Environmental Industries Grew in 2013
The global environmental industry grew 3.6 percent in 2013, generating revenues of $1.047 trillion, while the US environmental industry grew just 0.7 percent in 2013 compared to 4.5 percent in 2012, according to research from Environmental Business International.
The US environmental industry’s total of $344.84 billion in annual revenues represented 2.81 percent of the gross domestic product in 2013, and environmental industry employment reached 1.75 million.
The US remains the largest global market for environmental technologies and services at $340.4 billion in 2013, followed by Western Europe at $292 billion and Japan at $104.8 billion. The fastest growing environmental markets are in the Middle East and Africa, both at 8 percent, and in Canada at 7 percent.
Out of 14 business segments tracked by EBI, water utilities ($167.1 billion), clean energy systems and power ($164.7 billion) and solid waste management ($163.8 billion) were the top three global segments by size in 2013. Clean energy knocked solid waste from the number two ranking it held in 2012.
According to George Stubbs of EBI’s Environmental Business Journal, the US government as a client category was the single biggest reason for declining growth in environmental service revenues in 2013. The impact of federal markets was felt most acutely in environmental consulting and engineering, one of 14 environmental segments tracked by EBI since 1988.
In regards to the global environmental industry, the primary market driver is resource development, led by oil and gas activity, followed by power, key manufacturing sectors, water and wastewater utilities, and renewable energy, according to a global markets survey conducted in summer 2014.
In a report released in August, EBI forecast a billion-dollar US industry by 2016 derived mostly from analysis, assessments, mapping and planning projects led by consulting and engineering firms, specialist climate change consultancies, and professional service firms.
In October, the market research firm Environmental Analyst released a report indicating The UK environmental consultancy sector grew 5.2 percent in 2013.
Photo Credit: Industry growth via Shutterstock
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