Environmental protection has been a concern for the global economies. Government regulations and policies play a key role in determining and improving the environment. There are internationally agreed environmental policies to address global concerns, such as air pollution, water pollution, managing hazardous wastes, and climate change. Further, as the reduction in greenhouse gas (GHG) emissions is much needed globally, the need and implementation of policies that promote monitoring of pollutant levels will be noticed.
Meticulous Research®, in its latest publication on the environmental monitoring market, states that the global market is expected to grow at a CAGR of 7.0% from 2021 to 2028 to reach $25.95 billion by 2028. Such a rise in international and national environmental policies for environment protection & sustainability is expected to boost the use of environmental monitoring products.
The growth of the global environmental monitoring market is mainly attributed to increasing government funding towards environmental sustainability, development of policies and initiatives to reduce environmental pollution levels, rising installations of environmental monitoring stations, and increased adoption of environmental monitoring products by the public and private companies. In addition, the use of IoT technology and nanotechnology provides lucrative opportunities for the market’s growth. However, trade barriers on environmental technologies in the emerging economies and slow adoption and implementation of pollution control policies hinder the market’s growth.
To provide efficient analysis, Meticulous Research® has segmented this market by product (sensors, [analog sensor, digital sensor], environmental monitors [fixed monitors], environmental software), sampling (continuous monitoring, intermittent monitoring, passive monitoring, active monitoring), application (air pollution monitoring, water pollution monitoring, soil pollution monitoring, noise pollution monitoring), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa).
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Geographically, North America is expected to account for the largest share of the environmental monitoring market in 2021, closely followed by Europe and Asia-Pacific. However, Asia-Pacific is slated to register the highest growth during the forecast period primarily due to increasing implementations of environmental monitoring and protection policies by governments in the region and increasing compliance from industrial facilities towards environmental monitoring regulations laid down in respective countries. Also, the increasing importance of the performance evaluation, which further helps to keep track of policy implementations and efforts by industries to comply with environmental safety regulations, contributes to the growth of this market.
Based on component, the particulate detection segment is expected to account for the largest share in 2021 due to rising levels of air pollution due to increasing industrialization and urbanization and increasing government restrictions to prevent air pollutants from exceeding the prescribed limits.
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Based on application, the air pollution monitoring segment is expected to account for the largest share of the environmental monitoring market in 2021. The growth of the segment can be attributed to factors such as the growing air pollution levels globally, consequent need for developing environment-friendly industries to control industrial pollution, and increasing focus of governing bodies to put forth strict regulations and policies to control pollution due to rapid industrialization.
The report provides competitive intelligence in terms of financials, growth strategies, product portfolios, and geographical presence on some of the key players in this market, including Danaher Corporation (U.S.), Thermo Fisher Scientific Inc. (U.S.), Merck KGaA (Germany), Agilent Technologies, Inc. (U.S.), TE Connectivity Ltd. (Switzerland), Siemens AG (Germany), Emerson Electric Co. (U.S.), Honeywell International Inc. (U.S.), Teledyne Technologies Incorporated (U.S.), Horiba, Ltd (Japan), Shimadzu Corporation (Japan), Testo SE & Co. KGaA (Germany), ACOEM Group (France) among others.
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