The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
LONDON, Nov. 14, 2023 (GLOBE NEWSWIRE) — As per The Business Research Company’s water quality testing equipment global market report 2023, the water quality testing equipment market is expected to surge from $4.01 billion in 2022 to $4.32 billion in 2023, with a robust compound annual growth rate (CAGR) of 7.7%. Furthermore, projections indicate continued expansion, reaching $5.57 billion by 2027 at a CAGR of 6.5%.
Driving Forces: Increasing Instances of Water Contamination
The alarming rise in water contamination incidents worldwide serves as a catalyst for the burgeoning water quality testing equipment market. Water contamination, marked by pollutants infiltrating groundwater and surface water, disrupts ecosystems and poses risks to human use. The report highlights an increase in such incidents, exemplified by a notable rise from 1,883 in 2021 to 2,026 in 2022, as reported by the UK Environment Agency. This escalation underscores the critical need for advanced water quality testing solutions.
Learn More In-Depth On The Water Quality Testing Equipment Market
Industry Leaders
Prominent players steering the water quality testing equipment market include General Electric Company, Thermo Fisher Scientific Inc., Danaher Corporation, ABB Ltd., and Emerson Electric Co. This diverse lineup of industry leaders emphasizes the competitive landscape and the commitment to driving innovation in the sector.
Technological Advancements: A Key Trend
Technological strides are a notable trend in the water quality testing equipment market. Industry giants, such as In-Situ Inc., are at the forefront, launching cutting-edge products like the Aqua TROLL 700 and 800 Multiparameter Sondes. These instruments showcase a commitment to long-term continuous monitoring, incorporating six Aqua TROLL sensors and an automated antifouling wiper for effective performance in various water environments.
Regional Dominance and Market Segmentation
North America took the lead in the water quality testing equipment market in 2022.
The water quality testing equipment market is segmented based on device type (stationary or bench-top, portable), test type (pH, dissolved oxygen, conductivity, turbidity, TDC tests), and end-user categories (industrial, commercial, government, and other end users).
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The Water Quality Testing Equipment Global Market Report 2023 foretells a compelling narrative of growth and innovation in response to the escalating challenges posed by water contamination. As industry players navigate this landscape, the report serves as a strategic compass, providing insights that can be leveraged for informed decision-making. Embrace the opportunities presented in this evolving water quality testing equipment market to propel your business to new heights.
Water Quality Testing Equipment Global Market Report 2023 by The Business Research Company provides insights on the water quality testing equipment market size, water quality testing equipment market segments, water quality testing equipment market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 6,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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