The environmental technology market is estimated at USD 552.1 billion in 2021 and is projected to reach USD 690.3 billion by 2026, at a CAGR of 4.6% from 2021 to 2026

The environmental technology market is on course for intense growth across different verticals such as power, energy & utilities, manufacturing, retail & consumer goods, construction & building materials, government & defense, oil & gas, and others.

New York, June 24, 2021 (GLOBE NEWSWIRE) -- announces the release of the report "Environmental Technology Market by Component, Technological Solutions, Application, Vertical And Region - Global Forecast to 2026" -

Environmental technology includes the application of environmental sciences for the development of new technologies to monitor, conserve, or reduce environmental impacts. These technologies help prevent or mitigate pollution; manage or reduce waste streams; remediate contaminated sites; design, develop & operate environmental infrastructure; and deliver environmental resources.

Solutions segment is expected to dominate the environmental technology market during 2021-2026
By component, the solutions segment is estimated to be USD 471.4 billion in 2021 and is projected to reach USD 586.7 billion by 2026, at a CAGR of 4.5% during the forecast period. The solutions segment dominated the global environmental technology market in 2020 due to the rising awareness regarding the increased carbon footprint.

Energy source for power generation and fuel segment is expected to dominate the environmental technology market, by application, during the forecast period
By application, the energy source for power generation & fuel segment is projected to lead the market during the forecast period due to the growing demand for renewable energy technologies.Electricity generation using renewable sources such as wind energy, solar energy, and geothermal energy is gaining momentum in all the sectors, including commercial and industrial, globally.

Industries such as manufacturing, oil & gas, automobiles, cement, chemicals, and engineering industries have started using solar power through solar PV-based captive power generation.

Asia Pacific is expected to dominate the environmental technology market during 2021-2026
Asia Pacific was the largest market for environmental technology in 2020.It is the largest crude oil importing region globally.

The primary energy demand in Asia Pacific is huge, mainly due to the continuous population growth, and hence the energy sector is expected to drive the environmental technology market growth in the region.

Profile break-up of primary participants for the report:
• By Company Type: Tier 1 – 65%, Tier 2 – 24%, and Tier 3 – 11%
• By Designation: C-level Executives – 30%, Director level – 25%, and Others– 45%
• By Region: Asia Pacific – 33%, North America – 27%, Europe – 20%, South America – 12%, Middle East & Africa – 8%

The key market players in this market are AECOM (US), Lennox International (US), Teledyne Technologies Incorporated (US), Thermo Fisher Scientific . (US), Abatement Technologies (US), Veolia (France), Waste Connections (US), Total S.A. (France), Covanta Holding Corporation (US), SUEZ (US), Biffa (UK), Hitachi Zosen Corporation (Japan), Carbon Clean (UK), Cypher Environmental (Canada), Svante Inc. (Canada), CarbonCure Technologies Inc. (Canada), Sunfire GmbH (Germany), BacTech Inc. (Canada), TRC Companies, Inc. (US), Arcadis N.V. (Netherlands), C-Capture (UK), Tandem Technical (Canada), Intelex (Canada), REMONDIS SE & Co. KG (Germany), Climeworks (Switzerland), Pycno (UK), Thermax Ltd. (India), Xylem , Inc. (US), Carbon Engineering (Canada), Geo-Cleanse International, Inc. (US), Ivey International Inc. (Canada), EcoMed Services (US), Skrap (India), RecyGlo (Myanmar), Saahas Zero Waste (India), Recycle Track Systems (US), GEM Enviro Management Pvt. Ltd (India), Vital Waste (India), Recycling Technologies (UK), Rekosistem (Indonesia), UnBound Chemicals (Canada), ENGIE Impact (US), IsoMetrix (US), Trade Genomics (US). These players have adopted expansions, joint ventures, mergers, acquisitions, agreements, collaborations, product launches, and partnerships as their growth strategies to meet the growing demand for environmental technology.

Research Coverage:
The report defines, segments, and projects the environmental technology market based on, component, technological solutions, application, vertical, and region.It provides detailed information regarding the major factors influencing the growth of the market, such as drivers, restraints, opportunities, and challenges.

It analyzes competitive developments, such as expansions, joint ventures, mergers, acquisitions, agreements, collaborations, product launches, and partnerships, undertaken by the players in the market.

Reasons to Buy the Report:
The report is expected to help the market leaders/new entrants in the market by providing them the closest approximations of revenue numbers of the environmental technology market and its segments.This report is also expected to help stakeholders obtain an improved understanding of the competitive landscape of the market, gain insights to improve the position of their businesses and make suitable go-to-market strategies.

It also enables stakeholders to understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.
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