Wilmington, Delaware, June 06, 2024 (GLOBE NEWSWIRE) -- Allied Market Research has recently published a report, titled, “Water Quality Instrument Market Size, Share, Competitive Landscape and Trend Analysis Report by Product Type, by Test Type, by End User: Global Opportunity Analysis and Industry Forecast, 2023-2032.” According to the report, the global water quality instrument market generated $4.4 billion in 2022, and is anticipated to generate $7.4 billion by 2032, rising at a CAGR of 5.5% from 2023 to 2032.
Prime Determinants of Growth
The increasing number of government initiatives & strict regulations for monitoring & testing water quality, rising population & industrialization worldwide, and the increasing awareness regarding environmental concerns are the factors expected to drive the growth of the global water quality instrument market in the forecast period from 2023 to 2032. However, as the production of advanced, precise water quality sensors is expensive, it may restrict market growth in the coming future. Contrarily, the growing demand for advanced monitoring & testing technologies and continuous innovations in sensor technology are expected to offer remunerative opportunities for the water quality instrument market expansion during the forecast period.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $4.4 billion |
| Market Size in 2032 | $7.4 billion |
| CAGR | 5.5% |
| No. of Pages in Report | 300 |
| Segments covered | Product Type, Test Type, End User, and Region |
| Drivers | Growing emphasis on water safety Increased industrial waste and pollution Government regulations for monitoring drinking water quality |
| Opportunities | Innovations in sensor technologies Increasing investments in water infrastructure |
| Restraints | High manufacturing costs |
Product Type: Bench-top Sub-segment to Flourish Immensely During the Forecast Period
The bench-top sub-segment accounted for the largest global water quality instrument market share of 57.5% in 2022 and is expected to hold major share by 2032. This is majorly owing to the growing demand for precise laboratory water testing, regulatory compliance needs, and technological advancements like automation & connectivity. These factors boost bench-top instruments’ prominence for research, environmental monitoring, and industrial applications.
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Test Type: TOC Sub-segment to Account for Majority of Market Share by 2032
The TOC sub-segment held the major market share of 27.9% in 2022 and is expected to continue to dominate during the forecast period. This growth is mainly due to stringent regulations, increasing awareness of water contamination, and rising demand for wastewater & municipal water testing. TOC analyzers provide fast organic matter detection, crucial for semiconductor, pharmaceutical, and wastewater sectors.
End User: Laboratories Sub-segment to be the Most Dominant During the Forecast Period
The laboratories sub-segment held the largest market share of 27.2% in 2022 and is predicted to lead and grow at the highest CAGR of 7.4% during the forecast period. The dominant growth can be attributed to stringent regulatory standards, the rising need for accurate analysis, and growing awareness of water pollution’s impact on health. Besides, laboratories ensure water quality, which boosts the demand for advanced instruments to meet regulatory and environmental challenges.
Region: North America Market to Witness Prominent Growth by 2032
The North America water quality instrument market accounted for the largest share of 40.8% in 2022 and is predicted to continue to hold major share by 2032. The region’s growth is driven by government initiatives on water pollution, stringent regulatory measures, and collaborative efforts to reduce industrial, urban, and agricultural pollutants. These factors increase the demand for water quality monitoring products in the North America market.
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Leading Players in the Water Quality Instrument Market:
- Sea-Bird Scientific
- Hanna Instruments
- Xylem, Inc.
- Honeywell International Inc.
- Evoqua Water Technologies LLC
- LaMotte Company, Inc.
- HORIBA Group
- Jenco Instruments Inc.
- Heron Instruments Inc.
- Mettler Toledo
The report provides a detailed analysis of the key players of the global water quality instrument market. These players are employing various strategies including launching new products, entering collaborations, expanding operations, forming joint ventures, and signing agreements, all aimed at boosting their market share and securing their competitive position across different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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