Market revenue in 2022 | USD 4,449.0 million |
Market revenue in 2030 | USD 7,147.9 million |
Growth rate | 6.1% (CAGR from 2022 to 2030) |
Largest segment | Spectrometer |
Fastest growing segment | Chromatograph |
Historical data covered | 2018 - 2021 |
Base year for estimation | 2022 |
Forecast period covered | 2023 - 2030 |
Quantitative units | Revenue in USD million |
Market segmentation | TOC Meter, PH Meter, Dissolved Oxygen Meter, Conductivity Meter, Turbidity Meter, Spectrometer, Chromatograph |
Spectrometer was the largest segment with a revenue share of 34.96% in 2022. Horizon Databook has segmented the Global water testing equipment market based on toc meter, ph meter, dissolved oxygen meter, conductivity meter, turbidity meter, spectrometer, chromatograph covering the revenue growth of each sub-segment from 2018 to 2030.
Water is an essential resource in daily life and is largely used to carry out industrial and construction processes. According to the U.S. Geological Survey (USGS), in 2021, around 70% of the earth surface is covered with water, of which 96.5% is found in oceans, seas, and bays in the form of saline water. However, the remaining 3.5% is freshwater, which is used for daily activities.
Freshwater is obtained through various sources such as groundwater, rivers, streams, and lakes. Population growth, rapid urbanization, technological advancements, and infrastructure expansion have all increased global demand for fresh and processed water. The human population has grown more than doubled in the last 50 years resulting in high consumption of water.
According to the WHO report 2022, 1.6 billion people lacked access to safely managed drinking water services. Although water sources such as the Ganges and Brahmaputra provide significant quantities of freshwater in the Asia Pacific region, obtaining water from these sources is anticipated to be increasingly difficult as the region is home to around 60% of the global population as per the Asian Development Bank.
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