A new MarketWatch report suggests that the Environmental Remediation Market is expected to grow to $164 Billion by 2026. In 2019, the industry brought in over $98.5 billion with an anticipated 7.5% Compound Annual Growth Rate (CAGR) for the coming years. Environmental Remediation is seeing this rise alongside the increase in environmental awareness.
The industry is responsible for eliminating contamination, pollution, and exposure to various radiations in the soil, rocks, sediment and groundwater. Environmental services cover a broad range of technologies including Thermal desorption, in situ oxidation, surfactant enhanced aquifer remediation (SEAR) and nanoremediation.
As the country’s aging infrastructure is replaced, environmental remediation will be important to ensure old infrastructure such as lead is removed and the nearby soil and water is treated, ensuring public safety and environmental health. Remediation also helps to clean up the 1,344 superfund sites across the country that are on the national priorities list.