by Ultraviolet (UV) disinfection equipment use short-wave ultraviolet light to kill or inactivate microorganisms in water and air by destroying their DNA. Commonly used for water disinfection in various applications such as municipal drinking water and wastewater treatment, ballast water treatment, residential and commercial applications. UV disinfection is a chemical-free process to disinfect water and does not leave any chemical residue. It is an effective solution to disinfect water from bacteria, viruses, and other pathogens. UV disinfection equipment helps ensure safe drinking water by eliminating waterborne diseases. It also finds increasing usage in air disinfection applications in hospitals and other institutions to curb the spread of infectious diseases. Growing concerns regarding water scarcity and the need for alternative disinfection methods are fueling the demand for UV disinfection equipment.
The global Uv Disinfection Equipment Market is estimated to be valued at Us$ 4.19 Bn in 2023 and is expected to exhibit a CAGR Of 4.5% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the UV disinfection equipment market is the growing demand from wastewater treatment applications. With rising urbanization and increasing volumes of wastewater, there is a growing need for advanced wastewater management and treatment infrastructure. UV disinfection systems are increasingly used as they provide an effective yet chemical-free solution to disinfect wastewater before being released into natural water bodies. Moreover, stringent regulations regarding wastewater discharge standards in various countries are augmenting the demand for UV disinfection equipment from this segment. Another prominent trend is the increasing adoption of UV disinfection equipment in air and surface disinfection amid the COVID-19 pandemic. Various healthcare facilities, corporate offices, and public places are deploying UV disinfection technology to curb the spread of coronavirus and other infectious diseases through air and on surfaces. This is expected to significantly propel the demand for UV disinfection equipment over the forecast period.
Porter’s Analysis
Threat of new entrants: Low capital requirement and technology barriers pose low threat of new entrants. However, established players dominate the market making it difficult for new players.
Bargaining power of buyers: Buyers have high bargaining power due to availability of substitutes and low switching costs. They can choose from various UV disinfection brands in the market.
Bargaining power of suppliers: The suppliers of UV lamps, ballasts, and other hardware components have moderate bargaining power due to limited supplier base and dependence of manufacturers on these components.
Threat of new substitutes: Moderate threat from new substitutes like chemical disinfection and advanced oxidation process. However, UV technology is more eco-friendly with no harmful by-products.
Competitive rivalry: Intense competition among major players to gain higher market share. Players compete on product price, efficacy, and service.
Key Takeaways
The global UV Disinfection Equipment market is expected to witness high growth. North America dominates the market currently due to stringent regulations regarding water treatment. The Asia Pacific region is expected to grow at the fastest pace during the forecast period due to increasing healthcare spending and clean water initiatives in developing nations.
Regional analysis:
North America holds the largest share currently led by U.S and Canada. Stringent regulations regarding drinking water disinfection and wastewater treatment drive the North America market. Asia Pacific is expected to witness highest growth rate during the forecast period with China, India, Japan, and South Korea being the major markets. Increasing healthcare spending, rapid industrialization, and clean water projects fuel the demand.
Key players:
Key players operating in the UV Disinfection Equipment market are Xylem Inc., Trojan Technologies, Halma PLC, Kuraray Co., Ltd., Atlantium Technologies Ltd., Evoqua Water Technologies LLC. Major players focus on new product launches, geographic expansion and mergers & acquisitions to gain competitive edge in the market.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
