Environmental Consulting Services
Industry Profile Report
Dive Deep into the industry with a 25+ page industry report (pdf format) including the following chapters
Industry Overview Current Conditions, Industry Structure, How Firms Operate, Industry Trends, Credit Underwriting & Risks, and Industry Forecast.
Call Preparation Call Prep Questions, Industry Terms, and Weblinks.
Financial Insights Working Capital, Capital Financing, Business Valuation, and Financial Benchmarks.
Industry Profile Excerpts
Industry Overview
The 8,500 environmental consulting services firms in the US provide expert advice and assistance to other companies and organizations on environmental issues. Major services offered include environmental assessments, site remediation planning, natural resource management, and waste management consulting services. Firms may also provide evaluations of environmental studies, environmental audits, and environmental policy development services.
Dependence on Skilled Staff
Environmental consulting firms rely on highly skilled staff to provide professional services to clients.
Dependence on Government Contracts
Government contracts can account for a significant percentage of business for environmental consulting firms, and projects typically involve a highly regulated procurement process.
Industry size & Structure
The average environmental consulting firm operates out of a single location, employs around 11 workers, and generates $2.4 million in annual revenue.
- The environmental consulting services industry consists of about 8,500 firms that employ 98,000 workers and generate $20.6 billion annually.
- The industry is fragmented; the top 50 companies account for about 31% of industry revenue.
- Large firms, which include Wood Group, Arcadis US, Ramboll, and TRC Companies, may have operations in foreign countries.
Industry Forecast
Environmental Consulting Services Industry Growth
Recent Developments
Nov 12, 2024 - Environmental Consultants Optimistic
- The outlook for the global environmental and sustainability consulting industry is positive, according to the recently released Future of Consultancy survey by Environmental Analyst. After posting average revenue growth of 5.5% in 2023, survey respondents expect 2024 revenue to rise by 6.5%. Industry profit margins for 2024 are projected to increase to 7.4% over 6.2% in 2023. However, the industry is increasingly worried about headcount as the number of respondents expecting layoffs tripled for the 2024 survey compared to 2023. Overall, the survey respondents expect a 2.2% decline in their workforce. The consulting industry’s global average five-year compound annual growth rate (CAGR) is 5.9%, more than double the five-year outlook from the 2023 survey. Key growth drivers include the clean energy transition and demand for sustainability strategy services.
- More than 20% of the US population may rely on groundwater that has detectable levels of PFAS (per- and polyfluoroalkyl) substances, according to a report released in late October 2024 by the US Geological Survey (USGS). PFAS are a family of chemicals that have been used in a wide range of applications, including food box linings, non-stick cookware, and fire-fighting foams. Commonly referred to as “forever chemicals” because they are slow to break down in the environment, PFAS can have adverse health effects, according to the EPA. The USGS estimates that 71 to 95 million people in the lower 48 states who rely on groundwater may have PFAS in their drinking water supply. In addition to a scientific report, the USGS has released an online, interactive map allowing users to access probability estimates for the presence of PFAS.
- Companies that fortify their ranks with positions related to climate often are outperforming their peers, according to The Wall Street Journal. Companies are increasingly adding staff to meet their climate goals and help customers to do so, ensure compliance with environmental regulations, and shore up supply chains in the face of extreme weather events and energy shortages. Using a measurement of corporate effectiveness developed by the Drucker Institute at Claremont Graduate University and employment data provided by Revelio Labs, WSJ research found that firms with higher percentages of jobs related to climate tended to rank higher as effective organizations. Firms with the largest proportion of climate positions as a share of their overall workforces outperformed those with the smallest share. Companies with larger shares of climate jobs scored higher for customer satisfaction, innovation, social responsibility, employee engagement, and financial strength.
- In August 2024, the Biden administration moved to increase the tariff-free solar cell import volume quota from 5 gigawatts (GW) to 12.5 GW, according to Electrek. Raising the import quota for solar cell imports will help keep US solar module producers supplied while the nascent US supply base for solar cells can have more time to develop, according to the Solar Energy Industries Association. Industry observers suggest the policy change makes sense as there is virtually no current US production of solar cells, so US-based solar panel manufacturers are almost entirely dependent on imports.
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