Environmental Testing Market: Current Analysis and Forecast (2023-2030)

Environmental testing is the process of observing and evaluating how ecological circumstances perform and how they affect living things. Temperature sensitivity, humidity, sun radiation, vibrations, fungi, acoustic measures, and many more characteristics are measured. It enables the forecasting organizations to keep the appropriate levels of the environmental components. The environmental testing lab sector is exceptional, for which the major driver is expected to be governmental regulation, this sometimes acts to inhibit innovation and slow the pace of technological advancement in dealing with environmental problems. Lack of flexibility inherent in governmental regulatory schemes also acts in many cases in removing incentives for environmental testing labs and instrumentation suppliers to explore innovative approaches and improve monitoring capabilities for environmental contaminants. US Environmental Protection Agency (EPA) has been active in the recent past, through programs such as the Superfund Innovative Technology Evaluation (SITE) program, as an attempt to promote a suitable approach for the application of new technologies to environmental assessments and contaminant eliminations. Furthermore, the agency is also planning to adopt performance-based testing methods (PBMs) to replace some of the rigid, highly prescriptive testing methods that are currently in use.

The Environmental Testing Market is expected to grow at a strong CAGR of 8% during the forecast period. The demand for environmental testing services is growing as people are becoming more aware of the need to pursue sustainable practices. For instance, in October 2023, NKE Group announced the acquisition of Aquaread, the highly reputable manufacturer of water quality measurement and monitoring solutions. This strategic acquisition sets the stage for exciting opportunities and synergies in the environmental instrumentation sector.

Based on type, the market is segmented into wastewater, soil, water, air, and others. Wastewater is expected to grow at a significant CAGR. The rise in industrial activity, rising environmental concerns about waste treatment and disposal, regulations on wastewater disposal, rapid urbanization, rise in health standards, demand for clean water, and scarcity of water supply are the main factors driving the growth of this market segment. Wastewater treatment is necessary to protect the environment, the public's health, and the efficiency of industrial processes.

Based on contaminant, the market is segmented into organic compounds, microbiological contaminants, residue, heavy metals, and solids. Microbiological contaminants are expected to grow with a considerable CAGR during the forecast period. Contaminants, such as bacteria, viruses, and fungi, can be found in a variety of environmental media, including air, water, soil, and food. Microbiological contaminants can have negative impacts on human health, wildlife, and the environment. This demand is driven by several factors, including increasing awareness of the importance of protecting public health, the growing demand for sustainable and environmentally friendly products and practices, and the need to comply with regulations related to microbiological contaminants.

Based on the technology, the market is bifurcated into conventional and rapid. Rapid technology is expected to grow with a robust CAGR during the forecast period. This is mainly due to the use of advanced analytical methods and techniques that allow for the rapid detection and quantification of environmental contaminants. These methods and techniques are faster and more efficient than traditional methods and can provide real-time results. This makes them particularly useful in situations where quick and accurate results are needed, such as in emergency response situations or in monitoring ongoing environmental contamination. Additionally, rapid technology is often more cost-effective than traditional methods, which can make it more accessible to businesses and individuals.

Based on end-user, the environmental testing market is segmented into agriculture & irrigation, government institutes, manufacturing, forestry & geology, and others. Agriculture & irrigation are anticipated to experience the highest CAGR during the forecast period. Owing to agricultural soil testing enables farmers to use the best fertilizer and lime rates to increase productivity, the rising demand for water testing products, and the rising need to maximize crop yield and quality on the farm. All these factors are driving up resource efficiency demands in this industry.

For a better understanding of the market adoption of environmental testing, the market is analyzed based on its worldwide presence in countries such as North America (United States, Canada, Rest of North America), Europe (Germany, UK, France, Spain, Italy, and Rest of Europe), Asia-Pacific (China, India, Japan, and Rest of APAC), and Rest of World. North America is expected to hold the greatest market share in 2022. Due to its emphasis on reducing acid rain, greenhouse gas emissions, and other environmental problems including climate change. Additionally, for most environmental issues regulating entities in the US have been driving the growth of the environmental testing market by implementing various environmental protection policies, with numerous initiatives by the authoritative bodies in North American countries being some of the key factors dominating the market. The number of testing laboratories has doubled in the major regions of North America. The government's establishment of new environmental regulations and transformation of current ones, fuel market demand for environmental testing. During the projection period, demand for the environmental testing market is also driven by favorable government efforts and the requirement for the construction of waste management infrastructure.

Some of the major players operating in the market include: Eurofins Scientific; EnviroSure, Inc.; EMSL Analytical, Inc.; SGS; Intertek Group PLC; Bureau Veritas; Merieux NutriSciences Corporation; Microbac Laboratories, Inc.; Pace; Analabs Inc. Several M&A's along with partnerships have been undertaken by these players to boost their presence in different regions.