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Environmental Consulting Services Global Market Report 2021: COVID 19 Impact and Recovery to 2030

ReportLinker
·4-min read

Major companies in the environmental consulting services market include AECOM; Amec Foster Wheeler; Tetra Tech; Arcadis and Environmental Resource Management. The global environmental consulting services market is expected to grow from $29.

New York, Feb. 17, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Environmental Consulting Services Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06025352/?utm_source=GNW
08 billion in 2020 to $31.12 billion in 2021 at a compound annual growth rate (CAGR) of 7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $36.93 billion in 2025 at a CAGR of 4%.

The environmental consulting services (ECS) market consists of the sales of environmental consulting services and related goods by entities (organizations, sole traders and partnerships) that provide advice, assistance, and action plans to organizations and governments to manage their environment. It includes the prevention of environmental contamination, toxic substances, security consulting, waste management, and pollution control. Environmental consulting services undertake processes where human capital is the major input. They make available the knowledge and skills of their employees, often on an assignment basis, where an individual or team is responsible for the delivery of services to the client. The environmental consulting services market is segmented into site remediation consulting services; water and waste management consulting services; environment management, compliance and due diligence and other environmental consulting services.

North America was the largest region in the global environmental consulting services market, accounting for 50% of the market in 2020. Western Europe was the second largest region accounting for 19% of the global environmental consulting services market. Africa was the smallest region in the global environmental consulting services market.

Environmental consulting companies are increasingly promoting the utilization and installation of IoT technologies that can help enterprises and governments monitor and conserve the environment. For instance, environmental sensors measure pollution causing particles in air and water, thereby monitoring air or water quality. They also detect radiations and hazardous chemicals in the environment. IoT technologies can also offer efficient solutions for waste collection and disposal. Smart waste collection systems could help track waste levels in garbage bins, provide transport optimization and operational analytics, thereby saving on government assets and minimum fuel consumption.

The outbreak of Coronavirus disease (COVID-19) has acted as a restraint on the environmental consulting services market in 2020 as governments globally imposed lockdowns and restricted trade, thereby limiting the need for professional services. COVID 19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally including Western Europe, North America and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of ’lock down’ and the outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the environmental consulting services market will recover from the shock across the forecast period as it is a ’black swan’ event and not related to ongoing or fundamental weaknesses in the market or the global economy.

Sustainable development refers to the economic growth of a country or region, without or with minimum depletion of natural resources. The United Nations Organization established Sustainable Development Goals for all its members with an agenda to ensure responsible growth to 2030. These goals include ensuring availability and equitable access to drinking water, improving water quality by reducing pollution and preventing dumping of hazardous waste, building safe and resilient infrastructure, integrating measures to tackle climate change in national policies, and the promotion of sustainable use of marine and terrestrial resources. Investments in meeting these targets is expected to drive demand for the services of environmental services companies.


Read the full report: https://www.reportlinker.com/p06025352/?utm_source=GNW

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