The Land Restoration Market Is Driven By Sustainability Efforts Restoring Nature And Enhancing Ecosystems
Land Restoration Market |
Land
restoration involves restoring degraded, damaged, or destroyed land to some
degree of ecological functionality and value. It aims to reverse the effects of
ecological problems like erosion, species loss, loss of biodiversity,
desertification, and more. Land restoration techniques include forest and
habitat restoration, reforestation, re-vegetation, invasive species control,
and more. It helps prevent further land degradation and enhances ecosystems.
The global land restoration market involves various services, equipment,
technologies, and activities related to assessing land degradation and
developing restoration plans and strategies. It helps restore lost ecological
balance and supports sustaining livelihoods and ecosystem services.
The global Land Restoration Market is estimated to be valued at US$ 2.24 Bn in 2023 and is expected to
exhibit a CAGR of 9.4% over the
forecast period 2023 to 2030, as
highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends driving growth in the global land restoration market is
the increasing focus on sustainability and biodiversity conservation efforts
worldwide. There is a rising emphasis among governments, corporations, and
communities on restoring damaged ecosystems and landscapes. Various policy
initiatives and global environmental goals such as the United Nations Decade on
Ecosystem Restoration aim to substantially increase restoration of degraded and
deforested lands by 2030. Rising environmental awareness is also boosting
restoration projects. Moreover, land restoration supports mitigating climate
change by sequestering carbon from the atmosphere. It enhances ecological
resilience against climate change impacts. These factors are strengthening
investments in adopting various land restoration practices and technologies.
Porter's
Analysis
Threat of New Entrants: The threat of new entrants into the land restoration
market is relatively moderate as there is high initial capital investment for
machinery required and the existing companies have already established brand
names and goodwill.
Bargaining Power of Buyers: The bargaining power of buyers in the land
restoration market is moderate as the services offered are differentiated and
buyers cannot substitute one company's services with another easily.
Bargaining Power of Suppliers: The bargaining power of suppliers who provide
resources and materials for land restoration is low as there are many suppliers
in the market and switching between them is easy for companies.
Threat of New Substitutes: The threat of new substitutes for land restoration
services is low as there are very few substitutes that can restore land from
damage.
Competitive Rivalry: The competitive rivalry in the land restoration market is
high as all companies offer similar services and compete on the basis of price,
quality, reputation and relationships with buyers.
Key Takeaways
The Global
Land Restoration Market Size is expected to witness high growth over
the forecast period owing to increasing environmental awareness and expenditure
on preserving natural habitats and ecosystems. The global Land Restoration
Market is estimated to be valued at US$ 2.24 Bn in 2023 and is expected to
exhibit a CAGR of 9.4% over the forecast period 2023 to 2030.
North America dominates the global land restoration market currently due to
stringent environmental protection laws and presence of major players in the
region. However, Asia Pacific is expected to grow at the fastest pace during
the forecast period with increasing instances of land degradation in countries
like China and India.
Key players operating in the land restoration market are EnviroScience,
Jacobszoon Forestry, ENCAP, Polatin Ecological Services, Heartland Restoration
Services, SWCA Environmental Consultants, Kimley-Horn, Apache Ecological
Service, Ecological Restoration Inc., Integrated Environmental Restoration
Services, Envite Environment, Green Skills. Major players are focusing on
adopting advanced technologies like drones for more efficient land surveys and
developing innovative solutions to restore degraded land in shorter time
frames.
Get
more insights on this topic:
https://www.marketwebjournal.com/land-restoration-market-market-size-share-analysis-growth/
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