Press release
Environmental Testing Equipment Market Report 2024: Strategies And Recent Developments
Environmental Testing Equipment Market
The Business Research Company offers in-depth market insights through Environmental Testing Equipment Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The environmental testing equipment market size has grown strongly in recent years. It will grow from $1.15 billion in 2023 to $1.25 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to regulatory compliance, industrialization and urbanization, pollution control, occupational safety, environmental awareness.
The environmental testing equipment market size is expected to see strong growth in the next few years. It will grow to $1.75 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to emerging contaminants, infrastructure development, land use and land cover changes, climate change monitoring, public health preparedness. Major trends in the forecast period include iot integration, portable and field-deployable devices, data visualization and big data analytics, smart sensors and wearables, high-resolution remote sensing.
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Market Segmentation:
The main types of environmental testing equipment include chromatography products, mass spectrometers, molecular spectroscopy instruments, total organic carbon (TOC) analyzers, dissolved oxygen analyzers, conductivity sensors, turbidity meters, and pH Meters. Chromatography products refer to electronic systems designed for the separation of components or solutes of a mixture based on relative amounts of each solute between a moving liquid stream. They are used in water, air, and soil testing by government agencies and municipal authorities, environmental testing laboratories, industrial facilities, commercial and residential facilities.
Major Driver - Rising Level Of Environmental Pollution To Boost Environmental Testing Equipment Market
Rising levels of environmental pollution worldwide significantly contribute to the growth of the environmental testing equipment market. Rapid growth in industrialization and urbanization, wildfires, transportation, construction, and demonization have contributed to rising levels of environmental pollution across the globe. Governments across the globe are investing in environmental testing equipment to constantly monitor changes in air, water, and soil pollution and implement innovative policies to tackle challenges based on inputs from testing activities. For instance, according to the report published by Eurostat, a Luxembourg-based statistical office of the European Union, total general government expenditure on environmental protection was around $125.84 billion (€119 billion), which accounted for 0.8% of the EU's Gross Domestic Product (GDP). Therefore, the rising level of environmental pollution is expected to boost demand for environmental testing equipment during the forecast period.
Competitive Landscape:
Major companies operating in the environmental testing equipment market include Agilent Technologies Inc., Thermo Fisher Scientific Inc., Shimadzu Corporation, Waters Corporation, Bruker Corporation, PerkinElmer Inc., Merck KGaA, Danaher Corporation, JEOL Ltd., Endress+Hauser Group Services AG, JASCO Corporation, Teledyne Technologies Incorporated, AMETEK Inc., MDS Analytical Technologies Inc., Analytik Jena AG, SCIEX LLC, Extech Instruments Corp., Amphenol Corporation, PathSensors Inc., Alpha Analytical Inc., American Environmental Testing Laboratory LLC, Eurofins Scientific SE, EMSL Analytical Inc., Hydrologic Associates USA Inc., Intertek Group plc, Microbac Laboratories Inc., Pace Analytical Services LLC, Thermotron Industries Inc., Cincinnati Sub-Zero Products LLC, TestEquity LLC, Weiss Technik North America Inc., Russells Technical Products Inc.
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Top Trend - Technological Advancement Drives Innovation In The Environmental Testing Equipment Market
Technological advancement is the key trend gaining popularity in the environmental testing equipment market. Major companies operating in the environmental testing equipment market focus on providing technologically advanced solutions to meet the end-customer demand and strengthen their market position across the globe. For instance, in February 2023, Thermo Fisher Scientific, a US-based biotechnology company, introduced two new wet chemistry analyzers, called Thermo Fisher Scientific's Aqua Master discrete analyzers and The Gallery Aqua Master discrete analyzers. This analyzer can be used for a variety of applications, such as soil analysis, drinking water analysis, and wastewater and sewage water analysis.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Environmental Testing Equipment Market Characteristics
3. Environmental Testing Equipment Market Trends And Strategies
4. Environmental Testing Equipment Market - Macro Economic Scenario
5. Environmental Testing Equipment Market Size And Growth
…..
27. Environmental Testing Equipment Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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