Remediation & Environmental Cleanup Services
Description
Companies in this industry provide remediation services for contaminated buildings, mine sites, soil, or groundwater, as well as mine reclamation and asbestos and other toxic material abatement. Major companies in this industry include Azuria and Clean Harbors (both based in the US), and Environmental Resources Management (UK). Other companies include the remediation divisions of large environmental consulting firms, such as Tetra Tech and Veolia Environmental Services North America, and divisions of engineering and construction firms, such as Bechtel and Parsons.
Worldwide, the remediation and cleanup services industry is expected to cross about $40 billion in revenue by 2034 with a compound annual growth rate (CAGR) of 6.45%, according to Precedence Research.
The US remediation and environmental cleanup services industry includes about 4,800 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $16 billion.
Environmental consulting, which includes site remediation, is covered in a separate industry profile. Waste collection is covered in the Waste Management Services industry profile.
COMPETITIVE LANDSCAPE
Demand is driven by the needs of businesses and government agencies to comply with environmental cleanup laws. The profitability of an individual company depends on its ability to accurately predict cleanup costs and to secure contracts with large organizations such as the US government. Large firms have the advantage of providing a wide range of environmental expertise and can thus offer "one-stop shopping" for clients. Small firms can compete by specializing in regional markets or particular areas of expertise. The US industry is fragmented: the 50 largest firms account for about 40% of industry revenue.
PRODUCTS, OPERATIONS & TECHNOLOGY
Major remediation includes site remediation cleanup (about 50%) of revenue, followed by building remediation and asbestos contamination services (about 45%). Remediation also involves demolition, land contouring, revegetation, wastewater treatment, oil spill cleanup, and lead paint and other toxic material removal. Other services include nonhazardous waste collection, recyclable material recovery, septic tank maintenance, and environmental emergency response.
Remediation operations involve assessing the polluted site, including the site size, characteristics, and contaminants. Assessment also involves estimating costs and cleanup time, as well as determining which remediation technology is most appropriate. Companies also must consider local, state, and federal regulations and environmental and worker risks in the site cleanup. Remediation projects may be small, such as an oil spill on a local highway, or large, such as cleanup of an oil spill in a major body of water - the BP Gulf of Mexico oil spill in 2010, for example.
Remediation services companies often clean up polluted sites intended for redevelopment, known as brownfield sites. Sites also may be returned to their natural state. Superfund sites, where companies have disposed of hazardous waste, are major industry projects. The EPA coordinates and oversees cleanup of Superfund sites.
Worldwide, the remediation and cleanup services industry is expected to cross about $40 billion in revenue by 2034 with a compound annual growth rate (CAGR) of 6.45%, according to Precedence Research.
The US remediation and environmental cleanup services industry includes about 4,800 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $16 billion.
Environmental consulting, which includes site remediation, is covered in a separate industry profile. Waste collection is covered in the Waste Management Services industry profile.
COMPETITIVE LANDSCAPE
Demand is driven by the needs of businesses and government agencies to comply with environmental cleanup laws. The profitability of an individual company depends on its ability to accurately predict cleanup costs and to secure contracts with large organizations such as the US government. Large firms have the advantage of providing a wide range of environmental expertise and can thus offer "one-stop shopping" for clients. Small firms can compete by specializing in regional markets or particular areas of expertise. The US industry is fragmented: the 50 largest firms account for about 40% of industry revenue.
PRODUCTS, OPERATIONS & TECHNOLOGY
Major remediation includes site remediation cleanup (about 50%) of revenue, followed by building remediation and asbestos contamination services (about 45%). Remediation also involves demolition, land contouring, revegetation, wastewater treatment, oil spill cleanup, and lead paint and other toxic material removal. Other services include nonhazardous waste collection, recyclable material recovery, septic tank maintenance, and environmental emergency response.
Remediation operations involve assessing the polluted site, including the site size, characteristics, and contaminants. Assessment also involves estimating costs and cleanup time, as well as determining which remediation technology is most appropriate. Companies also must consider local, state, and federal regulations and environmental and worker risks in the site cleanup. Remediation projects may be small, such as an oil spill on a local highway, or large, such as cleanup of an oil spill in a major body of water - the BP Gulf of Mexico oil spill in 2010, for example.
Remediation services companies often clean up polluted sites intended for redevelopment, known as brownfield sites. Sites also may be returned to their natural state. Superfund sites, where companies have disposed of hazardous waste, are major industry projects. The EPA coordinates and oversees cleanup of Superfund sites.
Table of Contents
- Industry Overview
- Quarterly Industry Update
- Business Challenges
- Business Trends
- Industry Opportunities
- Call Preparation Questions
- Financial Information
- Industry Forecast
- Web Links and Acronyms
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