Water & Air Quality Testing Services in the US - Industry Market Research Report

Fresh Air: Greater Regulation of Air and Water Quality Will Continue to Drive Testing Demand

Companies in the Water and Air Quality Testing Services industry test water and air quality, including pH tests and tests to detect the presence of substances like asbestos, bacteria, heavy metals and pesticides. Industry revenue depends on new construction, government regulation and government funding, and consumer and business spending. Over the past five years, growing downstream demand has generated revenue growth for industry companies. Moreover, most companies have long-term client contracts and experience steady demand due to quality regulation. In 2020, however, business activity crashed amid COVID-19, resulting in a contraction in downstream demand from industrial and consumer goods sectors that caused a sizable revenue contraction. The publisher expects revenue to expand over the five years to 2023 at a CAGR of 0.1% to $2.3 billion, while stagnating in 2023 alone. The Water and Air Quality Testing Services industry tests water and air for pH levels and the presence of asbestos and other substances, such as bacteria, mold, nitrates, mercury, pesticides, volatile organic compounds and inorganic chemicals. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.