Feb 12 2008
The world environmental testing equipment market has experienced steady growth in recent times because of the growth of alternative fuel technologies and rising demand from the Asia Pacific region. Vendors must maintain a global perspective since the sale of environmental testing equipment expects to increase across all regions, not just the Asia Pacific.
New analysis from Frost & Sullivan, World Environmental Testing Equipment Markets, finds that the market earned revenues of $653.3 million in 2007 and estimates this to reach $919.3 million in 2012.
If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants with an overview of the World Environmental Testing Equipment Markets, then send an e-mail to David Escalante, Corporate Communications, at [email protected], with your full name, company name, title, telephone number, e-mail, address, city, state and country. Upon receipt of the above information, an overview will be sent to you by e-mail.
“The progression of alternative fuel technology is the single biggest driver for the world environmental testing equipment market,” notes Frost & Sullivan Research Analyst Vijay Mathew. “Alternative fuel technology, especially solar and fuel cell technology is progressing at a very rapid pace and vendors will need to keep pace with these advancements in order to remain competitive.”
The growing demand from the Asia Pacific region for environmental test equipment drives the market. With manufacturers becoming more cost conscious, most test equipment vendors and end-users have shifted base to the region, especially the electronics manufacturing industry.
The highly fragmented market with well over 80 participants worldwide, has led to fierce competition. The market for environmental testing has become more narrowly focused than it has in the past. In recent years, the smaller companies have been focusing on niche segments and more specialized aspects of environmental testing.
“Apart from pricing pressure another big challenge that vendors in the environmental testing equipment market have been facing is keeping pace with rapidly evolving technologies, especially in the alternative fuel technology,” says Mathew. “For testing fuel cells, many factors need to be taken into consideration such as the electronics associated with the chamber, safety issues and so on.”
With technological advancements taking place at a very rapid pace, especially in the electronics and fuel cells segments, end-users expect more sophisticated and innovative equipment. Investing more in R&D will help environmental testing equipment companies keep pace with the latest technological trends and satisfy the demands of their customers.
World Environmental Testing Equipment Markets is part of the Test & Measurement Growth Partnership Service program, which also includes research in the following markets: World mechanical test equipment markets, World non-destructive test equipment markets, World X-ray instrumentation markets, North American analytical laboratory services markets. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available.