The global water testing and analysis market generated a revenue of $4060.2 million in 2017 and is expected to rise with a CAGR of 6.7% during the forecast period of 2018-2023. Among the different types of tests, the pH test generated the maximum market share of $1400.1 million in 2017 and is projected to rise in the coming years with a CAGR of 7% during forecast year of 2018-2023. Rapid industrialization and growing needs in developing countries has raised the demand for water testing and analysis. Also, the stringent regulations by various government bodies to maintain the water quality is also driving the market growth for water testing and analysis market.
What is Water Testing and Analysis?
Water testing is a process of assessing water quality. Water quality has to be tested regularly to determine the health of water. Water has various properties such as turbidity, dissolved gas content, radioactivity and water conductivity are measured through water testing and analysis. The quality of water is essential to many different industries and activities such as agriculture, fisheries, electronics, food, pharmaceutical aquaculture and forestry. The different types of water tests include physiochemical tests and bacteriological tests. The physiochemical tests are carried out by various methods such as titration, spectrophotometric methods, etc. These tests includes pH test, odor, turbidity test, BOD and TOC, radio activity test and dissolved oxygen test. The bacteriological tests involve the use of membrane filters and multi tube dilution method to determine the total coliforms and fecal coliforms.
What are the applications of Water Testing and Analysis?
Water testing is used in various industries such as mining, refineries, semiconductor, metals, pharmaceutical, food and beverage and several others. Water plays a critical role in pharmaceutical industry and thus has to be free from all the contaminants. The end user industry analysis of water testing and analysis market provides a complete detailed study of the market and the sectors involved in it. Water testing plays a major role in electronics industries as it requires ultrapure water for manufacturing and cleaning.
In electronics industry salinity testing is used to test water, it helps to test the amount of salt in water which will help in generating electricity. Salt diffused water is more efficient for generating electricity hence salinity tester are used to test salinity of water. Mining and refineries utilize large volume of water. The waste water generated from these industries are tested and treated in order to avoid pollution. Water quality is a priority for many industries hence with the growth of such industries is expected to expand the market size of Water testing and analysis industry.
Market Research and Market Trends of Water testing and Analysis:
It is known that high concentration of lead in drinking water can cause serious neural disorders. The present method to check the concentration of lead is sending the samples to laboratories equipped with detection technology. This method is expensive and time consuming. Thus, companies are developing a portable device which works along with the smart phone for detection of lead concentration in drinking water. This method will give quick results with high accuracy and low cost.
Due to the advancement in technology, the water testing market is focusing on using AI and machine learning techniques including neural networks and video analytics to detect the optical characteristics of water like color, odor, motion and other contaminants.
Dirty water is a serious health concern as it causes several diseases. In order to mitigate the level of contaminants, researchers are finding ways to filter out the tiniest impurities in water with the use of nano particles. As it is discovered that graphene eliminates the smallest impurities, manufacturers are trying to incorporate gold nano particles along with graphene sensors or films to exclude the contaminants by making the process more efficient.
Water is easily contaminated by arsenic and other metals that leach out of the soil during the mining process. All the current testing methods consume a lot of time to deliver the results. Many companies are focusing on development of low cost test strips to detect the life threatening contaminants in no time. This would help people to monitor the water and take preventive measures.
Who are the Major Players in Water Testing and Analysis Market?
The companies referred in the market research report are GE Power & Water, Global Treat, Inc., Horiba Ltd, Shimadzu Corporation, Thermo Fisher Scientific Inc. and 10 other companies.
The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2018-2023.
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