The global environment testing, inspection, and certification market was worth US$ 15,648.6 million in 2021 and is expected to be worth US$ 17873.8 million in 2022. Furthermore, as environmental concerns grow around the world, the overall demand for environmental testing, inspection, and certification is expected to rise at a 6.4% CAGR between 2022 and 2032, totalling around US$ 33,237.9 Mn by 2032.
Greater natural resource management, environmentally friendly fiscal policies, environmentally friendly marketplaces, and efficient waste management programmes are required globally to ensure sustainable growth. Regulatory regulations are being developed by numerous national and international governments in order to regulate healthy ecosystems and control air, water, and soil pollution. The market for environmental testing, inspection, and certification is expected to grow at a rapid pace over the next ten years as a result of increased government rules and standards.
Similarly, rising consumer awareness about product quality due to the deterioration of resources such as water and soil will drive market growth for environmental testing, inspection, and certification.
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What are the Key Trends Driving the Environment Testing, Inspection, and Certification Market?
“Key Regulations by Several Government Regulatory Bodies to Drive the Market Growth”
Energy-intensive production methods are reducing the ability of natural resources by degrading local environments, ultimately contributing to global climate change. To control the degradation of natural resources such as fossil fuels, soil, and air, governments are imposing stringent regulations on products and their manufacturing processes.
In order to ensure the safe execution of the products, manufacturers and leading companies are focusing on complying with the stringent regulations and standards set by the government. This will continue to push the demand for environmental testing, inspection, and certification during the forecast period.
“Increasing Demand for Soil Inspection to Supplement the Market Growth”
Due to growing awareness of sustainable and healthy lifestyles, consumers are expecting high-quality agricultural products. The demand for organic and high-quality agricultural goods has also been boosted due to the COVID epidemic.
Continuous usage of soil often results in decrease in the quality and characteristics of the soil as well as the crops. To address this issue and add particular agrochemicals to soil, various testing and inspection services are being adopted.
Manufacturers are concentrating on soil testing and inspection, which is predicted to boost the market, as manufacturing and import-export of goods are increasing in several countries. Soil testing is estimated to hold a share of about 15.3% in 2022. The service providers have chosen to test their products internationally due to the growing necessity to ensure product safety and high quality.
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The growing need for premium quality and safe products has led to an upsurge in demand for testing the products among organizations and manufacturers globally. Based on product type, the testing segment is projected to witness significant revenue growth, representing more than US$ 1,000 Mn by 2017-end. In contrast, the certification product type segment is projected to register a robust CAGR throughout 2026. On the basis of end-user, the agriculture industry segment is projected to represent the highest revenue growth, accounting for more than US$ 1,000 Mn by 2026-end. However, the industrial product manufacturer product type segment is projected to reflect a healthy CAGR over the forecast period.
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