Future Prospects of Global Laboratory Proficiency Testing Market

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Laboratory Proficiency Testing Market  The global Laboratory Proficiency Testing Market is estimated to be valued at US$ 1.29 billion in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 - 2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: Laboratory proficiency testing involves evaluating the performance of laboratories for a given scope of testing through inter-laboratory comparisons. It helps assess the quality and competence of laboratories by determining reproducibility and accuracy of test results. Proficiency testing products are used by laboratories to determine method validity and accuracy, and improve testing processes. Market Key Trends: One of the major trends in the laboratory proficiency testing market is the growing number of accredited medical laboratories. Accreditation assures compliance with ISO 15189 and ISO/IEC 17025 standards, which require participation in proficiency testing programs. Acc...
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Water Turbine Market: Introduction and COVID-19 Impact Analysis

Hydro turbine is another name for a water turbine. The heart of any hydroelectric power facility is the water turbine. It's a rotational machine that turns water's kinetic and potential energy into mechanical work. Water turbines generate energy with minimal environmental impact. Water turbines are considered clean power producers since they have little impact on the environment. Water turbines are powered by renewable energy. In order to meet the rising need for energy, some countries have begun to build power plants. Water turbines with high capacity are used to generate electricity. Traditional power generation technologies rely on fossil fuels. Fossil fuel, on the other hand, is a nonrenewable energy source. Its use pollutes the environment.

Governments have been forced to boost power producing capacity due to rising population and urbanisation. The rising demand for power around the world, as well as the increased carbon footprint and global warming, has prompted a shift toward renewable energy sources. One of the primary factors driving the growth of the water turbines market is the shift toward unconventional methods of power generation. Furthermore, the arctic regions face harsh winters, and electricity producers are forced to turn to expensive methods of power generation to meet their needs, necessitating a transition to renewable sources in these areas. Government rules aimed at reducing pollution have boosted the global market for water turbines even further.


Water Turbine Market
Water Turbine Market


COVID-19 Impact on Water Turbine Market

Due to disruptions in the supply chain of raw materials such as concrete and turbines, the coronavirus epidemic has harmed investment in the hydropower industry. Due to production halts, workforce shortages, and transportation restrictions, hydropower projects that rely on local suppliers for large volumes of concrete and other materials during the building phase have been unable to meet demand.

Construction has been allowed to proceed in several nations, with contractors adhering to public health norms like social separation and self-isolation. However, development will always be slower.

The water turbines market is projected to be hampered in the near future due to the slowing and cancellation of several hydropower projects due to supply chain disruptions and a labour shortage.

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