Overview:
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.
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Expected Revenue Growth:
The environmental testing equipment market is expected to grow from USD 2.1 billion in 2018 to USD 2.9 billion by 2023, at a CAGR of 7.1% during the forecast period.
Major Growth Boosters:
Growth in the market is primarily driven by factors such as 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.
Research Methodologies Followed:
Secondary Research:
In the secondary research process, various secondary sources such as Hoovers, D&B, Bloomberg Business, and Factiva have been referred to, so as to identify and collect information for this study. These secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, gold standard & silver standard websites, regulatory bodies, and databases.
Primary Research:
The environmental testing equipment market comprises several stakeholders such as environmental testing equipment & consumable manufacturing companies, suppliers & distributors of environmental testing equipment, equipment raw material suppliers, research institutes and academic centers, environment protection agencies and institutes, agricultural analysis companies, market research companies. Various primary sources from both, the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. Following the breakdown of primary respondents.
Geographical Growth Scenario:
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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Global Leaders:
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).
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