Valued to be $4.3 Billion by 2026, Water Testing and Analysis Slated for Robust Growth Worldwide

SAN FRANCISCO, Feb. 23, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Water Testing and Analysis - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

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Edition: 7; Released: February 2022
Executive Pool: 2884
Companies: 111 - Players covered include ABB Ltd.; Agilent Technologies, Inc.; Danaher Corporation; Emersion Electric Co.; General Electric Company; Honeywell International, Inc.; Horiba Ltd.; Mettler-Toledo International, Inc.; Shimadzu Corporation; Thermo Fisher Scientific, Inc.; Tintometer GmbH and Others.
Coverage: All major geographies and key segments
Segments: Product (TOC Analyzers, Turbidity Meters, pH Meters, Dissolved Oxygen Analyzers, Conductivity Sensors, Other Products); Application (Laboratories, Industrial, Government Buildings, Commercial Spaces, Other Applications)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.

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ABSTRACT-

Global Water Testing and Analysis Market to Reach US$4.3 Billion by the Year 2026
Water testing is extensively used in diverse industries globally for ensuring compliance to regulatory guidelines and maintaining public safety. Growth in the global market is attributed to increasing water pollution and the pressing need to ensure quality water for human use and industrial applications. Expanding global population and the subsequent focus on industrialization coupled with the growing demand from agricultural sector are expected to fuel growth in the market. Governments funding towards water pollution monitoring and control is expected to provide a significant push to the market. Global demand for these systems is also fueled by the need for clean water for personal hygiene and food preparation. Moreover, applications such as medical surgeries, renal dialysis, pharmaceutical operations and contact lenses require high-quality water. The rapid pace of urbanization in emerging countries is also driving the need for water treatment management solutions. Another factor driving demand is the replacement of aging water infrastructure in developed markets including North America and Europe. The growing need for high quality water in industries such as pharmaceutical and semiconductor coupled with emphasis on water reuse and recycling through programs such as zero liquid discharge is driving penetration of advanced technologies.

Amid the COVID-19 crisis, the global market for Water Testing and Analysis estimated at US$3.4 Billion in the year 2022, is projected to reach a revised size of US$4.3 Billion by 2026, growing at a CAGR of 5.1% over the analysis period. TOC Analyzers, one of the segments analyzed in the report, is projected to grow at a 6.3% CAGR to reach US$1.3 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Turbidity Meters segment is readjusted to a revised 4.9% CAGR for the next 7-year period. This segment currently accounts for a 11.4% share of the global Water Testing and Analysis market. Government regulations require industries to examine and treat wastewater before it is discharged into water bodies so as to minimize water pollution. As a result, the demand is increasing for water testing instruments such as TOC analyzers, which help determine the pollution levels by testing the dissolved oxygen present in water bodies. Industrial applications pay high attention to parameters such as basicity, turbidity and alkalinity, which needs the use of sophisticated sensors. These requirements are pushing private players to invest in advanced water quality testing.

The U.S. Market is Estimated at $787.9 Million in 2022, While China is Forecast to Reach $655 Million by 2026
The Water Testing and Analysis market in the U.S. is estimated at US$787.9 Million in the year 2022. The country currently accounts for a 23.04% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$655 Million in the year 2026 trailing a CAGR of 7.3% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.4% and 3.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.1% CAGR while Rest of European market (as defined in the study) will reach US$296.1 Million by the end of the analysis period. The European market is benefitting from rising awareness regarding water quality that is prompting various countries like the UK, France, Germany, Switzerland, Greece, Portugal and Denmark to adopt advanced systems. The US represents another major market, bolstered by government laws and initiatives to ensure clean water along with the presence of major players. The US market is favored by implementation of tough guidelines for water quality monitoring that are creating strong demand for these systems in both commercial and residential sectors. In emerging markets such as China, Russia, Brazil and India, growth is dependent on the steady rise in heavy industrial uses of water, greater need to exploit water resources of inferior quality, and growing investment in modernization of waste/water infrastructure.

pH Meters Segment to Reach $1 Billion by 2026
In the global pH Meters segment, USA, Canada, Japan, China and Europe will drive the 5.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$579 Million 20 will reach a projected size of US$822 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$109.6 Million by the year 2026, while Latin America will expand at a 6.5% CAGR through the analysis period.

Market to Benefit from Increasing Size of Semiconductor Wafers
Over the past three decades the semiconductor industry witnessed a transition in wafer size, with manufacturers moving to production of larger diameter wafers. At present the industry is focused on manufacture of 300nm wafers and is steadily moving towards 450 nm wafers. Wafer rinsing step in the semiconductor industry accounts for the major usage of ultrapure water in water fab. Nearly 70% percent of the water is used in the production of ultrahigh-purity water for wafer cleaning. Majority of the water is recycled and reclaimed for use in different parts of the wafer fab. On the other hand, around 20% of the water is used in non-UHPW steps such as heat exchangers and cooling towers, while the remaining 10% is consumed by non-process-related applications.

Larger the size of wafer more is the quantity of ultrapure water required. For instance 300 mm fabs use between 2 and 4 million gallons of water per day. With wafer surface area moving to a 450 mm wafer, water usage could increase to 4.5 to 8.5 million gallons per day. The strong demand for contaminant-free wafers along with increasing size of semiconductor wafers has pushed the requirement of ultrapure water and hence water testing to ensure water quality. Over the past four decades, the size of silicon wafers used within the industry has increased to around 300mm, considerably reducing production costs of these wafers. The trend has prompted semiconductor manufacturers to make notable investments upgrade or develop new fabs to accommodate new size of the silicon wafer.

Large wafer size implies that it can hold more number of microchips. This means process time and material should be efficiently used, as one run would produce dies equivalent to two or more runs. As bigger wafers require target with larger surface area, target manufacturers are focused on enhancing their capabilities including new product design to make larger target sizes. 450 mm wafers also require greater purity of ultrapure water to act as an effective cleaning agent against the backdrop of decreasing wafer technology nodes. As the industry transitions from 14nm to 10nm and lower technology nodes, the level of contaminants will be more, hence requiring more quantity and higher purity of ultrapure water. More

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