The environmental technology market was valued at $0.7 trillion in 2022 and is estimated to reach $1,204.40 billion by 2032, exhibiting a CAGR of 5.1% from 2023 to 2032.
Environmental Technology is the application of one or more of environmental science, green chemistry, environmental monitoring and electronic devices to monitor, model and conserve the natural environment and resource. Environmental technology includes the application of environmental sciences for the development of new technologies to monitor, conserve, or reduce environmental impacts. These technologies help prevent or mitigate pollution, manage or reduce waste streams, remediate contaminated sites, design, develop & operate environmental infrastructure and deliver environmental resources.
Technological advancements are a key trend that gains popularity in the environmental technology industry. For instance, Carbon Clean supplies cost-effective industrial carbon capture solutions for essential hard-to-abate industries like energy. A radical shift in industrial carbon capture, driven by a new generation of standardized, fully modular, compact carbon capture units that will be prefabricated and mass produced - overcoming the cost and space concerns that have been barriers to deployment.
Carbon Clean fully modular technology, CycloneCC, can reduce the cost of carbon capture by up to 50% and has a 50% smaller footprint compared to traditional carbon capture units. The Inflation Reduction Act (IRA) is driving enormous demand for industrial carbon capture and has already resulted in a dramatic spike in U.S. enquiries for Carbon Clean - up by over 64% since the passage of the IRA in August 2022.
The environmental technology market scope is segmented into component, application, consumer/vertical and region. On the basis of component, it is bifurcated into solutions and services. On the basis of application, the market is classified into water purification management, wastewater treatment, solid waste management, environmental monitoring and others. On the basis of consumer/vertical, the market is divided into residential, industrial and municipal. Region wise, the environment technology market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Asia-Pacific is the fastest growing region in the global environmental technology market forecast. The region accounts for the largest environment technology market share, primarily due to the concentration of many global industries. Some of the largest industrializing countries, such as India, China, and Vietnam, and industrialized countries, such as South Korea and Japan, are located in the region. The haphazard industrialization in Asia-Pacific countries has led to various problems such as groundwater pollution, poor urban air quality, and untreated discharge of sewage into water bodies. It has led to massive environmental degradation, particularly in Indonesia, India, and China. The adoption of environmental technologies grows in the Asia-Pacific region to address these acute environmental problems. Asia-Pacific is expected to retain the largest share of the global environmental technology market in the upcoming years. The major companies profiled in this report include AECOM, Clean Harbors Inc., Covanta Holding Corporation, Ecolab Inc., Engie Impact, IDEX Corporation, Suez, Veolia, Waste Management and Xylem.
Environmental Technology is the application of one or more of environmental science, green chemistry, environmental monitoring and electronic devices to monitor, model and conserve the natural environment and resource. Environmental technology includes the application of environmental sciences for the development of new technologies to monitor, conserve, or reduce environmental impacts. These technologies help prevent or mitigate pollution, manage or reduce waste streams, remediate contaminated sites, design, develop & operate environmental infrastructure and deliver environmental resources.
Technological advancements are a key trend that gains popularity in the environmental technology industry. For instance, Carbon Clean supplies cost-effective industrial carbon capture solutions for essential hard-to-abate industries like energy. A radical shift in industrial carbon capture, driven by a new generation of standardized, fully modular, compact carbon capture units that will be prefabricated and mass produced - overcoming the cost and space concerns that have been barriers to deployment.
Carbon Clean fully modular technology, CycloneCC, can reduce the cost of carbon capture by up to 50% and has a 50% smaller footprint compared to traditional carbon capture units. The Inflation Reduction Act (IRA) is driving enormous demand for industrial carbon capture and has already resulted in a dramatic spike in U.S. enquiries for Carbon Clean - up by over 64% since the passage of the IRA in August 2022.
The environmental technology market scope is segmented into component, application, consumer/vertical and region. On the basis of component, it is bifurcated into solutions and services. On the basis of application, the market is classified into water purification management, wastewater treatment, solid waste management, environmental monitoring and others. On the basis of consumer/vertical, the market is divided into residential, industrial and municipal. Region wise, the environment technology market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Asia-Pacific is the fastest growing region in the global environmental technology market forecast. The region accounts for the largest environment technology market share, primarily due to the concentration of many global industries. Some of the largest industrializing countries, such as India, China, and Vietnam, and industrialized countries, such as South Korea and Japan, are located in the region. The haphazard industrialization in Asia-Pacific countries has led to various problems such as groundwater pollution, poor urban air quality, and untreated discharge of sewage into water bodies. It has led to massive environmental degradation, particularly in Indonesia, India, and China. The adoption of environmental technologies grows in the Asia-Pacific region to address these acute environmental problems. Asia-Pacific is expected to retain the largest share of the global environmental technology market in the upcoming years. The major companies profiled in this report include AECOM, Clean Harbors Inc., Covanta Holding Corporation, Ecolab Inc., Engie Impact, IDEX Corporation, Suez, Veolia, Waste Management and Xylem.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the environmental technology market analysis from 2022 to 2032 to identify the prevailing environmental technology market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the environmental technology market size segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global environment technology market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global environmental technology market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Component
- Services
- Solutions
- Technological Solutions
- Waste Valorization
- Greentech
- Bioremediation
- CCUS
- Others
By Application
- Wastewater Treatment
- Water Purification Management
- Environmental Monitoring
- Solid Waste Management
- Others
By Consumer
- Residential
- Municipal
- Industrial
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- Spain
- UK
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
- Key Market Players
- AECOM
- Ecolab Inc.
- Engie Impact
- Clean Harbors Inc.
- Covanta Holding Corporation
- Xylem
- Suez
- IDEX Corporation
- Veolia
- Waste Management
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: ENVIRONMENTAL TECHNOLOGY MARKET, BY COMPONENT
CHAPTER 5: ENVIRONMENTAL TECHNOLOGY MARKET, BY APPLICATION
CHAPTER 6: ENVIRONMENTAL TECHNOLOGY MARKET, BY CONSUMER
CHAPTER 7: ENVIRONMENTAL TECHNOLOGY MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, the environmental technology market was valued at $0.7 trillion in 2022, and is estimated to reach $1.2 trillion by 2032, growing at a CAGR of 5.1% from 2023 to 2032.A significant part of environmental technology is environmental monitoring, which is the processes and activities performed in order to monitor the quality of the environment. Environmental monitoring has emerged as an essential component of governmental and private organization policies across the globe. The industrial revolution, large-scale mineral and oil exploration has been increased, which causes natural oil and mineral depletion. Due to advancements in technology, the exploitation. A combination of factors and global initiatives aimed at mitigating climate change drive environment technology market growth. The growing emphasis on environmental responsibility and sustainability is one of the primary drivers. Governments and international agreements have set ambitious goals to limit global warming, encouraging industries to adopt sustainable methodologies and invest in carbon offset projects.
Recently several environmental technology government incentives encourage plug-in vehicles, tax credits and subsidies to promote the introduction and adoption of electric vehicles. Electric vehicles could potentially be the way for a greener society because companies such as Bloomberg have predicted electric vehicle become cheaper than petrol cars by 2024 and according to Nissan, there are now in fact more electric vehicle charging stations in the UK than fuel stations. The primary objective of environmental technologies is to safeguard the environment.
The global demand for environmental technology solutions is being driven by the growing emphasis on environmental sustainability, strict rules on pollution management, and the need to combat climate change. Environmental technologies encompass a broad range of issues, such as renewable energy, waste management, water treatment, air pollution control, and other concerns that are crucial for alleviating environmental problems. In the upcoming years, the market is anticipated to rise due to developments in technology, government initiatives, and growing industry and consumer awareness of the value of sustainable practices. Investments in environmental technology solutions are projected to rise as organizations and governments work to meet sustainable development objectives, bolster the expansion of the industry during the environment technology market forecast period.
The economic viability of certain environmental technologies, such as carbon capture and storage, can be uncertain without financial incentives or carbon pricing mechanisms. Moreover, market can be fragmented, with various technologies and solutions competing for attention and funding, leading to inefficiencies and slow adoption. Despite these challenges, ongoing innovation, investment, supportive policies, and increased public awareness can help overcome obstacles to the growth of environmental technology. As societies and businesses increasingly prioritize sustainability, addressing these challenges becomes essential for a greener and more environmentally friendly future.
The environmental technology market scope is segmented into component, application, consumer/vertical and region. On the basis of component, it is bifurcated into solutions and services. On the basis of application, the market is classified into water purification management, wastewater treatment, solid waste management, environmental monitoring and others. On the basis of consumer/vertical, the market is divided into residential, industrial and municipal. Region wise, the environment technology market analysis is studied across North America, Europe, Asia-Pacific, and LAMEA.
Based on region, Europe held the highest market share in terms of revenue in 2022, accounting for more than one-third of the global environmental technology market revenue, and is likely to dominate the market during the forecast period. Furthermore, the Asia-Pacific region is expected to witness the fastest CAGR of 6.3% from 2023 to 2032. The Asia-Pacific region presents significant growth potential in environmental technology. Emerging markets, such as India, China, and Southeast Asian countries, have witnessed rapid industrial growth which will lead to increased demand for environmental technology.
Key players that operate in the global environmental technology market are Clean Harbors Inc., Ecolab Inc., Covanta Holding Corporation, Xylem, IDEX Corporation, Waste Management, Veolia, Suez, AECOM and Engie Impact. Additional growth strategies such as new product developments, acquisition, and business expansion strategies, are also adopted to attain key developments in the environment technology market trends.
Impact analysis:
The economic crises breed uncertainty and market instability, fostering heightened price volatility and fluctuations in demand. Economic recessions also prompt market consolidation, while governmental interventions aimed at stimulating growth can lead to alterations in environmental policies and regulations, directly impacting the market. Overall, the effects of an economic crisis on the environmental technology market industry are complex and multifaceted. While funding constraints and reduced demand can pose challenges, stimulus measures, innovation will provide environment technology market opportunities for the development, and a heightened focus on sustainability can create a more favorable environment for the growth of environmental technologies. The extent of these effects will depend on the severity of the crisis, government responses, and broader economic environment technology market trends.Key findings of the study
On the basis of component, the services segment accounts for nearly three-fourths of the environment technology market share, in terms of revenue, in 2022.On the basis of application, the solid waste management segments accounts more than one-third of the environment technology market size, in terms of revenue, in 2022.
On the basis of consumer, the industrial segment accounts for more than two-fifths of the market share, in terms of revenue, in 2022.
Region-wise, Europe accounts for more than one-third of the market share, in terms of revenue, in 2022.
Companies Mentioned
- AECOM
- Ecolab Inc.
- Engie Impact
- Clean Harbors Inc.
- Covanta Holding Corporation
- Xylem
- Suez
- IDEX Corporation
- Veolia
- Waste Management
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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