The environmental health and safety market was valued at USD 7.3 billion in 2023 and is expected to grow at a CAGR of 6.9% to reach USD 13.5 billion by 2032.
FORT COLLINS, Colo., April 8, 2024 (Globe Newswire) —
Growing Contamination Concerns and Implementation of Control Measures to Guide EHS Policies
market size of Environmental Health and Safety (EHS) With growing awareness of sustainable practices and the urgency of achieving net-zero environmental impact to mitigate climate change, the company is poised for expansion. At the same time, rising concerns about strict government regulations regarding employee well-being, overall development, and workplace safety have led companies to actively pursue solutions to create a safe working environment, driving the growth of the EHS market. It's accelerating.
According to global trends, the growth of the EHS market is expected to be driven by increasingly stringent government regulations across the globe due to awareness of the industry's environmental impact. The EHS framework revolves around three key elements: ecological safety, employee health, and safety protocols. Notably, according to the U.S. Environmental Protection Agency (EPA), U.S. industry accounted for approximately 23% of total U.S. greenhouse gas emissions in 2021, and this number is expected to increase as production demand increases. ing.
Land, water, and air pollution caused by unchecked emissions of hazardous chemicals highlights the urgent need for strong EHS measures. For example, in the United States, environmental safety oversight is overseen by the U.S. Environmental Protection Agency, which sets strict regulations to ensure industrial emissions remain within acceptable limits and to ensure proper disposal of hazardous chemicals and industrial byproducts. Mandatory procedures. In addition, the Agency will provide sector-specific guidance and implementation support tailored to the needs of different industries.
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Segmentation overview:
The global environmental health and safety market is segmented into components, deployment, end use, and region.
Cloud implementation will take a large share in 2023
Based on deployment, the environmental health and safety market segmentation includes cloud and on-premises. Cloud accounts for a significant share in the deployment segment of the environmental health and safety market. Cloud systems do not require much physical infrastructure to implement and are cheaper to deploy than on-premises services, making them a preferred choice, especially for small and medium-sized businesses.
Energy and mining will take center stage in 2023
Based on end-use, the environmental health and safety market segmentation includes chemicals and petrochemicals, energy and mining, healthcare, IT and communications, construction, and others. Energy and mining account for a large share of the end-use segment of the market. This is because emissions and workplace accident rates are high due to the hazardous nature of the work, making it the most highly regulated sector.
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Highlights of the Environmental Health and Safety Market Report:
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North America holds a large share of the environmental safety and health market, with the United States in particular holding a large share. The country has enacted strict regulations, and growing awareness of climate change and the will to reverse climate change has led to companies investing heavily in these efforts.
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Prominent players in the Environmental Health and Safety market report include AECOM, SGS SA, RPS Group, Sphera Solutions Inc., Intelex Technologies, Tetra Tech, Cority Software Inc., VelocityEHS Holdings Inc., ProcessMAP Corporation, Jacobs .
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