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Water Quality Testing: Importance and Benefits
According to a new market research report titled, ‘Water Quality Testing Market by Offering, Test Type (Physical Test, Chemical Test), Device Type, Product Type (pH Meter, TOC Analyzer), Sector (Laboratory, Government, Environmental Institutes, Industrial Sector)—Global Forecast to 2030,’ the water quality testing market is projected to reach $5.1 billion by 2030, at a CAGR of 6.4% during the forecast period of 2023 to 2030.The main goal of testing water quality is to protect humans and the ecosystem from harmful and toxic elements found in water. Water testing facilities use various processes (e.g., physical, chemical, and biological) to test industrial and municipal wastewater, identify contaminants, and analyse the polluted water. The test helps ensure that the water used in various sectors is safe.
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In recent years, the rapid population growth and urbanization, the growing emphasis on water quality and public health, the increasing prevalence of water-borne diseases, the increase in industrial demand, and stringent governmental regulations on treating wastewater have boosted the demand for water quality testing equipment.
In this market study, all recent dynamics associated with water quality testing were thoroughly analyzed to precisely estimate the future of the water quality testing market. This study also includes profiling key water quality testing stakeholders and segmenting them based on their market standings.
Based on offering, in 2023, the solutions segment is expected to account for the larger share of the water quality testing market. The large market share of this segment is attributed to the growing adoption of innovative & advanced solutions and high investments in the R&D of water testing equipment. This segment is also projected to register the highest CAGR during the forecast period.
Based on test type, in 2023, the physical test segment is expected to account for the largest share of the water quality testing market. The large market share of this segment is attributed to the increasing adoption of advanced technologies that mainly focus on developing physical testing kits. However, the chemical test segment is projected to register the highest CAGR during the forecast period.
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Based on device type, in 2023, the portable device segment is expected to account for the largest share of the water quality testing market. The large market share of this segment is attributed to the increasing demand for portable water testing equipment that can be carried out in the field or in a temporary laboratory to analyze physical, chemical, and microbiological contaminants. This segment is also projected to register the highest CAGR during the forecast period.
Based on product type, in 2023, the pH meter segment is expected to account for the largest share of the water quality testing market. The large market share of this segment is attributed to the increasing adoption of pH meters in various industrial sectors and the rising concerns about the adverse effects of acidic or alkaline water in industrial settings. However, the TOC analyzer segment is projected to register the highest CAGR during the forecast period.
Based on sector, in 2023, the industrial sector segment is expected to account for the largest share of the Water quality testing market. The large market share of this segment is attributed to increasing industrialization and urbanization, declining freshwater resources, and a rising focus on water quality and public health. This segment is also projected to register the highest CAGR during the forecast period.
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Based on geography, in 2023, Asia-Pacific is expected to account for the largest share of the global water quality testing market. Asia-Pacific’s significant market share can be attributed to various factors, including the increasing environmental deterioration, declining availability of clean water, rising public-sector investment in water infrastructure, and growing research and development expenditures. This market is also projected to register the highest CAGR during the forecast period.
The key players operating in the water quality testing market are Horiba, Ltd. (Japan), Mettler-Toledo International, Inc. (U.S.), Shimadzu Corporation (Japan), Thermo Fisher Scientific, Inc. (U.S.), Tintometer GmbH (Germany), Bureau Veritas (France), Neogen Corporation (U.S.), ALS Limited (Australia), LaMotte Company (U.S.), SGS Société Générale de Surveillance SA (France), Eurofins Scientific SE (Luxembourg), Intertek Group plc (U.K.), Chemetrics, Inc. (U.S.), Geotech Environmental Equipment Inc. (U.S.), Agilent Technologies, Inc. (U.S.), and Applied Membranes, Inc. (U.S.).
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/water-quality-testing-market-5501?utm_source=blogs&utm_medium=social&utm_campaign=product&utm_content=21-11-2023
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