Growing awareness regarding environmental concerns and a growing emphasis on water safety is anticipated to drive the growth of the global water quality instruments market during the forecast period. The North American region is projected to witness significant growth through 2032.
Wilmington, Delaware, June 06, 2024 (GLOBE NEWSWIRE) — Allied Market Research recently released a report, titled, “Water Quality Instrumentation Market Size, Share, Competitive Landscape and Trend Analysis Report by Product Type, by Test Type, by End User: Global Opportunity Analysis and Industry Forecast, 2023-2032.” According to the report, the global water quality instruments market generated $4.4 billion in 2022 and is projected to generate $7.4 billion by 2032, growing at a CAGR of 5.5% from 2023 to 2032.
Key determinants of growth
Increasing number of government initiatives and strict regulations for water quality monitoring and testing, increasing population and industrialization worldwide, and increasing awareness regarding environmental concerns are the factors expected to drive the growth of the global water quality instruments market. water quality in the forecast period of 2023. to 2032. However, as the production of advanced and accurate water quality sensors is expensive, it may restrict the market growth in the coming future. In contrast, increasing demand for advanced monitoring and testing technologies and continuous innovations in sensor technology are expected to provide rewarding opportunities for the expansion of the water quality instruments market during the forecast period.
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Report Coverage and Details:
|
Report coverage |
The details |
|
Forecast period |
2023–2032 |
|
Base year |
2022 |
|
Market size in 2022 |
4.4 trillion dollars |
|
Market size in 2032 |
7.4 trillion dollars |
|
CAGR |
5.5% |
|
No. of pages in the report |
300 |
|
Segments covered |
Product type, test type, end user and region |
|
leader |
Increasing emphasis on water security Increasing industrial waste and pollution Government regulations for monitoring the quality of drinking water |
|
OppORTuNiTy |
Innovations in sensor technologies Increased investments in water infrastructure |
|
RESTRICTIONS |
High production costs |
Product Type: High Bench sub-segment will boom tremendously during the forecast period
The high-end sub-segment accounts for the largest share of the global water quality instruments market of 57.5% in 2022 and is expected to hold the largest share until 2032. This is mainly due to the increasing demand for testing accurate water laboratories, regulatory compliance needs, and technological advancements such as automation and connectivity. These factors increase the importance of high-level instrumentation for research, environmental monitoring, and industrial applications.
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Test Type: TOC Sub-Segment to Calculate Largest Market Share by 2032
The TOC sub-segment held the major market share of 27.9% in 2022 and is expected to continue to dominate during the forecast period. This increase is primarily due to stricter regulations, increased awareness of water pollution, and increased demand for wastewater and municipal water testing. TOC analyzers provide rapid detection of organic matter, essential for the semiconductor, pharmaceutical and wastewater sectors.
End User: Laboratories sub-segment will be the most dominant during the forecast period
The laboratories sub-segment held the largest market share of 27.2% in 2022 and is projected to lead and grow at the highest CAGR of 7.4% during the forecast period. The dominant growth can be attributed to stringent regulatory standards, increasing need for accurate analysis and increased awareness of the impact of water pollution on health. In addition, laboratories ensure water quality, which increases the demand for advanced instrumentation to meet regulatory and environmental challenges.
Region: North America Market to witness significant growth by 2032
The water quality instruments market in North America accounted for the largest share of 40.8% in 2022 and is projected to continue to hold the largest share until 2032. The region’s growth is driven by government initiatives on water pollution, strict regulatory measures and cooperative efforts to reduce industrial, urban and agricultural pollutants. These factors increase the demand for water quality monitoring products in the North American market.
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Key players in the water quality instruments market:
The report provides a detailed analysis of the key players in the global water quality instruments market. These players are using various strategies including launching new products, entering into collaborations, expanding operations, forming joint ventures and signing agreements, all aimed at increasing their market share and securing their position. competitive in different regions. The report is valuable in highlighting the business performance, operating segments, product portfolio and strategic moves of the market players to display the competitive scenario.
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