Increasing pollution from the industrial sector and growing environmental awareness are driving the United States Environmental Clean Up & Remediation Market.
According to TechSci Research report, “United States Environmental Clean Up & Remediation Market – By Region, Competition, Forecast & Opportunities, 2028”. United States Environmental Clean Up & Remediation market is growing in the upcoming year due to the increasing focus of remediation companies on land and water as a result of rising industrial waste as well as strict regulatory norms, which is anticipated to propel the United States Environment Clean Up & Remediation Market in the upcoming years. The market for environmental clean up and remediation in the United States is expected to experience healthy growth. Other important drivers of the industry over the next five years are rand an increase in pipeline leaks and mishaps. The elimination of pollutants or contamination from water and soil is known as environmental clean up and remediation. To preserve human health and to restore the environment, these waste products or harmful chemicals are eliminated. Different natural media, such as soil, sediment, groundwater, and surface water, are subjected to ecological rehabilitation.
Based on type, the market is segmented into bioremediation, pump & treat, in-situ vitrification, thermal treatment, chemical treatment, excavation, soil washing & others. In-situ vitrification has the largest share among all other segments. The usage of in-situ vitrification, a method to remove toxins from the soil with the use of electricity and without causing pollution, has increased as a result of the increased dumping of garbage into landfills. The in-situ vitrification market dominates other remediation techniques because of its capacity to remediate mixed wastes, including soils containing buried garbage or drums, dewatered sludge, mining tailings, or sediments.
Based on application, the market can be segmented into waste disposal sites, oil & gas, mining, chemical & petrochemical, manufacturing, agriculture, construction, and others. The waste disposal sites segment held the largest market share followed by the chemical & petrochemical segment. Containers and corrugated boxes, food, grass clippings, couches, laptops, tires, and refrigerators are among the items that may be disposed of at waste disposal facilities. Municipal solid waste (MSW) production reached 292.4 million tonnes, or 4.9 pounds per person per day, in 2018, according to the United States Environmental Protection Agency. The quantity of garbage being disposed of at waste disposal facilities will increase as the population rises, which will fuel demand for environmental clean up and remediation services in the US. The Western region accounted for the highest proportion of the US market for environmental clean up and remediation in 2020, and it is anticipated that it will continue to dominate the market over the forecast period.
One of the top US suppliers of industrial cleaning, specialty maintenance, and utility services, HydroChemPSC (“HPC”), was officially acquired by Clean Harbors, Inc. on October 8, 2021. HPC was acquired by Clean Harbors from a subsidiary of Littlejohn & Co., LLC for USD 1.25 billion in an all-cash deal. A mix of already available cash and money from Clean Harbors’ brand-new 2021 Incremental Term Loan financing that was finished in conjunction with the deal were used to pay for the acquisition. The $1 billion in aggregate principal amount of the 2021 incremental term loans was granted at a rate of Libor + 200 basis points, and they are due in 2028.
Additionally, the projected acquisition of HPC by Clean Harbors provides important strategic advantages, for instance:
- Appoints a leadership group with a solid track record of success that is talented and experienced
- Increases the size, scope, and capacity of the Industrial Services and Field Services companies
- Drives increasing amounts of waste into landfills, incinerators, and other waste treatment facilities operated by clean harbors.
- Strong client interactions and more than 180 integrated sites are added.
- By increased automation and hands-free technology, the safety profile of industrial services is enhanced.
- Provides significant cross-selling potential, especially in the waste and emergency response sectors.
- Identifies and seizes huge synergies in areas including customer service, transportation, branch network, asset rentals, tank and vehicle refurbishing, subcontracting, and procurement.
- In August 2021, employee-owned design company HDR Inc. acquired WRECO, a leader in environmental compliance, civil engineering, water resources planning, and geotechnical engineering. HDR Inc. specializes in engineering, architecture, environmental, and construction services.
Key market players in the United States Environmental Clean Up & Remediation Market include:
- US Ecology, Inc.
- Heritage Environmental Services, LLC.
- SUEZ North America, Inc
- ENTACT, LLC
- Terra Systems, Inc
- Veolia, North America
- BRISEA Group Inc.
- Golder Associates Inc.
- Clean Harbors Inc.
- Bechtel Corporation
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“Due to the government’s ongoing drive for strict and environment-friendly policy development and execution, the United States is anticipated to see growth in the environment clean up & remediation market during the projected period. The market is expected to develop because of the rising demand for waste management and environmental remediation from the manufacturing, chemical, oil & gas, and manufacturing industries. Major firms already present in the market are also anticipated to open up profitable chances for industry expansion. Additionally, the driving factors such as stringent regulatory norms for environment clean up, increasing pollution from the industrial sector, and growing environmental awareness is expected to boost the market growth. Therefore, these factors are expected to fuel the market growth of the United States Environmental Clean Up & Remediation market during the forecast period”, said Mr Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“United States Environmental Clean Up & Remediation Market By Medium (Soil, Surface Water & Ground Water), By Type (Bioremediation, Pump & Treat, In Situ Vitrification, Thermal Treatment, Chemical Treatment, Excavation, Soil Washing & Others), By Application (Waste Disposal Sites, Oil & Gas, Mining, Chemical & Petrochemical, Manufacturing, Agriculture, Construction and Others), By Region, Competition, Forecast & Opportunities, 2028”, has evaluated the future growth potential of United States Environmental Clean Up & Remediation Market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in the United States Environmental Clean Up & Remediation Market.