The global environmental testing equipment market is projected to reach 2.9 billion by 2023 from USD 2.1 billion in 2018 at a CAGR of 7.1%
NEW YORK, Feb. 7, 2019 /PRNewswire/ -- The environmental testing equipment market is projected to grow at a CAGR of 7.1% during the forecast period.
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The global environmental testing equipment market is projected to reach 2.9 billion by 2023 from USD 2.1 billion in 2018 at a CAGR of 7.1%. Growth in the environmental testing equipment market can be attributed to 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. However, high capital investments for accurate and sensitive analytical testing may restrain the market to a certain extent.
The mass spectrometers segment is expected to hold the largest market share during the forecast period.
On the basis of product, the global environmental testing equipment market has been segmented into mass spectrometers (GC-MS, LC-MS, and ICP MS), chromatography products (GC, LC), molecular spectrometry products, pH meters, TOC analyzers, dissolved oxygen meters, conductivity sensors, turbidity meters, and other products.The mass spectrometers segment is expected to hold the largest market share 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. The various technological enhancements in GC-MS systems are also supporting the adoption of MS in environmental testing.
The air testing segment is expected to grow at the highest rate during the forecast period.
On the basis of application, the environmental testing equipment market is segmented into water testing, air testing, and soil testing.The air testing segment is expected to grow at the highest rate during the forecast period.
The high growth of this segment can be attributed to factors such as increasing fatalities caused by severe air pollution levels and growing awareness regarding the hazardous effects of air pollution.
The Asia Pacific environmental testing equipment market is expected to grow at the highest rate during the forecast period.
Geographically, the environmental testing equipment market is segmented into North America, Europe, Asia Pacific (APAC), and the Rest of the World.The Asia Pacific market is expected to grow at the highest rate 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 growing investment of key players in emerging Asian countries.
Breakdown of supply-side primary interviews:
• By Company Type: Tier 1 – 55%, Tier 2 – 20%, and Tier 3 – 25%
• By Designation: C-level – 35%, Director-level – 25%, and Others – 40%
• By Region: North America - 20%, Europe – 25%, APAC – 40%, and RoW – 15%
The major players in the market include Agilent Technologies (US), Thermo Fisher Scientific (US), Waters Corporation (US), Shimadzu Corporation (Japan), Bruker (US), PerkinElmer (US), SCIEX (a subsidiary of Danaher) (US), JEOL (Japan), Analytik Jena (Germany), and Merck KGaA (Germany).
Research Coverage
This report studies the environmental testing equipment market based on product, application, and region.The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting market growth.
It analyzes the opportunities and challenges in the market and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micromarkets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to four main regions and respective countries.
Key Benefits of Buying the Report
This report focuses on various levels of analysis—industry trends, market share of top players, and company profiles, which together form basic views and analyze the competitive landscape, emerging segments of the environmental testing equipment market, and high-growth regions and their drivers, restraints, challenges, and opportunities. The report will help both established firms as well as new entrants/smaller firms to gauge the pulse of the market and garner greater market shares.
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