PORTLAND, Oregon, October 17, 2018 /PRNewswire/ --
Increase in water pollution due to rapid industrialization, rise in prevalence of waterborne diseases, and favorable government policies would drive the growth of the global water quality monitoring systems market.
Allied Market Research published a report, titled, Water Quality Monitoring Systems Market by Component (pH Sensors, DO Sensors, Temperature Sensors, Turbidity Sensors, and Others) and Application (Utilities, Industrial, Commercial, and Residential): Global Opportunity Analysis and Industry Forecast, 2017-2025. The report offers detailed insights on the top investment pockets, drivers & opportunities, changing trends, key segments, and competitive scenario across various geographies. According to the report, the global water quality monitoring systems market garnered $3.81 billion in 2017 and is estimated to reach $6.69 billion by 2025, growing at a CAGR of 7.3% from 2018 to 2025.
Rise in water pollution due to rapid industrialization, increase in prevalence of waterborne diseases, and supportive government policies propel the growth of the market. However, lack of awareness in rural areas along with high installation & maintenance costs restrain the market growth. On the other hand, emergence of new technologies and demand for innovative systems would create opportunities for the market players.
The pH sensor segment contributed nearly one-third of the total market share in 2017 and is expected to maintain its lion's share through 2025. Moreover, this segment would register the highest CAGR of 7.7% from 2018 to 2025, owing to the applicability of pH sensors in a wide range of applications in various sectors. The market research report also offers detailed analysis of several components including DO sensors, temperature sensors, turbidity sensors, and others.
Utilities segment to dominate in terms of revenue by 2025
Utilities segment accounted for nearly half of the total market share in 2017 and will continue to be the largest revenue contributor throughout the forecast period, owing to their growing demand in storage, transportation, and treatment processes. However, the residential segment would grow at the fastest CAGR of 8.3% from 2018 to 2025, owing to the rising pollution of drinking water and increasing prevalence waterborne diseases. The other end users analyzed in the research include industrial and commercial segments.
Rise in water pollution, rapid urbanization, and increase in consumer awareness regarding water quality monitoring systems are key factors that would enable the Asia-Pacific water quality monitoring systems market to grow at the fastest CAGR of 9.8% from 2018 to 2025. However, North America held the largest market share in 2017, contributing to more than one-third of the total share. This region is expected to maintain its lead position throughout the forecast period, owing to presence of leading market players and stringent government regulations.
Frontrunners of the industry
The major market players analyzed in the research include Danaher Corporation, General Electric Company, Evoqua Water Technologies, OAKTON Instruments, Horiba, Ltd., Shimadzu Corporation, Pentair, Uponor, Thermo Fisher Scientific, Inc., and Xylem Inc. New product launch has been the major strategy implemented by these market players. Moreover, they adopted various strategies such as expansion, collaborations, joint ventures, mergers & acquisitions, and others to gain a leadership status in the industry.
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