Remediation & Environmental Cleanup Services Industry Profile

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 $220 billion in revenue by 2031 with a compound annual growth rate (CAGR) of 7.8%, according to Coherent Market Insights.

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 ...