UV Disinfection Equipment Market to Garner $3.4 Bn, Globally, by 2026 at 15.0% CAGR, Says Allied Market Research
Cost effectivity compared to other disinfection methods, rise in concerns regarding safe drinking water, the advent of UV LED saves energy, and new government initiatives drive the growth of the global UV disinfection equipment market
PORTLAND, Oregon, Dec. 4, 2019 /PRNewswire/ -- Allied Market Research recently published a report, titled, "UV Disinfection Equipment Market by End-Use Industry (Residential, Commercial and Industrial), by component (UV Lamp, Controller Unit, Quartz Sleeve, Reactor Chamber and Others), by application (Water Treatment (Municipal, Residential and Commercial), Wastewater Treatment, Air Treatment (Healthcare Facilities, Residential & Commercial and Bio-Terror Agents), Food & Beverage Disinfection and Surface Disinfection), and by Marketing Channel (Direct Marketing & Indirect Marketing): Global Opportunity Analysis and Industry Forecast, 2019–2026". According to the report, the global UV disinfection equipment industry was pegged at $1.1 billion in 2018 and is projected to reach $3.4 billion by 2026, registering a CAGR of 15.0% from 2019 to 2026.
Chief reasons for market fluctuations
Cost effectivity compared to other disinfection methods, rise in concerns regarding safe drinking water, the advent of UV LED saves energy, and new government initiatives have boosted the growth of the global UV disinfection equipment market. However, low cost of conventional disinfectant and lack of residual ability of UV LED hamper the market. On the contrary, millennium development goals of the UN and need for air treatment on healthcare and chemical industries are expected to create lucrative opportunities in the near future.
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The UV lamp segment to manifest the fastest growth through 2026
The UV lamp segment is expected to portray the fastest CAGR of 15.6% during the forecast period, owing to an increase in demand for UV-C LED as it is mercury-free. However, the controller unit segment held the largest share in 2018, accounting for nearly one-third of the global UV disinfection equipment market, as it is the main operational component of the disinfection equipment.
The Residential segment dominated the market
The residential segment held the lion's share in 2018, contributing to more than two-fifths of the global UV disinfection equipment market, owing to a decline in freshwater resources and rise in demand for clean & safe drinking water in urban and rural areas. However, the commercial segment is expected to manifest the fastest CAGR of 15.8% during the forecast period, as UV disinfection equipment is used to treat irrigation water to make it free from plant pathogens such as bacteria, fungi, viruses, and nematodes.
North America held the largest share
The global UV disinfection equipment market across North America dominated in 2018, contributing to more than one-third of the market, owing to increasing incidences of pandemic diseases such as H1N1, chronic diseases and the aging population. However, the market across Asia-Pacific region is expected to register the fastest CAGR of 15.6% during the study period, owing to rising level of chemical toxicity in China and release of municipal and industrial wastes in water bodies in India, which reduced the safe drinking water to the entire population.
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Major market players
- Halma Plc
- Danaher Corporation
- Xylem Inc
- Severn Trent Plc
- Kuraray Co. Ltd.
- Australian Ultra Violet Services Pty. Ltd.
- Koninklijke Philips N.V.
- American Ultraviolet
- Xenex
- Atlantic Ultraviolet Corporation
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