Global Bioremediation Technology & Services Market Likely to Witness Strong Growth of 8.3% in Coming Years
Bioremediation has been nature’s preferred way of restoring balance to soils and groundwater. In today’s environment, the demand for bioremediation has intensified in response to the swelling contamination from waste. A new study, titled “Bioremediation Technology & Services Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017-2025” has been publicized to the wide repository of Market Research Hub (MRH), which reveals that demand for bioremediation technology and services is likely to increase in the coming years owing to the rising awareness about the technology. Together with this, brooding water scarcity threats and government initiatives aimed at attaining environmental sustainability will enable growth in the market.
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A fact about Bioremediation is that it implicates the use of organisms to neutralize or naturally remove waste contamination. The process breaks down hazardous substances into less toxic or nontoxic substances. Therefore, demand for effective methods for wastewater treatment is one of the major factors boosting market growth. Other services are soil remediation, oilfield remediation and others. Presently, oil and gas companies are compelled to adopt bioremediation technologies and services to restore the environment to its original state after the frequent incidence of oil spills in oceans. Due to this, the global bioremediation technology and services market will exhibit healthy growth in the coming years.
According to the research major findings, the global bioremediation technology and services market pegged at US$32.2 bn in 2016. Displaying an impressive 8.3% CAGR between 2017 and 2025, the market is poised to reach US$65.7 bn by the end of 2025. Also, the market is likely to gain pace due to the safety in operation bioremediation technologies offer, besides which cost-effectiveness and high efficiency of the process will enable the market gain impetus in future.
In terms of geography, analyst predicts that North America marked dominance in the global market on the back of the presence of several companies offering bioremediation technologies and services.
In order to provide a comprehensive view of the market, the research delivers information and data analysis of the global market with respect to the segments based on technology, services, and geography. Regionally, the global market has been studied on the basis of seven major geographic regions such as Japan, MEA, Asia Pacific, Europe, Latin America, and North America. Further, the report also evaluates market performance in terms of revenue, followed by analysis of key trends, drivers, and restraints witnessed in the market.
In the final section, ‘Competitive Landscape’ section is highlighted to provide an exhaustive analysis with a dashboard view, to access the key differentiators among the competitor firms. At present, prime players functioning in the bioremediation technology & services market are Sumas Remediation Services Inc., Altogen Labs, Drylet, LLC, Xylem Inc., Sevenson, Ivey International, Inc., PROBIOSPHERE Inc., REGENESIS, Sarva Bio Remed LLC, InSitu Remediation Services Limited, Environmental Services, Inc., Aquatech International LLC Soilutions Ltd, and Others.
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