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(Wireless-NewsWire.Com, June 30, 2020 ) Market Overview
• The Global Water quality sensor Market is expected to grow at a CAGR of 6.5% during the forecasting period (2020-2027).
• The growing water pollution owing to the increase in the industries all around the world, coupled with the stringent government regulation on wastewater disposal, is anticipated to drive the Water Quality Sensor market in the forecast period.
• An electronic device designed to sense and monitor quality as well as to identify the presence of various physical parameters such as salinity, chemical composition, PH, turbidity, temperature, and other impurities such as parasites, virus is called as water quality sensors. The development of these sensitive products was mainly due to rise pollution, chemical leakages, and degraded soil quality. Water quality sensors are majorly installed at the water treatment plant, distribution systems, and are also helpful for producing data to streamline the process for management, based on which various vital decisions are followed. The sensors are so capable that even a minute change in the water quality leads to the contamination warning to the systems.
• The report covers all the major trends and drivers playing a vital role in the growth of the global Water Quality Sensor market. The global Water Quality Sensor market has been segmented based on Application and Region.
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Market Dynamics
• The global Water Quality Sensors Market is primarily driven by the rising importance of water, rising problems for rise in water pollution due to industrialization, increase in prevalence of waterborne diseases, and surge in government obligations. The U.S. government established regulations and minimum standards such as the Clean Water Act (CWA) and Safe Drinking Water Act (SDWA), to protect water sources from contamination. This has fueled the demand for water quality monitoring system.
• However, the high production cost of these sensors will be hampering the growth of the Water Quality Sensor market for the forecast period.
Market Segmentation
• By Application, the global Water Quality Sensor Market is segmented into Groundwater, Drinking water, Wastewater, Aquaculture, Coastal, Laboratory, and Other. In 2018, the groundwater segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the use of improved technologies in the manufacturing of water quality sensors will play a significant role in the groundwater segment to maintain its market position. However, due to rising aquaculture industry will make the market for aquaculture segment to grow with a higher CAGR for the forecast period.
Regional Analysis
• By geography, the global Water Quality Sensor Market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA).
• APAC provides a large number of growth opportunities for water quality sensor manufacturers. The presence of many pharmaceutical and F&B companies in the region has increased the need for water treatment plants. Moreover, lack of proper sanitation and ecosystem deterioration in many developing countries in APAC has reduced the availability of clean water. These factors are driving the growth of the water quality sensor market in APAC. And the rise in the industrialization in APAC coupled with the stringent regulation of government for proper water disposal.
• However, North America is after Europe in terms of the market share of Water Quality Sensor Market, due to the increasing number of households with swimming pools in them coupled with the rise in automatic pool cleaning systems which has water quality sensors for accessing the water quality. In 2017, According to the Association of Pool & Spa Professionals, there are approximately 10.4 Million residential swimming pools, with that number expected to grow in coming years and hence, the market for swimming pool water treatment equipment market will grow for the forecast period.
Competitive Analysis
• Key players are adopting strategies such as investing in R&D, new product launches, expansion in distribution channels to stand out as strong competitors in the market. Global Water Quality Sensor Market is a fragmented market with the presence of various global and regional players in the market. The major players include Danaher Corporation, Evoqua Water Technologies, General Electric Company, Horiba Ltd, and OAKTON Instruments. Other key players in the market include Pentair, Shimadzu Corporation, Thermo Fisher Scientific Inc, Uponor, and Xylem Inc.
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