The international demand for environmental testing equipment is expected to reach US$ 1.6 billion in 2027, up from US$ 1.1 billion in 2022, with a CAGR of 7.6% over the forecast timeframe.
Increasing global warming and pollution is creating the demand for environmental test equipment to measure the environmental conditions. The demand for environmental testing equipment is increasing with the strict regulations of the government to control the pollutant level.
Growing industries and factories are increasing the demand of environmental test equipment owing to measure their releasing effluents. In the global lab test equipment market, the demand for water and air test equipment are growing at a robust growth rate owing to increasing global warming and the problem of drinking water availability.
The demand for environmental air testing equipment in the next years may be fueled by a gradually decreasing air quality index caused by an increase in industrial and vehicular emissions, as well as the greenhouse impact.
As per the global environmental testing equipment market study, the COVID-19 pandemic has sparked the world’s worst economic collapse since the Great Depression. The worldwide average intake of petroleum and other liquid fuels in 2020 will be significantly lower than in the previous year.
Request a sample @ https://www.futuremarketinsights.com/reports/sample/rep-gb-8375
However, in the post-covid years, this decline in global petrochemical production is likely to reverse. According to the Energy Information Agency (EIA), the decline in production will reverse in 2022.
Because of their significant pollutant emissions, the rise of these industries is likely to generate strong growth possibilities for environmental laboratory testing equipment and environmental testing equipment suppliers in the coming years.
Massive capital requirements for precise and sensitive analytical testing, as well as insufficient associated infrastructure and a shortage of experienced specialists, are challenges that are projected to impede the environmental testing equipment market size in the next years.
Another important impediment to the expansion of the environmental testing methods and industry is a lack of basic supporting infrastructure for setting up testing facilities. Because manufacturing organizations are fragmented and dominated by small businesses, testing service providers in some developing nations have difficulty collecting samples from them.
Other significant challenges in the environmental testing equipment market adoption include a lack of institutional coordination, a lack of technology, technical skills, and competence for grassroots legislation, and outdated norms.
Key Takeaways
- In 2021, North America held the greatest share of the worldwide market. Growing funding for environmental testing methods in the US, widespread use of environmental testing equipment in the pharmaceutical sector, growing food safety concerns in the US, and government programs to improve lab infrastructure and propel fundamental scientific research in Canada are all factors contributing to North America’s growing environmental testing equipment market share.
- In 2021, the government agencies and local authorities segment held the greatest proportion of the environment equipment market. The government’s cooperation in environmental testing and pollution monitoring, particularly in emerging countries with severe pollution levels, can be ascribed to a major share of this market.
- During the projected period, the portable/mobile platforms category is expected to increase at the fastest rate. Government laws for pollution monitoring and control will promote demand increase across industrialized countries.
Ask an Analyst@ https://www.futuremarketinsights.com/ask-question/rep-gb-8375
Competitive Landscape
The key players are concentrating their efforts on growing their footprint in rising markets like Latin America, the Middle East, and the Asia Pacific.
Due to the increased focus on environmental pollution monitoring and control, particularly air pollution, in the Asia Pacific region, the market in China is predicted to develop at the fastest CAGR with major investments in environmental air testing equipment.
Thermo Fisher Scientific, Agilent Technologies, Waters Corporation, Bruker, PerkinElmer, Shimadzu Corporation, SCIEX, Analytik Jena, Merck, and JEOL are some of the major companies in the environmental testing equipment sector. To expand their market position and develop a significant client base, these companies are pursuing tactics such as collaborations, new continuous innovation, mergers, and acquisitions.
SCIEX (US), a division of Danaher Corporation (US), announced the ZenoTOF 7600 system LC-MS/MS instrument in June 2021.
Ask For Customization@ https://www.futuremarketinsights.com/customization-available/rep-gb-8375
About FMI:
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact:
Unit No: 1602-006
Jumeirah Bay 2
Plot No: JLT-PH2-X2A
Jumeirah Lakes Towers
Dubai
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs