Industry Outlook

Water being the most vital and rapidly shrinking resource on earth, equipment required to test water quality experiencing a consistent growth registering a market value of US$ 3.38 Bn in 2017. The market projected to touch US$ 5.60 Bn marks in 2026 growing with a growth rate of 5.8% throughout the forecast period from 2018 to 2026. Exploration of new water sources and treatment of wastewater are the biggest factors encouraging the need for water testing equipment and the need is not expected to cease anytime soon in coming years. Consequently, the demand for water testing equipment market is only expected to grow along with its market value.

"Stiff Confrontation Separates the Three Water Testing Equipment by Close Quarters"

All the three testing equipment segmented by testing parameters run in close quarters in terms of market value in 2017. All three factors including physical, chemical and biological factors play a major role in quantifying the quality of water tested. Physical factors pH, total dissolved solids (TDS), turbidity, hardness and total organic carbon (TOC) among others are measured by physical parameter water testing equipment and are extensively used for residential, industrial, pharmaceuticals, and municipal water quality checks. Chemical parameter check includes checking presence of heavy and hazardous molecules of metals and other chemical elements plays a vital role in industries, healthcare and pharmaceuticals sectors. Although on the expensive side, biological parameter water testing equipment tests coliforms, biological oxygen demand (BOD) and chemical oxygen demand (COD). 

"Handheld Equipment made its Way Through Other Product Type to Claim its Supremacy"

Handheld and portable water testing equipment lead the market in terms of market value. Handheld equipment is the most widely used equipment across different end-use sectors owing to their convenience and small size. Although the testing range of such equipment is limited to some degree compared to portable and Benchtop equipment, handheld is preferred by most of the end-user including industrial, hospitality and agricultural sectors. Portable equipment trails handheld equipment by close market value. In terms of accuracy and precision, benchtop equipment beats other variants and hence extensively used in research & development and healthcare end-users. Despite all factors, handled water testing equipment projected to expand at a considerable rate owing to this rate of adoption across several end-use applications.

"Healthcare end-user is the Biggest Ally of Water Testing Equipment Market"

Healthcare end-user is the major contributor to global water testing equipment market closely followed by government and industrial end-user. Different sectors in healthcare including pharmaceuticals and water treatment are the major consumers of water testing equipment. These sectors require optimum quality of water to be used for healthcare services and any deviation can lead to serious repercussion. Government also contribute considerably to overall market share. Government incorporation of water testing equipment for checking the public water supply and wastewater treatment facilities uplifted the procurement of equipment under this segment. Industrial manufacturing & processing, research & development, and environmental organization also have a considerable share in water testing equipment market.

"Strict Regulation and Additional Quality Check at Every Level Lifted Water Testing Equipment Market in North America"

In 2017, America leads the global water testing equipment market followed by Europe and Asia Pacific in terms of market value. North America including the U.S. and Canada have strict regulation and guidelines with respect to quality of water. The water is checked for its quality of consumption and usage at every step and no deviation from standard value is accepted in these countries. This encouraged procurement of advanced water testing equipment for precise and accurate output at regular intervals. Europe claims a recognizable share as almost all the countries in Europe follows European Drinking Water Directive for water safety. Exploding population, growing awareness and scarcity of drinking water concentrate together with a perfect formula for growth of water testing equipment market in Asia Pacific. Consequently, Asia Pacific projected to grow with the fastest CAGR throughout the forecast period from 2018 to 2026.

"Water testing Equipment Manufacturers Feeling the Heat of Healthy Competition in Coming Years"  

With some of the top companies participating in the market, water testing equipment manufacturers expected to face intense heat in staying competitive. Companies are constantly updating their product portfolio with advanced and more precise testing capabilities. Perpetual introduction of state-of-the-art products encouraged companies to find new avenues to maintain their market position. Some of the water testing equipment manufacturing giants profiled in this research study include ABB Ltd., General Electric Company, Danaher Corporation, Thermo Fisher Scientific, Inc., Emerson Electric Co., Honeywell International Inc., Global Treat Inc., Horiba Ltd, Shimadzu Corporation, Agilent Technologies Inc., Tintometer Gmbh and Mettler-Toledo International Inc. among others.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Water Testing Equipment market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Water Testing Equipment market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Water Testing Equipment market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Water Testing Equipment market?
• Which is the largest regional market for Water Testing Equipment market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Water Testing Equipment market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Water Testing Equipment market worldwide?