Remediation & Environmental Cleanup Services in Canada Industry Market Research Report from IBISWorld Has Been Updated

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The industry will return to growth in the coming years as industrial activity picks up

New York, NY (PRWEB) April 29, 2014

Immense volatility in downstream industrial demand has contrasted relatively stable funding from federal and provincial governments in recent years, ultimately causing the Remediation and Environmental Cleanup Services industry to slightly contract from 2009 to 2014. Industry operators primarily provide site and building remediation services and environmental response services to contaminated buildings, mine sites, soil and ground water. Consequently, in addition to funding provided by the federal and provincial governments, industry operators obtain a substantial portion of their revenue from the industrial sector, particularly construction, mining and manufacturing companies. While industrial activity has improved sharply from 2009, capacity utilization has yet to exceed prerecessionary levels. This trend largely explains the anticipated annualized decline in industry revenue over the five-year period.

Currently, the federal and provincial governments are anticipated to account for a significant portion of total industry revenue. A number of federal government agencies, such as Environment Canada and Public Works and Government Services Canada, fund and coordinate remediation projects. Moreover, these agencies also maintain databases of contaminated sites and follow regular cleanup schedules. Consequently, steady increases in government funding kept industry demand afloat in the beginning of the five-year period when industrial activity sank quickly. Yet, this beneficial role provided by the public sector is anticipated to reverse in 2014, as the tempered expected increase in government funding primarily explains the subdued rise in industry revenue during the year.

The Remediation and Environmental Cleanup Services industry operates with a moderate level of market share concentration. Over the five years to 2019, industry revenue is forecast to increase at an annualized rate. Moderate increases in both industrial activity and government expenditure and investment primarily explain this trend. Moreover, recent increases in government funding, both in the form of capital expenditure on remediation-related equipment and operational expenditure on labour-intensive services, are anticipated to provide an incentive for new entrants over the five-year period. Furthermore, industry operators are expected to leverage technological investments made in recent years, reducing the industry's reliance on labour to a certain degree and expanding the industry's average profit margin in the process.

For more information, visit IBISWorld’s Remediation & Environmental Cleanup Services in Canada industry report page.

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IBISWorld industry Report Key Topics

The Remediation & Environmental Cleanup Services industry remediates and cleans up contaminated buildings, mine sites, soil and ground water. Industry firms also undertake soil remediation, wastewater treatment, hazardous material removal and abatement of toxic materials, such as asbestos and lead.

Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
Globalization & Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
Major Companies
Operating Conditions
Capital Intensity
Key Statistics
Industry Data
Annual Change
Key Ratios

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