The global Water Testing and Analysis market was worth around USD 4,281.97 billion in 2021 and is estimated to grow to about USD 6,039.76 billion by 2028, with a compound annual growth rate (CAGR) of approximately 5.9 percent over the forecast period. The report analyzes the Water Testing and Analysis market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Water Testing and Analysis market.
Water Testing and Analysis are crucial to determine the quality of water that can be used for multiple purposes such as drinking, use in industries, and day-to-day life activities. As the population increases the demand for potable water will also increase and substantially bolster the need for Water Testing and Analysis services on a global scale and this is expected to majorly influence Water Testing and Analysis market potential through the forecast period.
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Water testing provides insights on qualities such as alkalinity, acidity, turbidity, water conductivity, and radioactivity which helps in deciding the use of water and avoids waste of water in multiple industries. Water analysis systems are deployed in multiple industries to check the quality of water to decide its appropriate use and application, these systems are highly popular in mining, pharmaceuticals, food and beverages, aquaculture, etc.
However, the lack of efficient water infrastructure and high costs of Water Testing and Analysis equipment will act as a restraining factor for the Water Testing and Analysis market over the forecast period.
COVID-19 Impact Analysis:
The COVID-19 pandemic resulted in multiple restrictions across the globe which restricted multiple activities and Water Testing and Analysis market was also one of them. The Water Testing and Analysis market experienced a drop in growth curve as the restrictions made it impossible to implement new testing and analysis techniques and shuttering of multiple institutions also led to a negative growth curve in 2020.
Closure of multiple industries due to lack of skilled workforce and shortage of raw materials also had a negative impact on the Water Testing and Analysis market as this decreased the deployment of Water Testing and Analysis systems in these industries and hence resulted in losses.
In the post-pandemic era as the world returns to normal and industrial activity springs back to normal, we are expected to see the Water Testing and Analysis market rise at a steady pace.
Water Testing and Analysis Market: Growth Drivers
Stringent Water Treatment Regulations to Boost Water Testing and Analysis Services Demand
Wastewater contains multiple harmful elements and toxic chemicals that are harmful to the environment and human health and has a major negative impact on the global population to avoid these complications governments across the world are implementing new regulations to ensure proper treatment of water before disposal or use. This will majorly increase the demand for Water Testing and Analysis solutions and services and hence drive the Water Testing and Analysis market growth through 2028.
High Cost of Equipment and Less Developed Water Infrastructure to Restrain Market Growth
Water Testing and analysis market will see steady growth through 2028 but the high cost of equipment will have a major restraining effect on the global Water Testing and Analysis market potential. This will be a major obstacle for Water Testing and Analysis market growth in economies with low spending potential and hence constrain global Water Testing and Analysis market potential. The lack of developed water infrastructure will also have an adverse impact on the Water Testing and Analysis market growth through 2028.
The report's segments are:
This study provides historical data and revenue growth predictions at the global, regional, and national levels, as well as an analysis of market trends in each segment from 2021 to 2030. Reports and Data has divided the global Water Testing and Analysis market by product type, application, and geography for this report:
By Product Type Outlook
● Portable
● Handheld
● Benchtop
Others
By Application Outlook
● Laboratory
● Industrial
● Environmental
● Government
● Others
Water Testing and Analysis Market: Regional Analysis Preview
The market for Water Testing and Analysis in North America will be holding a dominant stance over the forecast period. This can be attributed to the presence of a developed water analysis and testing infrastructure and rapid technology adoption to boost water quality in multiple applications through the forecast period. The United States is expected to be the most prominent market in this region owing to the rising demand for water testing in the nation due to stringent government regulations and the presence of key manufacturing companies in the nation.
Asia Pacific region will see a swift increase in demand owing to rising demand for water from a growing population, rapid industrialization, and strict government laws to ensure water quality before use or disposal. The Europe Water Testing and Analysis market is also anticipated to hold a prominent market share in the global Water Testing and Analysis industry over the forecast period.
Water Testing and Analysis Market: Competitive Analysis
● Abb Ltd
● General Electric Company
● Danaher Corporation
● Thermo Fisher Scientific Inc
● Tintometer Gmbh
● Agilent Technologies Inc
● Danaher Corporation
● Emerson Electric Co
● Horiba, Ltd
● Honeywell International Inc
● Mettler-Toledo International Inc
● Shimadzu Corporation
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Recent Developments
● In 2021 – Irish Water appointed Intertek to create a new water quality model in collaboration with Nicholas O’Dwyer Ltd. This partnership will be tasked to deliver a Strategic Modelling Study of Cork Harbour and help analyse the impact of water activities in Cork Harbour.
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