PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1606396
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1606396
The market for Water Quality Monitoring Instruments was projected to reach USD 4,521.5 million in 2023 and expand at a CAGR of 5.80% between 2024 - 2032.
Water quality monitoring instruments refer to a broad range of devices, frameworks, and systems that are used to track and assess different attributes and contaminants in water sources. These instruments help to ensure the safety & quality of water for various uses by measuring things like chemical concentrations and microbiological contamination. The market for water quality monitoring instruments is expanding due to a number of causes, one of which is the rising demand for industrial wastewater treatment globally. The increasing scarcity of freshwater worldwide is driving significant investments in water management systems by the public and commercial sectors, which in turn is driving up demand for water quality monitoring instruments. Moreover, the market is expanding due to strict laws surrounding wastewater treatment.
Water Quality Monitoring Instruments Market- Market Dynamics
Rising Number of Cases of Water Contamination
The market for water quality monitoring instruments is anticipated to rise in the future due to an increase in the number of cases of water contamination. When pollutants seep into subterranean groundwater or bodies of water like lakes, streams, rivers, estuaries, and seas to the point that they interfere with ecosystems' natural processes or people's capacity to use the water for good, it is referred to as water pollution. Equipment for assessing water quality is used to detect pollutants and assess various water quality factors. It helps identify various substances and pollutants in water sources, as well as their concentrations. For instance, the number of recorded cases concerning sewage and water supply infrastructure increased from 1,883 in 2021 to about 2,026 in July 2023, according to the Environment Agency, a non-departmental public organization located in the United Kingdom. Water distribution system incidents accounted for 345 of the 368 incidents that affected water supply assets in 2022 (345 in 2022 against 189 in 2021). Pollution incidents (originating from sewage and water supply infrastructure) increased from 1,883 in 2021 to 2,026 in 2022. As a result, the market for water quality monitoring instruments is expanding due to the rising number of cases of water pollution.
Water Quality Monitoring Instruments Market- Key Insights
According to our research analyst's analysis, the global market is projected to expand at a CAGR of approximately 5.80% during the forecast period of 2024-2032.
The benchtop category was predicted to hold the largest market share in 2023 based on type.
The TOC category was predicted to hold the largest market share in 2023 based on test type.
North America held the largest revenue share by region in 2023.
The Global Water Quality Monitoring Instruments Market is segmented into Type, Test Type, End-user, and Region.
On the basis of type, the market is divided into Benchtop and Portable. The market for water quality monitoring instruments is largely driven by the benchtop category, which is fueled by the rising need for precise and effective laboratory water testing. Benchtop instruments meet the exacting needs of industrial applications, environmental monitoring, and research by providing accurate measurements, intuitive interfaces, and sophisticated analytical capabilities. Benchtop water quality instruments are increasingly being used because of the focus on water safety and regulatory compliance. These devices offer trustworthy data that can be used to evaluate contaminants and guarantee the purity of the water.
Based on test type, the market is categorized into Dissolved Oxygen, Turbidity, pH, TOC, Conductivity, and Others. In 2023, the global market share of water quality monitoring instruments was dominated by the TOC subsegment. The increased focus is pushing the market on environmental monitoring. Modern testing equipment is in high demand due to strict laws and growing public awareness of water contamination. Total Organic Carbon (TOC) analysis is being developed in response to the growing need for analyzing municipal water and wastewater for organic materials. The organic matter content of water and wastewater may be found significantly more quickly with TOC monitoring.
Water Quality Monitoring Instruments Market- Geographical Insights
The Water Quality Monitoring Instruments market is widely distributed geographically in North America, Latin America, Europe, Asia Pacific, the Middle East and Africa. These areas are further separated based on the countries that provide business.
In 2023, the global market for water quality monitoring instruments was led by North America. The government's increasing financing and initiatives pertaining to water contamination and pollution are the main drivers of growth in the region. The government has launched a number of programs, such as the monitoring and mitigation of chemical pollution, the treatment of industrial effluent, and the management and mitigation of pollutants from agriculture and urban areas. One might expect an increase in the need for water quality monitoring products in the region as a result of the government's and various organizations' cooperative efforts to reduce water contamination.
Throughout the projected period, Europe's market for water quality monitoring instruments is anticipated to rise significantly. Growth in the industry is being driven by Europe's high per capita income, significant government financing for environmental services, and expenditures in water quality monitoring research. Laws guaranteeing water bodies satisfy requirements for public drinking have been passed by numerous European nations. Additionally, the region's market expansion is being aided by the growing public awareness of water pollution, which awareness programs have bolstered.
Important players in the water quality monitoring instruments market include Xylem, Inc., Evoqua Water Technologies LLC, LaMotte Company, Inc., Jenco Instruments Inc, HORIBA Group, Heron Instruments Inc., and others. Businesses in the industry are making a concerted effort to increase the size of their clientele and outperform their competitors. As such, they undertake a range of strategic endeavors, such as joint ventures, mergers & acquisitions, cooperation, and the creation of new products and technologies.
January 2024: Real Tech, a Canadian business that pioneered optical sensor technology and real-time water quality testing, has been acquired by ABB. The transaction, which is scheduled to be finalized in the first quarter of 2024, expands ABB's portfolio and strengthens its position in the water industry. With more than 10,000 installations worldwide, Real Tech's cutting-edge solutions will put ABB in a position to take advantage of development prospects brought about by the increased focus on sustainable water management.
April 2023: Tethys Instruments SAS was purchased by HORIBA Advanced Techno Co. Ltd.. This Japan-based company offers goods and services for measuring water and other liquids for a price that was not disclosed. HORIBA Advanced Techno Co. Ltd.'s analytical system research and development and market-ready solution offerings are enhanced by the purchase, enabling better water quality testing. Additionally, Tethys' proficiency in UV spectroscopy will be advantageous to HORIBA Advanced Techno Co. Ltd. since it will combine well with HORIBA's primary competencies in electrochemistry and sampling. A French company called Tethys Instruments SAS produces measurement tools for assessing water quality.