Portland, OR, June 15, 2022 (GLOBE NEWSWIRE) -- As per the report, the U.S. environmental testing market generated $2.32 billion in 2020, and is expected to reach $3.84 billion by 2030, growing at a CAGR of 5.2% from 2021 to 2030.
Increase in investments by the government in advanced testing equipment and surge in awareness of environmental degradation have boosted the growth of the U.S. environmental testing market. However, high capital investment and dearth of technical skill and equipment hinder the market growth. On the contrary, availability of industrial activities in the development of new sectors would open new opportunities in the future.
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Covid-19 scenario:
- The Covid-19 pandemic negatively affected the global trade. The rapid spread of the disease gave way to halted construction activities, which declined the demand for environmental testing equipment.
- The prolonged lockdown disrupted the supply chain and created challenges in the procurement of raw materials.
The report segments the U.S. environmental testing market on the basis of sample, contaminant, technology.
Based on sample, the wastewater segment held the largest share in 2020, accounting for around half of the market. However, the air segment is projected to register the highest CAGR of 5.6% during the forecast period.
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On the basis of contaminant, the organic segment held the largest share in 2020, contributing to nearly half of the market. Furthermore, the segment is estimated to manifest the highest CAGR of 5.8% from 2021 to 2030.
Based on technology, the rapid segment dominated the market in terms of revenue, accounting for around four-fifths of the market. Moreover, the segment is expected to showcase the highest CAGR of 5.6%
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The U.S. environmental testing market includes an in-depth analysis of the prime market players such as Alpha Analytical, Inc., Agilent Technologies, Inc., American Environmental Testing Laboratory, LLC., EMSL Analytical, Inc., Eurofins Scientific, Intertek Group plc, Hydrologic Associates USA, Inc., Mérieux NutriSciences Corporation, Microbac Laboratories, Inc, Pace Analytical Services, LLC, Merck KGaA, Thermo Fisher Scientific Inc, and Teledyne Technologies Incorporated.
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