Bioremediation Market to grow by USD 6.21 billion from 2022 to 2027, Several benefits associated with bioremediation solutions to drive the growth- Technavio
NEW YORK, Sept. 13, 2023 /PRNewswire/ — The bioremediation market is expected to grow by USD 6.21 billion from 2022 to 2027. However, the growth momentum of the market will progress at a CAGR of 8.71% during the forecast period. The market is segmented by type (in situ and ex-situ), service (soil remediation, wastewater remediation, and oilfield remediation), and geography (North America, Europe, APAC, Middle East and Africa, and South America). The increasing incidence of pollution and contamination is a key factor driving market growth. There is an astonishing pace of growth in the population. The UN’s latest report projects that the global population will reach 8.8.6 billion in 2030, 9.8 billion in 2050, and 11.1 billion by 2100. An accumulation of soil, water, and air pollutants will unavoidably result from the intensive agricultural and industrial systems required to support such a large population. In addition, rapid industrialization often leads to increased production and waste generation. Improper treatment and disposal of industrial waste will result in the release of pollutants into the environment, including water, air, and soil. Meeting the pollution and pollution challenges brought about by rapid industrialization requires the implementation of comprehensive environmental management. Hence, these factors are expected to drive market growth during the forecast period. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View FREE PDF Sample
Key Highlights:
- The report recognizes the following as some of the key players in the bioremediation market: Altogen Labs, BioPetroClean, Carus Group Inc., Drylet Inc., Envirogen Group UK Ltd., Geovation Engineering P.C., Ivey International Inc., Kankyo Group, OSEI Corp., REGENESIS, RNAS Remediation Products, Sarva Bio Remed LLC, Shandong Sukahan Bio-Technology Co. Ltd., Sumas Remediation Services Inc., The BioSolve Co., The ServiceMaster Co. LLC, and JRW Bioremediation LLC
- Bioremediation Market is fragmented in nature.
- Market to observe 7.54% YOY growth in 2023.
Major Trend
- The growing adoption of nanotechnology in bioremediation is a major trend in the market.
Significant Challenge
- A shortage of qualified professionals with specialized skills is a significant challenge restricting market growth.
The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing a report
Key Segments:
- The in-situ segment will account for a major share of the market’s growth during the forecast period. In situ, bioremediation involves the treatment of contaminated soil or groundwater at the original site without excavation or removal. It uses a variety of biotechnological processes, among which are to break up and remove pollutants, sometimes using methods like BioEnhancement, Biostimulation, BioSpraying, or Bioventilation. Biostimulation is a remedy that is both economical and environmentally friendly. The application of Biofortification involves the introduction of cultured microorganisms into soil or groundwater to accelerate the breakdown of contaminants. As a result, increasing pollution and contamination will drive the demand for on-site bioremediation technologies and services. Hence, these factors are expected to drive market growth during the forecast.
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ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Type
Market Segmentation by Service
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
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