Transparency Market Research has released a new market report entitled “Environmental Testing Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024” on to their report store.
Albany, NY -- (SBWIRE) -- 07/26/2017 -- The global market for environmental testing is experiencing a significant surge in its valuation, thanks to the increasing number of rules and regulations pertaining to the protection of the environment and the active participation of various governments and authorities in monitoring environmental conditions.
Going forward, the increasing instances of health issue caused by organic contamination are projected to boost this market substantially in the years to come. Other types of contaminations, such as microbiological, residues, heavy metals, and solids, are also projected to fuel the demand for environmental testing solutions across the world over the next few years.
The worldwide market for environmental testing reports its reach across North America, Eastern Europe, Western Europe, Latin America, the Middle East and Africa, and Asia Pacific. Among these, the Asia Pacific market for environmental testing is expected to present the most promising growth opportunities to market players.
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Technology-wise, the preference for rapid environmental testing technology will significantly increase in the near future on account of its user-friendly, quick, and accurate results. Besides, the cost efficiency of rapid technology, when compared to the conventional ones, and the swift advancements in technologies around the world are projected to accelerate its adoption over the next few years.
Environmental testing is a process in which a series of tests are conducted on major resources that drive the life on earth in order to find the suitability of these resources for their regulated exploitation. Increased number of regulations and active participation of governments and regulatory bodies to tackle environmental issues are acting as primary drivers for the global environmental testing market.
Based on the sample, the market has been segmented into wastewater/effluent, soil, air, and water. The wastewater/effluent testing segment dominated the global environment testing market in 2015. It was followed by the soil testing segment in the same year. The wastewater segment is estimated to hold a significant share of the market during the forecast period. Generation of wastewater is poised to increase with the growth in industrial activities. This is projected to drive the market environmental testing. The rapid urbanization and industrial boom are responsible for increasing the air and water pollution. Growing number of automobiles running on non-renewable sources contribute significantly to the air pollution. Stringent policies by the governments and regulating bodies with regard to air and water pollution are projected to fuel the global environmental testing market.
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Based on contamination, the market has been segmented into microbiological, organic, heavy metals, residues, and solids. Among these, the organic contamination segment is estimated to constitute a prominent share of the market during the forecast period. In organic testing, volatile organic compounds (VOCs) are tested. The risk of health problems increases by breathing in even low levels of VOCs. Health concerns caused by organic contaminants are expected to drive the market for environmental testing.
Based on technology, the market has been segmented into conventional and rapid. The rapid technology segment is expanding, as this technology is quick, user-friendly, and accurate. It is more economical than the conventional technology. With the rapid growth in technologies around the world, the rapid technology segment of the global environmental testing market is projected to expand during the forecast period.
In terms of region, the market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The environmental testing market in Asia Pacific is expected to expand significantly during the forecast period, due to enormous growth potential in the region. Infrastructure construction, various energy-related projects, and growing awareness about environmental issues such as pollution are the factors estimated to drive the market during the forecast period. Development of new and transformation of existing environmental policies by governments is also estimated to boost the market in the region. The market in India is projected to expand at a higher growth rate, due to government initiatives and the demand for development of waste handling infrastructure. This is a key driver for the environmental testing market in the country. Asia Pacific is likely to be followed by Latin America during the forecast period. North America, which includes the U.S. and Canada, dominated the global environmental testing market in 2015. The trend is expected to continue during the forecast period. The governing organizations in the region have enforced various environment protection policies. North America is likely to be followed by Europe during the forecast period.
Major players operating in the global environmental testing market include Eurofins Scientific, AB Sciex, SGS S.A., Bureau Veritas, and Agilent Technologies Inc. Other players with strong presence in the market are Intertek Group PLC, ALS Limited, AssureQuality, Romer Labs, and R.J Hill Laboratories Ltd.