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Global Bioremediation Technology & Services Market Size, Trends & Analysis - Forecasts to 2026 By Technology (Phytoremediation, Biostimulation, Bioaugmentation, Fungal Remediation, Land-based Treatments, Bioreactors), By Type (In Situ Bioremediation, Ex Situ Bioremediation), By Service (Soil Remediation, Wastewater Remediation, Oilfield Remediation, Others), By Region (North America, Europe, Asia Pacific and Rest of the World); Vendor Landscape, End User Landscape and Company Market Share Analysis & Competitor Analysis
Bioremediation Technology & Services Market: Insights
The global bioremediation technology & services market is expected to generate revenue amounting to USD 9.70 billion in 2020, and is projected to reach to USD 14.68 billion by 2026, growing at a CAGR of 7.15% over the forecast period. Bioremediation involves use of organisms that helps to 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. Favorable government regulations along with growing initiatives for monitoring and tackling contamination issues are some of the major factors expected to propel the market growth during the forecast period. Rapid urbanization and industrialization across developing nations is also driving the market growth for bioremediation technology & services. 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 are also expected to boost the market growth during the forecast period.
Bioremediation includes the utilization of biomaterial to neutralize or normally kill waste sullying. The procedure includes separating harmful substances into less poisonous ones. Growing river conservation through bioremediation across various regions including North America, Europe, Asia Pacific, and Central & South America is further projected to propel the market growth of bioremediation technology & services.
Bioremediation Technology & Services Market Segmentation
The global bioremediation technology & services market is segmented on the basis of type into in situ bioremediation, and ex situ bioremediation. In suit bioremediation segment is expected to grow at a significant market share during the forecast period. In situ bioremediation is the application of a biological treatment to clean up hazardous compounds present in the environment. In suit bioremediation is used to neutralize pollutants including hydrocarbons, chlorinated compounds, nitrates, and toxic metals among other pollutants through a variety of chemical mechanisms.
On the basis of technology, the global bioremediation technology & services market is segmented into phytoremediation, biostimulation, bioaugmentation, bioreactors, fungal remediation, and land-based treatments. The fungal remediation segment is expected to hold the largest market share during the forecast period. Rise in pollution of water & soil, and increase in radioactive contaminated areas are some of the major factors expected to propel the market growth during the forecast period.
Fungal remediation technology is a cost-effective procedure compared to other technologies. Land based treatments segment is expected to grow at a significant market rate during the forecast period. Rise in awareness about land-based procedures for contamination process along with growing number of manufacturing & pharma companies is also expected to propel the market growth during the forecast period.
On the basis of services, the market is segmented into soil remediation, wastewater remediation, and oilfield remediation, among others. The waste water remediation segment is expected to hold the largest market share in the global bioremediation technology & services market during the forecast period. The decline in disposal costs and development of existing & new wastewater treatment technologies in order to optimize resource consumption are some of the major factors driving the market growth for wastewater remediation segment.
Bioremediation Technology & Services Market – Regional Analysis
On the basis of region, the market of bioremediation technology & services is segmented into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa. The North America region is expected to dominate the global bioremediation technology & services market during the forecast period. Presence of major manufacturing industries, and increase in government funding for research & development activities in the bioremediation field are driving the market growth in the region. Rise in number of companies offering bioremediation services in the region is also driving the market growth. In 2017, the Government of Canada invested approximately CAD 149,984 to establish a laboratory and field analysis facility which is used to conduct research on bioremediation and bio-mining wastes.
The Asia Pacific region is expected to grow at a high CAGR during the forecast period. Expanding manufacturing sector along growing FDI investments in the developing region such as India, Japan and China is driving the market growth in the region.
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.
In November 2019, Regenesis introduced ORC Advanced, a state-of-the-art technology for stimulating aerobic bioremediation of contaminated groundwater. ORC Advanced are designed specifically for in-situ treatment of petroleum-based hydrocarbon contaminations.
Check the Press Release on Global Bioremediation Technology & Services Market Report
Bioremediation Technology & Services Market: By Technology
Bioremediation Technology & Services Market: By Type
Bioremediation Technology & Services Market: By Service
Bioremediation Technology & Services Market: By Region
The global Bioremediation Technology & Services Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Bioremediation Technology & Services Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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