LONDON – According to The Business Research Company’s research report on the environmental technology market, the government’s initiatives toward sustainability and green technology are expected to propel the growth of the environmental technology market going forward. Government initiatives are a way for people to have their voices heard and get a chance to vote on issues that affect all of us. Government initiatives help towards sustainability and green technology by recycling waste, purifying water, reducing pollution in water sources and air, and conserving the natural environment and resources. For instance, in November 2021, the UK launched the “Clean Green Initiative,” which is a funding package to roll out environmental technologies in developing countries. The package will invest $3.7 billion in the rollout of environmental technology in developing countries. Therefore, initiatives taken by governments across the world to increase green technology are driving the environmental technology market growth.
The global environmental technology market size is expected to grow from $507.43 billion in 2021 to $540.45 billion in 2022 at a compound annual growth rate (CAGR) of 6.5%. The global environmental technology market size is expected to grow to $666.62 billion in 2026 at a CAGR of 5.4%.
Technological advancements are a key trend gaining popularity in the environmental technology market. Major companies operating in environmental technology are introducing innovative solutions to strengthen their position in the market. For instance, in October2021, Carbon Clean, a US-based company operating in environmental technology, launched the smallest industrial carbon capture technology, CycloneCC. This innovative solution reduces the impact of carbon on the environment.
Major players in the environmental technology market are Lennox International, Abetment Technologies, AECOM, Teledyne Technologies Incorporated, Thermo Fisher Scientific Inc., Abetment Technologies, Veolia, Biffa, Svante Inc., Carbon Clean, Total S.A., Covanta Holding Corporation, Carbon Clean, Cypher Environmental, Svante Inc., CarbonCure Technologies Inc, and TRC Companies
The global environmental technology market is segmented by technology into IoT, artificial intelligence, cloud computing, blockchain; by components into services, solutions; by vertical into residential, industrial transportation and logistics; by application into air and water pollution monitoring, water purification, crop monitoring, management of carbon footprints, waste management, other.
Asia-Pacific was the largest region in the environmental technology market in 2021. North America is expected to be the fastest-growing region in the global environmental technology market during the forecast period. The regions covered in the global environmental technology industry forecast are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Environmental Technology Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide environmental technology market overviews, environmental technology market analyze and forecast market size and growth for the whole market, environmental technology market segments and geographies, environmental technology market trends, environmental technology market drivers, environmental technology market restraints, environmental technology market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Source: TBRC Business Research PVT LTD
