The environmental consulting services industry is expected to grow at a CAGR of 3.02% – from $31.9 billion to $35.9 billion – between now and 2021. Growth will result from a growing focus on sustainable development, development of smart cities, global collaborations for environmental protection and increasing environmental regulation.
Growth will be only equal to global GDP growth, however, because demand from China will grow at well below the country’s GDP growth rate owing to slow growth in manufacturing activity in the country and from the USA carbon emissions and climate change regulations being softened, the report from the Business Research company found.
The environmental consultancy services market has benefitted from the rising awareness of environmental concerns and the effects of sustainable environmental planning. Governments across the globe are continuously investing in environmental regulations and policies to be implemented by businesses, industries, and even households. However, the market will be negatively affected by the USA’s Trump administration’s softening of stringent policies and regulations on climate change and carbon emissions.
Companies in the environmental consultancy services market are constantly innovating and developing new services, such as carbon footprint management, maintaining cultural heritage, geographical information systems (GIS), marine environment, landscape architecture, and noise and vibration management. Furthermore, companies are also innovating new industry specific methods to manage waste, such as waste water treatment specific to the chemical, dairy, paper and pulp and mining industries.
The global environmental consulting services market is a fragmented market with few large players. AECOM was the largest competitor in 2017, with a 9.5% share of the market, followed by Amec Foster Wheeler PLC, Tetra Tech, Environmental Resources Management Limited and Arcadis.
Site remediation consulting services was the largest segment in the environmental consulting services market in 2017, which accounted for about 33.7% of the market. This was mainly due to the presence of a large number of manufacturing, construction and oil and gas industries that require the services of site remediation consulting companies.
