Global Environmental Monitoring Market: Ongoing installations of environment monitoring stations and government initiatives are driving the market.

Published Date: 16/05/2021

The environmental monitoring market is estimated to grow at a CAGR of 4.5 % to reach USD 18.1 billion by 2027 from USD 13.3 billion in 2020. Rapid population growth and industrialization across the globe have increased the emissions of volatile chemicals, toxic gases, PM, and biological components, thereby raising air, water, soil, and noise pollution levels. The rise in carbon emission levels is more prominent across developing countries (such as China, India, Brazil, and Mexico) primarily because of their rapid industrialization as well as limited compliance to pollution monitoring & control regulations.

The petrochemical industry covers crude oil producers and petrochemical refineries involved in crude oil processing for the production of petrochemical products. These industries are often associated with significant risks in terms of environmental pollution (such as oil spills in marine bodies, coal, or gas-based power generation and toxic chemicals produced as a by-product of crude oil processing). Therefore, several governments across the globe are increasingly enacting stringent laws for effective pollution monitoring and control. As a result, these companies utilize a wide range of pollution monitoring equipment for air pollution measurement and control.

While several developing countries have begun to implement environmental protection policies and initiatives, much work is still required in this area. This is evident from inconsistencies in regulations and standards in emerging countries with regard to the manufacturing, sales, and exports of pollution monitoring products. For instance, the environmental technology market in China was hampered due to inconsistent regulations and standards, a lack of proper guidelines, fragmented bureaucratic organization, and intense emphasis on economic growth, leading to misaligned incentives and regulatory competition across regions.

High purchase costs, a lack of stringent regulatory norms, and maintenance costs associated with environment monitoring instruments have slowed the implementation of environmental protection programs, especially in developing countries such as Africa, India, China, and Russia. Various emerging countries have also been reluctant to adopt stringent and legally binding pollution control measures, as they seek to sustain their economic growth.

A lack of robust education systems to train skilled professionals in pollution monitoring & control and limited R&D infrastructure to develop affordable monitoring technologies in developing countries further hamper the implementation of effective pollution monitoring & control reforms. Currently, the growth of the environmental monitoring products market across emerging nations (such as China, Brazil, and Malaysia) is hindered by high export tariffs for environmental monitoring products to other nations (such as the US and Europe).

The market is dominated by a few globally established players such as Agilent Technologies (US), Danaher Corporation (US), Thermo Fisher Scientific (US), Shimadzu Corp. (Japan), and PerkinElmer Corporation (US). Other prominent companies include General Electric (US), Honeywell International (US), Horiba (Japan), Merck KGaA (Germany), and Siemens (Germany).

This report covers the environmental monitoring market across five major geographies—North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. North America is expected to command the largest share of the environmental monitoring market, mainly due to an increase in government funding for the establishment of environmental monitoring stations and the stringent regulations in the region. Additionally, technological advancements in the field of environmental sensors and growing government initiatives in the area of pollution control have supported the market growth.