With Market Size Valued at $8 Billion by 2026, it`s a Healthy Outlook for the Global UV Disinfection Market
SAN FRANCISCO, Nov. 16, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "UV Disinfection - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 6; Released: October 2021
Executive Pool: 401
Companies: 59 - Players covered include Advanced UV, Inc.; American Ultraviolet, Inc.; Atlantic Ultraviolet Corporation; Atlantium Technologies Ltd.; Australian Ultra Violet Services Pty. Ltd.; Evoqua Water Technologies LLC; Halma plc (UK); Hitech Ultraviolet Pvt. Ltd.; Lumalier Corporation; Trojan Technologies Group ULC; ULTRAAQUA A/S; UVO3 Ltd.; uv-technik Speziallampen GmbH; Xylem, Inc. and Others.
Coverage: All major geographies and key segments
Segments: Component (UV Lamps, Ballasts / Controller Units, Reactor Chambers, Quartz Sleeves, Other Components); Application (Water & Wastewater, Air, Other Applications); End-Use (Municipal, Residential, Commercial, Industrial)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Rest of Europe; Asia-Pacific; Rest of World.
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ABSTRACT-
Global UV Disinfection Market to Reach US$8 Billion by the Year 2026
UV disinfection equipment can be used for removing bacteria, mold, algae, biohazards, toxins and undesirable organic materials without using reagents and leaving residual taste. These systems are witnessing increasing adoption across a broad array of applications, including air, water and food disinfection. Growth in the global market is set to be driven by rising concerns over water quality and awareness regarding spread of various contagious diseases through air and water. The technology is anticipated to witness extensive uptake owing to its compelling merits like relatively low capital, operating and maintenance costs along with convenient installation and faster contact time. UV disinfection equipment is witnessing increasing applications, from water purification in households and disinfecting water supply of a city through to industrial wastewater treatment. UV disinfection technology ensures quality water and extends shelf-life of end products like cosmetics, establishing UV sterilization as a popular choice for diverse industry verticals. Furthermore, the COVID-19 pandemic has significantly boosted global adoption of the technology for disinfection applications to control transmission of the virus. The market is anticipated to receive a notable growth impetus from ongoing R&D activities intended to further improve performance and effectiveness of these systems.
Amid the COVID-19 crisis, the global market for UV Disinfection estimated at US$3 Billion in the year 2020, is projected to reach a revised size of US$8 Billion by 2026, growing at a CAGR of 17.8% over the analysis period. UV Lamps, one of the segments analyzed in the report, is projected to grow at a 19.8% CAGR to reach US$4 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Ballasts / Controller Units segment is readjusted to a revised 16.4% CAGR for the next 7-year period. This segment currently accounts for a 22.1% share of the global UV Disinfection market. The controller unit segment is likely to continue holding the leading position since controller units are responsible for managing the UV lamps' entire electrical output; and the UV lamps are utilized for UV disinfection equipment. The controller unit is also responsible for powering the lamp for producing UV-C light for disinfecting water.
The U.S. Market is Estimated at $1 Billion in 2021, While China is Forecast to Reach $1.9 Billion by 2026
The UV Disinfection market in the U.S. is estimated at US$1 Billion in the year 2021. The country currently accounts for a 28.4% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$1.9 Billion in the year 2026 trailing a CAGR of 22.4% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 15.2% and 15.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 15.2% CAGR while Rest of European market (as defined in the study) will reach US$2.3 Billion by the end of the analysis period. North America accounts for a key share in the market due to increasing concerns linked to health and environmental impacts pertaining to disinfection; increasing incidence of chronic diseases and pandemic diseases that include H1N1; increasing aging population; increasing concern regarding environmental pollution; and increased demand pertaining to UV extensive technology in various end-use industries such as water and wastewater treatment industry, and the food and beverage industry. The Asia-Pacific market is gaining from increasing attention of people on water and food hygiene, a major concern that has gained notable traction amid the COVID-19 crisis. The regional market is anticipated to receive a major contribution from China coupled with favorable macroeconomic scenario and increasing focus on implementation of smart water solutions including sophisticated water treatment.
Reactor Chambers Segment to Reach $1.4 Billion by 2026
In the global Reactor Chambers segment, USA, Canada, Japan, China and Europe will drive the 15.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$452.4 Million in the year 2020 will reach a projected size of US$1.3 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$183.8 Million by the year 2026. More
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