The overall environmental remediation market is expected to grow from USD 104.6 billion in 2021 to USD 158.8 billion by 2026; it is expected to grow at a CAGR of 8.7% during 2021–2026. Key factors fueling this markets growth include increasing government initiatives for environmental protection; growing focus on development of environment-friendly industries; and rapid population growth and industrialization in developing countries. Development of advanced remediation technologies and continuous expansion of oil & gas industry create a strong demand for environmental remediation for efficient industrial operations in the midst of COVID-19.
Key players in the environmental remediation market comprise companies operating at different stages of the value chain. These include Clean Harbors, Inc. (US), AECOM Technology (US), DEME NV (Belgium), Golder Associates Corporation (Canada), Jacobs Engineering Group (US), Brisea Group (US), ENTACT, LLC (US), Terra Systems (US), Engineering and Maintenance Solutions (EMS) (Australia), and HDR, Inc. (US). Many of these companies focus on adopting both organic and inorganic growth strategies, such as contracts, joint ventures, product launches and developments, partnerships, expansions, acquisitions, and collaborations to strengthen their position in the market.
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Top 2 players in environmental remediation market:
AECOM Technology (US) has expertise in developing innovative remedial solutions to clean contamination and reduce lifecycle project costs. The company focuses on contracts, joint ventures, and agreements as its key growth strategies. It also invests in proprietary innovations and solutions to combat globally pervasive emerging contaminants. In March 2021, AECOM introduced its first large-scale field demonstration of DE-FLUORO, a world-first economically and environmentally sustainable treatment technology that eliminates Per- and Polyfluoroalkyl Substances (PFAS) chemicals from contaminated liquids without generating hazardous waste.
Clean Harbors, Inc. (US) is one of the leading players in the global environmental remediation market. The company’s environmental services segment offers technical services; industrial and field services; and oil, gas and lodging services. Clean Harbors delivers a broad range of services, such as end-to-end hazardous waste management, emergency spill response, industrial cleaning and maintenance, and recycling services, to its clients in the North American region.
Environmental Remediation Market with COVID-19 Impact Analysis by environmental medium(soil & groundwater), Technology (Bioremediation, Pump & Treat, Soil Vapor Extraction, Chemical Treatment), Site Type, Application, and Region - Global Forecast to 2026
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