PUBLISHER: Polaris Market Research | PRODUCT CODE: 1339218
PUBLISHER: Polaris Market Research | PRODUCT CODE: 1339218
The global water testing equipment market size is expected to reach USD 8.04 billion by 2032, according to a new study by Polaris Market Research. The report "Water Testing Equipment Market Share, Size, Trends, Industry Analysis Report, By Instrument; By Product Type; By Test Type; By Technique (Electrochemistry, Separation Technique, Atomic & Molecular Spectroscopy); By Region, And Segment Forecasts, 2023 - 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
Increasing demand for safe drinking water, along with the growing preference for bacteria and chemical-free water, is expected to drive the demand for water testing equipment. Ensuring the safety and quality of drinking water is a priority for individuals, communities, and regulatory bodies worldwide. The rise in awareness about waterborne diseases and the need for clean drinking water has led to an increased demand for water testing equipment. These instruments and tools are used to analyze and monitor the presence of contaminants, microorganisms, and chemicals in water sources, ensuring that it meets the required standards for human consumption.
Moreover, there is a growing emphasis on providing chemical-free water for various applications, such as in food and beverage production and pharmaceutical manufacturing. Regulatory support and legislation regarding water quality and the production of high-quality products have further amplified the demand for chemically treated water. Water testing equipment plays a crucial role in monitoring and verifying the effectiveness of water treatment processes, ensuring that the water is free from harmful chemicals and contaminants.
In developing countries like India and China, the governments have implemented stringent regulatory guidelines concerning the use of water in industries such as food and beverages, and pharmaceuticals. These guidelines aim to maintain high safety standards and ensure that water used in production processes meets the required quality criteria. To enforce these regulations, the government regularly monitors the operations of these industries and conducts tests to assess compliance with safety standards. This regulatory environment has significantly increased the demand for water testing equipment as companies strive to meet the regulatory requirements and ensure the safety of their products.
The market for water testing equipment is characterized by intense competition, driven by new product launches and technological advancements. Market participants strive to develop applications that provide a competitive edge and meet the evolving needs of customers. In this competitive landscape, large multinational corporations face significant competition from local firms, particularly in the region. These local firms can offer competitive pricing while maintaining the quality of their products, posing a threat to the market share of multinational corporations.
Spectrometer segment captured the largest share, due to its ability to be used in different settings
Physical test segment led the revenue share, due to increasing need for highly efficient water purification analysis
North America dominated the global market with substantial share in 2022, due to emergence of clean water act and favorable government norms
The global key market players include: Honeywell International, Idexx Laboratories, Agilent Technologies, and Shimadzu Corporation
Polaris Market Research has segmented the water testing equipment market report based on instrument, product type, test type, technique, and region: