Overall Idea About This Study:
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
Expected Revenue Surge:
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%.
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Global 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.
Market Size Estimation:
Both top-down and bottom-up approaches were used to estimate and validate the total size of the environmental testing equipment market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
# The key players in the industry and markets have been identified through extensive secondary research.
# The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
# All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
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.
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 major players in the environmental testing equipment analysis market include Agilent Technologies (US), Thermo Fisher Scientific (US), Waters Corporation (US), Shimadzu Corporation (Japan), 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.