Declining Water Quality to Push Global Water Testing & Analysis Market to Nearly $ 4 Billion by 2024
Rising water pollution
concerns, increasing government investments and growing awareness about water
safety to propel growth in global water testing &
analysis market through 2024
According to TechSci Research Report “Global Water Testing & Analysis Market By Type, By End Use Industry, By Region, Competition,
Forecast & Opportunities, 2014-2024”, the global
water testing & analysis market is projected to reach around $ 4 billion by
2024, owing to increasing water pollution due to discharge of untreated
industrial effluents in water bodies. Moreover, increasing number of government
initiatives towards good water quality, rising industrialization and
urbanization, and growing awareness about the consumption of safe water are
some of the other factors expected to fuel the market in the coming years.
Declining water quality is a major concern in various developing as well as
developed economies across Europe, North America and Asia-Pacific.
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Some of the major players
operating in global water testing & analysis market are ABB Limited, Suez
SA, Danaher Corporation, Thermo Fisher Scientific and Emerson Electric Company.
Growing government investments to deal with environmental issues, in addition
to increasing funding and technological advancements in the field of water
testing & analysis, is expected to have a positive impact on the market in the
coming years. Based on the type, TOC analyzer segment dominated global water
testing & analysis market in 2018, and the segment is expected to maintain
its market dominance in coming years, owing to its ability of testing dissolved
oxygen in water bodies to determine pollution levels in water bodies.
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“Europe
accounts for the largest market share in the global water testing &
analysis market, owing to stringent regulations implemented by governments
across the region on discharge of effluents and wastewater treatment. However,
in coming years, Asia-Pacific is expected to register the fastest growth, on
the back of growing population, urbanization and pollution coupled with climate
change effects, such as persistent droughts, which are impacting water supply
and its quality in the region. As a result, high demand for water testing &
analysis equipment from highly populated countries such as China and India is expected
to emanate during the forecast period.,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“Global Water Testing & Analysis Market By Type, By
End Use Industry, By Region, Competition, Forecast & Opportunities,
2014-2024’’ has
evaluated the future growth potential of water testing & analysis market and
provides statistics and information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyses the emerging trends along with essential drivers,
challenges and opportunities in global water testing & analysis market.
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