A new study by Global Industry Analysts indicates that environmental remediation is a global multi-billion dollar industry. Environment conservation and protection of human health from exposure to contaminated soil, surface water, and groundwater is important for governments around the world.
Groundwater contamination is especially important as it causes a major impact on supply of potable water in Europe, Asia and Latin America. It is estimated that about a third of the world population could witness water shortages, with likelihood that this situation would emerge in China, India, Pakistan and Middle East, while sub-Saharan Africa and parts of Asia would be the most affected. This is expected to drive the global groundwater remediation market. The US, Germany and Japan are in their fourth stage of development, making efforts to minimize waste management with emphasis placed on recycling.
The developed countries control 80% of the total environmental market, and are expected to record the highest growth. The environmental remediation market has emerged as a critical global issue. While conventional technologies are widely used to cleanup industrially contaminated sites, the use of new technologies show increasing promise. Ozone oxidation, an age-old technology used for the treatment of water, is finding new application for environmental remediation purposes.
The research report titled “Environmental Remediation: A Global Outlook” by Global Industry Analysts, Inc., offers an aerial view of the global environmental remediation industry, identifies major market challenges, and growth drivers.