Bioremediation Technology & Services Market
Bioremediation Technology & Services Market (Type: In Situ Bioremediation and Ex Situ Bioremediation; Technology: Phytoremediation, Biostimulation, Bioaugmentation, Bioreactors, Fungal Remediation, and Land-based Treatments; Services: Soil Remediation, Wastewater Remediation, Oilfield Remediation, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030
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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.
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.
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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 Transparency Market Research 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
- 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
Bioremediation Technology & Services Market – Scope of the Report
TMR’S report on the global bioremediation technology & services market studies past as well as current growth trends and opportunities to gain valuable insights of the same indicators for the said market during the forecast period from 2020 to 2030. The report provides the overall market revenue of the global bioremediation technology & services market for the period of 2018–2030, with 2019 as the base year and 2030 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global bioremediation technology & services market for the forecast period.
The report has been prepared after an extensive primary and secondary research. Primary research involves bulk of research efforts, wherein, analysts carry out interviews with key opinion leaders, industry leaders, and opinion makers. Extensive secondary research involves referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global bioremediation technology & services market.
Secondary research also includes Internet sources, statistical data from government agencies, websites, and trade associations. Analysts have employed a combination of top-down and bottom-up approach to study various phenomena in the global bioremediation technology & services market.
The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments and sub-segments included in the scope of the study. Furthermore, the report sheds light on changing competitive dynamics in the global bioremediation technology & services market. These indices serve as valuable tools for existing market players as well as for entities interested in participating in the global bioremediation technology & services market.
The report delves into the competition landscape of the global bioremediation technology & services market. Key players operating in the global bioremediation technology & services market have been identified, and each one of them has been profiled for their distinguishing business attributes. Company overview, financial standings, recent developments, and SWOTs are some of the attributes of players in the global bioremediation technology & services market that have been profiled in this report.
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 – Research Objectives and Research Approach
The comprehensive report on the global bioremediation technology & services market begins with an overview of the said market, followed by the scope and objectives of this study. Following this, the report provides detailed explanation of the objectives behind this study, key industrial developments in terms of merger, acquisition, strategic partnerships, key investments, and key bioremediation projects have been provided.
For reading comprehensibility, the report has been compiled in a chapter-wise layout, with each section divided into small sections. The entire report comprises an exhaustive collection of graphs and tables appropriately interspersed in the entire compilation. Pictorial representation of actual and projected values of key segments is visually appealing to readers. This also allows comparison of the market shares of key segments in the past and at the end of the forecast period.
The report analyzes the global bioremediation technology & services market in terms of type, technology, service, and region. Key segments under each criteria have been studied at length, and the market share for each of them at the end of 2030 has been provided herein. Such valuable insights enable market stakeholders in making informed business decisions for investment in the global bioremediation technology & services market.
Bioremediation Technology & Services Market – Segmentation
TMR’s study on the global bioremediation technology & services market includes information divided into four sections ? by type, by technology, by service, and by region. Changing industry trends and other crucial market dynamics associated with these sections of the global bioremediation technology & services market have been discussed in detail.
In Situ Bioremediation
Ex Situ Bioremediation
Middle East & Africa