Environmental Consulting Services Market Size, Share & Industry Analysis, By Service (Investment Assessment and Auditing, Permitting and Compliance, Project and Information Management, Monitoring and Testing ), By Medium (Water Management, Waste Management), By Vertical (Energy and Utilities, Chemical and Petroleum, Manufacturing and Process Industry, Transportation and Construction Industries ) And Regional Forecast, 2024-2032

With the growing demand for sustainable development, organizations are looking to invest in research and development of energy and sustainable solutions for the longer run. Organizations are trying to optimize the use of resources while focusing on sustainable growth while conforming to environmental standards. Environmental consulting services help organizations attain sustainable development economically.

Based on the service, the market is classified into investment assessment and auditing, permitting and compliance, project and information management, and monitoring and testing. The monitoring and testing segment accounted for the major share of the market and it is anticipated that it will maintain its attractiveness during the forecast period, as it is a continuous and ongoing process. Investment assessment and auditing is the first step and with the rise in demand for environmental consulting services, this segment is likely to perform exceptionally well in the future.

Based on the medium, the global market is classified into water management and waste management. The water management segment accounted for the major share in the market. Water Management helps to tackle the ongoing worldwide deficit crisis of water and helps companies in optimizing costs incurred in accessing water for various purposes. Based on the vertical, the market is classified into energy and utility, chemical and petroleum, manufacturing and process industry, and transportation and construction industries. The energy and utility segment accounted for the major share of the market and it is anticipated that it will maintain its attractiveness during the forecast period, as it is the most capital-intensive industry and has to conform to health safety.

Awareness regarding the environmental hazards of industrialization has percolated every industry. Companies are focusing on understanding their environmental impact now and in the future, to make informed investment decisions for water and waste management. Environmental consultancies facilitate understanding the exact environmental impact of company activities. Many world forums and governments have implemented environmental laws that industries must conform to.  These regulations are the key market driver for the environmental consulting services market.

The key market restraint for the market is the high consulting fees for environmental consulting services. Also, the initial cost and the switching costs incurred by industries to shift to more environmentally friendly practices are slowing the growth of the market.

Key Market Driver -

Responsibility to reduce greenhouse emissions in order to ensure a sustainable future

Key Market Restraint -

High initial and switching cost

Key Players Covered:

Some of the major companies in the environmental consulting services market are AECOM, CH2M, Jacobs, Arcadis, Bechtel Corporation, Wood, Golder, ERM: Environmental Resources Management, Tetra Tech, Antea Group International, Stantec, Ramboll, and SLR Consulting.

Regional Analysis:

The global environmental consulting services market is studied across different regions like North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for the major share of the global market due to the shift towards digital platforms post-COVID pandemic, leading to the restructuring of organization-wide systems. The European market, being the second-largest market, is increasing due to the favorable technological advancements in the field of alternative energy and sustainable development coupled with the stringent environmental regulations of the governments of Germany, Denmark, and the Netherlands, which has propelled the demand for environmental consulting services. Denmark is the fastest-growing country in the region for the environmental consulting services market, owing to the ancient ties of the Danish community to agriculture and fisheries. Asia-Pacific is the fastest-growing region for the global environmental consulting service market, owing to the rising urbanization and industrialization in India, China, and Singapore.

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Segmentation

Key Industry Developments

• On February 3, 2021, Environmental Resources Management acquired Engineering Safety Consultants (ESC) to enhance the ability to support clients and expand.


• On October 1, 2019, Jacobs acquired a 50% share in Simetrica, to provide social value and inclusive growth using socio-economics.