According to a report,“Environmental Health And Safety Market Analysis By Product (Software, Services), By Application (Medical & Pharmaceutical Waste Management, Industrial Waste Management, Waste Water Management), By End Use, And Segment Forecasts, 2018 – 2025”, published by Grand View Research, Inc. The global environmental health and safety market is expected to reach USD 96.18 billion by 2025.The increasing number of regulations imposed by environmental protection and governmental agencies worldwide is expected to be one of the major factors driving demand during the forecast period.
Economic slowdown in several parts of the globe has led to significant corporate restructuring, plant closures, and mothballing. These business decisions are, however, made taking into consideration the various environmental challenges posed by these decisions. There is an increasing need for minimizing environmental liabilities and eliminating long-term risks.
Key Takeaways from the report:
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The industrial application segment accounted for over 55% of the overall market revenue in 2015, owing to the growing compliance requirements in key industries such as oil & gas, construction, manufacturing, and chemicals
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The demand for the service in energy & mining is expected to grow at a CAGR of over 8% from 2016 to 2025, owing to high regulatory compliance pertaining to work place safety in the industry
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The U.S. is the largest market for EHS as of 2015, and is expected to continue its dominance through the forecast period, projected to grow at a CAGR of over 8.5% from 2016 to 2025
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The growth of the oil & gas industry in the country, along with the rapid recovery of the construction and manufacturing industries, is expected to increase the demand for EHS solutions in the U.S. during the forecast period
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Key participants in the industry, such as HS&E Group, AECOM, EHS Data Ltd., and RPS Group are focusing on satisfying stakeholder expectations, preservation on brand value, and efficient EHS compliance, thereby moving towards centralized EHS management models
U.S. environmental health & safety market, by end-use, 2014 – 2025 (USD billion)
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Global environmental health and safety market, by application, 2015 (%)
There are various safety hazards in core industries such as energy & mining, construction, etc., which pose several challenges in the form of ecological contamination, injuries to personnel, and personnel deaths. For instance, the oil & gas industry globally is faced with hazards such as explosions, fires, vehicle accidents, and caught-in or caught-between accidents caused by moving equipment, high-pressure lines, and falling equipment.
As a result of the aforementioned factors, companies across core industries such as chemicals, petrochemicals, energy & mining, construction, manufacturing, healthcare, and telecommunications are being increasingly pressurized to comply with the various regulations put forth by governmental agencies to ensure environmental and worker health and safety.
Grand View Research has segmented the global environmental health and safety market on the basis of product, application, end-use and region:
Product Outlook (Revenue, USD Million, 2014 – 2025)
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EHS Software
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EHS Services
Application Outlook (Revenue, USD Million, 2014 – 2025)
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Medical & Pharmaceutical Waste Management
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Industrial Waste Management
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Waste Water Management
End Use Outlook (Revenue, USD Million, 2014 – 2025)
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Chemical & Petrochemical
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Energy & Mining
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Healthcare
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Telecom & IT
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Construction
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Manufacturing
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Others
Regional Outlook (Revenue, USD Million, 2014 – 2025)
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North America
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U.S.
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Europe
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Germany
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UK
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Asia Pacific
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China
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India
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Japan
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Central & South America
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Brazil
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Middle East & Africa
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About Grad View Research, Inc.
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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