Rising Awareness in Industries Regarding Environmental Impact Boosts Environmental Consulting Service Market Growth
According to our latest market study on "Environmental Consulting Service Market Size and Forecast (2021–2031), Global and Regional Share, Trend, and Growth Opportunity Analysis — by Service Type, Media Type, and Vertical," the environmental consulting service market was valued at US$ 43.04 billion in 2023 and is anticipated to reach US$ 77.35 billion by 2031; it is estimated to record a CAGR of 7.6% from 2023 to 2031. The report includes growth prospects in light of current environmental consulting service market trends and driving factors influencing the market growth.
Oil & gas, petroleum, transportation, and construction industries require expert guidance to navigate environmental challenges, minimize ecological footprints, and implement sustainable practices, which can be met by adopting environmental consulting services. The oil & gas sector is among the largest contributors to global greenhouse gas emissions and environmental degradation. To overcome such challenges, awareness about climate change and sustainability is rising, encouraging oil and gas producers to implement a series of cost-effective and ready-to-implement measures. This promotes greener practices across the sector. For instance, oil and gas operations account for ~15% of total energy-related emissions across the globe or 5.1 billion metric ton of greenhouse gas emissions. By the end of 2030, the emissions intensity of these operations will decrease by 50%, as per the International Energy Agency's Net Zero Emissions by 2050 Scenario. This leads to a 60% decrease in emissions from oil and gas operations by 2030, including a drop in oil and gas consumption.
Environmental Consulting Service Market Analysis – by Geography, 2023
Environmental Consulting Service Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Service Type (Investment Assessment and Auditing, Permitting and Compliance, Project and Information Management, Monitoring and Testing, and Others), Media Type (Water Management, Waste Management, and Others), Vertical (Energy and Utilities, Chemical and Petroleum, Manufacturing and Process Industries, Transportation and Construction Industries, and Others), and Geography
Environmental Consulting Service Market Research Report 2031
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Source: The Insight Partners Analysis
The transportation sector is considered among the largest contributors to CO2 emissions worldwide, especially from automobiles, aviation, and shipping industries. This sector is witnessing a rise in environmental awareness in order to meet decarbonization goals and a rise in green mobility solutions adoption. Governments of various countries across the globe are taking measures that encourage automakers and transportation companies to reduce emissions by implementing strict fuel efficiency standards as well as promoting the use of electric vehicles (EVs). As a result, several companies are taking initiatives to become net zero. For instance, in December 2023, Hydro and Volvo Group announced a strategic partnership to enable the global transport manufacturer to reach its 2040 target of delivering net zero-emission vehicles. These two companies also pledged to support their goals for zero-emission value chains. These companies are becoming more aware of their environmental impact and focusing on reducing tailpipe emissions by adopting EV technology and investing in charging infrastructure.
The construction industry is becoming increasingly aware of its environmental footprint, particularly regarding resource consumption, waste generation, and carbon emissions from buildings and infrastructure projects. With rapid urbanization, there is an increasing focus on sustainable building practices to ensure that construction projects are resource-efficient and environmentally friendly. The utilization of recycled materials, prefabrication, and modular construction is gaining popularity across the globe. Construction companies are focusing on using green building materials, energy-efficient solutions, and sustainable architecture to meet certification requirements, such as LEED.
The demand for environmental consulting services is increasing as businesses operating in the abovementioned industries seek expertise in regulatory compliance, sustainability implementation, and climate change mitigation. Environmental consultants are increasingly crucial for industries aiming to transition to greener practices, reduce carbon footprints, and ensure long-term viability in a rapidly evolving environmental landscape. Thus, the rising awareness in industries regarding environmental impact fuels the environmental consulting service market growth.
The scope of the environmental consulting service market report focuses on North America (US, Canada, and Mexico) Europe (the UK, Germany, France, Italy, Russia, and the Rest of Europe), Asia Pacific (South Korea, China, India, Japan, Australia, and the Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America). In North America, the US held the largest environmental consulting service market share in 2023. The US has a vast range of industries, including construction, oil & gas, automotive, and pharmaceuticals. The government in the US is focused on sustainable building standards and reducing environmental impact in the construction industry. For instance, one of the most well-known green building grading systems in the US is LEED, which was created by the US Green Building Council (USGBC). It offers a thorough framework for creating, erecting, running, and preserving sustainable building requirements. To promote ecologically friendly building practices, LEED certification assesses numerous factors, such as indoor air quality, water conservation, energy efficiency, and sustainable materials. Similar to the LEED rating system for buildings, the Institute for Sustainable Infrastructure (ISI) developed EnvisionTM, a sustainability framework and grading system that can be applied to all types of civil infrastructure. Environmental consultants help implement such green building certifications and standards. Therefore, the demand for environmental consulting services is increasing in the US, which is likely to have a significant impact on the environmental consulting service market forecast in the next few years.
In APAC, China held the largest environmental consulting service market share in 2023. China houses numerous industries, including construction, manufacturing, and energy & power, among others. The Government of China is highly focused on the development of its infrastructure and has taken various measures to support the development of infrastructure. For instance, in September 2023, SUEZ signed two new contracts for water and waste management projects to further support China in its ecological transition. This has encouraged SUEZ and Chongqing Water Group (CWG)1 to expand their collaboration by jointly investing over US$ 160 million (RMB 1.25 billion) in the building and operation of a water treatment plant. This investment will help enhance the resilience of the municipality’s water supply system and contribute to securing safe and reliable water services in the long term. The rise in infrastructural projects will help boost the deployment of water and waste management systems, thereby bolstering the environmental consulting services market in the country.
AECOM Inc.; Jacobs Engineering Group Inc.; Arcadis N.V.; Bechtel Corporation; WSP Global Inc.; ERM Group, Inc.; Tetra Tech Inc.; ANTEA GROUP; Stantec Inc.; Ramboll Group; and SLR Consulting are among the key players profiled in the environmental consulting service market report. Several other major players were also studied and analyzed in the report to get a holistic view of the market and its ecosystem. The market analysis provides detailed market insights, which help the key players strategize their growth.
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