Future Demand for Environmental Consulting Services | Growth Factors and Opportunity
Environmental Consulting Services Market 2020-2025 Global Industry research report explores analysis of historical data along with size, share, growth, demand and revenue of the global Environmental Consulting Services and estimates the future trend of market on the basis of this detailed study. The study shares market performance both in terms of volume and revenue and this factor which is useful & helpful to the business.
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The global Environmental Consulting Services market accounted for US$ 29.7 Bn in 2016 and is expected to grow at a CAGR of 4.4% during the forecast period 2017 – 2025, to account for US$ 43.8 Bn in 2025.
Environmental consulting services include offering services for conducting an environmental impact assessment, obtaining clearances for new projects, and implementing environmental management plans. The environmental impact assessment is for development projects such as infrastructural projects, townships, commercial buildings, and industrial projects. Environmental auditing is being done for evaluating remediation technology options for obtaining clearances from the government regarding the project. And environmental management plans include developing, implementation and monitoring of plants for occupational health and safety management systems audit, analysis, and hazard and operability studies.
Environmental Consulting Services Market Insights
Rising awareness in industries regarding the impact on the environment is driving environmental consulting services market
Awareness regarding the protection of the environment in progressively increasing in industries in several verticals. Numerous companies are hiring environmental consultancies for reporting on their existing and future projects and their impact on the environment. As the revenues of the companies are increasing, they are following inorganic growth strategies such as acquisitions and expansions for increasing their presence in the global market. For setting up their plant in any new location, they have to get the clearance from the government for which they have to present a report based on the conditions of the land and the impact of the construction and the plant on the environment. Therefore, these companies are increasingly hiring environmental consultancies for the same.
Regulations for environment protection by government authorities is positively impacting the environmental consulting services market
The government of various countries has implemented strict regulations for the protection of the environment from the industries as well as the waste generated by it. These regulations are mandatory to be followed in order to continue the existing operations as well as for the growth and expansion of the companies. For instance, in the US, under the pollution prevention act of 1990, the industries must reduce the pollution generated by them through cost-effective changes in the operation, production, and use of raw materials. In India, the government enacted an environment protection act in 1986, which had the objective of providing solutions for the protection and improvement of the environment. Several specific standards have been developed for the effluent discharges from different industries such as aluminum, oil refineries, petrochemicals, thermal power plants, and others. In India, under the Air Act of 1981, establishment or operation of any industries in the pollution control area must get consent from the state boards and must test and present the report to the government for approval to be allowed for continuing its operation in the area. Such regulations are increasing the hiring of environmental consultancies by several companies for the reports and approvals, which is supporting the growth of environmental consulting services market.
Company Profiles Analysis
- AECOM, Inc
- CH2M Hill, Inc
- Arcadis N.V
- Bechtel Corporation
- John Wood Group PLC
- Golder Associates Ltd
- ERM Group, Inc
- Tetra Tech, Inc
- ANTEA GROUP
- Stantec, Inc
- Ramboll Group
- SLR International