Environmental Testing Equipment Market Size Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3161
Environmental Testing Equipment Market size will register substantial growth from 2019 to 2025 led by supportive government initiatives and policies across the globe. As the industrialization is increasing and pollution level is rising continuously, to address these challenges, government across the countries are formulating several environmental policies and initiatives to reduce the pollution level. They are adopting advance environment testing technologies to manage the industrial waste and carbon di oxide emission. Furthermore, the governments are also providing tax benefits and subsidiaries to the manufacturers and industries to reduce the emission of the hazardous gases in the environment. This is promoting the demand for the environmental testing equipment across the industry verticals.
The increasing pollution levels and the global warming is also propelling the growth of the market. Over the past decade, the global temperature has raised significantly, and it is estimated that the temperature could rise from 1.4?C to 5.8?C over the 21st century. The increasing industrialization and urbanization along with the emission of Greenhouse Gases (GHG) in the atmosphere is responsible for the global warming. This is creating demand for the environment testing equipment among industries to keep check on the GFG emission.
Moreover, the increasing focus on the waste water treatment is also propelling the market growth. The scarcity of the water resources and the rapidly vanishing sources of fresh water sources is forcing governments to manage the water waste more effectively. This is accelerating the demand for the environment testing equipment. In addition, the privatization of the environment testing activities and the growing demand for the third-party testing service providers is driving the market growth.
However, the organizations are still reluctant to adopt environmental testing equipment due to the high cost associated with the accurate and sensitive analytical testing. Furthermore, the lack of supporting infrastructure and skilled professionals are restricting the adoption of the environmental testing equipment market
The environmental testing equipment market is characterized by application into soil testing, water testing and air testing. The water testing accounts for majority share in the market. The rise in water pollution creates a need of water waste management to control the waste from industries are the primary factor supporting the market growth. Whereas, the air testing is anticipated to grow significantly during the forecast period. The increase in air pollution level is accelerating the demand of the environmental testing equipment for the measuring the air pollution level.
North America holds the largest market share due to the strict government regulations to release pollutant at a safe level, and high awareness towards environment health. There are several laws imposed by the government to control the pollution measure. For instance, The Federal Clean Air Act of 1995 imposed for national air quality requirement and environment protection agency. The Clean Water Act imposed to regulate discharges of pollution in water, The Toxic Substance Control Act and other acts and laws. The government is taking initiatives to create awareness regarding fresh water, waste disposal, pollution caused by vehicles, and health awareness to minimize the pollution.
The Asia Pacific’s environmental testing equipment market is expected to grow significantly during the forecast period due to the supportive government regulations for the pollution control. For instance, the Chinese government is financing the R&D activities on technologies for reducing the burden on pollution control, protecting fresh water, and developing early warning and environment monitoring system.
Key vendors operating in the environmental testing equipment market are the Agilent Technologies, Thermo Fisher Scientific, Waters Corporation, Shimadzu Corporation, Bruker, PerkinElmer, SCIEX, JEOL, Analytik Jena, and Merck. The vendors are focusing on strategic merger & acquisition activities to gain market share and accelerate their sales. For instance, in August 2016, Shimadzu acquired SINC to strengthen its analytical and measuring instruments business in Brazil. Furthermore, in June 2018 Thermo Fisher Scientific Signs Agreement to Acquire Gatan from Roper Technologies to enhance the customer offering.
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