PUBLISHER: The Business Research Company | PRODUCT CODE: 1391200
PUBLISHER: The Business Research Company | PRODUCT CODE: 1391200
“Environmental Testing Equipment Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on environmental testing equipment market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for environmental testing equipment? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The environmental testing equipment market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Environmental testing equipment encompasses a range of products and devices designed to assess the durability and reliability of various components and products when exposed to different environmental conditions. These tools are instrumental in detecting and identifying contaminants that may impact the quality of air, water, and soil.
The primary types of environmental testing equipment include chromatography products, mass spectrometers, molecular spectroscopy instruments, total organic carbon (TOC) analyzers, dissolved oxygen analyzers, conductivity sensors, turbidity meters, and pH meters. Chromatography products, for instance, are electronic systems specifically created for the separation of components within a mixture based on the relative amounts of each solute in a moving liquid stream. These tools find applications in water, air, and soil testing across various sectors, including government agencies, municipal authorities, environmental testing laboratories, industrial facilities, as well as commercial and residential settings.
The environmental testing equipment market research report is one of a series of new reports from The Business Research Company that provides environmental testing equipment market statistics, including environmental testing equipment industry global market size, regional shares, competitors with an environmental testing equipment market share, detailed environmental testing equipment market segments, market trends and opportunities, and any further data you may need to thrive in the environmental testing equipment industry. This environmental testing equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The environmental testing equipment market size has grown strongly in recent years. It will grow from $1.15 billion in 2023 to $1.25 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The expansion observed in the historical period can be attributed to several factors, including increased regulatory compliance requirements, the effects of industrialization and urbanization, a growing emphasis on pollution control, a focus on occupational safety measures, and heightened environmental awareness. These elements collectively contributed to the overall growth observed during that timeframe.
The environmental testing equipment market size is expected to see strong growth in the next few years. It will grow to $1.75 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The anticipated growth in the forecast period can be attributed to several key factors, including the increasing concern over emerging contaminants, ongoing infrastructure development, changes in land use and land cover, the need for monitoring climate change, and a growing emphasis on public health preparedness. Noteworthy trends expected in this period encompass the integration of Internet of Things (IoT) technologies, the development of portable and field-deployable environmental testing devices, the utilization of data visualization and big data analytics, the incorporation of smart sensors and wearables, and the application of high-resolution remote sensing techniques. These trends are poised to significantly impact and contribute to the projected growth and evolution of the environmental testing equipment industry in the forecasted period.
The environmental testing equipment market is experiencing significant growth due to the escalating levels of environmental pollution globally. Factors such as rapid industrialization, urbanization, wildfires, transportation, construction, and deforestation have led to an increase in environmental pollution. Governments worldwide are investing in environmental testing equipment to monitor changes in air, water, and soil pollution continuously. This investment supports the implementation of innovative policies to address environmental challenges based on insights gained from testing activities. For example, Eurostat reported that the total general government expenditure on environmental protection in the European Union was approximately $125.84 billion (€119 billion), constituting 0.8% of the EU's Gross Domestic Product (GDP). This underscores the growing need for environmental testing equipment to address the rising levels of environmental pollution.
The environmental testing equipment market is expected to receive a further boost from the expansion of industrial activities. Industrial activities encompass a broad range of processes involved in large-scale production, manufacturing, and processing of goods and services. Environmental testing equipment plays a crucial role in ensuring compliance with environmental regulations, minimizing pollution, and promoting sustainable and responsible production practices. The emphasis on protecting the environment and public health is driving the demand for advanced testing solutions. In the US, industrial production increased by 0.3% in September, with a 2.5% annual rate of growth in the third quarter, accompanied by a 0.4% rise in manufacturing output for the same month. This indicates the pivotal role of environmental testing equipment in supporting and regulating industrial activities.
A key trend in the environmental testing equipment market is technological advancement. Leading companies in the market are focused on delivering technologically advanced solutions to meet the evolving demands of end-customers and enhance their global market position. In February 2023, Thermo Fisher Scientific, a prominent biotechnology company, introduced two new wet chemistry analyzers - Thermo Fisher Scientific's Aqua Master discrete analyzers and The Gallery Aqua Master discrete analyzers. These analyzers cater to various applications, including soil analysis, drinking water analysis, and wastewater and sewage water analysis. The integration of advanced technology in environmental testing equipment reflects the industry's commitment to providing accurate and efficient solutions for environmental monitoring and analysis.
Leading companies in the environmental testing equipment market are strategically focusing on the introduction of cost-effective testing solutions to gain a competitive advantage. One such example is EnviroMate, a compact and budget-friendly benchtop environmental chamber tailored for inhaler testing. Copley Scientific Limited, a UK-based laboratory equipment manufacturer, unveiled EnviroMate in September 2022. This specialized chamber ensures stable and precise environmental conditions, contributing to reliable and accurate results in inhaler testing. The chamber's design emphasizes cost-efficiency and user-friendliness, making it well-suited for deployment in research facilities and laboratories. EnviroMate's capability to control critical factors such as temperature, relative humidity, and electrostatics enhances its effectiveness in inhaler testing.
In a strategic move to bolster its presence in environmental testing, Eurofins Scientific SE, a France-based testing laboratory company, acquired IESPM Group in April 2022. This acquisition enhances Eurofins Scientific SE's capabilities in environmental testing and broadens its service offerings in oil analysis and research. IESPM Group, based in France, is recognized for its expertise in providing oil analysis solutions and environmental testing equipment. The acquisition reflects Eurofins Scientific SE's commitment to expanding its portfolio and strengthening its position in the dynamic environmental testing market.
Major companies operating in the environmental testing equipment market include Agilent Technologies Inc., Thermo Fisher Scientific Inc., Shimadzu Corporation, Waters Corporation, Bruker Corporation, PerkinElmer Inc., Merck KGaA, Danaher Corporation, JEOL Ltd., Endress+Hauser Group Services AG, JASCO Corporation, Teledyne Technologies Incorporated, AMETEK Inc., MDS Analytical Technologies Inc., Analytik Jena AG, SCIEX LLC, Extech Instruments Corp., Amphenol Corporation, PathSensors Inc., Alpha Analytical Inc., American Environmental Testing Laboratory LLC, Eurofins Scientific SE, EMSL Analytical Inc., Hydrologic Associates USA Inc., Intertek Group plc, Microbac Laboratories Inc., Pace Analytical Services LLC, Thermotron Industries Inc., Cincinnati Sub-Zero Products LLC, TestEquity LLC, Weiss Technik North America Inc., Russells Technical Products Inc.
North America was the largest region in the environmental testing equipment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the environmental testing equipment market during the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the environmental testing equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The environmental testing equipment market consists of sales of sample prep equipment, temperature chambers, temperature chambers, biofuel analyzers, balances, evaporators, stability chambers, particle counters, refractometers, GC systems, autosamplers, and HPLC systems. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.