New York, NY, July 18, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Environmental Testing Market by Sample (Wastewater/Effluent, Soil, Water, and Air), by Technology (Conventional and Rapid Method), and by Contaminant (Microbial Contamination, Organic Compounds, Heavy Metals, Residues, and Solids): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024” . According to the report, global environmental testing market was valued at approximately USD 8.83 billion in 2017 and is expected to generate revenue of around USD 14.18 billion by the end of 2024, growing at a CAGR of around 7.0% between 2018 and 2024.
Humidity can cause physical changes, such as swelling and embrittlement for some materials, this leads to the breaking of the product. Functional testing is mostly used for environmental testing throughout several stages of product development and production. A functional test is very important when monitoring is done continuously. Climatic and electromagnetic environmental testing needs a huge number of equipment and complex procedures. The environmental testing is carried out by simulating the service environment of the components in order to study fitness for the desired applications. Over the past years, the practice and use of soil testing have been extensively adopted in agribusiness and by the farmers. The potential to increase yields and profits is the main reason for soil testing.
Browse through 81 Tables & 23 Figures spread over 110 Pages and in-depth TOC on "Global Environmental Testing Market: Industry Type, Size, Share, Trends and Forecast 2016 – 2022”.
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The urban environment consists of potential stressors such as traffic, crime, dense crowds, and over-stimulation. The environmental law protects and improves the environment by controlling the pollutants released into the environment. The Environmental legal system is a set of laws and administrative rules which regulate relationships and conflicts between people concerned with the environment. Ministry of Environment & Forests (MoEF) is the organization in the Central Government administrative structure involved in the planning, coordination, promotion, and also implements environment and forest policies and programmes in India. The primary concern of the Ministry is to execute policies and programmes associated with the conservation of natural resources which includes biodiversity, lakes, forests, rivers, and wildlife that ensure the welfare of animals, and abatement and prevention of the pollution.
The environmental testing market is segmented on the basis of sample into wastewater/effluent, soil, water, and air. The wastewater/effluent segment held major revenue share in 2017, owing to the rising environment related concern for disposal & treatment of waste and regulations on disposal of wastewater/effluent. The water testing sample segment is anticipated to grow at highest CAGR over the forecast timeframe due to rising healthcare standards, increasing the need for clean water, and shortage in water supply.
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Based on technology, the environmental testing market has been segmented into the rapid and conventional method. The rapid technology segment is expected to generate major revenue share in 2017 and would continue its supremacy over the forecast period. The growth is attributed due to high accuracy, low turnaround time, sensitivity, and ability to test an ample of contaminants as compared to conventional technology are the foremost factors anticipated to drive the segment growth over the forecast period.
North America environmental testing market accounted for highest revenue share in 2017, due to increased safety for the population health and the environment from potential hazards of waste disposal and presence of various environmental protection agencies in the region. For instance, the Resource Conservation and Recovery Act (RCRA) is the primary law of the United States that govern the disposal of solid and hazardous waste. The Environmental Protection Agency (EPA) is responsible to develop and implement environmental regulations. EPA plans laws regarding environment protection to channel by the Congress and it has the supremacy to issue sanctions and levy fines.
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Europe held significant market share in the global environmental testing market. Environmental technology industries have seen rapid growth in recent years to become as one of the biggest sectors of EU economy. Environmental technologies help to measure, prevent, and correct environmental damage to soil, water, and air and solve issues related to waste, noise and damage to ecosystems. It helps the EU industry to reduce the emissions, generate less waste, and reduce cost. Such factors are expected to drive the industry growth in the region.
The Asia Pacific environmental testing market is expected to grow at highest CAGR over the forecast period. Increasing government and non-government initiatives to increase awareness levels regarding environment protection among people are expected to drive the industry growth. Environmental infrastructure investment requires of around USD 40 billion at present in APEC and it is expected to reach USD 200 billion by 2020.
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The Middle East and Africa are expected to experience lucrative growth in the future years. The growth is attributed due to increasing environmental problems and scarcity of water, air, land, and biodiversity resources.
Some of the key players operating in the environmental testing market include Bureau Veritas, Eurofins Scientific, AB Sciex, SGS S.A. and Agilent Technologies Inc. Other players with a strong presence in the market are Intertek Group PLC, R.J Hill Laboratories Ltd, AssureQuality, Romer Labs, and ALS Limited.
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This report segments the global environmental testing market as follows:
Global Environmental Testing Market: Sample Segment Analysis
- Wastewater/Effluent
- Soil
- Water
- Air
Global Environmental Testing Market: Technology Segment Analysis
- Conventional Method
- Rapid Method
Global Environmental Testing Market: Contaminant Segment Analysis
- Microbial Contamination
- Organic Compounds
- Heavy Metals
- Residues
- Solids
Global Environmental Testing Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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