Environment Health & Safety (EHS) Market - Making World A Better Place

Posted On Nov, 30, 2020

Environment, Health & Safety - individually, these three words drive a large lot of attention without any special mention due to is importance. We can rarely fathom what happens if all the three words come together.

When all the three words come together, it forms a mention to a special discipline which points towards the urgent humanitarian needs that are important to be addressed to satisfy the norms for safety at work. The rising incidences of injuries to workers, personnel deaths, and environmental contamination in the form of oil spills, water pollution, and air pollution have driven governments across the globe to take stringent measures towards ensuring ecological and worker safety in core industries such as manufacturing, construction, oil & gas, power, transportation, and mining, among others. These concerns have given a boost to the demand in the market, locking in unexpected growth such that, the Global Environment Health & Safety Market was valued at USD 51.79 billion in 2019 and is expected to register a CAGR of 6.9% in the upcoming years. Also, it is eyeing to reach USD 88.39 billion by 2027, according to a new report by Grand View Research, Inc.

Environment Health & Safey market

2 Cents On The Discipline

EHS is the disciplineand specialty that studies and implements practical aspects of environmental protection and safety at work. In simple terms it is what organizations must do to make sure that their activities do not cause harm to anyone. This forms a step toward maintaining the health & safety norms in the work environment.

From a safety standpoint, it involves identification and alleviation of workplace hazards along with the reduction of harmful procedures and training of personnel in handling the emergency situations.

From a health standpoint, better health standards include the development of procedures, systematic high quality, environment friendly working practices which prevent health degradation and support healthy lifestyle.

Environmental standards consists of development of environment-friendly procedures and all best practices to comply environmental regulations such as managing waste or air emissions all the way to helping site's reduce the company's carbon footprint.

Market Factors

Several factors are responsible of boosting the market growth, but some others are also the reason for being inhibitive towards the market growth.

  • Growing environmental concern worldwide has given a shot in the arm to the environmental compliance regulations in several countries. These regulations had a positive effect on EHS market.

  • Rising incidence of injuries due to industrial accidents in the hazardous industries like chemical, iron & steel, nuclear facilities and Oil and gas plants among others, is going to further the need in the market.

  • Increasing demand for the EHS Software in the market due to the presence of numerous IT companies, in addition to the increased investment in the same by foreign investors.

  • The presence of EHS service providers such as AECOM Technology Corporation, Tetra Tech, Enablon, and Velocity EHS is likely to aid in creating awareness resulting in market growth.

  • Rising incidences of pandemics like COVID-19 drives the need of increased measures to secure health of the working populations. These concerns drive the demand along with the stringent government regulations to ensure good health environment, especially in populous countries like China and India among others.

  • Although, the awareness is growing in the market, it is still in the nascent stage and will take time. Therefore, due to less awareness in the mean time is going to be an inhibiting factor for the growth.

These are some of the most important factors affecting the market in its path of growth. Glancing over these factors gives a good insight in the developments of the market. However, to understand the whole picture it is also important to gauge the regional markets and its advancements along with the industrial developments.

Region Specific Insights

The European Agency for Safety and Health at Work (EU-OSHA) and the Environment Agency (EA) formulated the laws concerning health, safety, consumer protection, and the protection of the environment. Such directives allow the adoption of measures for the improvement of the free movement of goods. These directives and regulations drive the growth of EHS in European region. Therefore, Europe is expected to grow at CAGR of 4.9% from 2020 to 2027 in terms of revenue.

China is facing rising pressures from society to develop healthy work environment and this in turn has been one of the most important reason to drive the demand in the EHS market.

Brazil is witnessing criticism in the way it has handled the environmental concerns. Now, companies in Brazil are focused on reviewing the adequacy of their Environmental Management Systems (EMSs), including the strategies, procedures, and organizational structures to meet their objectives. These reviews are conducted voluntarily to avoid significant liabilities and reputation problems, ensure environmental compliance, and secure competitive advantage. The rising adoption of EMSs by various Brazilian companies is likely to boost EHS market growth in the country.

The global market is dominated by the European region, followed by North America and Asia Pacific. The North American region is projected to witness the fastest growth during the forecast period, owing to the high growth of key end-use industries, such as oil & gas, construction, and telecom, among others.

Emerging regions such as Asia Pacific and Middle East & Africa offer huge growth potential for the EHS market over the coming years. In addition, the shifting of production facilities of major companies in the U.S. and Europe to Asia Pacific, for capitalizing on low production costs and high demand, is expected to increase the potential for EHS solutions in the region.

Competitive Insights

Major international player along with small and medium regional players are all part of the EHS Market.Key players such as AECOM Corporation and Enablon have collaborated on numerous projects to provide both services and software to their clients. The companies operate in various locations globally and carry out distribution via several sales locations across the areas of operation, along with third-party distribution agencies boosting the sales network.

Recent Developments

  • Los Angeles-based construction and engineering giant AECOM is in talks with Canadian firm WSP Global Inc. about a possible deal. This deal could help the two firms - which both operate across hundreds of local offices mainly concentrated in North America - save on costs, consolidate real estate, streamline procurement and system investments and help meet AECOM's "very aggressive" F2021 EBITDA guidance

  • Wolters Kluwer Legal & Regulatory announced that it has signed an agreement to acquire CGE Risk Management Solutions B.V. (CGE), a leading provider of risk management software, including the industry-standard BowTieXP solution. The acquisition will extend Wolters Kluwer’s presence in the growing operational risk management software market.

  • Wolters Kluwer after buying Enablon, completes the acquisition of eVision. By putting together eVision And Enablon, Wolters Kluwer Reshapes Competitive Dynamics.

key  In-depth report on global environmental health and safety market by Grand View Research:

https://www.grandviewresearch.com/industry-analysis/environmental-health-and-safety-market

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