Environmental Testing Market Size, Share, Growth, Trends, and Forecast - 2022

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 estimated to be valued at USD 9.03 Billion in 2017 and is projected to reach USD 12.75 Billion by 2022, at a CAGR of 7.1% from 2017. The market is driven by increasing regulations pertaining to environment protection, cost- & time-effective customized testing services, and active participation of government and regulatory bodies to monitor environmental conditions.

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The Water Testing Segment Is Projected To Record the Fastest Growth During the Forecast Period

Wastewater from various industries is channeled mainly to rivers and seas. Increasing industrialization has led to high wastewater disposal and water pollution. This has led to a surge in demand for water treatment and water testing solutions. Due to the increasing demand for water testing solutions across regions, the water testing segment is projected to record the fastest growth in the market during the forecast period.

The Rapid Technology Segment To Outsell the Conventional Technology Segment Through 2023

As the need for accurate, easy, and quick results of environmental testing solutions persist, manufacturers are increasingly investing in rapid technology. Rapid technology helps in reducing the overall testing time of laboratories and research institutes, due to which the preference for this technology remains high across regions. On account of these factors, the rapid technology segment is projected to hold the largest share in the environmental testing market during the forecast period.

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Asia Pacific To Record the Fastest Growth in the Environmental Testing Market During the Forecast Period

In parallel with the population growth in various Asia Pacific countries, the number of construction projects has increased. High number of construction projects has led to increased production of various components for residential and commercial buildings, which leads to high emission levels and disposal of wastewater. Due to these factors, Asia Pacific is projected to record the fastest growth in the market during the forecast period.

Leading players operating in the environmental testing market include Eurofins (Luxembourg), SGS (Switzerland), Intertek (UK), ALS (Australia), and Bureau Veritas (France). Key players operating in this market are adopting strategies such as expansions, joint ventures, new product launches, and acquisitions to expand their customer base.

Overall, the environmental testing market is projected to record significant growth. With the increasing number of construction projects and the imposition of government regulations about low emission levels and waste reduction, the adoption of environmental testing services is projected to remain high. These factors are expected to reflect positively on the market growth.

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