CHICAGO, January 31, 2019 /PRNewswire/ --
According to the new market research "Environmental Testing Equipment Market by Product (Mass Spectrometers (GC-MS, LC-MS), Molecular Spectroscopy Products, Chromatography, pH Meters, TOC Analyzers), Application (Water Testing, Air Testing, Soil Testing) - Global Forecasts to 2023", published by MarketsandMarkets™, the global Environmental Testing Equipment Market is expected to reach USD 2.9 billion by 2023 from USD 2.1 billion in 2018, at a CAGR of 7.1%.
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Growth in the Environmental Testing Equipment Market is mainly driven by factors such as the rising levels of environmental pollution worldwide, increasing government regulations and initiatives for environmental protection, privatization of environmental testing services, and increasing focus on wastewater treatment.
The mass spectrometers segment is expected to account for the largest share of the products & services market in 2018
On the basis of products, the Environmental Testing Equipment Market is segmented into mass spectrometers, chromatography products, molecular spectroscopy products, TOC analyzers, pH meters, dissolved oxygen analyzers, conductivity sensors, turbidity meters, and other products. The mass spectrometers segment held the largest share of the Environmental Testing Equipment Market in 2018 and this segment is also projected to register the highest growth during the forecast period. MS is the most specific method for the study of small and volatile molecules, which is a major factor driving market growth. Also, the various technological enhancements in GC-MS systems are supporting the adoption of MS in environmental testing.
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Air testing applications are expected to grow at the highest CAGR in the global Environmental Testing Equipment Market during the forecast period
On the basis of application, the market is segmented into water testing, air testing, and soil testing. The water testing segment commanded the largest share of the market in 2018. However, the air testing market is projected to register the highest CAGR owing to the increasing fatalities caused by severe air pollution levels. Increasing fatalities caused by severe air pollution levels is a major factor driving growth in the application segment.
North America is expected to dominate the Environmental Testing Equipment Market during the forecast period
Geographically, North America is expected to dominate the global Environmental Testing Equipment Market in 2018, while the Asia Pacific region is expected to register the highest CAGR during the forecast period. The high growth in this region can be attributed to the rising outdoor air pollution levels, the availability of government funding, and stringent environmental monitoring regulations.
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The major players operating in the Environmental Testing Equipment Market include Agilent Technologies (US), Thermo Fisher Scientific (US), and Shimadzu Corporation (Japan). Other players involved in this market include Waters Corporation (US), Bruker (US), PerkinElmer (US), SCIEX (a subsidiary of Danaher) (US), JEOL (Japan), Analytik Jena (Germany), and Merck KGaA (Germany).
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