- Pollutants such as greenhouse gases, toxic chemicals, particulate matter, oil spills, radioactive contaminants, plastic waste, and other types of trash, are released into the soil, air, and water (including groundwater) as a result of activities such as mining, drilling, deforestation, chemical processing, agriculture (using pesticides and fertilizers), and manufacturing. The removal of pollutants or contaminants from environmental media such as soil, groundwater, sediment, or surface water is referred to as environmental remediation. Environmental remediation is performed to reclaim polluted areas when there is a risk of environmental harm or human health. The environmental remediation market is expected to witness significant growth during the forecast period.
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Key Drivers and Opportunities of the Global Environmental Remediation Market
- Increasing government initiatives for environmental protection around the world, particularly in developed countries, growing focus on the development of environment friendly industries, and rapid industrialization and urbanization in developing countries, are all expected to fuel demand for environmental remediation during the forecast period. Furthermore, in the midst of COVID-19, the development of innovative remediation technologies, as well as the continued expansion of the oil and gas industry, creates a significant need for environmental remediation for efficient industrial operations.
- Some of the important drivers of soil remediation are high demand for land, stricter regulatory policies, and corporate responsibilities, among others. Contaminants or pollutants found in groundwater cover a broad range of physical, organic chemical, inorganic chemical, bacteriological, and radioactive parameters and have resulted in increase in groundwater remediation. The above factors are expected to drive the environmental remediation market during the forecast period.
- However, adoption of environmental protection regulations are time consuming and require heavy investments and incur huge costs. These factors are expected to hamper the environmental remediation market during the forecast period.
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Asia Pacific and North America to Hold Major Share of the Global Environmental Remediation Market
- In terms of region, the environmental remediation market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- Asia Pacific is expected to hold major share in the environmental remediation market during the forecast period. Increasing industrialization and urbanization, rise in consumption of oil and gas, growing population, and the adoption of government regulations for environment protection in developed and developing countries are expected to drive the environmental remediation market in the region during the forecast period.
- On the other hand, the environmental remediation market in North America is also projected to expand at a considerable rate due to increased government attempts to limit pollution and boost the use of environmental solutions and services in the region.
Key Players Operating in the Global Environmental Remediation Market
- Clean Harbors, Inc.
- Dredging, Environmental and Marine Engineering NV
- Engineering and Maintenance Solutions Pty. Ltd.
- Entact, LLC
- Golder Associates Inc.
- HDR, Inc.
- Jacobs Engineering Group Inc.
- Newterra Ltd.
- Terra Systems, Inc.
- Weber Ambiental
