Market Research Report
Global Environmental Testing Market Size study, by sample (wastewater/effluent, soil, water and air) Technology (conventional and rapid) Contaminant (microbes, organic compounds, heavy metals, residues, and solids) and Regional Forecasts 2018-2025
|Global Environmental Testing Market Size study, by sample (wastewater/effluent, soil, water and air) Technology (conventional and rapid) Contaminant (microbes, organic compounds, heavy metals, residues, and solids) and Regional Forecasts 2018-2025|
Published: May 15, 2019
Bizwit Research & Consulting LLP
Delivery time: 2-3 business days
Global Environmental Testing Market is valued approximately USD 9.1 billion in 2017 and is anticipated to grow with a healthy growth rate of more than 7.1 % over the forecast period 2018-2025. Government efforts to promote sustainable development and rising concern regarding environmental degradation are some key trends that are responsible for the wide adoption of environmental testing globally.
Global Environmental Testing market is majorly driven by government policies and initiatives to protect environment. According to the United States Environmental Protection Agency (EPA), the agency introduced an act named 'Clean Air Act' to set National Ambient Air Quality Standards to classify harmful pollutants to environment and public health. The act presents two types of national ambient air quality standards. The primary standards cover public health protection including asthmatics, elderly and children. In addition, secondary standards cover protection of public welfare which includes protection against damage to vegetation, crops, animals and building. Similarly, as per the World Bank Organization in June 2018, China is the world's largest emitter of greenhouse gases. Concerned with the adverse environmental and health consequences of air pollution, the Government of China is actively working to implement the series of mitigation plans. To support this, the World Bank has approved funds of $500 million as loan to China to control air pollution across the country. These investments would support technological advancements in sensor technology which positively influence the growth of the trace contamination detection for air market across China. As a result, the demand & adoption of environmental testing systems and technologies would increase thereby, aiding the growth of the market over the forecast period of 2018-2025. However, high capital investment for sensitive and accurate analytical testing is the major factor that impede the growth of the environmental testing market over the forecast period.
On the basis of segmentation, the environmental testing market is segmented into sample, technology and contaminant. The sample segment of global environmental testing market is classified into wastewater/effluent, soil, water and air of which wastewater/effluent accounts for the largest contributing segment owing to the regulation son wastewater/effluents and growing concerns related to waste disposal & treatment. Based on technology segment, global environmental testing market is diversified into conventional and rapid method. Rapid technology holds the leading position owing to its benefits such as higher accuracy, low turnaround time, sensitivity, and the ability to test a wide range of contaminants in comparison with conventional technology. The sample segment includes microbes, organic compounds, heavy metals, residues, and solids.
The regional analysis of environmental testing market is considered for the key regions such as North America, Europe, Asia Pacific, Latin America and ROW. North America have occupied major share in the global environmental testing market. The major reasons for the dominance of North America are presence of several environmental-governing organizations that have enforced various environmental protection policies. Also, the dominance of North America is witnessed owing to the growing environmental issues such as greenhouse gas emissions, climate change and others. Whereas, Asia-Pacific is expected to emerge as the fastest growing region in terms of market share. The growth of Asia-Pacific region is witnessed owing to rising infrastructure development such as energy-related and constructions projects and growing awareness about environmental pollution.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below: