New York, Sept. 03, 2019 (GLOBE NEWSWIRE) -- Increasing prevalence of waterborne diseases, the surge in government obligations, and the rise in water pollution levels due to industrialization globally have led to the growth of the Water Quality Monitoring Equipment market. However, high cost of the equipment coupled with inadequate skilled manpower to handle the equipment will hamper the growth of the market over the forecasted period.
According to the current analysis of Reports and Data, the global Water Quality Monitoring Equipment market was USD 3.2 Billion in 2018 and is projected to register a CAGR of 6.1% from 2019 to 2026. The major driving factors that drive the global Water Quality Monitoring Equipment market are the increase in water pollution levels due to industrialization globally, increase in prevalence of waterborne diseases and the surge in government obligations regarding water quality. The major restraining factor that restricts the growth of the Water Quality Monitoring equipment market is the high cost of the equipment.
The market is segmented based on Equipment type, Parameter tested and Application. By region, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the World. North America and Europe were the largest revenue generating markets for the review period. Asia-Pacific region is projected to grow at the fastest rate during the forecast period.
The water conditions of the municipal corporations, industry, utility, and product sectors far exceed current supply. However, water exists in abundance; it's unreliable, and declining quality is a significant issue. Harnessing water suitable for the needs of different industries such as petrochemicals, oil and gas, mining, steel industry, power generation, municipal supply, and chemical and consumer goods requires an infrastructure that promises a steady supply, efficient equipment, and the reuse of resources. Water purity is critical for a number of industries such as pharmaceutical, semiconductor manufacturing, power generation, and food & beverage, among others.
Rapid industrialization and urbanization have driven the increasing demand for water treatment. Increasing population and application of pure water for daily consumption, which is an essential factor for public health have raised the need for better agricultural productivity where the significant utilization of water is observed. The increasing demand for water has put pressure on the regulatory bodies and government of different countries to formulate regulations related to water quality monitoring. Devices and methodologies used in water quality monitoring can range from simple and inexpensive devices to capital-intensive and sophisticated equipment. Field measurements reduce the time between sampling and measuring, thereby allowing for real- or near-real-time analyses. Simple field measured variables include thermometers and thermistors, DO meters or optodes, portable pH and conductivity meters, and optical turbidity meters, among others. Factors such as streamflow, dissolved oxygen, and biochemical oxygen demand, temperature, pH, and turbidity are the foundation of almost any water quality monitoring program. With universal applications ranging from consumption to industrial processes, the worldwide total water quality monitoring equipment market is expected to grow significantly during the forecast period.
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Further key findings from the report suggest
- Importance of sustainability and the need to mitigate climate changes, issues related to water, rapid urbanization coupled with growing population have gained significance in recent years.
- Equipment to monitor parameters like TOC and TS are one of the fastest growing segments in the water quality monitoring equipment market with CAGR of 6.1% and 6.35 respectively.
- The European region is forecasted to grow at a rate of 5.8% CAGR over the forecasted period.
- Water quality monitoring equipment in the Asia Pacific region is expected to witness significant growth in the coming years, due to an increase in water pollution in various countries like India and China.
- Laboratory-based analyzers segment is forecasted to dominate the Water quality monitoring equipment market over the forecasted period with a market share of over 45% in 2019.
- Average high –income nations treat about 70% of the wastewater that they generate, while the remaining 38% of wastewater is only managed in upper-middle income countries and 28% in lower-middle income countries.
- There is a rise in the consumer`s awareness regarding the depletion of natural resources, scarcity of freshwater in developed nations as well as the increase in the demand for freshwater in various industries. All these factors are leading to the growth of the market.
- Leading players in the market are focused on investing and improving their R&D capabilities in order to offer the latest technologies to gain competitive advantage.
- Key participants include Danaher Corporation (US), Evoqua Water Technologies (US), Suez S.A. (France), Horiba Ltd. (Japan), Shimadzu Corporation (Japan), Pentair Plc (UK), Thermo Fisher Scientific, Inc. (US), Xylem (US), ELTRA GmbH (Germany), Lar Process Analyzers AG (Germany), Analytical Technology Inc. (US), Real Tech, Inc. (Canada) and Aquaread Ltd. (UK).
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Segments covered in the report:
For the purpose of this report, Reports and Data has segmented the the Global Water Quality Monitoring Equipment market on the basis of equipment type, parameter tested, application, and region.
Equipment Type (Revenue, USD Million; 2016–2026)
- On-Line
- Laboratory
- Portable
Parameter Tested (Revenue, USD Million; 2016–2026)
- DO
- BOD & COD
- TOC
- TON
- TSA
- Others
Applications (Revenue, USD Million; 2016–2026)
- Municipal
- Industrial Process Water
- Others
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Regional Outlook (Revenue in USD Million; 2016–2026)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
- Brazil
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