The presence of several established and emerging companies has
rendered the vendor landscape in the global bioremediation technology
and services market highly fragmented. However, some of the prominent
players involved in the market are Altogen Labs, Aquatech
International LLC, Drylet, LLC, InSitu Remediation Services Limited,
Ivey International, Inc., PROBIOSPHERE Inc., REGENESIS, Sarva Bio
Remed, LLC, Sevenson, Environmental Services, Inc., Soilutions Ltd,
Sumas Remediation Services Inc., Xylem Inc., finds Transparency
Market Research (TMR) in a recent study. These companies are adopting
various strategies to strengthen their position, which are likely to
have a profound impact on the prevailing market dynamics.
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TMR has pegged the global bioremediation technology and services
market at US$32.2 bn in 2016. Exhibiting an impressive 8.3% CAGR
between 2017 and 2025, the market is poised to reach US$65.7 bn by
the end of 2025. Regionally, North America marked dominance in the
global market on the back of the presence of several companies
offering bioremediation technologies and services. Furthermore,
gaining strength from funding by local governments, the market in
North America is likely to remain at the fore through the forecast
period. Based on services, wastewater remediation services will
witness the highest demand. The rising decentralized approached to
treat wastewater streams is enabling growth in this segment.
The demand for bioremediation has escalated over the years in
response to the surging contamination from waste. While several
synthetic methods of treating wastewater have come into foray, the
policymakers still seek more organic ways of achieving similar
results. This has created an environment conducive to the market’s
expansion in the coming years. Bioremediation implicates the use of
organisms to neutralize or naturally remove waste contamination. The
process breaks down hazardous substances into less toxic or nontoxic
substances. Also, this is achieved in a method that does not use
chemicals, therefore, enabling waste recycling ones contaminants are
removed or neutralized.
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The demand for bioremediation technology and services is likely to
increase in the coming years in response to the rising awareness
about the technology. Coupled with this, brooding water scarcity
threats and government initiatives aimed at attaining environmental
sustainability will enable growth in the market. In addition, 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
momentum in the coming years.
On the downside, difficulties often linked to maintaining various
technical factors in bioremediation could adversely influence the
market’s prospects. Furthermore, the slower trajectory witnessed in
emerging nations is a result of inadequate awareness. This, coupled
with, high development cost make a key restraining factor, slowing
down the market’s pace of gains to an extent. Nonetheless,
stringent regulations imposed by governments to ensure environmental
protection will stoke growth in the coming years. Furthermore,
potential technological breakthroughs are likely to open immense
growth prospects for the bioremediation technology and services
market in the near future. Given the scenario, an increasing number
of oil and gas companies are compelled to adopt bioremediation
technologies and services to restore environment to its original
state after frequent incidence of oil spills in oceans. Spurred by
these factors, the global bioremediation technology and services
market will exhibit robust growth in the coming years.
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About Us
Transparency Market Research is a next-generation market intelligence
provider, offering fact-based solutions to business leaders,
consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow,
evolve, and mature. Our real-time data collection methods along with
ability to track more than one million high growth niche products are
aligned with your aims. The detailed and proprietary statistical
models used by our analysts offer insights for making right decision
in the shortest span of time. For organizations that require specific
but comprehensive information we offer customized solutions through
adhoc reports. These requests are delivered with the perfect
combination of right sense of fact-oriented problem solving
methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems
with right methodology of research is the key to help enterprises
reach right decision.
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