The environmental technology market is estimated at USD 552.1 billion in 2021 and is projected to reach USD 690.3 billion by 2026, at a CAGR of 4.6% from 2021 to 2026, owing to an increase in demand from different verticals and stringent government regulations. The services segment is expected to register the highest CAGR of 5.1% from 2021 to 2026. The services segment is expected to grow at a higher rate during the forecast period due to the high demand for resource recovery services and the growing scarcity of natural resources.
The key market players in the environmental technology market are Veolia (France), AECOM (US), Lennox International (US), Teledyne Technologies Incorporated (US), Thermo Fisher Scientific Inc. (US), Abatement Technologies (US), Waste Connections (US), Total SA (France), Covanta Holding Corporation (US), SUEZ (US), Biffa (England), Hitachi Zosen Corporation (Japan), Carbon Clean (UK), Cypher Environmental (Canada), Svante Inc. (Canada), CarbonCure Technologies Inc. (Nova Scotia), Sunfire GmbH (Germany), BacTech Inc. (Canada), TRC Companies, Inc. (US), and Arcadis N.V. (Netherlands). These players have adopted expansions, joint ventures, mergers, acquisitions, agreements, collaborations, product launches, and partnerships as their growth strategies to meet the growing demand for environmental technology.
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Veolia is a global provider of environmental management services. It is engaged in the management of waste, water supply, and distribution systems. Veolia is among the key global players in the management of solid, liquid, non-hazardous, and hazardous waste. In April 2021, Veolia and SUEZ announced that they have reached an agreement enabling the merger of the two groups. Its scope is expected to be the municipal water and solid waste activities of SUEZ in France, as well as the activities of SUEZ in particular in water in the following geographies: Italy, the Czech Republic, Africa (including Lydec), Central Asia, India, China, Australia, and the global digital and environmental activities (SES).
Another important player in the global environmental technology market is Carbon Clean. In October 2020, Carbon Clean entered into an agreement with LafargeHolcim, the world’s global leader in building solutions - ECCO2 and Sistemas de Calor in Spain. This project is aimed at capturing CO2 emitted through the cement production process.
Environmental Technology Market by Component (Solutions, Services), Technological Solutions (Waste Valorization, Greentech, Nuclear Energy, Bioremediation), Application, Vertical (Municipal, Industrial), and Region - Global Forecast to 2026
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