MARKET OUTLOOK
The water quality monitoring market in Latin America has been projected to grow in terms of revenue with 8.26% of CAGR in the forecasting years from 2019 to 2027, as per a report by Triton Market Research.
Mexico, Brazil and countries in rest of Latin America together constitute Latin America’s water quality monitoring market. It is expected that the rapid urbanization in Latin America would raise the demand for water and the need to conserve water for providing clean water to the urban areas, which in turn, would raise the deployment of smart meters for monitoring water usage and hence, drive the growth of the country’s water quality monitoring market.
Mexico’s market for water quality monitoring is expected to exhibit stable growth in the forecasting period. The Government of Mexico’s National Water Commission noted that the availability of water per inhabitant has decreased significantly since 1950. Domestic, commercial and industrial wastes contain various toxic contaminants and human pathogens, which if not managed properly, would lead to hazardous effects. Depending on several factors, these contaminants may seep into the groundwater. The Organization for Economic Cooperation and Development (OECD) has stated that the drinking water in most regions in the country is strongly or excessively contaminated, which has led to many residents in Mexico suffering from gastrointestinal problems. The growth in the incidences of diseases as a result of poor water management pushes the demand for water quality monitoring.
COMPETITIVE OUTLOOK
Major players engaged in the water quality monitoring market are Uponor Corporation, Shimadzu Corporation, Oakton Instruments, General Electric Company, Danaher Corporation, Emerson Instruments, Inc., LaMotte Company and Teledyne Technologies, Inc.