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Environmental Testing Equipment Global Market Report 2023
Major players in the environmental testing equipment market are Agilent Technologies Inc., Thermo Fisher Scientific Inc., Shimadzu Corporation, Waters Corporation, Bruker Corporation, PerkinElmer Inc.
New York, March 08, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Environmental Testing Equipment Global Market Report 2023" - https://www.reportlinker.com/p06318512/?utm_source=GNW
, Merck KGaA, Teledyne Technologies Incorporated, INFICON, JEOL Ltd., SCIEX, Extech Instruments, Amphenol, and PathSensors, Inc.
The global environmental testing equipment market grew from $1.04 billion in 2022 to $1.14 billion in 2023 at a compound annual growth rate (CAGR) of 9.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The environmental testing equipment market is expected to grow to $1.63 billion in 2027 at a CAGR of 9.4%.
The environmental testing equipment market consists of sales of sample prep equipment, temperature chambers, temperature chambers, biofuel analyzers, balances, evaporators, stability chambers, particle counters, refractometers, GC systems, autosamplers, and HPLC systems.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The environmental testing equipment refer to various products and equipment primarily used to evaluate the dependability of multiple products and components under continuous exposure to a variety of environmental conditions. The purpose of the equipment is to detect and identify multiple contaminants that may impact the quality of the air, water, and soil.
North America was the largest region in the environmental testing equipment market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of environmental testing equipment include chromatography products, mass spectrometers, molecular spectroscopy instruments, total organic carbon (TOC) analysers, dissolved oxygen analysers, 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 & municipal authorities, environmental testing laboratories, industrial facilities, commercial & residential facilities.
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 has 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 activitiesFor instance, according to the report published by Eurostat, a Luxembourg-based statistical office of the European Union, total general government spending on environmental protection in the EU in 2020 amounted to 0.9% of GDP, within this, 0.4% of GDP was spent on waste management,0.2% on waste water management, and 0.1% on each of the COFOG groups for pollution abatement, preservation of biodiversity and landscape and environmental management. Therefore, the rising level of environmental pollution is expected to boost demand for environmental testing equipment during the forecast period.
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 June 2020, Agilent Technologies (US) introduced two new mass spectrometry (MS) products, the Agilent 6470B Triple Quadrupole LC/MS (6470 LC/TQ) system, and the Agilent Rapid Fire 400 system, to provide customers with greater sample throughput and reduced time to obtain findings by delivering even faster detection of target chemicals.
In August 2020, Smiths Detection, a UK-based detection, and screening technologies company, acquired PathSensors for an undisclosed amount.Through this acquisition, Smiths Detection is focused on broadening its sensing capabilities across the CBRNE (chemical, biological, radiological, nuclear, and explosive) spectrum, and expanding its business across the globe.
PathSensors is a USA-based provider of biotechnology solutions and environmental testing equipment’s.
The countries covered in the environmental testing equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The environmental testing equipment market research report is one of a series of new reports that provides environmental testing equipment market statistics, including environmental testing equipment industry global market size, regional shares, competitors with an environmental testing equipment market share, detailed environmental testing equipment market segments, market trends and opportunities, and any further data you may need to thrive in the environmental testing equipment industry. This environmental testing equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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