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Environmental Consulting Services Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Service Type, Media Type, and Vertical

·5-min read

The environmental consulting services market is expected to grow from US$ 34,365. 5 million in 2020 to US$ 50,974. 7 million by 2028; it is estimated to grow at a CAGR of 5. 4% from 2021 to 2028.

New York, May 20, 2021 (GLOBE NEWSWIRE) -- announces the release of the report "Environmental Consulting Services Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Service Type, Media Type, and Vertical" -
The environmental consultancies comprise various disciplines such as contaminated land, energy, geotechnical, environment management systems, green claims, compliance, impact assessment, flood risk, asbestos management, radon, and carbon.Furthermore, owing to surging global population and increasing demand for single-family homes, the residential construction sector has started gaining momentum in recent years after weak growth in the past years.

Thus, the growth in residential construction surges the need for an efficient water management system, which boosts the demand for environmental consulting services.The residential sewage accounts for a major share of a total sewage volume of a city/area.

Due to the constant growth of the population, the countries in Asia and the Middle East have witnessed a surge in the number of residential construction projects in recent years, which, in turn, has created a significant demand for the proper water and waste management system.

Based on service type, the permitting & compliance segment is growing with the highest CAGR in the global environmental consulting services market in 2020.With augmenting concerns regarding environmental conservation, governments and corporates worldwide are actively exploring sustainable solutions for their operations, to reduce their environmental footprint.

As large enterprises have the supply chain spread across various multiple regions, they need to comply with various regulatory laws existing in different regions.Governments are offering various benefits in form subsidies and tax benefits for business investing in suitable solutions.

Thus, businesses approach environmental consulting firms to maximize returns on their investments by assessing investments and carrying out audits.By media type, the market is segmented into water management, waste management, and others.

Similarly, based on vertical, the market is segmented into energy & utilities, chemicals & petroleum industries, manufacturing and process industries, transportation and construction sectors, and others. In terms of geography, in 2020, the global environmental consulting services market the fastest growing market resides in APAC. Asia Pacific has a growing economy, which is leading to the growth of wide variety of sectors, such as infrastructure, manufacturing, and technology. Almost 60% of the world’s population lives in Asia Pacific, China and India being most populated countries. More than 2 billion people live in the urban areas, which increases the demand for several new constructions. Also, many of the cities in the region are technology hub, which increases the number of companies expanding to the region, which leads to the construction of new commercial buildings and reconstruction of older buildings into larger spaces. All these factors are driving the growth of the environmental consulting services market.

The COVID-19 outbreak has severely impacted the manufacturing, energy & utilities, chemical & petroleum, and transportation & construction industries.Amid the emergence of outbreak pandemic across the world, owing to the lockdown scenarios, the industry experts analyze that the industry would face at least a quarter of lag in electronics equipment supply chain that efficiently manage the waste generated in these industries.

The outbreak pandemic is expected to create tremors through till mid-2021.The electronics equipment and associated services are likely to pick up pace sooner as governments across the world lifted the various containment measure steadily to revive the economy.

The environmental consulting service providers are anticipated to gain pace from 2021, which is further foreseen to positively influence the manufacturing units across different industries.The US is the most affected country in North America.

The growing number of COVID-19 confirmed cases in the country has led the government to impose various containment measure such shutdown of factories, restrictions on travel, and closure of international borders and lockdowns. The huge increase in the number of confirmed cases and rising reported deaths in the country affected both manufacturing and sales of materials. During the pandemic, various companies minimized the allocated budget for the manufacturing of industrial machineries owing to economic slowdown, which affected negatively the global environmental concerns.

The overall environmental consulting services market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

The process also serves the purpose of obtaining an overview and forecast for the environmental consulting services market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.

The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the environmental consulting services market. AECOM Inc.; Jacobs Engineering Group Inc.; Arcadis N.V.; Bechtel Corporation; John Wood Group PLC; ERM Group, Inc.; Tetra Tech Inc.; ANTEA GROUP; Stantec Inc.; Ramboll Group; SLR Consulting; and Golder Associates Ltd. are among the players operating in the market.
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