Remediation & Environmental Cleanup Services in Canada - Industry Market Research Report

Going green: Recovering oil prices will likely facilitate industry revenue growth

Remediation and environmental cleanup service companies are responsible for cleaning up toxic materials and pollutants from soil, groundwater, buildings, mines and other terrains. This industry's revenue has expanded over the five years to 2023, thanks to improving conditions in the energy and mining sectors. The industry has also benefited from steadily rising government expenditure and consistent demand from some manufacturing markets. Industry expansion was disrupted by the COVID-19 pandemic, which led to considerable volatility in downstream markets. A strong rebound in energy prices and mining activity and improving economic fundamentals have bolstered industry growth. Industry revenue is expected to grow at a CAGR of 2.9% to $2.4 billion over the five years to 2023, including an estimated 1.5% revenue increase in 2023 alone. Industry profit is also expected to remain steady as industry services remain in demand.

This industry comprises establishments that remediate and clean up contaminated buildings, mine sites, soil and ground water. The industry also encompasses companies pursuing mine reclamation activities, including demolition, soil remediation, waste water treatment, hazardous material removal, contouring land and revegetation. Industry operators also engage in the abatement of toxic materials, such as asbestos and lead.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry's key players and their market shares.