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AECOM Acquired URS Corporation To Increase Market Share In Environmental Consulting Market
Posted: Jan 10, 2019
The environmental consulting market size is expected to grow around $15 billion by 2022 growing at double digit compound annual growth rate (CAGR). Growth in the environmental consulting market is due to emerging economies, increasing government regulations and rising public concern about environmental degradation
Rise in specialist firms, innovative service offerings and adoption of latest technologies such as IoT are the major trends in the global environmental consulting services market.
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Merger and acquisition activity in the environmental consulting services market in the last three years has been at a medium level. A larger number of deals were carried out by small scale companies in regional markets. Leading deals have included those done by AECOM, Wood Group, Stantec, Bernhard, and ATC Group.
In October 2014, AECOM acquired URS Corporation, a US based engineering consultancy, for either US$53.991 in cash or 1.8879 shares of AECOM common stock, consolidating to a total of $6 billion. This deal increases enhances the scope for the country to increase market share. URS Corporation was established in 1904 and provides construction, engineering, and technical services globally. It also provides health and safety, pollution control, environmental management, and waste management and remediation services.
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The global environmental consulting services market is further segmented based on type of service, end users and geography.
By Type Of Services- The global environmental consulting services market is segmented into site remediation consulting services, water and waste management consulting services, environment management, compliance and due diligence and others.
Site remediation consulting services accounted for the largest segment share in the environmental consulting services market in 2017. This was mainly due to the presence of a large number of manufacturing, construction and oil and gas industries that require the services of site remediation consulting companies.
By End Users- The global environmental consulting services market is segmented into mining, manufacturing & process industries, energy & utilities, government & regulators, infrastructure & development and others.
Among these segments, mining, manufacturing & process industries segment accounted for the largest share in the global environmental consulting services market by end users.
By Geography- The global environmental consulting services market is segmented into North America, South America, Asia-Pacific, Western Europe, Eastern Europe, Middle East and Africa. Among these regions, the North American environmental consulting services market held the largest share in the global environmental consulting services market.
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