How Has The Environmental Technology Market Size Evolved Historically?
The environmental technology market has seen considerable growth due to a variety of factors.
• The market size for environmental technology has witnessed consistent growth over the past few years. From 2024 to 2025, it is predicted to increase from $565.52 billion to $586.5 billion, showing a compound annual growth rate (CAGR) of 3.7%.
Growth in the past can be credited to global environmental hurdles, the shift to renewable energy, the emergence of corporate initiatives for sustainability, management and recycling of waste, class consciousness of air quality problems and initiative to reduce carbon emissions.
What Will Be The Environmental Technology Market Size In The Future?
The environmental technology market is expected to maintain its strong growth trajectory in upcoming years.
• The market for environmental technology is projected to experience robust expansion in the upcoming years. It is forecasted to reach $780.47 billion by 2029, with a compound annual growth rate (CAGR) of 7.4%.
This escalation during the forecast period is due to the global focus on climate change, the augmenting investment in renewable energy sources, increased demand for sustainable agriculture, circular economy measures, and governmental policies and incentives. Key trends to watch out for during the forecast period are advances in renewable energy, smart grid technologies, solutions for energy storage, circular economy methods, and innovations in water and wastewater treatment.
What Are The Primary Growth Drivers In The Environmental Technology Market?
The push by the government towards sustainability and green technology is predicted to fuel the expansion of the environmental technology market in the future. These government initiatives provide a platform for individuals to voice their opinions and engage in voting on matters that impact everyone. By recycling waste, purifying water, diminishing water and air pollution, and preserving the natural environment and resources, they aid sustainability and the proliferation of green technology. For example, Strom4, a British GreenTech recruitment firm, reported in 2023 that the Australian government assigned a $740 Million Investment Fund for the progression of green and low-emission technologies. This initiative aimed to incite private sector investment corresponding to public contributions and establish Australia as a frontrunner in scalable green technologies.
What Is The Segmentation Of The Global Environmental Technology Market?
The environmental technology market covered in this report is segmented –
1) By Technology: IoT, Artificial Intelligence, Cloud Computing, Blockchain
2) By Components: Services, Solutions
3) By Application: Air And Water Pollution Monitoring, Water Purification, Crop Monitoring, Management of Carbon Footprints, Waste Management, Other Applications
4) By Vertical: Residential, Industrial Transportation And Logistics
Subsegments:
1) By IoT (Internet Of Things): Smart Sensors, Environmental Monitoring Systems, Smart Waste Management, Energy Management Systems
2) By Artificial Intelligence: Predictive Analytics, Machine Learning Applications, Natural Language Processing For Environmental Data, AI In Resource Management
3) By Cloud Computing: SaaS (Software As A Service) Solutions, PaaS (Platform As A Service) For Environmental Applications, Cloud Storage For Environmental Data, Cloud-Based Analytics Tools
4) By Blockchain: Supply Chain Management Solutions, Carbon Credit Trading Platforms, Renewable Energy Certificates, Data Integrity And Security Solution
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What Emerging Trends Are Shaping The Environmental Technology Market Landscape?
The significant players in the environmental technology market are transforming the market by engaging in strategic alliances. Such alliances allow companies to tap into each other's capabilities and resources to gain mutual advantages and prosperity. For example, Battero Tech Co. Ltd, a Chinese firm known for creating innovative battery technology, entered into a strategic partnership with Kale Environmental Technology, another China-based company renowned for developing renewable energy solutions, in October 2023. This collaboration is projected to spur innovation in energy storage and provide sustainable energy solutions.
Who Are the Key Players in the Environmental Technology Market?
Major companies operating in the environmental technology market include:
• Lennox International Inc.
• Abetment Technologies Inc.
• AECOM Technology Corporation
• Teledyne Technologies Incorporated
• Thermo Fisher Scientific Inc.
• Veolia Environnement S. A.
• Biffa plc
• Svante Inc.
• Carbon Clean Solutions Limited
• Total S. A.
• Covanta Holding Corporation
• Cypher Environmental Ltd.
• CarbonCure Technologies Inc.
• TRC Companies Inc.
• Indigo Agriculture Inc.
• Impossible Foods Inc.
• GlaxoSmithKline plc (GSK)
• ecoRobotix SA
• Centre for Process Innovation (CPI)
• Ricardo plc
• Measurabl Inc.
• Cloverly Inc.
• Sourcemap Inc.
• Johnson Matthey plc
• GridX Inc.
• Tortuga AgTech Inc.
• AIR COMPANY Corp.
• R-Zero Holdings Inc.
• UL Solutions Inc.
What are the Regional Insights into the Environmental Technology Market?
Asia-Pacific was the largest region in the environmental technology market in 2024.North America is expected to be the fastest-growing region in the forecast period. The regions covered in the environmental technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
