Market Introduction and Definition
Electrical conductivity meters are used to guage the conductivity of liquid/solution. This device is majorly used by the laboratories for testing electrical conductivity of the water bodies. Laboratories constantly collect multiple water samples for testing water. The test result provided by the device throws light on bundle of information which includes ionic strength and concentration of the different ions present in the solution.
Apart from its utilization by sample testing laboratories, product finds its position in industries where constantly waste water treatment is performed such as pharmaceuticals, metallurgical industry, pollution boards etc.,
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Electrical Conductivity Meters Market Forecast and CAGR
Historical: Demand for the water testing equipment has surged over the past-half decade i.e., FY2016 to FY2020 owing to the rise in concerns of changing water quality and spread out of water pollution to other water bodies. Rise in GDP ratio over water treatment and testing by the regional governments across the globe has strengthened the demand for conductivity meters.
Conductivity meters are not only procured by regional governments but also by industries as a mandate to test the effluent released into the water bodies. Stringent laws in developed economies has paved way for mandated procurement of these device for continuous testing of the treated effluent water.
FY2020-FY2021 Timeline:
Rising cognizance of water testing over this period has bolstered the demand for the water testing equipment including electrical conductivity meter. COVID-19 has shrunk majority of the markets but in the perspective of water testing kits and equipment, demand has plummeted owing to the regional government’s inclination to test the water bodies. Uncontrolled release of the water by industries in developing economies has been reported by many non-government bodies which has forced the governments to procure the water testing machines including conductivity meter to test water.
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Rise in pharmaceutical industry growth especially Active Pharmaceutical Ingredients (API) production growth over this term has paved way for the strong market growth of water testing equipment such as pH meters, electrical conductivity meters, hardness meters etc.
Forecast: Market forecast is divided into three terms, short-run, medium term and long-run forecast period
Short-term: Short-run period lasts for 2years which is Q3 FY2021 to Q3Fy2023. Over this term, sales of the product is anticipated to grow at a strong rate of 5% year on year.
Medium-run: Over this period demand is projected to slow down and reach to moderate levels owing to gradual normalization.
Long-run: Introduction of other substitutes might hinder the growth of the conductivity meter sales.
What is Driving Demand for Electrical Conductivity Meters?
Water treatment industry is the backbone for driving the demand for electrical conductivity meters. Not only water treatment industry but also industries such as pharmaceutical, metallurgical, chemical and power among other industries has paved way for strong sales of the electrical conductivity meters.
Macroeconomic policies regarding waste water control and securing pure water for citizens has bolstered the demand for the electrical conductivity meters across the regions.
Europe Electrical Conductivity Meters Market Outlook
Europe has strong technological investment portfolio compared to other regions. Countries such as Germany, France, Italy, United Kingdom, Russia and Austria mostly invested in water testing devices based technology. The demographical information regarding conductivity meter technological growth provides a clear image of long-run sales growth.
Despite, technological foray countries have observed a major growth in terms of product price. Over the past-half decade, pricing of conductivity meter has shot up by more than 4% paving a way for strong price growth over long-run forecast period.
China Electrical Conductivity Meters Market Outlook
Asia Pacific has favored the production of majority of goods owing to the strong trade winds supporting the price of the product. In terms of conductivity meter, China has fared better than developed economies by channeling the conductivity meter at a lower cost. Other factors such as regional players with product line pricing has been mentioned in detail in the report.
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Who are the Key Manufacturers and Suppliers of Electrical Conductivity Meters?
Leading manufacturers of electrical conductivity meters across the region are
- Extech Instruments
- Bante Instruments
- PCE Instruments
- Omega Engineering
- Keithley Instruments
- XS Instruments
- HORIBA
- Metrohm
- Hanna Instruments
- Apera Instruments.
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