Environmental Testing Equipment Market - Future Revenue Growth Prospects


Posted February 9, 2021 by mmvaidya

The study involved four major activities to estimate the current market size for environmental testing equipment.
 
Overview of This Research:

The study involved four major activities to estimate the current market size for environmental testing equipment. Exhaustive secondary research was done to collect information on the market and its different subsegments.

The next step was to validate these findings, assumptions, and sizing with industry experts across value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter market breakdown and data triangulation was used to estimate the market size of segments and subsegments.

Global Revenue Growth Expectations:

The global environmental testing equipment market is expected to reach USD 2.9 billion by 2023 from USD 2.1 billion in 2018, at a CAGR of 7.1%.

Major Growth Boosters:

Growth in the environmental testing equipment market is mainly driven by factors such as the rising levels of environmental pollution worldwide, increasing government regulations and initiatives for environmental protection, privatization of environmental testing services, and increasing focus on wastewater treatment.

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Market Size Estimation:

Both top-down and bottom-up approaches were used to estimate and validate the total size of the environmental testing equipment market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

# The key players in the industry and markets have been identified through extensive secondary research.

# The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.

# All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Geographical Growth Scenario:

North America is expected to dominate the environmental testing equipment market during the forecast period

Geographically, North America is expected to dominate the global environmental testing equipment market in 2018, while the Asia Pacific region is expected to register the highest CAGR during the forecast period. The high growth in this region can be attributed to the rising outdoor air pollution levels, the availability of government funding, and stringent environmental monitoring regulations.

Recent Developments:

# In March 2018, Agilent established a new logistics hub in Shanghai to enable rapid delivery of the company’s instrument parts, supplies, and consumables to laboratories in China.

# In August 2016, Shimadzu acquired SINC (SINC do Brasil Instrumentaçâo Cientifica Ltda.) to strengthen its analytical and measuring instruments business in Brazil.

Global Leaders:

The major players in the environmental testing equipment analysis market include Agilent Technologies (US), Thermo Fisher Scientific (US), Waters Corporation (US), Shimadzu Corporation (Japan), Bruker (US), PerkinElmer (US), SCIEX (a subsidiary of Danaher) (US), JEOL (Japan), Analytik Jena (Germany), and Merck KGaA (Germany).

The analysis of market developments between 2016 and 2018 showed that market players adopted growth strategies such as product launches, strategic acquisitions, expansions, partnerships, agreements, and collaborations to strengthen their product portfolios and maintain a competitive position in the environmental testing equipment analysis market.

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Key questions addressed by the report:

# Which of the product segment will dominate the global market in the next five years?
# Emerging countries have immense opportunities for the growth and adoption of environmental testing equipment, will this scenario continue in the next five years?
# Increasing environmental awareness in the emerging market is impacting the growth for developed markets. How will the pricing difference impact the overall market?
# What are the upcoming technologies in the global market?

Data Triangulation:

After arriving at the overall market size using the market size estimation processes as explained above the market was split into several segments and subsegments. In order to complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both, the demand and supply sides, in the environmental testing equipment industry.

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Issued By Makarand Vaidya
Country United States
Categories Industry , Medical , News
Tags environmental testing services , environmental testing services industry , environmental testing services market , global environmental testing services industry , global environmental testing services market
Last Updated February 9, 2021