Environmental Technology Market: Current Analysis and Forecast (2023-2030)

Report Description

The global environmental technology market is expected to grow at a strong CAGR of around 8% during the forecast period (2023-2030). The market is growing on account of increasingly stringent government regulations to reduce environmental non-compliance activities. Further, increasing demand for resources coupled with resource scarcity is also propelling the environmental technology market. Since environmental resources play a key role in industrial production using them increases the demand for technology to efficiently utilize and reuse resources. For instance, in the present scenario in the U.S., the water treatment and reuse industry witnessing large investment and development to produce natural gas using hydraulic fracturing techniques owing to the high cost of water in hydraulic fracturing operations.

For instance, Some of the most important laws that control environmental technology in the US are the Resource Conservation and Recovery Act (RCRA), Clean Air Act, and Clean Water Act. The EPA also offers several optional initiatives, like the Energy Star program, to help individuals and companies cut back on energy use and greenhouse gas emissions.

Some of the major players operating in the market include TotalEnergies, Teledyne Technologies Incorporated, AECOM, Lennox International Inc., Xylem, Thermax Limited, Veolia Environnement SA, Thermo Fisher Scientific Inc., Waste Connections, Sunfire GmbH.

Insights Presented in the Report

“Amongst component, services category held the prominent market share in 2022 and is expected to retain its position during the forecast period”

Based on component, market is categorized into solutions and services. Among these, services category held the prominent market share in 2022 and is expected to retain its position during the forecast period. This is mainly due to the increasing demand for environmental resources, proper maintenance, utilization, waste management, resource recovery, and analytical services to maximize environmental resource efficiency. Further, to comply with government strict regulations, companies are taking engineering and consulting services to transform their business.  This surges the service segment in the global environmental technology market.

“Amongst organization, large enterprise captured a prominent revenue share in the market”

Based on organization, the market is trifurcated into small & medium enterprises, large enterprise, and public-sector municipalities. Among these, large enterprise captured a prominent revenue share in the market owing to their advanced technologies which can deal with different types of environmental challenges. The electricity, energy, and utilities sector are expected to be the biggest buyer of environmental technologies among large organizations. The growing renewable energy sector is largely responsible for the significant market share of the electricity, energy, and utilities sectors.

Environmental Technology Market Report Coverage

“Europe is expected to register the highest growth rate in the forecast period”

The Europe market is expected to register the highest growth rate in the forecast period. This is mainly due to the numerous nations’ investments extensively taking place in solar, wind, and hydropower within the region. Europe plays a significant role in the development of renewable energy technology. Various businesses in the region are also working on cutting-edge energy storage technologies like batteries and hydrogen fuel cells to counteract the erratic nature of renewable energy sources. With many nations pursuing policies and programs to promote the use of energy-efficient homes, appliances, and transportation systems, Europe also has energy-efficiency technologies. For instance, in 2021, Siemens announced plans to become carbon-neutral by 2030, with a focus on developing renewable energy technologies and energy-efficient solutions for its customers. Siemens is also expanding its portfolio of smart infrastructure solutions, including electric vehicle charging infrastructure and energy management systems.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
• The report presents a quick review of overall industry performance at one glance
• The report covers in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive country level analysis of the industry

Customization Options:

The global environmental technology market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for Global Environmental Technology Market Analysis (2023-2030)

Analyzing the historical market, estimation of the current market, and forecasting the future market of the Environmental Technology three major steps undertaken to create and analyze its adoption across the globe. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the environmental technology industry. Post assumption and validation of market numbers through primary interviews, we employed a bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments to the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the environmental technology through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the environmental technology market, we conducted a detailed secondary analysis to gather current market insights and share for different segments & sub-segments for major regions. Major segments included in the report are by component, environmental medium, and organization. Further regional and country-level analyses were conducted to evaluate the overall adoption of environmental technology globally.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Environmental Technology. Further, we conducted factor analysis using dependent and independent variables such as increasing government initiatives to protect the environment and rising concern related to resource scarcity. A thorough analysis was conducted for demand and supply-side scenario considering increasing investment, top partnerships, merger and acquisition, business expansion, and product launches in the environmental technology industry.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global environmental technology market, and market shares of each segment. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the hair care appliances market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global hair care appliances market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the global environmental technology market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of component, environmental medium, and organization.

The main objective of the environmental technology market study

The current & future market trends of global environmental technology were pinpointed in the study. Investors can gain strategic insights to base their discretion on investments from the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market at a country level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of environmental technology in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of components, environmental medium, and organization
• Defined analysis of the regulatory framework for the environmental technology industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of environmental technology for the major countries
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
• Company profiles of the environmental technology market players and the growth strategies adopted by them to sustain in the growing market

Deep dive country level analysis of the industry

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