DUBLIN--(BUSINESS WIRE)--The "Environmental Consulting Services Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Service Type, Media Type, and Vertical" report has been added to ResearchAndMarkets.com's offering.
The environmental consulting services market is expected to grow from US$ 34,365.5 million in 2020 to US$ 50,974.7 million by 2028; it is estimated to grow at a CAGR of 5.4% from 2021 to 2028.
The environmental consultancies comprise various disciplines such as contaminated land, energy, geotechnical, environment management systems, green claims, compliance, impact assessment, flood risk, asbestos management, radon, and carbon. Furthermore, owing to surging global population and increasing demand for single-family homes, the residential construction sector has started gaining momentum in recent years after weak growth in the past years. Thus, the growth in residential construction surges the need for an efficient water management system, which boosts the demand for environmental consulting services. The residential sewage accounts for a major share of a total sewage volume of a city/area. Due to the constant growth of the population, the countries in Asia and the Middle East have witnessed a surge in the number of residential construction projects in recent years, which, in turn, has created a significant demand for the proper water and waste management system.
Based on service type, the permitting & compliance segment is growing with the highest CAGR in the global environmental consulting services market in 2020. With augmenting concerns regarding environmental conservation, governments and corporates worldwide are actively exploring sustainable solutions for their operations, to reduce their environmental footprint. As large enterprises have the supply chain spread across various multiple regions, they need to comply with various regulatory laws existing in different regions. Governments are offering various benefits in form subsidies and tax benefits for business investing in suitable solutions. Thus, businesses approach environmental consulting firms to maximize returns on their investments by assessing investments and carrying out audits. By media type, the market is segmented into water management, waste management, and others.
Similarly, based on vertical, the market is segmented into energy & utilities, chemicals & petroleum industries, manufacturing and process industries, transportation and construction sectors, and others. In terms of geography, in 2020, the global environmental consulting services market the fastest growing market resides in APAC. Asia Pacific has a growing economy, which is leading to the growth of wide variety of sectors, such as infrastructure, manufacturing, and technology. Almost 60% of the world's population lives in Asia Pacific, China and India being most populated countries. More than 2 billion people live in the urban areas, which increases the demand for several new constructions. Also, many of the cities in the region are technology hub, which increases the number of companies expanding to the region, which leads to the construction of new commercial buildings and reconstruction of older buildings into larger spaces. All these factors are driving the growth of the environmental consulting services market.
The COVID-19 outbreak has severely impacted the manufacturing, energy & utilities, chemical & petroleum, and transportation & construction industries. Amid the emergence of outbreak pandemic across the world, owing to the lockdown scenarios, the industry experts analyze that the industry would face at least a quarter of lag in electronics equipment supply chain that efficiently manage the waste generated in these industries. The outbreak pandemic is expected to create tremors through till mid-2021. The electronics equipment and associated services are likely to pick up pace sooner as governments across the world lifted the various containment measure steadily to revive the economy.
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global environmental consulting services market
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- The key findings and recommendations highlight crucial progressive industry trends in the global environmental consulting services market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
Market Dynamics
Drivers
- Rising Awareness in Industries Regarding Environmental Impact
- Government Regulations for Environment Protection
Restraints
- Lack of Focus on Regulatory Compliance
Opportunities
- Use of Renewable Technologies for Cleaner and Greener Environment
Future Trends
- Shift from Traditional Consulting to Cloud-Based Consulting
Companies Mentioned
- AECOM Inc.
- Jacobs Engineering Group Inc.
- Arcadis N.V.
- Bechtel Corporation
- John Wood Group PLC
- ERM Group, Inc.
- Tetra Tech Inc.
- ANTEA GROUP
- Stantec Inc.
- Ramboll Group
- SLR Consulting
- Golder Associates Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/ayqukx.
