Business

Water Testing and Analysis Market Will Generate New Growth Opportunities By 2024

Water testing and analysis entails several and varied types of tests carried out to measure various attributes of water to determine its utility in various industries. Properties of water such as its radioactivity, turbidity, conductivity, dissolved gas content, and pH are examined in water testing and analysis. Water testing and analysis is primarily performed to determine the usability of water in industries such as chemicals, food and beverage, pharmaceuticals, electronics, power, and wastewater treatment. These industries have different requirements from water testing and analysis services, leading to the availability of a diverse range of water testing and analysis services in the global market.

The report studies the key segments and driving and restraining factors acting upon the global water testing and analysis market. The impact of each influential factor is examined and the hierarchy of the market by each criterion is provided in the report. The competitive dynamics of the global water testing and analysis market are also described in the report, with major players operating in the market profiled with respect to their business and financial details. The global water testing and analysis market is driven primarily by the rising demand for water of the appropriate grade in the industries mentioned above. The increasing awareness about the quality of water in industries that directly influence human health, such as food and beverage and pharmaceuticals, is a major factor driving the global water testing and analysis services market. Rising regulatory support for maintaining high standards in water quality in the industries mentioned above is also a beneficial factor boosting the global water testing and analysis market, as is the rising attention being paid to the effects of disposed wastewater on human, animal, and overall ecological health in the surroundings of the disposal site.

The major opportunities for companies operating in the global water testing and analysis market arise in the form of the high unmet needs in the industries mentioned above, particularly in emerging economies. Despite the widespread water testing infrastructure and strict regulations put in place in developed countries, significant gaps still exist. The unmet need is even higher in developing countries, where regulatory support is often lacking in practice or sometimes even in theory. Capitalizing on these unmet needs remains a major opportunity for players operating in the global water testing and analysis market.

Developed regions such as North America and Europe dominate the demand from the global water testing and analysis services market. The stringent water quality standards in these regions have forced players in several industry verticals to utilize water testing and analysis services, providing a strong boost to the market. North America is expected to remain the largest regional segment of the global water testing and analysis market, followed by Europe, during the forecast period.