Dublin, May 04, 2021 (GLOBE NEWSWIRE) -- The "Environmental Test Equipment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The environmental testing equipment market is estimated to grow at a CAGR of 6.52% during the forecast period 2021 - 2026. Rising environmental pollution, stricter government policies to regulate emissions and pollutants, and increasing focus on better management of wastewater is expected to drive the market.
The rate of industrialization has led to an increase in pollution levels. Subsequent policy formulation by the governments has been to address the challenges of industrialization.
Adoption of advanced environment testing technologies to manage the industrial waste and carbon dioxide emission is expected to be driven by the need to meet these policy mandates. Additionally, the governments are incentivizing pollution reduction by providing tax benefits and subsidiaries to the manufacturers and industries. Further, the growing scarcity of the water is forcing governments to manage water waste more effectively, thereby accelerating the demand for environmental testing equipment.
According to the World Water Development Report, 2019 published by UN-Water over 2 billion people are experiencing high water stress, and about 4 billion people are experiencing severe water scarcity at least one month of a year.
However, the high cost associated with the accurate and sensitive analytical testing is expected to restrain the growth of this market. Lack of supporting infrastructure and shortage of skilled professionals is also likely to constrain the adoption of environmental testing equipment.
Key Market Trends
Water Testing Applications are Expected to be one of the Major Areas of Application
Environmental testing equipment is used to test the quality of water especially in cases where the water is used for consumption in any form and screen them to detect the presence of any pesticides.
The large scale of disposal of industrial waste and effluents into water bodies due to the increase in industrial activities worldwide has aggravated the problem of wastewater. According to UNESCO, over 80% of the wastewater generated by society globally flows back into the environment without being treated or reused.
Further, the water systems across the world face formidable threats with more than a billion people currently living in water-scarce regions. According to WHO half of the world population is expected to live in water stressed areas by 2025. In addition to this climate change is shifting precipitation patterns and speeding glacial melt accelerating the acute water shortages that the world may face. This further highlights the importance of analyzing and treating wastewater to make them suitable for re-use.
Water testing equipment is assessed for the presence of dangerous microbes, metals, organics, inorganics. The solutions offered by the players present in the market include E. coli & coliform detection, bioburden testing, USEPA methods for spectrophotometry, in addition to analysis of volatile & semi-volatile compounds.
North America will Continue to be the Largest Market
The factors that have led to favorable tailwinds for Environmental Testing Equipment in North America are, growing funding for environmental testing and cleanup, increasing awareness, and the existing strict regulations of the governments.
The Safe Drinking Water Act (SDWA) and the Clean Water Act (CWA) are the two most important environmental laws that govern water regulations in the United States. These empower the US Environmental Protection Agency (EPA) to set regulatory standards and approve analytical methods for testing of drinking water and wastewater discharged to surface water.
According to EPA data, due to proper implementation of regulations, there have been reductions in emissions in the recent past that have led to dramatic improvements in the quality of the air. Between 1990 and 2017, according to EPA, national concentrations of air pollutants improved 80% for lead, 77% for carbon monoxide, 88% for sulfur dioxide (1-hour), 56% for nitrogen dioxide and 22% for ozone.
The North American Region is one of the most industrialized regions of the world. Subsequently, it also has been able to develop an excellent ecosystem for industrial waste treatment to strike a balance between economics and sustainability. Ontario in Canada is the global R&D leader in water technologies. With the presence of more than 900 water industry companies is estimated that more USD 14 billion is spent on wastewater treatment research here.
The Environmental Test Equipment Market is a highly competitive market with the presence of several medium and large players in the market. The market is expected to expand on account of the regulations being introduced by the governments. This shall attract new players to provide products with the environmental application. Some of the recent development is as follows: -
July 2019 - Merieux NutriSciences, a food safety and environment testing vendor in Italy, announced the acquisition of the Italian company EcamRicert. The acquisition will help Merieux NutriSciences expand its capabilities in environmental analyses and nanotechnologies.
Feb 2019 - Industrial Physics, Inc., a test and measurement equipment pioneer, announced the acquisition of C&W Specialist Equipment Ltd., a specialist in the development and manufacture of corrosion & environmental test chambers.
Reasons to Purchase this report:
The market estimate (ME) sheet in Excel format
3 months of analyst support
Key Topics Covered:
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Levels of Environmental Pollution
4.2.2 Increasing Government Regulations For Better Treatment of Industrial Waste
4.3 Market Restraints
4.3.1 High Costs of Analytical Testing
4.4 Industry Value Chain Analysis
4.5 Industry Attractiveness - Porter's Five Force Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Market Snapshot
4.6.1 By Product
22.214.171.124 Mass Spectrometry
126.96.36.199 Molecular Spectroscopy
188.8.131.52 Other Products
5 MARKET SEGMENTATION
5.1 By Application
5.1.1 Air Testing
5.1.2 Soil Testing
5.1.3 Water Testing
5.2.1 North America
184.108.40.206 United States
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
22.214.171.124 Rest of Asia-Pacific
5.2.4 Rest of The World
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Agilent Technologies, Inc.
6.1.2 Thermo Fisher Scientific Inc.
6.1.3 Shimadzu Corporation
6.1.4 PerkinElmer, Inc.
6.1.5 Merck KGaA
6.1.6 MDS Analytical Technologies (US) Inc. ( Danaher Corporation)
6.1.7 JEOL, Ltd.
6.1.8 Analytik Jena AG ( Endress+Hauser AG)
6.1.9 Waters Corporation
6.1.10 Bruker Corporation
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/j6qmu5
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