The environmental monitoring market is estimated to grow at a CAGR of 4.5 % to reach USD 18.1 billion by 2027 from USD 13.3 billion in 2020. Rapid population growth and industrialization across the globe have increased the emissions of volatile chemicals, toxic gases, PM, and biological components, thereby raising air, water, soil, and noise pollution levels. The rise in carbon emission levels is more prominent across developing countries (such as China, India, Brazil, and Mexico) primarily because of their rapid industrialization as well as limited compliance to pollution monitoring & control regulations.
The petrochemical industry covers crude oil producers and petrochemical refineries involved in crude oil processing for the production of petrochemical products. These industries are often associated with significant risks in terms of environmental pollution (such as oil spills in marine bodies, coal, or gas-based power generation and toxic chemicals produced as a by-product of crude oil processing). Therefore, several governments across the globe are increasingly enacting stringent laws for effective pollution monitoring and control. As a result, these companies utilize a wide range of pollution monitoring equipment for air pollution measurement and control.
While several developing countries have begun to implement environmental protection policies and initiatives, much work is still required in this area. This is evident from inconsistencies in regulations and standards in emerging countries with regard to the manufacturing, sales, and exports of pollution monitoring products. For instance, the environmental technology market in China was hampered due to inconsistent regulations and standards, a lack of proper guidelines, fragmented bureaucratic organization, and intense emphasis on economic growth, leading to misaligned incentives and regulatory competition across regions.
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High purchase costs, a lack of stringent regulatory norms, and maintenance costs associated with environment monitoring instruments have slowed the implementation of environmental protection programs, especially in developing countries such as Africa, India, China, and Russia. Various emerging countries have also been reluctant to adopt stringent and legally binding pollution control measures, as they seek to sustain their economic growth.
A lack of robust education systems to train skilled professionals in pollution monitoring & control and limited R&D infrastructure to develop affordable monitoring technologies in developing countries further hamper the implementation of effective pollution monitoring & control reforms. Currently, the growth of the environmental monitoring products market across emerging nations (such as China, Brazil, and Malaysia) is hindered by high export tariffs for environmental monitoring products to other nations (such as the US and Europe).
Agilent Technologies (US)
Danaher Corporation (US)
Thermo Fisher Scientific (US)
Shimadzu Corp. (Japan)
PerkinElmer Corporation (US). Other prominent companies include General Electric (US)
Honeywell International (US)
Merck KGaA (Germany)
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The Environmental Monitoring market in APAC is expected to hold a major market share during the forecast period as countries in APAC such as China, Japan, India, and South Korea have some of the largest manufacturing facilities wherein automation of manufacturing processes has been taken as the highest priority. Also, strong competition among consumer electronics companies in APAC is likely to boost the adoption of machine vision systems in the region. The growing awareness about and demand for high-quality and zero-defect products has fuelled the need for Environmental Monitoring in inspection-related applications in the manufacturing fields.
However, the outbreak of COVID-19 has significantly affected the manufacturing sector of APAC. As the neighboring countries are linked to one another through trade relations and supply chain the entire region is affected with the outbreak of COVID-19 which will have a significant impact on the said market in this region for the forecast period.
TABLE OF CONTENTS
Chapter 1. Executive Summary
Chapter 2. Research Methodology
Chapter 3. Market Outlook
Chapter 4. COVID-19 Impact On Environmental Monitoring Market
Chapter 5. Global Environmental Monitoring Market Overview, By Application, 2015 – 2027(USD Million)
Chapter 6. Global Environmental Monitoring Market Overview, By Distribution Channel, 2015 – 2027(USD Million)
Chapter 7. Global Environmental Monitoring Market Overview, By Geography, 2015 – 2027(USD Million)
Chapter 8. North America Environmental Monitoring Market Overview, By Countries, 2015 – 2027(USD Million)
Chapter 9. Europe Environmental Monitoring Market Overview, By Countries, 2015 – 2027(USD Million)
Chapter 10. Asia Pacific Environmental Monitoring Market Overview, By Countries, 2015 – 2027 (USD Million)
Chapter 11. Middle East & Africa Environmental Monitoring Market Overview, By Countries, 2015 – 2027 (USD Million)
Chapter 12. South America Environmental Monitoring Market Overview, By Countries, 2015 – 2027 (USD Million)
Chapter 13. Competitive Landscape
Chapter 14. Key Vendor Analysis
Chapter 15. Environmental Monitoring Market Cost Analysis
Chapter 16. Sourcing Strategy and Downstream Buyers
Chapter 17. Marketing Strategy Analysis, Distributors/Traders
Chapter 18. Market Effect Factors Analysis
Chapter 19. Future Outlook of the Market
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