Bioremediation Market Size Worth USD 334.70 Billion By 2027 Growing at a CAGR of 15.5%, According to Emergen Research
The global Bioremediation Market size will be worth USD 334.70 billion by 2027, according to a current analysis by Emergen Research. Rapid growth in the quantity of hazardous wastes and to complement that, remediation of these wastes is becoming a major concern throughout the world. To emphasize on monitoring and tackling the contamination issues to secure the future generations from resource scarcity, governments of the developed as well as the developing economies are analyzing the pros and cons on bioremediation techniques.
For instance, the U.S. Army Corps of Engineers are adopting techniques and taking initiatives to treat explosives-contaminated groundwater with the approach of bioremediation. In order to break down the explosive contaminants in Washington, the Federal agency is utilizing various types of microorganisms. Increasing rates of industrialization coupled with the population growth across major developing economies are also some of the major factors that are likely to fuel the market across the globe.
Furthermore, growth in the awareness levels regarding the scarcity of natural resources such as oil and water over the coming years; and affordability, safety and the efficiency levels of bioremediation compared to that of conventional technologies are the primary factors accountable for the growth of market.
Top Companies in Bioremediation Market are:
Probiosphere, Sarva Bio Remed, LLC, Altogen Labs, Aquatech International LLC, InSitu Remediation Services Limited, Regenesis, Ivey International, Inc., Drylet LLC, Sumas Remediation Services, Inc., and Xylem, Inc., among others.
Bioremediation Market Drivers During Forecast Period:
By Regional Outlook Segment:
The North American region's bioremediation industry held the largest market share in 2019 and is expected to maintain its dominance over the coming years. The Asia Pacific region is also projected to account for a significant market share and is expected to rise at the fastest CAGR over the forecast period due to rising urbanization, coupled with increased oil and gas consumption across the region's various industries.
Key Highlights From The Report
- In April 2020, Gaia Klén, LLC, based in North Carolina and owned by Delaware, entered into an agreement with Mavu Bio, based in Capetown, to revolutionize the bioremediation industry with environmentally friendly goods that are top of the line. R&D is on the way to a proprietary product containing microorganisms that have the potential to clean naturally.
- At present, because of the economic advantages it has, the preference for goods fitted with in situ bioremediation technology is substantially higher than that of ex situ bioremediation technology. It is predicted that this pattern will continue over the forecast period. Natural attenuation, composting, bio-slurping and venting, and microbe-assisted phytoremediation are the majority of the commonly applied in situ bioremediation technologies.
- It is anticipated that the growing number of government initiatives to help ongoing R&D activities of various private and public bodies would significantly improve the growth of services relevant to the global bioremediation industry. The Government of India, for instance, launched the Environmental Biotechnology Program in March 2019, which primarily focuses on supporting R&D activities in the field of bioremediation. The increasing demand for dye degradation from the textile industry is likely to account for the accelerating growth of phytoremediation treatment processes, while soil remediation and wastewater treatment are expected to remain the most prominent service forms.
For the purpose of this report, Emergen Research has segmented the global bioremediation market based on technology, services, and region
Technology Outlook (Revenue: USD Billion; 2017-2027)
- Fungal Remediation
- Land-Based Treatment
Services Outlook (Revenue: USD Billion; 2017-2027)
- Soil Remediation
- Wastewater Remediation
- Oilfield Remediation
Regional Outlook (Revenue: USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
Reasons to buy the report:
- This study segments the Bioremediation market and derives the precise valuation of the overall, as well as segment-based, market across different industry verticals, geographies, and products.
- The report will help participants understand the trajectory of the progress of the market and provide information on key drivers, restraints, challenges, threats, and opportunities for the growth of the Bioremediation sectors.
- This Bioremediation report would allow readers to be well-versed with the existing competition and gain more insights to improve their standing in the worldwide business. The competitive landscape considers the dominant competitors, along with product launches and technological advancements, strategic expansions, mergers and acquisitions, and procurement strategies implemented by key players in the Bioremediation market.
Key features of the report:
- To study the key aspects impacting the Bioremediation market size.
- To identify growth prospects in the Bioremediation market.
- To analyze the Bioremediation market segments and deduce the dominant trends observed in the industry.
- To examine the Bioremediation market by investigating the available products, market share, and value proposition of the products.
- To analyze the industry by assessing the scope and application of the Bioremediation market and highlight the growth of each application.
Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.4. Research Sources
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2020-2030
Chapter 3. Key Insights
Chapter 4. Bioremediation Market Segmentation & Impact Analysis
4.1. Bioremediation Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers’ analysis
4.2.3. Market restraints analysis
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Explore Complete Table of Content@ https://www.emergenresearch.com/industry-report/bioremediation-market
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