The new water quality sensor market research from Technavio indicates negative growth in the short term as the business impact of COVID-19 spreads.
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Technavio has announced its latest market research report titled Global Water Quality Sensor Market 2020-2024 (Graphic: Business Wire)
Get detailed insights on the COVID-19 pandemic Crisis and Recovery analysis of the water quality sensor market.
“One of the primary growth drivers for this market is the increasing pollution adversely affecting the quality of drinking water”, says a senior analyst for the Industrials industry at Technavio. As the markets recover, Technavio expects the water quality sensor market size to grow by $ 917.28 mn during the period 2020-2024.
Water Quality Sensor MarketSegment Highlights for 2020
- The water quality sensor market is expected to post a year-over-year growth rate of 3.25%.
- Based on the application, the ground water segment led the market in 2019. The contamination of ground water due to the increased use of chemical fertilizers in agricultural lands and sewage from municipal drainages is driving the segment growth.
- The market growth in the segment will be significant during the forecast period.
- 34% of the growth will originate from the APAC region.
- The growth of the market in APAC is driven by the high concentration of pharmaceutical and F&B companies.
- China and Japan are the key markets for water quality sensors in APAC. Market growth in this region will be faster than the growth of the market in other regions.
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- The water quality sensor market size is expected to accelerate at a CAGR of almost 5% during the forecast period.
- The water quality sensor market is segmented by application (Ground water, Drinking water, Wastewater, Aquaculture, and Others) and geography (APAC, North America, Europe, South America, and MEA).
- The market is fragmented due to the presence of many established vendors holding significant market share.
- The research report offers information on several market vendors, including ABB Ltd., Campbell Scientific Inc., Cole-Parmer Instrument Co. LLC, Danaher Corp., Emerson Electric Co., Endress+Hauser Group Services AG, HORIBA Ltd., Libelium Comunicaciones Distribuidas SL, Siemens AG, and Thermo Fisher Scientific Inc.
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