Environmental Testing Market
Increasing efforts to establish a harmonious relationship with environmental preservation has led to rising amount of environment related regulations in various countries around the world. These regulations have resulted in huge benefits pertaining to averting illnesses and saving lives. These growing environmental regulations are propelling the need for thorough and impactful solutions in the global environmental testing market. undeniably effective impact of various governmental regulations related to ecological and environmental protection have significantly improved water and air quality in areas that faced environmental issues prior to the implementation of these regulations. These regulations have triggered a dire need for corporate players and industrial manufacturers to undertake testing, certification, and inspection of environmental samplings. This trend is anticipated to bolster the development of the global environmental testing market in coming years.
High capital investment required to undertake precise and sensitive analytical testing methods and solutions may hamper the growth of the global environmental testing market in near future. Advanced technologies such as spectrometry and high performance liquid chromatography provide accurate results but have high costs that cannot be procured by small and mid-sized industries. Advanced testing solutions in the global environmental testing market require extensive sample preparation and enterprises may face calibration issues while opting for them. This is also presents serious challenges for the expansion and development of the global environmental testing market.
Global Environmental Testing Market: Overview
The global market for environmental testing is experiencing a significant surge in its valuation, thanks to the increasing number of rules and regulations pertaining to the protection of the environment and the active participation of various governments and authorities in monitoring environmental conditions.
Going forward, the increasing instances of health issue caused by organic contamination are projected to boost this market substantially in the years to come. Other types of contaminations, such as microbiological, residues, heavy metals, and solids, are also projected to fuel the demand for environmental testing solutions across the world over the next few years.
The worldwide market for environmental testing reports its reach across North America, Eastern Europe, Western Europe, Latin America, the Middle East and Africa, and Asia Pacific. Among these, the Asia Pacific market for environmental testing is expected to present the most promising growth opportunities to market players.
Technology-wise, the preference for rapid environmental testing technology will significantly increase in the near future on account of its user-friendly, quick, and accurate results. Besides, the cost efficiency of rapid technology, when compared to the conventional ones, and the swift advancements in technologies around the world are projected to accelerate its adoption over the next few years.
Environmental testing is a process in which a series of tests are conducted on major resources that drive the life on earth in order to find the suitability of these resources for their regulated exploitation. Increased number of regulations and active participation of governments and regulatory bodies to tackle environmental issues are acting as primary drivers for the global environmental testing market.
Based on the sample, the market has been segmented into wastewater/effluent, soil, air, and water. The wastewater/effluent testing segment dominated the global environment testing market in 2015. It was followed by the soil testing segment in the same year. The wastewater segment is estimated to hold a significant share of the market during the forecast period. Generation of wastewater is poised to increase with the growth in industrial activities. This is projected to drive the market environmental testing. The rapid urbanization and industrial boom are responsible for increasing the air and water pollution. Growing number of automobiles running on non-renewable sources contribute significantly to the air pollution. Stringent policies by the governments and regulating bodies with regard to air and water pollution are projected to fuel the global environmental testing market.
Based on contamination, the market has been segmented into microbiological, organic, heavy metals, residues, and solids. Among these, the organic contamination segment is estimated to constitute a prominent share of the market during the forecast period. In organic testing, volatile organic compounds (VOCs) are tested. The risk of health problems increases by breathing in even low levels of VOCs. Health concerns caused by organic contaminants are expected to drive the market for environmental testing.
Based on technology, the market has been segmented into conventional and rapid. The rapid technology segment is expanding, as this technology is quick, user-friendly, and accurate. It is more economical than the conventional technology. With the rapid growth in technologies around the world, the rapid technology segment of the global environmental testing market is projected to expand during the forecast period.
In terms of region, the market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The environmental testing market in Asia Pacific is expected to expand significantly during the forecast period, due to enormous growth potential in the region. Infrastructure construction, various energy-related projects, and growing awareness about environmental issues such as pollution are the factors estimated to drive the market during the forecast period. Development of new and transformation of existing environmental policies by governments is also estimated to boost the market in the region. The market in India is projected to expand at a higher growth rate, due to government initiatives and the demand for development of waste handling infrastructure. This is a key driver for the environmental testing market in the country. Asia Pacific is likely to be followed by Latin America during the forecast period. North America, which includes the U.S. and Canada, dominated the global environmental testing market in 2015. The trend is expected to continue during the forecast period. The governing organizations in the region have enforced various environment protection policies. North America is likely to be followed by Europe during the forecast period.
Major players operating in the global environmental testing market include Eurofins Scientific, AB Sciex, SGS S.A., Bureau Veritas, and Agilent Technologies Inc. Other players with strong presence in the market are Intertek Group PLC, ALS Limited, AssureQuality, Romer Labs, and R.J Hill Laboratories Ltd.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.