$26.4bn
$X.Xbn
92,507
4,905
$X.Xbn
Remediation and environmental cleanup companies have enjoyed growth in recent years. As the economy expanded, so did downstream sectors like construction and mining. Increases in the Environmental Protection Agency's (EPA) budget and demand for disaster cleanup services have helped offset the adverse effects of COVID-19 on downstream industries. Industry-wide revenue has been growing at a CAGR of 4.6% over the five years to 2023 and is expected to total $26.4 billion in 2023, when revenue will jump by an estimated 3.7%. <br />The outbreak of COVID-19 had mixed effects on remediation and environmental cleanup companies. Building remediation surged in 2020 as the low-interest rate environment led to a housing market boom. On the other hand, industrial production plummeted, and companies deferred spending on-site remediation contracts to cut costs. In 2022, these trends shifted as rising interest hammered the construction sector and building remediation demand. Demand from the mining sector increased in the past few years as favorable commodity prices ramped up domestic production.<br />In the future, remediation and environmental cleanup companies will continue to enjoy growth. Consistent growth will come from the infrastructure bill raising funding for Brownfields and Superfund programs and the Inflation Reduction Act. Large government contracts will help maintain profit levels through the end of 2028. However, the outlook for nuclear site remediation is unclear as many nuclear reactors continue requesting to decommission while the current administration seeks grants to keep reactors open. Construction markets will likely return to growth, and heightened US energy output will bolster performance. Overall, industry revenue is forecast to grow at a CAGR of 1.2% over the five years through 2028 to total $28.0 billion.
Industry revenue has grown at a CAGR of 4.6 % over the past five years, to reach an estimated $26.4bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
---|---|---|---|---|
Jacobs Engineering Group Inc. | 4,076.2 | 191.2 | 4.7 | |
Mcdermott International Inc. | 1,239.5 | 53.2 | 4.3 | |
Veolia Environnement | 1,067.4 | 100.3 | 9.4 |
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Industry revenue is measured across several distinct product and services lines, including Site remediation services, Building remediation services and Environmental emergency response services. Site remediation services is the largest segment of the Remediation & Environmental Cleanup Services in the US.
Site remediation services have endured volatility
Industry companies remediate contaminated buildings, soil and ground water; remove hazardous material; and abate toxic materials. Remediation and environmental cleanup companies also undertake mine reclamation activities including demolition, waste-water treatment and revegetation. The industry includes revenue earned through federally funded cleanup projects but excludes budget outlays to federal agencies that engage directly in remediation and environmental cleanup.
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NAICS 56291 - Remediation & Environmental Cleanup Services in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Remediation and environmental cleanup companies enjoyed private sector growth. Growth in construction and mining benefitted remediation and environmental cleanup companies.
Learn about an industry's products and services, markets and trends in international trade.
The public sector is increasingly funding remediation and environmental cleanup. The recently passed infrastructure bill and inflation reduction act will increase demand from...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Proximity to industrial producers is vital. Remediation companies establish in the Mid-Atlantic and the West because of significant mining activity in the region.
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
The willingness of remediation companies to agree to fixed-price contracts is essential. Remediation companies take on a high degree of financial and operating risk when agre...
Learn about the performance of the top companies in the industry.
Only two companies have amassed more than 5.0% of the market. Jacobs and Mcdermott have accumulated a high percentage of the market by offering various services.
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Remediation and environmental cleanup companies face a high degree of regulation. Federal and sometimes state licensing is required to operate.
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Profit for remediation companies is rising. Improvements in more accurately calculating the costs of a project increased profit in recent years.
Including values and annual change:
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Key data sources in the US include:
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The market size of the Remediation & Environmental Cleanup Services in the US industry in United States is $26.4bn in 2024.
There are 4,905 businesses in the Remediation & Environmental Cleanup Services in the US industry in United States, which has grown at a CAGR of 4.1 % between 2019 and 2024.
The market size of the Remediation & Environmental Cleanup Services in the US industry in United States has been growing at a CAGR of 4.6 % between 2019 and 2024.
Over the next five years, the Remediation & Environmental Cleanup Services in the US industry in United States is expected to grow.
The biggest companies operating in the Remediation & Environmental Cleanup Services market in United States are Jacobs Engineering Group Inc., Mcdermott International Inc. and Veolia Environnement
Abating and removing asbestos and Remediating and cleaning up buildings are part of the Remediation & Environmental Cleanup Services in the US industry.
The company holding the most market share in United States is Jacobs Engineering Group Inc..
The level of competition is high and steady in the Remediation & Environmental Cleanup Services in the US industry in United States.