ALBANY, New York, Feb. 20, 2019
ALBANY, New York, Feb. 20, 2019 /PRNewswire/ -- The global UV disinfection equipment market is likely to exhibit a high level of consolidation due to a limited number of players operating in the market, states Transparency Market Research. According to the report, the top four players including Severn Trent Plc, GE Lighting, Calgon Carbon Corp, and Xylem Inc., collectively held 55% share in 2016. Dominance of leading players increases the difficulty for new players to enter this market. Besides the big players, smaller players are efficiently working in restricted or local areas. Key players are likely to take over smaller players to expand their business. Leading players are also focusing on designing and developing better and advanced devices and equipment and are innovating their product lines to attract a larger share in the market.
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As per statistics presented in the report, the global UV disinfection equipment market is predicted to achieve a revenue of US$6.73 bn by the end of 2025. In 2016, the market generated a revenue of US$1.62 bn. This revenue is likely to be generated if the market rises at 17.40% CAGR over the forecast tenure 2017 to 2025.
Application of UV disinfection equipment is largely seen in the water segment. However, during the forecast period, the wastewater segment is likely to grow at a high rate, as manufacturing units are a high degree of opposition from organizations for not treating wastewater before releasing it back in the environment. On regional front, North America is likely to outdo other regions by creating multiple growth opportunities in this market. This region is projected to generate revenue of 36.7% of the total revenue. Meanwhile, Asia Pacific is also estimated to rise by a substantial growth rate over the forecast tenure.
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Extensive R and D Activities to Boost Demand for UV Disinfection Equipment
Rising awareness about the advantages of UV disinfection equipment technology is a key factor boosting the demand in this market. Additionally, severe environmental crisis has generated the need for green and effective techniques of water purification acting as a growth driver for UV disinfection equipment. High level of research and development carried out by manufacturers with an aim to process large volume application further augmented the demand in this market. Industrial process water treatment and municipal drinking water treatment are the two most important processes where UV disinfection equipment is used widely.
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Moreover, quick and easy installation and negligible environmental impacts by using related to the UV disinfection system when compared with conventional chemical disinfection methods will further benefit the market's growth in the near future.
Limited Knowledge of Using UV Disinfection Equipment Challenge Market Growth
Few restraining factors that are prominently available in the global UV disinfection equipment market are limited knowledge of using UV disinfection equipment to treat residuals, low costs of conventional disinfectants such as chlorine, and reducing the application of surface disinfectants in food and beverages. However, the rising use of UV disinfestation equipment in the healthcare and chemical industries and various government organizations might make the market expand at a significant rate.
The information presented in this review is based on a TMR report, titled, "UV Disinfection Equipment Market (Application - Water, Wastewater, Air, Food and Beverages, and Surface) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025."
The global UV disinfection equipment market has been segmented into:
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