The size of the world market for environmental testing, inspection, and certification was estimated at US$ 15,648.6 million in 2021 and is anticipated to grow to US$ 17873.8 million in 2022.
According to Future Market Insights, the global environmental testing, inspection and certification market is expected to represent a value of more than US$ 33.237 billion by the end of 2032 .
Future Market Insights states that the global market environmental testing, inspection and certification is expected to reflect a healthy CAGR over the forecast period of 2022 to 2032 .
The growth of the global environmental testing, inspection and certification market is primarily secured by various macroeconomic and microeconomic factors. Demand for environmental testing, inspection and certification services continues to grow in the global market as the need to provide product observations with stringent standards and regulations set by governments increases.
In addition, the rapid increase in consumption of various products, especially in developing countries, is further contributing to the growth of the global market in the field of environmental testing, inspection and certification.
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Growing demand for product quality and safety compliance has driven a surge in demand for environmental inspection, testing and certification services. Moreover, increase in counterfeiting and piracy activities is expected to positively impact the growth of the global market for environmental testing, inspection and certification.
Global market leaders are focusing on outsourcing services for testing, certification and inspection of their products. With increasingly stringent government regulations, internal testing is still relatively expensive to do.
Services for inspection, testing and certification services continue to surge in demand among third-party retailers for a variety of applications including consumer goods and manufacturing.
Agriculture industry representing key sectors
The growing need to ensure product safety and premium quality has made manufacturers choose to test their products globally. On the basis of product type, the testing segment is projected to hold the highest revenue share, accounting for a value of over USD 17.8738 billion by the end of 2022 . The certified product type segment is expected to witness a strong CAGR globally. market over the forecast period.
On an end-user basis, the agribusiness sector is expected to generate significant revenues, recording a value of over US$ 33.2379 billion by the end of 2032 . Conversely , the industrial product manufacturer product type segment is expected to register the highest CAGR. over the forecast period.
By sample type, the water testing segment is expected to witness strong revenue growth representing a value of over USD 17.8738 billion by the end of 2022. However, the waste testing sample type segment is expected to witness a healthy CAGR through 2032.
Depending on the type of test, the toxin segment is projected to generate significant revenue, recording a value of over US$ 33,237.9 Mn by the end of 2032 . On the other hand, the physical properties testing type segment is expected to register an impressive CAGR. forecast period.
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Sales through test products remain high
By test type, the toxin segment is projected to generate significant revenues of over US$ 33.2379 billion by the end of 2032. In contrast, the physical properties test type segment is projected to reflect a healthy CAGR in the global market through 2032. During the forecast period, the water testing sample type segment is expected to exhibit the highest revenue growth, recording above US$. 17873.8 Mn by the end of 2022 . In contrast, the waste testing sample type segment is expected to reflect a strong CAGR over the forecast period.
Growing demand for superior quality and safe products has led to a surge in product testing demand from organizations and manufacturers worldwide. Based on product type, the testing segment is expected to witness significant revenue growth of over USD 17.8738 billion by the end of 2022. In contrast, the certified product type segment is expected to register a strong CAGR throughout 2032. Based on end users, the agribusiness sector is expected to exhibit the highest revenue growth and is projected to account for more than USD 33,237.9 Million by 2032. end. However, the industrial products manufacturer product type segment is expected to reflect a healthy CAGR over the forecast period.
market player
Key players operating in the global market for environmental testing, inspection and certification market include:
Intertek Group, SGS SA, Yara International ASA, Bureau Veritas, Assure Quality, ALS Ltd, SCS Global, Exova Group, APAL Agriculture, RJ Hills Laboratories, Eurofins Scientific, TUV Nord AG, Danaher, GE Healthcare and Life sciences, SAI Global Limited , Agrolab Group, HRL Holdings Ltd, Cawood Scientific, SESL Australia ? EnviroLab.
Key Segments Covered in Environmental Testing, Inspection and Certification Market Analysis
By product type:
End User:
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By test type:
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Jul 13, 2023
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