Environmental Remediation Market to Reach $218.8 billion, Globally, by 2032 at 7.1% CAGR: Allied Market Research
PORTLAND, Ore., April 8, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Environmental Remediation Market by Site-Type (Public and Private), Medium (Soil and Groundwater), Technology (Air Sparging, Soil Washing, Chemical Treatment, Bioremediation, Electrokinetic Remediation, Excavation, and Permeable Reactive Barriers), and Application (Mining & Forestry, Oil & Gas, Agriculture, Automotive, Landfills and Waste Disposal Sites, Manufacturing, Industrial, and Chemical Production/Processing, Construction and Land Development, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the "environmental remediation market" was valued at $110.7 billion in 2022, and is estimated to reach $218.8 billion by 2032, growing at a CAGR of 7.1% from 2023 to 2032.
- The Russia-Ukraine war had significant implications on the environmental remediation market, affecting both the demand for remediation services and the resources available for environmental cleanup efforts.
- As a result, there is an increased need for environmental remediation services to address these pollution incidents and mitigate their impacts.
- Geopolitical tensions and economic sanctions stemming from the Russia-Ukraine war impact international cooperation and investment in environmental remediation initiatives.
- Collaboration between countries and organizations on transboundary pollution issues and environmental cleanup projects are expected to be strained, leading to delays or disruptions in remediation efforts.