Focus on Environment Safety & Soil Protection to Propel Market Growth
In the current day and age, fast-paced urbanization, industrialization, and the flurry of new technologies have led to environmental issues, such as an imbalance in the ecological process of soil, global warming, undesired climate change, etc. The consistent deposition of xenobiotic recalcitrant compounds in the environment has had hazardous repercussions due to which, several disposing techniques and strategies have emerged in recent years. At present, one of the most popular disposing strategies that have gained considerable attention is bioremediation. At present, a broad spectrum of bioremediation technologies and services are increasingly being used in bio stimulation, bio augmentation, phytoremediation, fungal remediation, land-based remediation, and bioreactors.
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Research and development activities continue to investigate the benefits and drawbacks of each of these bioremediation technologies and services. At present, biological bioremediation technologies and services, including bio stimulation and bio augmentation are increasingly being used to the higher efficacy levels and superior eco-friendliness quotient in comparison with the other existing alternatives. As the government bodies across the world continue to focus on environment protection, the bioremediation technology & services market is expected to witness noteworthy growth during the forecast period. Due to these factors, along with consistent research and development, the global bioremediation technology & services market is expected to attain a market value of ~US$ 20 Bn by the end of 2030.
Adoption of In Situ Bioremediation Technology to Remain High
Over the past couple of decades, new techniques and concepts to treat contaminated soil have emerged. At present, the adoption of the in situ bioremediation technology & services is relatively higher than that of ex situ bioremediation technology & services due to economic benefits and the trend is likely to continue during the forecast period. Some of the most extensively deployed in situ bioremediation technologies & services include natural attenuation, bio slurping, composting, bio venting, and microbe-assisted phytoremediation.
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The past couple of decades have witnessed consistent developments in the bioremediation techniques due to the mounting environmental concerns and emphasis on the development of a sustainable industrial and urban ecosystem. The adoption of biological remediation technologies & services is likely to be higher than that of the existing physical and chemical remediation techniques due to lower costs and environment-friendly features. Some of the most extensively deployed in situ bioremediation processes around the world include natural attenuation, bio augmentation, and bio stimulation. This is likely to drive the bioremediation technology & services market during the forecast period.
Market Participants Focus on Innovations and Development of New Remediation Technologies
In the last decade, the bioremediation technology & services market has witnessed a considerable amount of activity as market participants continue to prioritize launching cutting-edge bioremediation solutions that primarily support stabilization, sequestration, recovery, and destruction of contaminants. Advancements in the global bioremediation technology & services market during the forecast period are likely to occur in two main areas, including innovations that aim to improve the resolution at which the overlay of contaminants and hydrogeology can be interpreted and digital innovations that are expected to streamline the data collection process across larger data pools.
Research and development activities, along with the growing number of government initiatives and investments to support these activities are expected to provide a considerable boost to the development of the global bioremediation technology & services market. For instance, the Environmental Biotechnology program, initiated by the Government of India largely focuses on assisting the research and development activities within the bioremediation sphere. While wastewater treatment and soil remediation are likely to remain the most prominent service types, the growing demand for degradation of dyes from the textile industrial affluent is expected to play a key role in accelerating the development of phytoremediation treatment processes.
Demand Likely to Remain Sluggish amid COVID-19 Pandemic
As the COVID-19 infection spreads across the world, operations across an array of industrial sectors have been affected considerably. The COVID-19 pandemic is expected to have a short-term impact on the overall growth of the global bioremediation technology & services market. As governments across the world seek novel ways to contain the transmission of the COVID-19 virus, lockdowns, trade restrictions, and stringent transportation guidelines are expected to stall the development of new bioremediation technologies & services.
While the demand is likely to remain relatively low in 2020, the analysts at the predict that the adoption of bioremediation technology & services is projected to witness considerable growth in the upcoming months as operations across the value chain of the global bioremediation technology & services market resume gradually.
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The global bioremediation technology & services market is expected to grow at an impressive CAGR of ~7% during the forecast period. The mounting environmental concerns coupled with stringent environment protection guidelines, research and development, entry of innovative bioremediation technologies and services, and rise in the number of government initiatives and programs, which aim to support research and development in the current landscape will play an important role in boosting the overall growth of the bioremediation technology & services market during the assessment period.
Bioremediation Technology & Services Market: Overview
Bioremediation involves use of organisms that help remove or neutralize contamination from waste. It is the process that uses naturally occurring organisms, which help in the breakdown of hazardous substances into non-toxic or less toxic substances.
The importance of bioremediation is that it does not use chemicals and allows the waste to be recycled once the contamination is removed or neutralized
Soil remediation is reduction of contaminant concentrations in the soil. Remediation is required when the concentration of hydrocarbons in the soil increases, which could affect human health.
Wastewater remediation is a process that targets the monitoring and abatement of trace pollutants in water. Physico-chemical techniques and biological treatments are common technologies used to treat wastewater.
Emphasis on government regulations coupled with initiatives for monitoring and tackling contamination issues aimed at environmental sustainability is the major driving factor responsible for the growth of the global bioremediation technology & services market
The Environment Protection Authority (EPA) is an agency of the U.S. Government that aims to evaluate and treat the contaminated areas at a global level. In the past few years, efforts of the EPA are reflected through its significant multilateral partnerships in the corporate world, aiming to improve the global climate and future environmental health outcomes. The EPA conducts the Superfund program for cleaning up the most contaminated areas in the U.S.
Rapid industrialization and population growth in developing countries is are also some of the factors fueling the growth of global bioremediation technology & services market
Moreover, rise in awareness about natural resources scarcity such as water and oil in the near future; and safety, cost-effectiveness, and efficiency of bioremediation compared to conventional technologies contribute to the growth of global bioremediation technology & services market
Market Segmentation: Bioremediation Technology & Services Market
Based on type, the global bioremediation technology & services market has been bifurcated into in situ bioremediation and ex situ bioremediation
In terms of technology, the global bioremediation technology & services market has been divided into phytoremediation, biostimulation, bioaugmentation, bioreactors, fungal remediation, and land-based treatments
Based on service, the global bioremediation technology & services market has been segmented into soil remediation, wastewater remediation, oilfield remediation, and others
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Each of the bioremediation technology & services market segments has been analyzed in detail for market trends, recent trends and developments, drivers, restraints, opportunities, and useful insights
The bioremediation technology & services market report provides current and future revenues (US$ Mn) for each these segments for the period from 2018 to 2030, considering 2019 as the base year. The compound annual growth rate (% CAGR) has been provided for each segment and market from 2020 to 2030, along with market size estimations.
Regional Overview: Bioremediation Technology & Services Market
In terms of region, the global bioremediation technology & services market has been divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The regions have been further divided into major countries and sub-regions.
North America dominated the global bioremediation technology & services market during the forecast period and dominated the market in 2019
The current and future bioremediation technology & services market sizes in terms of revenue (US$ Mn) of these regional markets and their major countries have been provided in the report for the period from 2018 to 2030, with their CAGRs for the period from 2020 to 2030
The study also offers a list of recommendations, highlights, and useful insights of the market, which would help new companies willing to enter the market and existing companies to increase market shares, and help in the decision-making process
Major Players in Bioremediation Technology & Services Market
The bioremediation technology & services market report concludes with the company profiles section that includes key information about the major players in the market
Key players analyzed in bioremediation technology & services market report are
- Xylem, Inc.
- Aquatech International LLC
- Drylet LLC
- Altogen Labs
- InSitu Remediation Services Limited
- Ivey International, Inc.
- Sumas Remediation Services, Inc.,
- Sarva Bio Remed, LLC.
Each of these players has been profiled in the global bioremediation technology & services market report based on parameters such as company overview, financial overview, business strategies, product portfolio, business segments, and recent developments
Key Questions Answered in Bioremediation Technology & Services Market Report
- What is the sales/revenue generated by each type, technology, and service segment of the bioremediation technology & services market across all regions during the forecast period?
- What are the opportunities in the global bioremediation technology & services market?
- What are the major drivers, restraints, opportunities, and threats in the market?
- Which region is likely to expand at the fastest CAGR during the forecast period?
- Which bioremediation technology & services segments are expected to generate the highest revenue globally in 2030? Which segment is projected to expand at the highest CAGR during the forecast period?
- What is the market share or position of different companies operating in the global market in 2019?
Bioremediation Technology & Services Market – Segmentation
- In Situ Bioremediation
- Ex Situ Bioremediation
- Fungal Remediation
- Land-based Treatments
- Soil Remediation
- Wastewater Remediation
- Oilfield Remediation
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
TABLE OF CONTENT
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions and Research Methodology
3. Executive Summary : Global Bioremediation Technology & Services Market
4. Market Overview
4.1.1. Technology & Services Definition
4.1.2. Industry Evolution / Developments
4.3. Market Dynamics
4.4. Global Bioremediation Technology & Services Market Analysis and Forecast, 2018–2030
4.4.1. Market Revenue Projections (US$ Mn)
5. Key Insights
5.1. Bioremediation Service Offerings Comparative Assessment, by Company
5.2. Key Bioremediation Projects-Snapshot
5.3. Government Initiatives/Key Investments Assessment
6. Global Bioremediation Technology & Services Market Analysis and Forecast, by Type
6.1. Introduction & Definition
6.2. Key Findings / Developments
6.3. Market Value Forecast, by Type, 2018–2030
6.3.1. In Situ Bioremediation
6.3.2. Ex Situ Bioremediation
6.4. Market Attractiveness, by Type
7. Global Bioremediation Technology & Services Market Analysis and Forecast, by Technology
7.1. Introduction & Definition
7.2. Key Findings / Developments
7.3. Market Value Forecast, by Technology, 2018–2030
7.3.5. Fungal Remediation
7.3.6. Land-based Treatments
7.4. Market Attractiveness, by Technology
8. Global Bioremediation Technology & Services Market Analysis and Forecast, by Services
8.1. Introduction & Definition
8.2. Key Findings / Developments
8.3. Market Value Forecast, by Services, 2018–2030
8.3.1. Soil Remediation
8.3.2. Wastewater Remediation
8.3.3. Oilfield Remediation
8.4. Market Attractiveness, by Services
9. Global Bioremediation Technology & Services Market Analysis and Forecast, by Region
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