(Health-NewsWire.Net, August 29, 2022 ) Major Revenue Growth Dynamics:
The Growth in the environmental testing equipment market is mainly driven by the rising levels of environmental pollution worldwide, increasing efforts from public/private organizations to raise awareness about environment protection, privatization of environmental testing and treatment services, and increasing funding on wastewater treatment projects/programs.
Increasing industrial activities post COVID-19, and the growing utilization of mobile & portable systems are also expected to provide a wide range of growth opportunities for players in the market. On the other hand, high capital investments for accurate and sensitive analytical testing and inadequate supporting infrastructure coupled with the shortage of skilled professionals are factors expected to limit market growth to a certain extent in the coming years.
Expected Revenue Gains
The global Environmental Testing Equipment Market is estimated to reach USD 1.6 billion by 2027 from USD 1.1 billion in 2022, at a CAGR of 7.6% during the forecast period.
Browse in-depth TOC on "Environmental Testing Equipment Market"
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The mass spectrometers segment accounted for the largest share of the environmental testing equipment market, by product, in 2021
Based on the different products employed for environmental testing, the market is segmented into mass spectrometers, chromatography products, molecular spectroscopy products, TOC analyzers, pH meters, dissolved oxygen analyzers, conductivity sensors, turbidity meters, and other products. The mass spectrometers segment is further divided into gas chromatography-mass spectrometry (GC-MS) instruments, liquid chromatography-mass spectrometry (LC-MS) instruments, and inductively coupled plasma mass spectrometry (ICP-MS) instruments. In contrast, the chromatography products segment comprises gas chromatography (GC) and liquid chromatography (LC) instruments. In 2021, the mass spectrometers segment accounted for the largest market share as MS is the most specific method for studying small and volatile molecules. Also, the various technological enhancements in GC-MS systems are supporting the adoption of MS in environmental testing.
Water quality testing to dominate the environmental testing equipment market, by application, during the forecast period
Based on application, the market is segmented into water quality testing, air quality testing, and soil quality testing. In 2021, the water quality testing application segment accounted for the largest share of the market. The large share of this segment can be attributed to the increasing industrial activities worldwide, which, in turn, has led to rising disposal levels of industrial wastewater and effluents into water bodies.
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The government agencies and municipal authorities segment accounted for the largest market share in the global environmental testing equipment market in 2021
Based on end users, the market is segmented into government agencies and municipal authorities, environmental testing laboratories, industrial facilities, commercial and residential facilities, and other end users. The government agencies and municipal authorities segment accounted for the largest market share in 2021. The large share of this segment can be attributed to active government participation in environmental testing and pollution monitoring, especially in emerging countries with alarming pollution levels.
Conventional/benchtop platforms segment accounted for the largest market share in the global environmental testing equipment market in 2021
Based on platform, the market is segmented into conventional/benchtop platforms, portable/mobile platforms, and handheld platforms. The conventional/benchtop platforms segment accounted for the largest market share in 2021. The large share of this segment can be attributed to the increasing adoption of these platforms among environmental testing laboratories & government agencies owing to their accuracy
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North America to dominate the environmental testing equipment market during the forecast period.
North America accounted for the largest share of the global market in 2021. The large share of the market in North America is attributed to factors such as the growing funding for environmental testing in the US, widespread usage of environmental testing equipment in the pharmaceutical sector, growing food safety concerns in the US, and government initiatives to improve lab infrastructure and propel fundamental scientific research in Canada.
The top players who dominated the environmental testing equipment market include Agilent Technologies Inc. (US), Thermo Fisher Scientific Inc. (US), Shimadzu Corporation (Japan), Waters Corporation (US), Bruker Corporation (US), PerkinElmer Inc. (US), Merck KGaA (Germany), Danaher Corporation (US), JEOL Ltd. (Japan), Endress+Hauser Group Services AG (Analytik Jena, Switzerland), JASCO Corporation (Japan), Teledyne Technologies Incorporated (US), AMETEK, Inc. (US), and INFICON (Switzerland), among others. The major players are focused on expanding their presence in emerging markets such as Latin America, the Middle East, and the Asia Pacific. In the Asia Pacific region, the market in China is expected to grow at the highest CAGR due to the growing focus on environmental pollution monitoring & control, especially air pollution, in the country.
Mr. Aashish Mehra