Environmental Testing Market by Sample, Contaminant, Technology and Region - Global Forecast to 2022
LONDON, Nov. 8, 2017 /PRNewswire/ --
"The environmental testing market is projected to grow at a CAGR of 7.1% during the forecast period"
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The environmental testing market is projected to reach USD 12.75 billion by 2022 from USD 9.03 billion in 2017, at a CAGR of 7.1%. The market is driven by increasing regulations pertaining to environment protection, cost- & time-effective customized testing services, and active participation of government and regulatory bodies to monitor environmental conditions. High capital investment for accurate and sensitive analytical testing is the major restraint for this market.
"Wastewater/Effluent led the market with the largest share in 2016"
Wastewater/effluent testing was the largest segment in 2016. Growing environmental concerns related to waste disposal & treatment and regulations on wastewater/effluent disposal are reasons for its dominance. The water segment is projected to grow at the highest CAGR during the forecast period due to the increase in health standards, demand for clean water, and shortage in water supply.
"Organic compounds to be the dominant contaminant segment during the forecast period"
The environmental testing market, by contaminant, was dominated by the organic compounds segment which is also projected to grow at the highest CAGR during the forecast period owing to its high level of emissions and sustained growth in consumption, mainly of hydrocarbons. The risk of health problems is most likely to increase by breathing low levels of organic compounds for prolonged periods of time. Exposure to organic compounds is also known to cause serious illnesses in humans such as cancer, kidney damage, and lung damage.
"North America led the market with the largest share in 2016"
North America was the largest environmental testing market in 2016. Several environment-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 market in the Asia Pacific region is projected to be the fastest from 2017 to 2022 and is driven by infrastructure development such as construction and energy-related projects, growing awareness regarding environmental pollution and sustainable transformation of environmental policies.
The breakdown of the primaries on the basis of company, designation, and region, conducted during the research study, is as follows:
• By Company type: Tier 1 – 50%, Tier 2 –25%, and Tier 3 – 25%
• By Designation: C-Level – 35%, D-Level– 25%, Others*-40%
• By Region: North America – 12%, Europe – 13%, Asia Pacific – 63%, and, South America-12%
*Others include sales managers, marketing managers, and product managers.
Note: Tier 1: Revenue > USD 500 million; Tier 2: USD 100 million > Revenue > USD 500 million; Tier 3: Revenue < USD 100 million
Key environmental testing players include the following:
• SGS (Switzerland)
• Eurofins (Luxembourg)
• Intertek (UK)
• Bureau Veritas (France)
• ALS (Australia)
The above-mentioned companies collectively accounted for the largest portion of the environmental testing market in 2016. Other players also have a strong presence in this market. These players are as follows:
• Mérieux (US)
• Microbac Laboratories (US)
• R J Hill Laboratories (New Zealand)
• Symbio Laboratories (Australia)
• Alex Stewart (UK)
The key players in the environmental testing market adopted acquisition as their key growth strategy to increase their market share and profits. Expansions accounted for the second-highest percentage of the total developments.
Research Coverage
The report analyzes the environmental testing market across different contaminants and regions. It aims at estimating the market size and future growth potential of this market across different segments such as sample, contaminant, technology, and region. Further, the report also includes in-depth competitive analysis of the key players in the market along with their company profiles, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help market leaders/new entrants in this market by providing them the closest approximations of the revenue numbers for the overall environmental testing market and the subsegments. This report will help stakeholders to better understand the competitor landscape, gain more insights to better position their businesses, and make suitable go-to-market strategies. The report will also help the stakeholders to understand the market and provide them information on key market drivers, restraints, challenges, and opportunities.
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