Environmental Testing Market Projected to Reach $12.75 Billion by 2022 | Key Players are SGS SA, Bureau Veritas SA, Intertek Group PLC, Eurofins Scientific, TÜV SÜD, AsureQuality, Microbac Laboratories, Inc.

The report "Environmental Testing Market by Sample (Wastewater/Effluent, Soil, Water, and Air), Contaminant (Microbes, Organic Compounds, Heavy Metals, Residues, and Solids), Technology (Conventional and Rapid), and Region - Global Forecast to 2022", The environmental testing market is projected to grow from USD 8.47 billion in 2017 to USD 12.75 billion by 2022, recording a compound annual growth rate (CAGR) of 7.1% during the forecast period. The major factors driving the growth of the environmental testing market include increasing regulations pertaining to environment protection, cost- & time-effective customized testing services, active participation of government and regulatory bodies to monitor environmental conditions, and privatization of environmental testing services.

The years considered for the study are as follows:

Base year – 2016
Estimated year – 2017
Projected year – 2022
Forecast period – 2017 to 2022

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The rapid technology segment is projected to be a faster-growing segment in the environmental testing market during the forecast period.

The environment testing market is segmented, on the basis of technology, into conventional and rapid. The rapid technology segment is projected to be the faster-growing segment in the environmental testing market during the forecast period. This is attributed to the low turnaround time, higher accuracy, and sensitivity compared to conventional technology.

The organic compounds segment is projected to account for the largest market share in the environmental testing market during the forecast period.

The environmental testing market is segmented, on the basis of contaminants, into microbes, organic compounds, heavy metals, residues, and solids. The organic compounds segment is projected to be a leading segment in the environmental testing market. This is attributed to the increase in the risk of health problems, owing to high levels of emissions and sustained growth in consumption, mainly of hydrocarbons.

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Asia Pacific is projected to be the fastest-growing region in the environmental testing market during the forecast period.

Asia Pacific is projected to be the fastest-growing region in the environmental testing market during the forecast period. The market in the region is driven by infrastructure development such as an increase in construction and energy-related projects, growth in awareness regarding environmental pollution, and sustainable transformation of environmental policies, which is projected to drive the demand in this region.

Major vendors in the environmental testing market include SGS SA (Switzerland), Bureau Veritas SA (France), Intertek Group PLC (UK), Eurofins Scientific (Luxembourg), TÜV SÜD (Germany), AsureQuality (New Zealand), Microbac Laboratories, Inc. (US), R J Hill Laboratories Limited (New Zealand), and ALS Limited (Australia).

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