The study involved four major activities to estimate the current market size for environmental testing equipment. Exhaustive secondary research was done to collect information on the market and its different subsegments. The next step was to validate these findings, assumptions, and sizing with industry experts across value chain through primary research.
Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter market breakdown and data triangulation was used to estimate the market size of segments and subsegments
Key questions addressed by the report:
# Which of the product segment will dominate the global market in the next five years?
# Emerging countries have immense opportunities for the growth and adoption of environmental testing equipment, will this scenario continue in the next five years?
# Increasing environmental awareness in the emerging market is impacting the growth for developed markets. How will the pricing difference impact the overall market?
# What are the upcoming technologies in the global market?
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The global environmental testing equipment market is expected to reach USD 2.9 billion by 2023 from USD 2.1 billion in 2018, at a CAGR of 7.1%. Growth in the environmental testing equipment market is mainly driven by factors such as the rising levels of environmental pollution worldwide, increasing government regulations and initiatives for environmental protection, privatization of environmental testing services, and increasing focus on wastewater treatment.
Report Objectives:
# To define, describe, and measure the global environmental testing equipment analysis market by product, application, and region.
# To provide detailed information about major factors influencing market growth (such as drivers, restraints, growth opportunities, and challenges).
# To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the global environmental testing equipment analysis market.
# To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players.
# To forecast the size of the market in North America, Europe, Asia Pacific (APAC), and the Rest of the world (RoW).
# To strategically analyze the market structure and profile key players and their core competencies3 in the global environmental testing equipment analysis market.
# To track and analyze competitive developments such as product launches, acquisitions & expansions, partnerships, agreements & collaborations, in the environmental testing equipment analysis market.
North America is expected to dominate the environmental testing equipment market during the forecast period
Geographically, North America is expected to dominate the global environmental testing equipment market in 2018, while the Asia Pacific region is expected to register the highest CAGR during the forecast period. The high growth in this region can be attributed to the rising outdoor air pollution levels, the availability of government funding, and stringent environmental monitoring regulations.
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The major players operating in the environmental testing equipment market include Agilent Technologies (US), Thermo Fisher Scientific (US), and Shimadzu Corporation (Japan). Other players involved in this market include Waters Corporation (US), Bruker (US), PerkinElmer (US), SCIEX (a subsidiary of Danaher) (US), JEOL (Japan), Analytik Jena (Germany), and Merck KGaA (Germany).
The analysis of market developments between 2016 and 2018 showed that market players adopted growth strategies such as product launches, strategic acquisitions, expansions, partnerships, agreements, and collaborations to strengthen their product portfolios and maintain a competitive position in the environmental testing equipment analysis market.
Recent Developments:
# In March 2018, Agilent established a new logistics hub in Shanghai to enable rapid delivery of the company’s instrument parts, supplies, and consumables to laboratories in China.
# In August 2016, Shimadzu acquired SINC (SINC do Brasil Instrumentaçâo Cientifica Ltda.) to strengthen its analytical and measuring instruments business in Brazil.
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