerns as more gaseous pollutants are emitted into the atmosphere and large volumes of municipal sewage sludge are produced. The rise of industrial effluent discharge has also favored the demand for environmental remediation. For instance, according to a statistical report published in August 2022 by Eurostat, a Luxembourg-based publisher of statistics for the European Union, in 2021, the EU’s industrial production increased by 8% over the previous year, 2020. Furthermore, in 2021, the value of sales for industrial production in the European Union was $5429.08 billion (€5 209 billion), up by nearly 14% from $477.45 billion (€4 581 billion) in 2020. Therefore, the rapid growth in industrialization will drive demand for the environmental remediation market.
Key Industry Players
Major companies operating in the market are focused on innovating remediation solutions, such as bioremediation solutions, to expand their customer base and achieve sustainability goals. A bioremediation solution is a specialized and environmentally friendly approach to treating and mitigating pollution, particularly in the context of contaminated soil or water. For instance, in May 2023, Allonnia, a US-based biotechnology company specializing in bioremediation solutions, launched and unveiled a groundbreaking bioremediation solution, Allonnia 1,4 D-Stroy, designed to effectively degrade 99% of 1,4-dioxane present in contaminated groundwater. Leveraging specialized microbes, this innovative and cost-effective solution offers a low-maintenance approach, transforming 1,4-dioxane into water and carbon dioxide. Allonnia’s discovery of a naturally occurring microbe optimized for versatile deployment in various environments has proven highly effective in field tests, showcasing a remarkable 99% degradation of 1,4-dioxane in contaminated groundwater. This solution requires no initial capital investment and is deployed on-site through a portable, 18-liter stainless steel dispersion vessel. The returnable system precisely doses the microbes into the contaminated water, where they interact with 1,4-dioxane, consuming it and rendering it harmless. Initial pilot programs conducted in Orange County, California, in collaboration with engineering firm Stantec demonstrated a significant achievement, eliminating over 90% of 1,4-dioxane from two contaminated wells within 11 weeks.
The environmental remediation market report table of contents includes:
1. Executive Summary
2. Environmental Remediation Market Characteristics
3. Environmental Remediation Market Trends And Strategies
4. Environmental Remediation Market – Macro Economic Scenario
5. Global Environmental Remediation Market Size and Growth
….
31. Global Environmental Remediation Market Competitive Benchmarking
32. Global Environmental Remediation Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Environmental Remediation Market
34. Environmental Remediation Market Future Outlook and Potential Analysis
35. Appendix
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