Air and Water Monitoring Market to grow to $28 Billion Next Year
In 2017 sales of water monitoring equipment and services will be $17 billion and air monitoring services will be $11 billion.
Air and Water Monitoring Revenues (Image:McIlvaine Company)
Asia will be the leading region followed by the Americas. Chinese sales will be over $4 billion representing one-third of the entire Asian market.
Thermo Fisher has been in the Chinese air pollution monitoring business for decades. By one definition it is said to have a 70 percent market share of ambient air monitors used in Chinese cities. It sold its first mercury monitor in China more than ten years ago. The Thermo decision to locate its air pollution research center in China is testimony to confidence in its ability to protect intellectual property in the country.
The monitoring business is a small part of the total Thermo business, but has contributed to the 10 percent annual increase in revenue over the last five years. The EPS CAGR is an impressive 17 percent. Revenue growth has been 28 percent per year in China with sales of $1.4 billion last year.
The ambient market is growing fastest in developing countries where governments are investing in networks. However, in the U.S. there is a significant market for ambient networks purchased by power plants and industrial facilities which have to address new federal standards as well as embryonic standards in various states.
Source: The McIlvaine Company