MARKET OUTLOOK
Research conducted by Triton shows that the Asia-Pacific market for water quality monitoring will be fast progressing with 8.31% of CAGR in terms of revenue over the forecasting period from 2019-2027.
Japan, India, China, South Korea, ASEAN countries, Australia & New Zealand and countries in rest of APAC together form the Asia-Pacific’s water quality monitoring market. The market for water quality monitoring in China is expected to grow at a steady rate over the forecasting period. The rise in water pollution in the country, along with rapid urbanization are mainly responsible for fueling the growth of this market.
Water pollution levels in China at present are twice than what the government had initially predicted, since the impact of agricultural waste was not considered. The usage of farm fertilizing agents leads to the contamination of water. Water sources in China are found to contain high levels of fluorine, sulfate and arsenic, which can be linked to the high prevalence of stomach, liver and esophageal cancer in the country. However, it can be noted that the central government is consciously working towards controlling and remedying water pollution. Thus, the increasing regulations pertaining to the usage & treatment of water are expected to boost the growth of the market further.
COMPETITIVE OUTLOOK
The companies competing in the water quality monitoring market are Xylem, Inc., Uponor Corporation, Thermo Fisher Scientific, Shimadzu Corporation, Pentair PLC, Oakton Instruments, HORIBA Ltd. and General Electric Company.