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Environmental Testing Market size was valued at USD 7.95 billion in 2019 and is poised to grow from USD 8.62 billion in 2023 to USD 17.67 billion by 2031, growing at a CAGR of 8.4% in the forecast period (2024-2031).

The market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions. 'Eurofins', 'Intertek', 'Alex Stewart', 'Bureau Veritas SA', 'ALS Limited', 'SGS SA', 'Agilent Technologies, Inc.', 'Thermo Fisher Scientific Inc.', 'Asurequality Limited', 'Mérieux Nutrisciences Corporation', 'Romer Labs Division Holding GmbH', 'R J Hill Laboratories Ltd.', 'Symbio Laboratories Pty Ltd.', 'Microbac Laboratories, Inc.', 'Pace Analytical Services, LLC', 'Element Materials Technology Group Limited', 'Exova Group Limited', 'UL LLC', 'LGC Limited', 'Suburban Testing Labs', 'Environmental Testing, Inc.'

The key factor that drives the industry growth includes stringent environmental regulations pertaining to cleaner fuels to fuel-air testing demand. Environmental regulations have saved countless lives and prevented illnesses, particularly through the reduction in airborne particles. Environmental regulations have significantly improved air and water quality, particularly in places that were formerly polluted. Environmental samples analyzed by the government and manufacturing companies have been subjected to testing, inspection, and certification as a result of government regulations and legislation. Inspection, sampling, and testing services of environmental samples to determine the presence of pollutants and toxins have been regulated by regulatory authorities. These organizations have implemented a variety of programs to raise awareness and establish testing standards in order to assure environmental safety and reduce the health hazards linked with pollution; which is expected to positively influence the environmental testing industry growth during the forecast period.

One of the key trends in the environmental testing market is the increasing demand for environmental testing from various industries. Increased industrialization in regions such as the Asia-Pacific and Africa has increased awareness among the people regarding environmental pollution and degradation. As a result, various environmental protection legislation has been enacted, creating a significant opportunity for the environmental testing market. In the next five years, various changes and new environmental safety standards are projected to be implemented, mostly in developing economies such as the Asia-Pacific area, due to increased pollution and environmental contamination. The continued development of new testing methods for contaminants such as pesticide residues, heavy metals, and organic compounds is likely to drive the environmental testing market forward.

The Environmental Testing Market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. In 2021, the North American region held the most substantial share of the market. The regional growth of the market is attributed to the numerous initiatives taken by authoritative entities in North American countries mainly the US and Canada. The US's environmental situation has improved over time. Environmental testing laboratories in Canada are constantly working to enhance air quality, and the Mexican government's continued financing to assure wastewater treatment is likely to fuel the industry in North America. Also, the US has a well-developed environmental testing market, and it is expected to have the largest market share over the projection period.

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Global Environmental Testing Market

Product ID: SQMIG20L2032