According to our latest study on "Environmental Consulting Service Market Size and Forecast (2021-2031), Global and Regional Share, Trends, and Growth Opportunity Analysis - by Service Type, Media Type, Vertical, and Geography," the Environmental Consulting Service Market size was valued at US$ 43.04 billion in 2023 and is anticipated to reach US$ 77.35 billion by 2031. The Environmental Consulting Service Market is estimated to record a CAGR of 7.6% from 2023 to 2031. The report includes growth prospects owing to the current Environmental Consulting Service Market trends and their foreseeable impact during the forecast period.
Rise in Global Pollution Level to Provide Lucrative Opportunities for Environmental Consulting Service Market Growth During Forecast Period
Pollution, including air, water, and soil pollution, is one of the major issues of various industries across the globe. The burning of fossil fuels for transportation, energy, and industrial processes releases a substantial amount of pollutants, including particulate matter (PM), sulfur dioxide (SO2), nitrogen oxides (NOx), and volatile organic compounds (VOCs). In many urban areas, emissions from vehicles and industries continue to rise. At the same time, the global economy depends on intensely intertwined supply chains, sustained by more than 100 billion metric ton of raw materials entering the system every year. Intensive material consumption reduces natural resources and causes adverse environmental impacts at every stage of the product lifecycle, including production, use phase, and end-of-life. Total waste generated across the globe is expected to reach 3.4 billion metric ton by 2050, according to the report of the World Bank. With pollution control regulations becoming more stringent worldwide, environmental consultancy services are essential for ensuring compliance, preventing fines, and avoiding legal penalties. Further, as pollution continues to harm ecosystems and public health, businesses are increasingly required to assess and manage the health risks associated with their impact on the environment. Environmental consultants play a critical role in conducting environmental and health risk assessments, identifying pollution sources, and recommending ways to mitigate negative impacts. These consultants offer vital expertise in pollution monitoring, waste management, remediation, and regulatory compliance. Thus, the rise in pollution levels across the globe is expected to open lucrative opportunities for the environmental consulting services market growth during the forecast period.
Various companies in Germany are taking initiatives, such as partnerships, to adopt environmental consultancy services. For instance, in March 2024, Trinity Consultants-a leading global environmental consulting firm offering solutions and services in the life sciences, EHS regulatory compliance, built environment, and water and ecology markets-and Makersite announced a strategic partnership. With this partnership, Trinity will support Makersite by utilizing cutting-edge technology and expertise to revolutionize decarbonization strategies, environmental sustainability metrics assessment and tracking, and the development and implementation of sustainability programs. Thus, such growing initiatives is expected to fuel the Environmental Consulting Service Market growth in the country.
Environmental Consulting Service Market Report: Key Findings
The Environmental Consulting Service Market analysis is based on segmental assessment. Based on service type, the environmental consulting services market is segmented into investment assessment & auditing, permitting & compliance, project & information management, monitoring & testing, and others. Based on media type, the market is segmented into water management, waste management, and others. Based on the vertical, the environmental consulting services market is segmented into energy & utilities, chemical & petroleum, manufacturing & process industries, transportation & construction industries, and others. In terms of geography, the market is categorized into North America, Europe, Asia Pacific (APAC), Middle East and Africa, and South & Central America.
The investment assessment & auditing segment held the largest Environmental Consulting Service Market share in 2023. The focus on pollution, waste, deforestation, and other environmental concerns is rising. Environment impact assessment has become necessary to retrieve information regarding the environmental impact of certain projects or companies. Environment assessment and auditing are crucial for identifying and assessing environmental issues, as well as initiating corrective actions to ensure compliance with applicable environmental laws and regulations, internal management policies, and practices. In addition, investors and funders across various industries invest according to the results of environment assessment and auditing. Thus, businesses shift to environment consultancy services for efficient investment assessment and auditing to identify the projects or any company's environmental status associated with the investments.
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