Environmental remediation market to grow from 2016 to 2022: report
By Colleen Cross
New York – The environmental remediation market is expected to reach $123.13 billion US by 2022 at a CAGR of 7.62 per cent between 2016 and 2022, according to an analysis by Reportlinker.
The major reason for the growth of the environmental remediation technology is the increasing demand for environmental protection, growing pollution, stringent government regulations, and demand from various applications such as oil and gas, mining and forestry, automotive, Reportlinker said in a news release.
The use of the environmental remediation technology for eliminating contaminants from soil and ground water environmental mediums has increased the scope of the environmental remediation market for different applications. However, the slow implementation of environmental protection regulations due to the lack of awareness of various environmental technologies is a major restraint for the market, the report suggests.
The demand for environmental remediation technology has increased owing to its various functionalities and use in oil and gas and mining and forestry applications for removing toxins or pollutants from the environment. For this, various technologies such as bioremediation, soil vapour extraction, and pump-and-treat, are widely used to provide remediation services for contaminated ground water and soil. The refined oil can be resold to generate more revenue from waste resources. These factors are likely to propel the growth of the environmental remediation market in the oil and gas application.
This report provides an analysis of environmental remediation technologies and their requirement across different applications and regions. It covers the environmental remediation market in North America, Europe, Asia-Pacific, and Rest of the World (RoW).
The market in Asia-Pacific is expected to grow at the highest CAGR between 2016 and 2022 due in part to the large number of government initiatives for environmental pollution control and adoption of eco-friendly industries.
Key players in the environmental remediation market profiled in this report are Clean Harbors, Inc. (U.S.), Golder Associates Corporation (Canada), Brisea Group, Inc. (U.S.), Entact LLC (U.S.), Dredging, Environmental and Marine Engineering NV (Belgium), Terra Systems, Inc. (U.S.), Environmental Remediation Resources Pty Ltd. (Australia), GEO Inc. (U.S.), Newterra Ltd. (Canada), and Weber Ambiental (Mexico).
For access to the report in full, visit www.reportlinker.com.