MARKET OUTLOOK
The finding of the research conducted by Triton shows that the North America water quality monitoring market will grow progressively at a CAGR of 4.75% in terms of revenue during the forecast period 2019 to 2027.
The countries of the United States and Canada together form North America’s water quality monitoring market.
The Canadian water quality monitoring market showcases stable growth, due to the growth in demand for water treatment plants in the country. Canada stands at the 4th place in the list of 17 OECD countries with respect to water quality and obtains a ‘grade A’ performance. The measures taken by the country’s government for protecting freshwater for public & residential sectors are expected to contribute to market growth. For instance, with the help of the National Hydrometric Program (NHP), the Government of Canada collects data and analyzes water quantity data for water management in the country. This will lead to an increase in the adoption of water quantity monitoring systems in Canada.
Damage caused to the environment due to excess nutrients is less severe in the country. The Canadian government has also regulated wastewater discharges from municipal and industrial sewage treatment plants over the last three decades. With the availability of new information and technologies, measures to address excessive nutrient loadings have become more efficient; however, environmental and human health problems concerning nutrients can be seen across Canada.
COMPETITIVE OUTLOOK
The preeminent companies in the water quality monitoring market are Oakton Instruments, HORIBA Ltd., General Electric Company, Evoqua Water Technologies LLC, Danaher Corporation, Heron Instruments, Inc. and Emerson Instruments, Inc.