Latin America Water Quality Monitoring Market 2023-2030
MARKET OUTLOOK
The water quality monitoring market in Latin America is estimated to advance with a CAGR of 7.42% in the forecast period from 2023 to 2030, according to the study by Triton Market Research. Brazil, Mexico, and Rest of Latin America are assessed in the market in this region.
According to the World Water Council, the lack of sewage treatment has polluted one-third of the water in Latin America and the Caribbean. Moreover, nearly 160 million tons of waste is generated every year in South America, which amounts to 12% of the total waste produced globally. In Brazil, over 5 million residents lack access to safe drinking water.
The Development Bank of Latin America estimates that nearly $80 billion will be spent on developing the sewerage infrastructure and about $33 billion on wastewater treatment by 2030. The growing number of supportive government initiatives for water quality monitoring is expected to foster the growth of the studied market in the coming years.
Non-profit organizations such as Caminos de Agua have initiated programs for rainwater harvesting, ceramic filtering, and water & groundwater quality monitoring, among others. Since 2012, the organization has continuously sampled & tested water quality derived from rural wells and also urban taps.
It has tested over 280 sites throughout the nation, and also collaborates with community groups such as Pozo Ademado Community Services (SECOPA) and United Communities for Life and Water (CUVAPAS) to educate the masses about water quality problems. It has also collaborated closely with research departments at the University of Guanajuato, Texas A&M University, Northern Illinois University, and Kansas State University with the objective of undertaking and validating these studies. These initiatives are expected to bolster the market growth.
COMPETITIVE OUTLOOK
The eminent players engaged in the water quality monitoring market include Pentair Plc, Danaher Corporation, Horiba Ltd, Teledyne Technologies Inc, and Emerson Electric Co.
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