The global market for environmental remediation technologies reached $65.2 billion in 2016. This market is estimated to reach nearly $82.7 billion in 2022 from $67.8 billion in 2017 at a compound annual growth rate (CAGR) of 4.0% for 2017-2022.
-An overview of the global markets for environmental remediation technologies.
-Analyses of global market trends, with data from 2016, estimates for 2017 and projections of compound annual growth rates (CAGRs) through 2022
-A detailed discussion of technological categories in their current state, as well as future developments
-Applications for these categories, including soil remediation, groundwater remediation, and surface water remediation
-Insight into the regulatory framework in which the industry must operate
-Evaluation of key and relevant patents
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Various estimates place the global cost of potential liabilities for owners of environmentally contaminated sites in the trillions of dollars. These potential liabilities have arisen because of contamination of the world’s soil and water with chemicals, metals and other compounds with effects that can range from an offensive odor to a carcinogenic or lethal outcome. Much of the contamination encountered is historical contamination, originating years or even decades in the past, many times with the original source or cause of contamination unknown or not fully known. Other contamination may continue to arise as a result of current activities with consequences that are not yet fully understood or, occasionally, as a consequence of irresponsible actions.
Study Goals and Objectives
This study seeks to provide a broad perspective and understanding of the most important aspects of the global remediation technology market. Readers will gain a better understanding of the makeup of the global industry in terms of key factors driving and inhibiting market growth; regulatory schema; technological categories and trends in new technological development; patents; and various market dynamics—and how these all interact with one another. By providing this deep understanding of the market, the report aims to equip its Intended Audience with the requisite knowledge to better formulate public policy, business and competitive strategy, and/or research and developmental project goals. For private industry, established firms should gain a better understanding of where they may best maximize their current positions, while new firms seeking to enter the market should be able to better identify the points of entry that may afford them the greatest likelihood of success.
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Scope of Report
This report examines the global markets for technologies used in the remediation of environmental contamination. In the scope of this report, natural resources affected by environmental contamination include surface water, groundwater and soils (to include soil vapours). Markets are examined in greater detail in later sections of the report that discuss markets from a regional perspective and from the perspective of remediation technologies’ applications to sites associated with certain industries.
Any services or equipment that do not directly support the furtherance of a site remediation project or those that require only general knowledge such that most companies in the economy could provide them equally well have not been included in the market estimations. Direct equipment, materials, reagents, and sales and rentals of remediation technologies have been included as well as the professional services required to assess a contaminated site; to develop a remediation plan for the specific site; and to implement, install or continuously operate the remediation equipment over a defined space and time. Included in total dollar figures for market estimates are direct costs for design, fabrication and assembly of remediation equipment; costs for materials and chemicals such as surfactants and cosolvents that are used in many remediation methods (electro kinetic remediation, for example); and costs for on-site professional services in assessment and remediation project design and ongoing monitoring of remediation projects.
Many of the technologies applied to remediation of contaminated sites are in fact technological systems or processes (many of which hold patents in various jurisdictions) rather than a single piece of equipment. As such, when considering technological processes, the entire value of the process has been considered. It is also important to note that a large number of remediation technologies use a significant portion of standard equipment such as off-the-shelf pumps or heavy construction equipment (for excavation) that are then built into an overall system, package or process specifically for site remediation that customers can apply to their project’s specific needs.
A complicating factor in estimating the breakdown of market segments for environmental remediation technologies stems from the nature of the various liability laws in jurisdictions around the world. One fairly common practice in environmental remediation is for a governmental body to undertake and see to the complete remediation of a key contaminated site, and, while remediation is underway or once it has been completed, this governmental body will seek payment for the costs of remediation from the responsible party (if this party is still in existence—many times they are not). In instances where such a process has been used successfully, the value of the remediation equipment, services, materials and so forth are applied to that specific industry application.
Information Sources and Methodology
To quantify the total market size and annual growth rates for environmental remediation technologies, a combination of both top-down and bottom-up approaches were used, and primary and secondary Information Sources were utilized. Aggregated data were reviewed from trade organizations, professional societies, research institutions and governmental bodies from many different nations. Analysis of publicly available budgetary, expenditure and contract documents from various national and regional governmental bodies in the U.S. and in other jurisdictions was completed.
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