Bottled Water Testing Equipment Market To Grow Substantially At A CAGR Of 5.20% during the forecast period 2024 – 2033
As per the current market research conducted by the CMI Team, the global Bottled Water Testing Equipment Market size is expected to record a CAGR of 5.2% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 7,628.3 Million. By 2033, the valuation is anticipated to reach USD 12,049.8 Million.
Bottled Water Testing Equipment Market: Growth Factors and Dynamics
- Stringent Regulations and Standards: Increasing regulatory requirements and quality standards for bottled water safety drive the demand for advanced testing equipment to ensure compliance with health and safety regulations.
- Rising Consumer Awareness: Growing awareness among consumers regarding waterborne diseases and contaminants fuels the demand for reliable and accurate testing methods, leading to the adoption of sophisticated testing equipment by bottled water manufacturers.
- Expansion of Bottled Water Industry: The expanding bottled water industry, driven by changing consumer preferences, urbanization, and health consciousness, creates opportunities for the bottled water testing equipment market as manufacturers strive to maintain product quality and safety standards.
- Technological Advancements: Ongoing advancements in testing technologies, such as rapid detection methods, automation, and sensor-based systems, improve the efficiency, accuracy, and speed of water testing processes, driving market growth.
- Emerging Markets and Infrastructure Development: Increasing consumption of bottled water in emerging markets, coupled with infrastructure development initiatives, particularly in regions with inadequate access to safe drinking water, drives the demand for testing equipment to ensure water quality and safety.
- Focus on Preventive Healthcare: The growing emphasis on preventive healthcare and wellness leads to increased scrutiny of water quality and contaminants, spurring investments in water testing equipment by healthcare institutions, regulatory bodies, and public health agencies to safeguard public health and prevent waterborne illnesses.
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Bottled Water Testing Equipment Market: Partnership and Acquisitions
- In 2022, The S.G.S. laboratory in Lakefield, Ontario, Canada, initiated quantitative wastewater testing for SARS-CoV-2 viral RNA. This method, combined with human testing delays, offers potential early outbreak detection, allowing testing of individual buildings in various settings from wastewater treatment plant inflows at the community level.
- In 2021, Intertek partners with Irish Water for a Strategic Modelling Study of Cork Harbour, in collaboration with Nicholas O’Dwyer Ltd. The study aims to develop a numerical hydrodynamic and water quality model, assessing Irish Water’s impact on the harbour’s receiving waters.
Bottled Water Testing Equipment Market: COVID-19 Analysis
The COVID-19 pandemic has significantly impacted the Bottled Water Testing Equipment Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:
- Disruption in Supply Chains: The COVID-19 pandemic disrupted global supply chains, leading to delays in the manufacturing and delivery of bottled water testing equipment due to restrictions on transportation and workforce shortages.
- Reduced Capital Expenditure: Economic uncertainties and budget constraints caused by the pandemic led to a reduction in capital expenditure by bottled water manufacturers, impacting investment in new testing equipment and upgrades.
- Ramp-up in Production: As the pandemic subsides and economic activities resume, manufacturers of bottled water testing equipment can ramp up production to meet pent-up demand and replenish inventories to address backlogs.
- Adoption of Remote Solutions: Implementing remote monitoring and diagnostics capabilities in testing equipment allows manufacturers to provide support and troubleshooting services to customers remotely, minimizing the need for on-site visits and ensuring continuity of operations during future disruptions.
List of the prominent players in the Bottled Water Testing Equipment Market:
- Thermo Fisher Scientific Inc.
- Danaher Corporation
- bioMérieux SA
- Suez Water Technologies & Solutions
- Agilent Technologies Inc.
- Shimadzu Corporation
- PerkinElmer Inc.
- Mettler-Toledo International Inc.
- HORIBA Ltd.
- Bruker Corporation
- LaMotte Company
- MilliporeSigma (Merck KGaA)
- Palintest Ltd.
- Anton Paar GmbH
- Hach Company
- Others
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