The global environmental testing market refers to a sector that involves the analysis and assessment of various environmental parameters to ensure compliance with regulations and standards. This market serves industries, governments, and other organizations concerned with environmental protection and sustainability. The importance of environmental testing is rising as a result of growing public awareness in environmental issues, as well as the ability to broadcast these issues quickly via social media and the increasing regulations by various government organization across the globe. With an 8.1% CAGR from 2022 to 2027, the global environmental testing market size is expected to be worth $9.4 billion in 2022 and more than $13.9 billion by the end of 2027.
Environmental testing has become a crucial element in our efforts to safeguard public health and preserve the planet's natural resources. By providing critical insights into the impact of pollutants on our environment, this process has enabled us to develop effective measures to counteract the harmful effects of pollution. The global environmental testing market is poised for substantial growth, driven by a combination of factors such as heightened environmental awareness, stringent government regulations, and rapid technological advancements.
The organic compounds segment dominated the market by targets tested, with the largest environmental testing market share during the forecast period.
The organic compounds cans be commonly found in water, air, and soil, as they are essential ingredients in many products and materials. Residual of these contaminants can be extremely harmful for environment. To avoid various health risks, government bodied have been regulating the standards often, and has been a highly demanded testing services by various industrial companies.
The wastewater/effluent market dominated the market for environmental testing, with the largest environmental testing market share during the forecast period.
With the increase in the population, the demand for clean drinking water and water for agricultural and irrigation purposes has increased, the demand for wastewater testing has been on high demand. Government demand the treatment and testing of wastewater industry producing chemicals, pharmaceuticals, food, beverages, and other products to safeguard the environment and communities.
The key players in global environmental testing market SGS SA (Switzerland), Eurofins Scientific (Luxembourg), Intertek Group plc (UK), Bureau Veritas (France), ALS (Australia), TÜV SÜD (Germany), AsureQuality (New Zealand), Mérieux NutriSciences (France), Microbac Laboratories, Inc. (US), Envirolab Services Pty Ltd (Australia), R J Hill Laboratories Limited (New Zealand), Symbio Laboratories (Australia), Alex Stewart International (UK), EMSL Analytical, Inc. (US), and F.B.A. Laboratories Ltd (Ireland). These players in this market are focusing on increasing their presence through expansion and collaborations. These companies have a strong presence in North America, Asia Pacific and Europe. They also have infrastructure facilities along with strong laboratory networks across these regions.
Key Questioned Addressed by Environmental Testing Market Report
What is the expected environmental testing market size in the coming years?
What is the estimated growth rate (CAGR) of the global environmental testing market for the next five years?
What was the global environmental testing market size in 2022?
Global Environmental Testing Market size is expected to reach US$ 12.95Bn by 2026 from US$ 7.76 Bn in 2019, at a CAGR of 7.6% during the forecast period.Methodology:The analysis of the report is carried on different primary and secondary data sources.
The primary sources include interviews with many industry analysts, suppliers, distributors, and other including professionals.
The percentage splits, market shares, and breakdowns of the segments are derived based on weightage assigned to each of the segments on their utilization rate and average sale price.After the complete market engineering with calculations for market statistics, market volume estimations, market forecasting, and market breakdown, extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at.
Extensive qualitative and further quantitative analysis is also done from all the numbers arrived at in the complete market engineering process to list key information throughout the report.Global Environmental Testing Market Dynamics:Growing governmental regulations imposed over the pollution maintenance, waste water limits led to increased investments by the several manufacturing industries in environmental testing services.
are factors expected to support the growth of water segment.To know about the Research Methodology :- Request Free Sample ReportGlobal Environmental Testing Market Regional Insights:North America dominates the market and is expected to maintain its position throughout the forecast period (2020-2026).
Also, an increase in the development of the testing company helps to grow the revenue share of the market.
