In 2018, the global market for water quality testing equipment was valued at approximately US$ 3.41 billion and is projected to expand at a compound annual growth rate (CAGR) of 5.93% during the period from 2019 to 2027, ultimately reaching around US$ 5.67 billion by 2027.
The recent expansion of the water quality testing equipment sector is largely attributed to the growing necessity for monitoring contamination levels in water bodies and ensuring the availability of safe drinking water. Notably, North America is recognized as the leading region in terms of market share within this sector.
There has been a consistent increase in the adoption of water quality testing equipment across various industries, government agencies, and commercial entities where water is a critical component of operations. Over the years, rapid urbanization and industrial growth have led to significant changes in the water ecosystem, resulting in imbalances between water supply and demand from consumers. The issue of water contamination has emerged as a significant consequence of both rapid and unregulated industrialization and urban development in both developed and developing nations. Contaminated water resources pose a substantial risk to both environmental and public health. Areas with inadequate sanitation and water supply systems are particularly vulnerable to a higher incidence of waterborne diseases. Additionally, global climate change has further exacerbated the challenges related to available water resources. These factors collectively support the anticipated growth of the water quality testing equipment market.
The Safe Drinking Water Act (SDWA) is overseen by the Environmental Protection Agency (EPA), which is responsible for enforcing and monitoring compliance with water quality regulations across the country. The EPA oversees localities, states, and water suppliers to ensure adherence to these standards. The Department of Natural Resources and the Department of Environmental Quality are tasked with the strict enforcement of the regulations established by the SDWA. Furthermore, the American Water Works Association (AWWA) plays a crucial role in setting standards and guidelines for the development of water infrastructure in the United States. This infrastructure includes water treatment plants, storage facilities, public utilities, and distribution systems. The implementation of stringent water quality standards is expected to further propel the growth of the water quality testing equipment market.
The overall size of the water quality testing equipment market has been determined through a combination of primary and secondary research methods. The research process begins with comprehensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data related to the market. This research also provides an overview and forecast for the global water quality testing equipment market, segmented by five key regions: North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. Additionally, primary interviews were conducted with industry stakeholders and experts to validate the data and analysis. Participants in this process typically include industry professionals such as vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the water quality testing equipment sector. Key players in the water quality testing equipment market include ABB Ltd., Agilent Technologies, AquaPhoenix Scientific, Inc., Danaher Corporation, Emerson Electric Co., Eurofins Scientific SE, General Electric (GE), Horiba, Ltd., Shimadzu Corporation, and Thermo-Fisher Scientific, among others.