The scarcity of safe drinking water is leading to serious concerns worldwide, thereby pushing the demand for water quality testing equipment. Increasing criticality of available water reserves conservation and increasing instances of water contamination are also influencing the demand growth of water quality testing equipment.
Moreover, the adverse impact of pollution on the ecosystem has forced the general population from developing and underdeveloped countries to turn towards available and accessible water resources, such as groundwater and lakes, to quench their thirst.
The need for water with specific properties for certain applications, such as agriculture, washing, transportation, chemical reactions, heat exchange, recreation, water industry, industrial applications, food processing, and medical applications among others is also expected to contribute to the growth of the water quality testing equipment market.
Water quality testing equipment plays a vital role in environmental monitoring and can enable specialists to foresee and gain from the natural processes in the environment and determine the human effects on an ecosystem. The quality of water changes drastically with changes in the topography, region, and environments, which creates the need for water quality testing equipment to ensure that it is safe for consumption or utilization.
Numerous factors, such as pollution, contamination due to harmful chemicals & metals, and contamination, hamper the usability of water for drinking, processing, and agriculture applications, among others. As a result, the demand for water quality testing equipment is constantly increasing for testing physical, chemical, as well as biological parameters.
Almost all the countries of the world have defined policies and have published their standards and regulations for ensuring the quality of water which ultimately boosts the growth of water quality testing equipment. These factors are driving the growth of water quality testing equipment.
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Various international organizations, such as the Environmental Protection Agency (EPA), European Drinking Water Directive, Australian Drinking Water Guidelines, and China's GB3838-2002, among others, are pursuing strict quality testing guidelines and parameters for water utilization. Countries that have not implemented these norms follow the guidelines set by the World Health Organizations (WHO).
All industries and other end users need to follow these regulations, for which they need to incorporate the use of water quality testing equipment for checking the quality of water. Stringent rules, as well as the need for fresh usable water across the world, is contributing to the growth of the water quality testing equipment market.
Several major, as well as minor manufacturers of water quality testing equipment, are in competition with each other in this highly fragmented market. The level of competition among the companies that manufacture water quality testing equipment is intense, owing to which these companies need to undertake several new paths as well as strategies to maintain their position in the water quality testing equipment market.
Moreover, the continuous discovery of new hazards, such as biological extortions and impurities, has created the need for the manufacturers of water quality testing equipment to constantly update their product offerings to cope with these hazards.
The Asia Pacific excluding Japan is estimated to achieve a noticeable share of the global water quality testing equipment market. Rapid urbanization, along with the increasing rate of industrialization in the region, is boosting the need for water that is suitable for various applications, and this is fuelling the market for water quality testing equipment.
China and India are expected to register high Y-o-Y growth during the forecast period of the study, i.e. 2018 to 2027. Various governments are undertaking initiatives to strengthen the policies regarding the water quality and its applications in the developing countries of APEJ, which is expected to drive the water quality testing equipment market during the forecast period.
Technologically advanced water quality testing equipment is witnessing high demand from end users. To maintain their position in the water quality testing equipment market, manufacturers are offering advanced and fully automated water quality testing equipment. The need for technologically advanced water quality testing equipment for the continuous monitoring of the quality of water is high, due to which the market is expected to witness a high CAGR during the forecast period.
The water quality testing equipment market is predicted to grow at 5.9% CAGR through 2032.
Europe water quality testing equipment market holds the highest revenue potential.
The water quality testing equipment market size is anticipated to be over USD 4.30 Billion in 2022.
The water quality testing equipment market is expected to surpass USD 7.63 Billion by 2032.
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