NEW YORK, Aug. 1, 2016 /PRNewswire/ -- "Environmental testing market projected to grow at a CAGR of 6.9%"
The environmental testing market is projected to reach USD 11.82 billion by 2021 at a CAGR of 6.9% from 2016 to 2021. The market is driven by factors such as deteriorating environment, privatization of environmental testing services, and increasing regulations regarding environment protection. The high growth potential in emerging markets and untapped regions provides new opportunities for market players.
"Organic contaminant segment expected to be the largest contaminant type in the environmental testing market through 2021"
The organic contaminant type was the largest market in 2015. Testing for organic compounds basically includes tests of volatile organic compounds (VOCs). The risk of health problems is most likely to increase by breathing low levels of VOCs for a long period of time. Several studies have suggested that exposure to VOCs may worsen the symptoms in people who are asthmatic or are sensitive to chemicals. The effect of every chemical is different and is attributed to its toxicity. The rising concerns over health issues due to organic contaminants are expected to drive its testing services market.
"Rapid technology led the market with the largest share in 2015"
On the basis of technology, the environmental testing market was led by the rapid technology segment in 2015. The market is growing due to the requirement of quick, accurate, easy-to-use, and reduced total cost method of testing.
"North America led the market with the largest share in 2015"
North America was the largest environmental testing market in 2015. Governing organizations are present in the market and have enforced various environment protection policies. The North American environmental testing market addresses various environmental issues such as climate change, acid rain reduction, and greenhouse gas emissions. The Asia-Pacific market is projected to be the fastest-growing market during the forecast period.
The breakdown of the primaries on the basis of company, designation, and region, conducted during the research study, is as mentioned below.
By Company Type: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%
By Designation: C Level – 35%, Director Level – 25%, and Others – 40%
By Region: North America – 45%, Europe – 30%, Asia-Pacific – 20%, and RoW – 05%
Major players include:
- Eurofins Scientific S.E (Luxembourg)
- AB Sciex LLC (U.S.)
- SGS S.A. (Switzerland)
- Bureau Veritas S.A. (France)
- Agilent Technologies Inc. (U.S.)
The above-mentioned companies have collectively accounted for the largest portion of the environmental testing market in 2015. Other players also have a strong presence in this market. These include:
- Intertek Group PLC (U.K.)
- ALS Limited (U.S.),
- AssureQuality (New Zealand)
- Romer Labs (U.S.)
- R.J Hill Laboratories Ltd. (New Zealand)
Reasons to buy this report:
From an insight perspective, this research report has focused on various levels of analyses—industry analysis (industry trends), market share analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the global environmental testing market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on agricultural fumigants offered by the top players in the global market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the environmental testing market
- Market Development: Comprehensive information about lucrative emerging markets—the report analyzes the markets for environmental testing across regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global environmental testing market
- Competitive Assessment: In-depth assessment of market share, strategies, products, and manufacturing capabilities of the leading players in the global environmental testing market
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