According to a new market research report published by Credence Research “Water Testing Equipment Market (by Testing Parameter: Physical Parameter, Chemical Parameter, and Biological Parameter; by Product Type: Portable, Handheld, Benchtop, and Disposable; by End-user: Research & Development, Industrial, Environmental, Government, Healthcare, and Others (Agriculture, Commercial, Educational Institution, Hospitality, etc.)) – Growth, Future Prospects, and Competitive Landscape, 2018-2026”, the water testing equipment market was valued US$ 3.38 Bn in 2017 and estimated to grow with a CAGR of 5.8% during the forecast period from 2018 to 2026.
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Market Insights
Scarcity of safe drinking water is transforming itself into monstrous issues and expected to aggravate on a tremendous scale in coming years. Shrinking water sources left no alternatives for people in developing and underdeveloped countries to turn towards feasible and available water sources such as groundwater and lakes to quench their thirst. Water quality demonstrates completely different profile with change in terrain, region, and conditions offering challenges to treat water before safe consumption. Several factors including global warming, use of harmful chemicals and metals, and adulteration restrict use of water for drinking, processing, and agriculture among others. Consequently, demand for water testing equipment experiencing continuous surge for testing physical, chemical and biological parameters of water. The market for water testing equipment estimated to grow with CAGR of XX% and the demand not expected to experience a downfall in coming years.
Almost every nation have published their regulations and standards for determining the condition of water. Organizations such as European Drinking Water Directive, States Environmental Protection Agency (EPA), China’s GB3838-2002 and Australian Drinking Water Guidelines among others follow strict testing guidelines and parameters for water consumptions. Countries, where such standards do not exist, follow guidelines set by World Health Organizations (WHO). All industries and other end-user have to abide by these regulations and often incorporate water testing equipment for checking the quality of water. Stringent regulations and urging need of fresh usable water worldwide encouraging the growth of water testing equipment market.
Competitive Insights:
Several major and minor water test equipment market confront each other in this highly fragmented market. The level of competition between these companies is intense and often need to undertake several new avenues & strategies to maintain their market position. With new biological threats and impurities uncovering themselves as new hazards, water testing equipment manufacturers have to keep themselves on toes to incorporate such threats into their testing spectrum. The research include business scope and development of few of the major water testing equipment vendors including Abb Ltd., General Electric Company, Danaher Corporation, Thermo Fisher Scientific, Inc., Emerson Electric Co., Honeywell International Inc., Global Treat Inc., Horiba Ltd, Shimadzu Corporation, Agilent Technologies Inc., Tintometer Gmbh and Mettler-Toledo International Inc. among others.
Key Analysis Covered:
- Latest trends in water test equipment market and growth prospects for water testing equipment manufacturers
- Stringent government regulations and growing demand for fresh & safe drinking water creating a positive impact on water test equipment market
- Different testing parameters, types, and availability used to provide accurate and precise water testing and their market estimations
- Largest and fastest growing segments in terms of testing parameters, product type, and end-user
- Most prominent geographical regions/ countries for the water testing equipment market
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