The global water testing and analysis market is expected to grow with the CAGR of approximately 6.5% during the forecast period 2016-2023. The increasing regulatory support for high standard maintenance is boosting the growth in the global water testing and analysis market. Furthermore, raising industrial application due to increasing demand for water across industries such as pharmaceuticals, food and beverages and other industries is also boosting the growth in the global water testing and analysis market. According to Ministry of Water Resources India, it is estimated that by the end of 2025, in India the demand for water across industries will rise to 80 billion cubic meters, including (industries+ energy sector) which was around 41.4 billion cubic meters in 2010 for (industries + energy sector). Hence, the growing demand for water across industries is boosting growth in the global water testing and analysis market. However, high environmental and climatic condition influence and lack of capital investment are the major factor that is restricting the growth of the global water testing and analysis market.
Geographically, North America held a major share for water testing and analysis market, in terms of revenue in 2016. Rapid increase in investment in water testing and analysis by government and private funding is one of the key factor which is attributing towards the large share of the North American market. Moreover, the presence of various key players such as Agilent Technologies Inc. (US), Danaher Corporation (US), Emerson Electric Co. (US), General Electric Company (US), Honeywell International Inc. (US), etc. are also boosting growth in the North America water testing and analysis market.
The growth in global water testing and analysis market is also influenced by the presence of major players such as ABB Ltd. (Switzerland), Agilent Technologies Inc. (US), Danaher Corporation (US), Emerson Electric Co. (US), General Electric Company (US), Honeywell International Inc. (US), Horiba, Ltd. (Japan), LaMotte Company (US), Mettler-Toledo International Inc. (US), Perkin Elmer Corp. (US), etc. Product launches, Mergers & acquisitions etc. are some crucial strategies adopted by the major players to gain competitive advantage.
The global water testing and analysis market is segmented into product and application. The product segment is segmented into conductivity sensors, dissolved oxygen analyzer, Ph meters, toc analyzers, and turbidity meters. Moreover, the application segment is further segmented into environmental, government, industrial and laboratory, the growing water demand across industrial application is one of the key factors that is adding growth in the global water testing and analysis market application segment.