Global environmental testing market likely to boost due to the growing regulations about environment protection, and the government's regulatory bodies to monitor environmental conditions
environmental testing
The global environmental testing market size was valued at USD 27.42 billion in 10.79 and projected to reach USD 16.74 billion by 2027, growing at a CAGR of 5.46% over the forecast period, 2020-2027. It is primarily attributed to swelling incidences of pollution and wastage in various countries that impact citizens' health. Additionally, the augmented number of regulations and active participation of governments and regulatory bodies to tackle environmental issues spur the environmental testing industry in the future periods. Further, the growing applications of environmental testing for measurement of furnace temperature, measurement of flue gas in air, calibration of measuring systems, and the determination of odor in emissions are estimated to trigger the market expansion. Also, the scarcity of water resources and the rapidly vanishing sources of freshwater sources worldwide are forcing governments to manage the water waste more effectively. These factors are driving market growth in the forecast span.
Moreover, the mounting public-private funding for deployment of environmental monitoring systems is fuelling the demand for environmental testing in future periods. Also, the introduction of analytical laboratories for customized testing services and offer testing services for specified client requirements leads to managing their testing costs and saving time. These factors will accelerate the growth of the global environmental testing market share in the analysis period. Furthermore, the rising pollution levels due to augmented industrialization and urbanization have obliged businesses and governments to deploy new environmental monitoring stations that are expected to propel the growth of the environmental testing market.
Sample Overview in the Global Environmental testing Market
Based on the sample, the global environmental testing market segregated into wastewater/effluent, soil, water, and air. The water segment held the leading share in the market in 2019. It is attributable to the increasing demand for water testing solutions for swelling industrialization led to high wastewater disposal and water pollution. Additionally, the surge in demand for water testing to detect and measure pollutants in surface and groundwater worldwide.
Technology Overview in the Global Environmental testing market
Based on technology, the global environmental testing market bifurcates into the conventional and rapid method. The rapid method segment held for the highest revenue in 2019. It is due to the growing demand for analytical methods for examining environmental pollutants and the need for sensor technology, particularly environmental monitoring. It is more economical, quick, user-friendly, and accurate than conventional technology.
Containment Overview in the Global Environmental testing Market
Based on containment, the global environmental testing market classified into microbial contamination, organic compounds, heavy metals, residues, and solids. The organic compounds segment accounted for a larger market share in 2019 and projected to lead the market by 2027. It is due to the testing of volatile organic compounds, which led to the risk of health problems rising by breathing in even low VOC levels.
Regional Overview in the Global Environmental testing Market
By geography, the global environmental testing market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The Asia Pacific accounted for the maximum revenue share in 2019. Due to the increasing awareness about environmental issues such as pollution, the development of new policies and the transformation of existing environmental policies by governments, and the surge in demand for the development of waste handling infrastructure.
Global Environmental testing Market: Competitive Landscape
Companies such as Eurofins, Intertek, Bureau Veritas, Mérieux, Microbac Laboratories, R J Hill Laboratories, Symbio Laboratories, Alex Stewart, SGS, Agilent Technologies, AB Sciex, and Romer Labs are the key players in the global environmental testing market.
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