Environmental Testing Market to Touch Valuation of $15.1 Billion by 2028 | Eurofins, SGS, and Bureau Veritas are Top 3 Players
Global environmental testing market size was valued at USD 8.76 billion in 2021, and it is expected to reach a value of USD 15.1 billion by 2028, at a CAGR of 8.10% over the forecast period (2022–2028).
Westford, USA, Dec. 07, 2022 (GLOBE NEWSWIRE) — As our world becomes increasingly industrialized, the demand for environmental testing services is growing. Whether it’s testing for air quality or water contamination, more and more businesses and organizations are recognizing the importance of making sure their operations are not harming the environment. The environmental testing market is being driven by regulations, such as the China RoHS Directive and the European Union’s Restriction of Hazardous Substances (RoHS) Directive, which mandate the testing of products for compliance with environmental standards. In addition, companies are increasingly aware of the potential risks posed by environmental contamination and are seeking ways to protect their products and operations from these risks.
While there are many different types of environmental testing, some of the most common include air quality testing, water testing, and soil testing. Air quality testing can be used to measure various pollutants in the air, including particulate matter, ozone, and carbon dioxide. Water testing can be used to detect contaminants such as bacteria, viruses, fungi, and pesticides. Soil testing can be used to assess the safety of soil for agricultural purposes or to determine if a construction site is suitable for building.
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In its analysis of the environmental testing market, SkyQuest found that the market is growing at a steady rate. This growth is being driven by increasing environmental regulations, heightened public awareness of environmental issues, and advances in technology. The report identified the following segments as being particularly important to the future growth of the industry:
- Regulatory testing: This segment is expected to grow at a CAGR of 8.5% per year, driven by stricter environmental regulations around the world.
- Consumer testing: This segment is expected to grow at a CAGR of 6.5% per year, driven by increased public awareness of environmental issues and a desire for cleaner products in the environmental testing market.
- Industrial testing: This segment is expected to grow at a CAGR of 8.8% per year, driven by advances in technology that allow for more accurate and efficient testing.
North America to Continue Holding Over 40% Revenue Share of Global Environmental Testing Market
Our research shows that the North American market is the largest, accounting for over 40% of global revenue. Europe is the second largest market, followed by Asia-Pacific. The market in Latin America is relatively small but is expected to grow at a faster rate than other regions over the next few years. The leading players in the environmental testing industry are Eurofins, SGS, and Bureau Veritas. These companies hold a significant share of the global market and are well-positioned to benefit from future growth.
Europe environmental testing market employs around 150,000 people and supports around 8,700 businesses. SkyQuest’s analysis shows that the majority of the environmental testing businesses are small and medium-sized enterprises (SMEs), with just over half (51%) having fewer than 10 employees. The report also found that the majority of environmental testing businesses (78%) are based in England, with the South East (30%), East Midlands (19%) and Yorkshire and The Humber (9%) being home to the largest concentrations of firms.
So what does this all mean for the future of the environmental testing market in Europe? Well, the report’s analysts believe that there is significant potential for further growth in the sector, particularly in areas such as water quality testing, emissions testing and noise pollution testing. They also believe that there is scope for more consolidation within the market, with larger firms acquiring smaller businesses in order to increase their market share.
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Key Challenges in Global Environmental Testing Market
1. Limited resources: Environmental testing often requires expensive equipment and trained personnel, which can be in short supply.
2. Time constraints: Environmental conditions can change rapidly, making it difficult to collect accurate data in a timely manner.
3. Accessibility: Some areas may be difficult or impossible to access for testing purposes.
4. Hazardous conditions: Testing in potentially hazardous environments (such as contaminated sites) can pose risks to personnel and equipment in the global environmental testing market.
5. disbelief: Some people may not believe that environmental problems exist or are as bad as reported, making it harder to gain support for testing and remediation efforts.
Eurofins, SGS, and Bureau Veritas are Top Players in Global Environmental Testing Market
Eurofins, SGS, and Bureau Veritas are three of the world’s leading providers of environmental testing services. With a global network of laboratories and experts, these companies offer a comprehensive range of services to help clients assess and manage their environmental risks.
Eurofins is a leading international provider of environmental testing and analytical services. With more than 940 laboratories in 59 countries, Eurofins offers a comprehensive range of services to support clients in the assessment and management of their environmental risks.
SGS is a world leader in global environmental testing market. With a network of over 2,700 offices and laboratories, SGS offers a comprehensive range of services to support clients in the assessment and management of their environmental risks. Each year, the company test and certify over 26 million products for compliance with international standards and regulations. Its services cover a broad range of areas including food safety and quality, environmental protection, social responsibility and sustainability.
As the world’s largest provider in the environmental testing market, the company offer a comprehensive range of services to support clients’ compliance with local, national and international regulations. It has over 30 years of experience in supporting companies in the oil and gas, power generation, chemicals, pulp and paper, mining and metals, pharmaceuticals, food and beverage industries. It primarily offers air emission testing, wastewater discharge monitoring, solid waste characterization and leachate testing. It also provides expert consulting on environmental compliance issues such as air permitting, wastewater discharge permitting and site remediation.
Bureau Veritas is a world leader in environmental testing and consulting. With a network of over 600 offices and laboratories across the globe, Bureau Veritas offers a comprehensive range of services to support clients in the assessment and management of their environmental risks.
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Top Players in Global Environmental Testing Market
- SGS SA (Switzerland)
- Eurofins (Luxembourg)
- Intertek (UK)
- Bureau Veritas (France)
- ALS (Australia)
- TÜV SÜD (Germany)
- Asure Quality (New Zealand)
- Merieux (US)
- Microbac (US)
- R J Hill Laboratories (New Zealand)
- Symbio (Australia)
- Alex Stewart (UK)
- EMSL Analytical Services (US)
- Hydrologic Associates (US)
- Environmental Testing, Inc. (US)
- Alpha analytical (US)
- Advanced Environmental Testing (US)
- American Environmental Testing Lab (US)
- Pace Analytical (US)
- AnaLabs (US)
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