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Good Growth Opportunities in Global Environmental Testing Market 2032| Eurofins Scientific, Intertek Group plc, Bureau Veritas, ALS

02-28-2023 09:02 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: REPORTS PUBLISHER

Good Growth Opportunities in Global Environmental Testing

The environmental testing market size is on a promising trajectory towards sustainable growth, with an expected CAGR of 8.1% that will propel its revenue past the USD 13.9 billion milestone by 2027. As the industry's value is projected to reach USD 9.4 billion in 2022, it is poised to become a vital contributor in addressing environmental challenges and promoting a sustainable future.

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Environmental testing has become a crucial element in our efforts to safeguard public health and preserve the planet's natural resources. By providing critical insights into the impact of pollutants on our environment, this process has enabled us to develop effective measures to counteract the harmful effects of pollution.

The majority of companies test the quality of soil and water before making a major land and/or facility purchase. The cost of a professional water testing service can vary wildly, depending on the scope of the test and on which professional organization is providing it. Laboratories operated by government bodies or affiliated organizations, and those operated by universities, tend to charge a far lower fee than their private counterparts. For instance, the Indiana State Department of Health Laboratory, charges USD 10 for tests involving bacteria, fluoride, or nitrates.

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Opportunity: Increase in industrial activities in emerging markets
Developing regions such as Africa and Asia have experienced an increase in industrialization for the past few years. Especially Asia, China, Japan, and India have done considerable progress in industrial development. Hong Kong, Korea, and Taiwan have become major exporters of textile and other goods. In order to promote manufacturing growth, the countries across have initiated multiple campaign such as "Make in India" by Indian government and "Made in China 2025" by Chinese government. With the help of such initiatives these countries were not only able to push their industrial growth but also create awareness about the importance of industrialization for the economy among their citizens.

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Environmental testing is a scientific procedure to test and evaluate the quality of environmental particles. Several processes are included in this procedure that are performed with the help of different tools and equipment. To run any environmental testing lab effectively, it is necessary to have skilled manpower in place. The lab technicians prepare and test samples of gases, soils, water, industrial wastewater, and other materials to determine pollutant levels or identify sources of contamination. They usually specialize in either indoor lab testing work, or sample collection from the field.

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Key Market Players
The key players in this market SGS SA (Switzerland), Eurofins Scientific (Luxembourg), Intertek Group plc (UK), Bureau Veritas (France), ALS (Australia), TÜV SÜD (Germany), AsureQuality (New Zealand), Mérieux NutriSciences (France), Microbac Laboratories, Inc. (US), Envirolab Services Pty Ltd (Australia), R J Hill Laboratories Limited (New Zealand), Symbio Laboratories (Australia), Alex Stewart International (UK), EMSL Analytical, Inc. (US), and F.B.A. Laboratories Ltd (Ireland). These players in this market are focusing on increasing their presence through expansion and collaborations. These companies have a strong presence in North America, Asia Pacific and Europe. They also have infrastructure facilities along with strong laboratory networks across these regions.

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REPORTS PUBLISHER is a market research and consultative company that provides market research reports and business insights to large and small & medium enterprises. The company supports its clients to conceive business policies and accomplish sustainable growth in their particular market domain.

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