The environmental monitoring market crossed US$ 16.3 billion mark in 2022 and is expected to hit US$ 26.31 billion by 2030, recording a CAGR of 6.1% during the forecast period.
Environmental monitoring market has been significantly growing with increasing stringency of environmental regulations globally.
The environmental regulatory bodies are increasingly focusing on reducing the environmental impact of various industries. New regulations are being proposed and framed regularly, to ensure minimal emission of greenhouse gases. Additionally, government of several countries are focusing on carbon neutral manufacturing, and are drafting legal frameworks for industries to adhere to. Such factors are driving environmental monitoring market. Furthermore, government agencies are focusing on reducing taxation on environmental monitoring products, in order to promote wider acceptance and regular usage. Such factors collectively are driving the environmental monitoring market. Nationwide Environmental Radiation Monitoring Program (RadNet), Clean Air Status and Trends Network (CASTNET), Village Green Project and Clean Air Markets are few of the ongoing environmental monitoring programs in the US. CASTNET national monitoring program was established for assessing trends in atmospheric deposition, pollutant concentrations, and ecological effects occurring from changes in air pollutant emissions. Several similar programs are being planned, to promote a safer environment, across North America and the globe. Enterprises are increasing their focus on environmental monitoring, to ensure their adherence to such laws.
The environmental monitoring market is segmented within the report into component, sampling method, application, and geography. Based on component, the environmental monitoring market is segmented into solutions and services. Based on sampling method, the environmental monitoring market is segmented into active, passive, continuous and intermittent. Based on application, the environmental monitoring market is segmented into air pollution, water pollution, soil pollution, and noise pollution. Geographically, the environmental monitoring market is sub-segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.
Government support is expected to provide great growth opportunities.
Environmental monitoring can be defined as a tool for assessing environmental conditions. It also can be used for sharing collected information with national policymakers or international forums and thus can support policy development and implementation. Several policymakers, across different nations, are laying additional stress on environmental monitoring. The same is been done to improve the environmental quality and decrease hazardous environment related diseases among others, thus promoting environmental monitoring market growth. Supportive government policies and acts are ensuring the increased uptake of environmental monitoring solutions and services. Resource Conservation and Recovery Act (RCRA) and Comprehensive Environmental Response Compensation and Liability Act (CERCLA) are major federal laws governing the same. Such trends are expected to widen the growth opportunities for environmental monitoring market.
Rising awareness on the adverse effect of pollution is a major factor accelerating the environmental monitoring market growth.
There has been tremendous rise in awareness, amongst enterprises and industries, pertaining to the adverse effects of pollution. Government regulations and enterprises’ requirements of corporate social responsibility (CSR) played crucial roles in advancing the same. Additionally, to improve the brand image and to promote the company as ‘green’, enterprises have been increasingly adopting environmental monitoring solutions and services, further promoting environmental monitoring market. Since 2012, in cooperation with the Hamburg Institute for Hygiene and Environment, GO Systemelektronik have been running an environmental measuring station on the river Elbe, for measuring the pollutant levels in the water. Furthermore, the rising awareness amongst consumers, regarding pollution and health hazards, have been prompting enterprises and industries to strongly adopt environmental monitoring. Consumers are preferring products from companies which are actively participating in CSR and are adopting manufacturing and packaging methods with low-environmental impact. Such trends are expected to promote the environmental monitoring market strongly.
Recent strategic developments in the Environmental Monitoring Market
The environmental monitoring market has undergone several significant developments, and a few of these have been mentioned below:
The environmental monitoring market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Danaher Corporation; Emerson Electric Co.; Honeywell International Inc.; PerkinElmer, Inc.; and Thermo Fisher Scientific are among the prominent players operating in the environmental monitoring market.
Target audience for the report:
Scope of the report:
In this report, the environmental monitoring market has been segmented on the basis of:
The List of Companies
- Danaher Corporation
- Emerson Electric Co.
- Honeywell International Inc.
- PerkinElmer, Inc.
- Thermo Fisher Scientific