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the radon measurement instrument market size was valued at $0.5 billion in 2020, and is expected to reach $1.1 billion by 2030, registering a CAGR of 7.5%
PORTLAND, UNITED STATES, UNITED STATES, May 17, 2023 /einpresswire.com / -- Radon is a radioactive gas that is naturally present in the environment. It is a byproduct of the breakdown of uranium in soil, rock, and water and can enter homes through cracks in the foundation and other openings. Exposure to high levels of radon can lead to an increased risk of lung cancer and other health issues. As a result, many governments and organizations have adopted regulations that require the measurement and monitoring of radon levels in indoor environments.
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The radon measurement instrument market size was valued at $569.7 million in 2020, and is expected to reach $1,179.3 million by 2030, registering a CAGR of 7.5% from 2021 to 2030. The primary drivers of this growth are increasing government regulations and health concerns regarding radon exposure, technological advancements in radon detection instruments, and a growing market for residential radon measurement.
Government regulations are the primary driver of the market. Many countries have adopted regulations and guidelines to protect people from radon exposure. For example, in the United States, the Environmental Protection Agency (EPA) recommends that all homes be tested for radon levels. The EPA also recommends that people take action to reduce radon levels if they are above the action level. In the European Union, the European Commission has adopted a similar policy. In addition, many countries have adopted mandatory radon measurement regulations, such as in China, India, and Canada.
Technological advancements are also driving the market. Advancements in technology have enabled the development of more accurate and reliable radon detection instruments. Advances in sensor technology and the availability of sophisticated radon measurement systems have made it possible to accurately measure radon levels in residential and commercial environments. In addition, the development of compact and low-cost radon measurement systems has enabled consumers and businesses to measure radon levels with minimal investment.
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The residential radon measurement market is also driving growth in the radon measurement instrument market. The number of homeowners who are testing their homes for radon levels has been increasing, due to the growing awareness of the health risks associated with radon exposure. In addition, many residential radon measurement companies are offering services and products to help homeowners measure and monitor radon levels in their homes.
The major players profiled in the radon measurement instrument market include ABB, Bertin Instruments, Durridge, FJ Specialty, Ludlum Measurements, Inc., Pylon Electronics, Rad Elec Inc., SARAD GmbH, SunRADON LLC, and Tracerlab GmbH. Major players in the market have adopted product launch and business expansion as their key developmental strategy to offer better products and services to customers in the radon measurement instrument market.
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In conclusion, the global radon measurement instrument market is expected to grow at a CAGR of 5.8% from 2019 to 2030, reaching a market size of $1.4 billion by 2030. The primary drivers of this growth are increasing government regulations and health concerns regarding radon exposure, technological advancements in radon detection instruments, and a growing market for residential radon measurement.
David Correa
Allied Analytics LLP
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