Posted On: 2021-08-09
Potential of Hydrogen water quality analyzer acquired the largest revenue share in India industrial water quality analyzer market - 6Wresearch.
India industrial water quality analyzer market is projected to grow owing to launch of government schemes such as Jal Jeewan Mission and National Water Mission for water quality testing and mandatory measures taken by the state governments, district, panchayats and blocks to publish their water quality report, would augment the demand for product during the forecast period. India is currently ranked at 120th position out of 122 countries in the water quality index, as the country’s 70% of water is contaminated by industrial effluents and pollutants. The increased production activities from last decade along with disposal of industrial waste into water bodies across India has been one of the key reasons for the increased water contamination level and water-borne diseases such as cholera and diarrhea. The regulatory measures framed by the Indian government and the establishment of water monitoring stations are expected to reduce the level of water pollution and increase the water monitoring and testing network in the country.
India witnessed a staggering downward economic trend during the COVID-19 as the economic stability deteriorated, economic and production activities were at halt, supply chain disrupted in many sectors such as construction, manufacture, hospitality sector due to closure of international trade and international travel bans and therefore, the Indian industrial water quality analyzer market revenues declined during the pandemic.
According to 6Wresearch, the India Industrial Water Quality Analyzer Market size is projected to grow at a CAGR of 7.3% during 2021-27. India’s GDP is forecasted to grow at 1.5%-2.8% in the current fiscal year, which would be the slowest since 1991 economic reforms. The recovery packages provided by the government and the PLI scheme (Production linked incentive) would enable the small and medium sized manufacturers to revamp their production capabilities in the upcoming years. The increased spending on the ICT sector by the government would enable IoT enabled water quality testers, sensors and analyzers in the Indian market.
According to Aviral Khare, Research Associate, Research and Consulting, 6Wresearch, “The major consumers of water quality analyzers in India are government agencies, industries, laboratory, chemical and FMCG companies. The government agencies and industries have the highest demand for water quality analyzers, sensor, water quality monitoring kits and systems altogether. The Indian pharmaceutical ranks 3rd worldwide in production by volume. The pharma market of India is anticipated to reach $65 billion by 2024 which would in-turn elevate the demand for water quality analyzer, as they are employed at several stages of drug development processes. The ongoing pandemic is increasing the level of pharma production which led to increase in discharge of medical waste and chemicals into water bodies which would generate the demand for water quality analyzer in the coming years to ensure the standard of water quality. Therefore, the demand for water quality analyzers could elevate tremendously in the coming years from the pharmaceutical sector.”
According to Kajal Saraswat, Research Analyst, Research and Consulting, 6Wresearch, “The development of water quality monitoring stations across the coastal states of the country such as Andhra Pradesh, Tamil Nadu, Kerala, Gujrat etc. would fuel growth of water quality analyzer systems in the country. The “Make in India” initiative of the government would increase the number of local companies venturing in fast moving consumer goods (FMCG) industry which in-turn would elevate the demand for water quality analyzers. The specific parameters of Bureau of Indian Standards (BIS) for water sampling and testing methods would also generate the demand for water quality analyzers during the forecast period.”
“India Industrial Water Quality Analyzer Market (2021-2027)” provides an in-depth analysis with 12 figures and 3 tables covered in 69 pages. The India industrial water quality analyzer market report comprehensively covers the market by types. The india industrial water quality analyzer market outlook report provides an unbiased and detailed analysis of the India industrial water quality analyzer market trends, opportunities, high growth areas, and market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.