Global Water Quality Monitoring Market | Analysis 2030
As per Triton’s analysis, the global water quality monitoring market attained $5420.38 million in 2022. It is anticipated to register a CAGR of 5.51% during 2023-2030.
A recent study by Triton Market Research titled ‘Global Water Quality Monitoring Market’ includes the Global Analysis and Forecasts by Application (Utilities, Residential, Industrial, Commercial, Other Applications), by Component (Temperature Sensors, Turbidity Sensors, pH Sensors, DO Sensors, Other Components), and Regional Outlook (Asia-Pacific, Europe, Middle East and Africa, Latin America, North America).
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Triton Market Research’s report indicates that the global water quality monitoring market is likely to advance at a CAGR of 5.51% during the forecast years 2023-2030, reaching a revenue worth $8275.72 million by 2030.
With the continuous growth in the world’s population, the demand for clean water has increased. And to support human, animal, and plant life, governments, corporates, and other organizations around the world are increasingly investing in water quality monitoring (WQM) instruments to ensure sufficient clean water supply. This has contributed to the growth of the studied market.
However, WQM systems are only economically feasible for small-scale uses, such as home gardening to increase the output of speciality crops or horticulture. One of the biggest obstacles to the market's expansion is the high cost of these systems.
The market for water quality monitoring is primarily split into two segments: components and applications. The market is divided into utilities, residential, commercial, industrial, and other applications based on application. On the other hand, the market is made up of several components such as DO, pH, turbidity, temperature, and others.
Latin America is anticipated to observe the fastest growth in the global market in the forecasted duration. Infrastructural development in urban residential sectors as well as the increase in citizens’ disposable income, majorly drive the growth of the WQM market in the region. Furthermore, various favorable government initiatives & regulations have encouraged the deployment of these systems in the regional market.
The prominent players operating in the water quality monitoring market include Thermo Fisher Scientific Inc, Shimadzu Corporation, Xylem Inc, Emerson Electric Co, Agilent Technologies Inc, Pentair Plc, Evoqua Water Technologies Corp, Horiba Instruments Inc, Teledyne Technologies Inc, and Danaher Corporation.
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Question & Answer: Water Quality Monitoring Market
Question 1: What factor has contributed to the water quality monitoring market’s growth?
Answer: With the continuous growth in the world’s population, the demand for clean water has increased. And to support human, animal, and plant life, governments, corporates, and other organizations around the world are increasingly investing in water quality monitoring (WQM) instruments to ensure sufficient clean water supply. This has contributed to the growth of the studied market.
Question 2: What factor hinders the growth of the global market?
Answer: The prices of WQM systems, however, are viable only for small-scale applications like home gardening to improve horticulture or specialty crop yield. The high cost of these systems is a major hindrance in the path of market growth.
Question 3: Which region is expected to grow the fastest in the global market?
Answer: Latin America is anticipated to observe the fastest growth in the global market in the forecasted duration. Infrastructural development in urban residential sectors as well as the increase in citizens’ disposable income, majorly drive the growth of the WQM market in the region. Furthermore, various favorable government initiatives & regulations have encouraged the deployment of these systems in the regional market.
Question 4: Which are the prominent companies operating in the studied market?
Answer: The prominent players operating in the water quality monitoring market include Thermo Fisher Scientific Inc, Shimadzu Corporation, Xylem Inc, Emerson Electric Co, Agilent Technologies Inc, Pentair Plc, Evoqua Water Technologies Corp, Horiba Instruments Inc, Teledyne Technologies Inc, and Danaher Corporation.
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