Dublin, Jan. 24, 2022 (GLOBE NEWSWIRE) -- The "Water Testing and Analysis - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Water Testing and Analysis Market to Reach US$4.3 Billion by the Year 2026
Growth in the global market is attributed to increasing water pollution and the pressing need to ensure quality water for human use and industrial applications. Expanding global population and the subsequent focus on industrialization coupled with the growing demand from agricultural sector are expected to fuel growth in the market. Governments funding towards water pollution monitoring and control is expected to provide a significant push to the market.
Global demand for these systems is also fueled by the need for clean water for personal hygiene and food preparation. Moreover, applications such as medical surgeries, renal dialysis, pharmaceutical operations and contact lenses require high-quality water. The rapid pace of urbanization in emerging countries is also driving the need for water treatment management solutions.
Another factor driving demand is the replacement of aging water infrastructure in developed markets including North America and Europe. The growing need for high quality water in industries such as pharmaceutical and semiconductor coupled with emphasis on water reuse and recycling through programs such as zero liquid discharge is driving penetration of advanced technologies.
Amid the COVID-19 crisis, the global market for Water Testing and Analysis estimated at US$3.2 Billion in the year 2020, is projected to reach a revised size of US$4.3 Billion by 2026, growing at a CAGR of 5.1% over the analysis period. TOC Analyzers, one of the segments analyzed in the report, is projected to grow at a 6.3% CAGR to reach US$1.3 Billion by the end of the analysis period.
After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Turbidity Meters segment is readjusted to a revised 4.9% CAGR for the next 7-year period. This segment currently accounts for a 11.4% share of the global Water Testing and Analysis market.
Government regulations require industries to examine and treat wastewater before it is discharged into water bodies so as to minimize water pollution. As a result, the demand is increasing for water testing instruments such as TOC analyzers, which help determine the pollution levels by testing the dissolved oxygen present in water bodies. Industrial applications pay high attention to parameters such as basicity, turbidity and alkalinity, which needs the use of sophisticated sensors. These requirements are pushing private players to invest in advanced water quality testing.
The U.S. Market is Estimated at $760.9 Million in 2021, While China is Forecast to Reach $655 Million by 2026
The Water Testing and Analysis market in the U.S. is estimated at US$760.9 Million in the year 2021. The country currently accounts for a 23.04% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$655 Million in the year 2026 trailing a CAGR of 7.3% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.4% and 3.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.1% CAGR while Rest of European market (as defined in the study) will reach US$296.1 Million by the end of the analysis period. The European market is benefitting from rising awareness regarding water quality that is prompting various countries like the UK, France, Germany, Switzerland, Greece, Portugal and Denmark to adopt advanced systems.
The US represents another major market, bolstered by government laws and initiatives to ensure clean water along with the presence of major players. The US market is favored by implementation of tough guidelines for water quality monitoring that are creating strong demand for these systems in both commercial and residential sectors. In emerging markets such as China, Russia, Brazil and India, growth is dependent on the steady rise in heavy industrial uses of water, greater need to exploit water resources of inferior quality, and growing investment in modernization of waste/water infrastructure.
pH Meters Segment to Reach $1 Billion by 2026
In the global pH Meters segment, USA, Canada, Japan, China and Europe will drive the 5.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$579 Million in the year 2020 will reach a projected size of US$822 Million by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$109.6 Million by the year 2026, while Latin America will expand at a 6.5% CAGR through the analysis period.
Select Competitors (Total 111 Featured)
- ABB Ltd.
- Agilent Technologies, Inc.
- Danaher Corporation
- Emersion Electric Co.
- General Electric Company
- Honeywell International, Inc.
- Horiba Ltd.
- Mettler-Toledo International, Inc.
- Shimadzu Corporation
- Thermo Fisher Scientific, Inc.
- Tintometer GmbH
Key Topics Covered
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Impact of COVID-19 and a Looming Global Recession
- 2020: A Year of Disruption & Transformation
- As the Race between the Virus & Vaccines Intensifies, Review of the World Economy in 2021
- Pandemic Brings to Light the Demand-Supply Gap in Accessing Clean and Safe Water
- COVID-19 Waters: Implications for Myriad Aspects of Water Industry & Water Testing
- COVID-19 Virus & Pandemic Response: Water Quality Concerns Pave Way for Water Testing
- COVID-19 Virus in Wastewater
- Promising Outlook for Wastewater-Based Epidemiology
- Water Testing: Assessing Water Quality for Safety & Compliance
- Water: The Essence of Life
- World Water Resources: A Primer
- A Note on Looming Global Water Crisis and Opportunities for Water Quality Testing Industry
- World Water Crisis Facts
- Deteriorating Quality of Water Throws Emphasis on Water Quality Testing and Analysis
- Market Outlook
- Developed Regions Dominate the Market, Developing Regions to Grow Faster
- Water Quality Monitoring: Different Strategies and Implications
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- COVID-19 Underscores Critical Need for Water Testing for Safe Food Supply
- Water Quality Testing Gains Importance in Food Production and Processing
- Surging Population and Increasing Need for Water Drives Demand for Water Quality Testing and Analysis
- Rapid Urbanization Aggravates Water Woes & Powers Demand for Water testing and Analysis
- Water Quality Monitoring Takes Significant Leap with Cloud & IoT-Driven Technology
- Emerging Solutions to Tackle Challenges with Water Quality Monitoring Instruments
- Robust Systems to Cut Repair & Maintenance Costs
- Flexible Platforms for Future Needs
- Smart Sensors for Data Quality
- Enhanced Efficiency
- Water Analysis Instruments Become Smaller, Cheaper and Faster
- Integration of AI and ML Drive Instrumentation Capabilities
- Portable, Smartphone Connected Device Fuels Demand for Water Testing
- Growing Bottled Water Demand Benefits Water Testing
- Rise in Waterborne Diseases Drives Demand for Water Quality Testing
- Global Warming & Climate Change to Encourage Pervasive Adoption
- Poor Water Quality Increases Demand for Dissolved Gases Sensors
- Water Testing: An Integral Part of Pharmaceutical Industry
- Primary Components of Pharmaceutical Water Testing to Alleviate Contamination Issues
- Requirements for Water Used by the Pharmaceutical Industry
- Pharmacopoeia Specifications for Purified Water
- Pharmacopoeia Specifications for Highly Purified Water and Water for Injection
- Significance of Water in Agriculture Applications Drives Demand
- Growing Interest in Vertical Farming, Hydroponic Agriculture Drives Use of Reclaimed Water
- Smart Cities Concept to Underpin Sales Growth in the Coming Years
- Critical Role of Ultrapure Water in Semiconductor Manufacturing Drives Consistent Need for Water Testing
- Market to Benefit from Increasing Size of Semiconductor Wafers
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
- Total Companies Profiled: 111
For more information about this report visit https://www.researchandmarkets.com/r/p6swde
