The global water quality testing equipment market accounted for US$ 3.41 Bn in 2018 and is expected to grow at a CAGR of 5.93% over the forecast period 2019-2027, to account for US$ 5.67 Bn by 2027.
Growth in recent years in the water quality testing equipment market is primarily driven by the increasing need for monitoring the water contamination levels in the water bodies and ensuring safe water access for consumptions. North America region is observed to garner the highest market share in the water quality testing equipment market.
Steady growth in the implementations of water quality testing equipment is being observed globally in various industrial premises, Government bodies, and other commercial bodies where water plays a key operational role. Over the years, rapid urbanization and industrialization have caused paradigm shifts in the water ecosystem as well as imbalances in the water supply and demands from end-users. Water contamination has been a major by-product of the rapid and unplanned industrialization as well as urbanization in the developed as well as developing economies. The contamination of water resources poses a serious threat to environmental health as well as human health. Regions characterized by unhygienic and under-developed water supply and sanitation facilities have remained prone to a higher number of water-borne diseases. Further, the climatic changes globally have also had deepening impacts on the available water resources. These factors augur in favor of the growth of the water quality testing equipment market.
The SDWA law is managed by the Environmental Protection Agency (EPA) that implements and executes the monitoring of legislation in the country. The EPA supervises the localities, states as well as the water suppliers those who apply these standards. The Department of Natural Resources and the Department of Environmental Quality are mandated to strictly enforce these water regulations that are set by the SDWA. Apart from this, the American Water Works Association (AWWA) is responsible for issuing standards and guidelines for the construction of water infrastructure in the country. The water infrastructure constitutes of water treatment facilities, water storage facilities, public water utilities, and the allied distribution systems. Stringent mandates on water quality standards are also anticipated to drive the water quality testing equipment market.
The overall water quality testing equipment market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the water quality testing equipment market. It also provides the overview and forecast for the global water quality testing equipment market based on all the segmentation provided with respect to five major reasons such as North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. Also, primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the water quality testing equipment industry. Some of the players present in the water quality testing equipment market are ABB Ltd., Agilent Technologies, AquaPhoenix Scientific, Inc., Danaher Corporation, Emerson Electric Co., Eurofins Scientific SE, General Electric (GE), Horiba, Ltd., Shimadzu Corporation, and Thermo-Fisher Scientific among others.