US Environmental Clean Up & Remediation Market to be Dominated by Waste Disposal Sites Segment
Increasing pollution from the industrial sector and growing
environmental awareness are driving the United States Environmental Clean Up & Remediation Market.
According to TechSci
Research report, “United States Environmental Clean Up & Remediation Market
- By Region, Competition, Forecast & Opportunities, 2028”. United States Environmental Clean Up
& Remediation market is growing in the upcoming year due to the increasing
focus of remediation companies on land and water as a result of rising
industrial waste as well as strict regulatory norms, which is anticipated to
propel the United States Environment Clean Up & Remediation Market in the
upcoming years. The market for environmental clean up and remediation in the
United States is expected to experience healthy growth. Other important drivers
of the industry over the next five years are rand an increase in pipeline leaks
and mishaps. The elimination of pollutants or contamination from water and soil
is known as environmental clean
up and remediation. To preserve human health and to restore the environment,
these waste products or harmful chemicals are eliminated. Different natural
media, such as soil,
sediment, groundwater, and surface water, are subjected to ecological
rehabilitation.
Based on type, the market is segmented
into bioremediation, pump & treat, in-situ vitrification, thermal
treatment, chemical treatment, excavation, soil washing & others. In-situ
vitrification has the largest share among all other segments. The usage of
in-situ vitrification, a method to remove toxins from the soil with the use of
electricity and without causing pollution, has increased as a result of the
increased dumping of garbage into landfills. The in-situ vitrification market
dominates other remediation techniques because of its capacity to remediate
mixed wastes, including soils containing buried garbage or drums, dewatered
sludge, mining tailings, or
sediments.
Based on application, the market can be
segmented into waste disposal sites, oil & gas, mining, chemical &
petrochemical, manufacturing, agriculture, construction, and others. The waste
disposal sites segment held the largest market share followed by the chemical
& petrochemical segment. Containers and corrugated boxes, food, grass
clippings, couches, laptops, tires, and refrigerators are among the items that
may be disposed of at waste disposal facilities. Municipal solid waste (MSW)
production reached 292.4 million tonnes, or 4.9 pounds per person per day, in
2018, according to the United States Environmental Protection Agency. The
quantity of garbage being disposed of at waste disposal facilities will
increase as the population rises, which will fuel demand for environmental
clean up and remediation services in the US. The Western region accounted for
the highest proportion of the US market for environmental clean up and
remediation in 2020, and it is anticipated that it will continue to dominate
the market over the forecast period.
Recent developments:
One
of the top US suppliers of industrial cleaning, specialty maintenance, and
utility services, HydroChemPSC ("HPC"), was officially acquired by
Clean Harbors, Inc. on October 8, 2021. HPC was acquired by Clean Harbors from
a subsidiary of Littlejohn & Co., LLC for USD 1.25 billion in an all-cash
deal. A mix of already available cash and money from Clean Harbors' brand-new
2021 Incremental Term Loan financing that was finished in conjunction with the
deal were used to pay for the acquisition. The $1 billion in aggregate
principal amount of the 2021 incremental term loans was granted at a rate of
Libor + 200 basis points, and they are due in 2028.
Additionally, the projected acquisition of HPC by Clean
Harbors provides important strategic advantages, for instance:
- Appoints
a leadership group with a solid track record of success that is talented and
experienced
- Increases
the size, scope, and capacity of the Industrial Services and Field Services
companies
- Drives
increasing amounts of waste into landfills, incinerators, and other waste
treatment facilities operated by clean harbors.
- Strong
client interactions and more than 180 integrated sites are added.
- By
increased automation and hands-free technology, the safety profile of industrial
services is enhanced.
- Provides
significant cross-selling potential, especially in the waste and emergency
response sectors.
- Identifies
and seizes huge synergies in areas including customer service, transportation,
branch network, asset rentals, tank and vehicle refurbishing, subcontracting,
and procurement.
- In August 2021,
employee-owned design company HDR Inc. acquired WRECO, a leader in
environmental compliance, civil engineering, water resources planning, and
geotechnical engineering. HDR Inc. specializes in engineering, architecture,
environmental, and construction services.
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Key market players in the
United States Environmental Clean Up & Remediation Market include:
- US Ecology, Inc.
- Heritage Environmental Services, LLC.
- SUEZ North America, Inc
- ENTACT, LLC
- Terra Systems, Inc
- Veolia, North America
- BRISEA Group Inc.
- Golder Associates Inc.
- Clean Harbors Inc.
- Bechtel Corporation
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“Due to the government's
ongoing drive for strict and environment-friendly policy development and
execution, the United States is anticipated to see growth in the environment
clean up & remediation market during the projected period. The market is
expected to develop because of the rising demand for waste management and
environmental remediation from the manufacturing, chemical, oil & gas, and
manufacturing industries. Major firms already present in the market are also
anticipated to open up profitable chances for industry expansion. Additionally, the driving factors such as stringent regulatory norms
for environment clean up, increasing pollution from the industrial sector, and
growing environmental awareness is expected to boost the market growth. Therefore,
these factors are expected to fuel the market growth of the United States Environmental Clean Up
& Remediation market during the forecast period”, said Mr Karan Chechi,
Research Director with TechSci Research, a research-based global management
consulting firm.
“United States Environmental Clean Up & Remediation Market
By Medium (Soil, Surface Water & Ground Water), By Type (Bioremediation,
Pump & Treat, In Situ Vitrification, Thermal Treatment, Chemical Treatment,
Excavation, Soil Washing & Others), By Application (Waste Disposal Sites,
Oil & Gas, Mining, Chemical & Petrochemical, Manufacturing,
Agriculture, Construction and Others), By
Region, Competition, Forecast & Opportunities, 2028”, has
evaluated the future growth potential of United States Environmental Clean Up
& Remediation Market and provides statistics and information on market
structure, size, share, and future growth. The report is intended to provide
cutting-edge market intelligence and help decision-makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities present in the United
States Environmental Clean Up & Remediation Market.
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