DUBLIN, January 19, 2022--(BUSINESS WIRE)--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 an 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's 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)
Agilent Technologies, Inc.
Emersion Electric Co.
General Electric Company
Honeywell International, Inc.
Mettler-Toledo International, Inc.
Thermo Fisher Scientific, Inc.
Key Topics Covered
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
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
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
Total Companies Profiled: 111
For more information about this report visit https://www.researchandmarkets.com/r/nlgih7
View source version on businesswire.com: https://www.businesswire.com/news/home/20220119005768/en/
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900