Growing concerns regarding safe drinking water in developing nations and rise in demand for UVC lamps for air treatment and surface disinfection during the Covid-19 pandemic augment the growth of the global ultraviolet disinfection equipment market
PORTLAND, Oregon, July 8, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Ultraviolet (UV) Disinfection Equipment Market by End-Use Industry (Residential, Commercial, and Industrial), Component (UV Lamp, Controller Unit, Quartz Sleeve, Reactor Chamber, and Others), Application (Water Treatment, Wastewater Treatment, Air Treatment, Food & Beverage Disinfection, and Surface Disinfection), and Marketing Channel (Direct Marketing and Indirect Marketing): Global Opportunity Analysis and Industry Forecast, 2020–2027 ." According to the report published by Allied Market Research, the global ultraviolet disinfection equipment market garnered $1.3 billion in 2019, and is projected to reach $5.7 billion by 2027, registering a CAGR of 17.1% from 2020 to 2027.
Key determinants in the market-
Growing concerns regarding safe drinking water in developing nations and rise in demand for UVC lamps for air treatment and surface disinfection during the Covid-19 pandemic augment the growth of the global ultraviolet disinfection equipment market. Conversely, higher cost associated with UV lamps as compared to conventional disinfectants impedes the market growth. Nevertheless, growing adoption of far-UVC lamps for surface disinfection ushers new opportunities for the market players in the near future.
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The residential segment dominated the market in 2019-
Based on end-use industry, the residential segment accounted for the largest share in 2019, contributing to more than two-fifths of the global ultraviolet disinfection equipment market, and is estimated to maintain its dominant position during the forecast period. This is due increase in demand for clean and safe drinking water, owing to rise in population and decline in freshwater resources. Conversely, the commercial segment is estimated to portray the highest CAGR of 17.8% during the forecast period. This is attributed to its wide use in agriculture and horticulture applications to treat irrigation water to make it free from plant pathogens.
The controller unit segment to lead the trail throughout 2027-
Based on component, the controller unit segment held the largest share in 2019, holding nearly one-third of the global ultraviolet disinfection equipment market, and is expected to maintain the largest share throughout the forecast period. This is due to growing demand for smart controller unit. Nevertheless, the UV lamp segment is expected to register the highest CAGR of 17.7% from 2020 to 2027. This is due to surge in demand for UV-C lamps to be used for surface disinfection and air treatment.
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North America to rule the roost throughout 2027-
Based on region, North America dominated the global ultraviolet disinfection equipment market in 2019, accounting for more than one-third of the total market share in 2019, and will maintain its dominance throughout the forecast period. This is due to the development of new UV disinfection equipment such as cost-efficiency, more effective, environmentally friendly, easily to operate, and residue-free. However, Asia-Pacific is expected to grow at the highest CAGR of 17.6% from 2020 to 2027. This is owing to surge in demand for UV disinfection equipment over chemical-based techniques across the region.
Leading market players-
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