Dublin, May 16, 2023 (GLOBE NEWSWIRE) -- The "Environmental Testing Market Size, Share & Trends Analysis Report By Sample (Soil, Air), By Technology (Rapid, Conventional), By Target-tested (Chemical, Biological), By End-use (Government, Industrial), And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global environmental testing market size is expected to reach USD 20.16 billion by 2030., expanding at a CAGR of 7.8% over the forecast period.
Companies Mentioned
- SGA SA
- Eurofins Scientific
- Intertek Group plc
- Bureau Veritas
- ALS Limited
- TUV SUD
- Asure Quality
- Merieux NutriSciences
- Microbac Laboratories, Inc
- R J Hill Laboratories Limited
- Symbio Laboratories
- Alex Stewart International
- Environmental Testing, Inc
- ALPHA ANALYTICAL, Inc
- American Environmental Testing Laboratories, LLC
This is attributed to the strict environmental laws and regulations, as well as the active involvement of various agencies, such as the Organization of Supervision and Environmental Assessment (OEFA), and the Environmental Protection Agency (EPA), in observing environmental conditions.
Construction activity has significantly decreased as a result of the COVID-19 spread, and this drop can be ascribed to considerable disruptions in the corresponding industrial and supply-chain operations.
Environmental testing services, however, have revealed a wide spectrum of consumption in the personal care and pharmaceutical sectors during the pandemic. The regulatory authorities demand routine sample testing & inspection of environmental waste and the need for customized testing services is also among the key drivers propelling the industry's growth.
The growing public awareness about environmental deterioration and the development of quick test procedures for detecting contaminants in the environment will open up profitable market development opportunities. This, in turn, is anticipated to boost the demand for environmental testing services over the forecast period.
The need from businesses for specialized testing methods for time-efficient results and productivity has greatly increased investments in the installation of rapid testing methods, such as analytical testing, in recent times. This is expected to propel the market demand for environmental testing over the forecast period.
For instance, Eurofins Scientific acquired Lab Frontier Co., Ltd., a South Korea-based provider of food, environment, and cosmetics testing services from Young In Group. This acquisition provided Eurofins an entry into the South Korean analytical testing market. Environmental testing manufacturers are seeking collaborations, mergers, and acquisitions to develop advanced and innovative environmental testing solutions.
In addition, manufacturers are also adopting several strategies like new product development, and geographical expansion, to enhance their market penetration and cater to the end-use industries. For instance, in March 2022, SGS S.A. announced the acquisition of Ireland-based Gas Analysis Services (GAS), a gas analysis testing and Instrumentation Company. The acquisition is expected to strengthen the former's position in high-purity gas testing and expand its customer portfolio in the pharmaceutical, medical device, and food & beverage sectors.
Environmental Testing Market Report Highlights
- The rapid technology segment accounted for the highest revenue share in 2022 owing to the advantages of rapid methods, such as greater accuracy, precision, sensitivity, and reproducibility
- The wastewater/effluent sample segment accounted for the maximum revenue share in 2022. Wastewater treatment is required to preserve public health and the environment, as well as to keep industrial processes running smoothly, which drives the segment growth
- The chemical target-tested segment was the largest in 2022 owing to the high awareness about reducing chemical pollution in water, air, and soil
- The government end-use segment led the industry in 2022 owing to the rise in government programs promoting green & sustainable environment and increasing public-private investments for the implementation of environmental testing systems
- In June 2020, Intertek Group plc launched CarbonClear, a certification program for the verification of upstream carbon intensity per barrel of oil. The certification is expected to benefit customers to facilitate their objectives of achieving carbon neutrality
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 150 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $11.78 Billion |
| Forecasted Market Value (USD) by 2030 | $20.16 Billion |
| Compound Annual Growth Rate | 7.8% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Environmental Testing Market Variables, Trends & Scope
3.1. Market Segmentation & Scope
3.2. Penetration and Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.4. Technology Overview
3.5. Regulatory Framework
3.6. Market Dynamics
3.6.1. Market Driver Analysis
3.6.2. Market Restraint Analysis
3.6.3. Industry Challenges
3.6.4. Industry Opportunities
3.7. Business Environment Analysis: Environmental Testing Market
3.8. COVID-19 Impact Analysis
Chapter 4. Environmental Testing Market: Technology Estimates & Trend Analysis
Chapter 5. Environmental Testing Market: Sample Estimates & Trend Analysis
Chapter 6. Environmental Testing Market: Target-tested Estimates & Trend Analysis
Chapter 7. Environmental Testing Market: End-use Estimates & Trend Analysis
Chapter 8. Environmental Testing Market: Regional Estimates & Trend Analysis
Chapter 9. Environmental Testing Market - Competitive Analysis
9.1. Key global players & recent developments & their impact on the industry
9.2. Key Company/Competition Categorization
9.3. Vendor Landscape
9.4. Public Companies
9.4.1. Company market position analysis
9.5. Private companies
9.5.1. List of key emerging companies and their geographical presence
Chapter 10. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/9f7x6d
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
