UV disinfection equipment market predicted to reach $2.8B by 2020, report finds
According to a new report recently published by Allied Market Research, the global ultraviolet disinfection equipment market has a potential to reach $2.8 billion by 2020, registering a compound annual growth rate of 15.3 percent during 2014-2020.
Dec. 31, 2014 -- According to a new report recently published by Allied Market Research, a full-service market research and business-consulting wing of Allied Analytics LLP, the global ultraviolet (UV) disinfection equipment market has a potential to reach $2.8 billion by 2020, registering a compound annual growth rate of 15.3 percent during 2014-2020. The present progress observed in the market is due to growing environmental concerns, toxicity of industrial wastewater and shrinking freshwater sources.
The report, titled "UV Disinfection Equipment Market - Size, Industry Analysis, Trends, Growth, and Forecast, 2013-2020", indicates that wastewater treatment through UV disinfection equipment should garner almost 1/3rd of the global market by 2020. Presently, the water treatment application has the highest market share, as it is a volume-driven application. North America holds nearly 40 percent of the market, as the technology is widely used in the region. However, chemical-based water disinfectants are still prevalent in the developing regions, especially among numerous municipal corporations. Acceptance of UV-based technology in these regions would eventually add to the growth of the market in APAC and LAMEA.
UV disinfection is evolving as the latest technology in the water treatment industry. Replacement of chlorine-based disinfection with advanced disinfection techniques is the key trend boosting the adoption of this technology. Low installation and operational cost, along with residue-less functioning, and ease of maintenance are the key propellants of the UV disinfection market. Moreover, it nearly doubles the operational efficiency in water treatment, compared to chlorine-based disinfection techniques. The growth of the healthcare and chemical industry is also creating tremendous opportunities for the UV disinfection equipment market. However, widespread use of chlorine-based, low-cost disinfection methods is a major restraint for the market.
UV disinfection finds its uses in diversified areas, majorly in water treatment, wastewater treatment, air treatment, process-water treatment, and surface disinfection. Among these, water treatment leads the market, accounting to almost 60 percent of the total market share, as it is a volume-driven application. Wastewater treatment indicates the maximum potential for growth during the forecasted period. Scarcity of freshwater is a major concern globally; therefore, there is a growing emphasis on the treatment and reuse of wastewater, which would boost the growth of this application.
The report also analyzes the application of water treatment in municipalities, residences and commercial sectors. Currently, municipal water treatment segment holds more than 50 percent of the share in the water treatment application of UV equipment. Use of this equipment in municipal water treatment has increased significantly, as it is considered to be an efficient and eco-friendly system that eliminates the use of chemicals. Therefore, several municipalities have started transforming their chemical-based disinfection plants to UV light-based plants. Residential water disinfection is the second largest revenue-generating application followed by commercial applications.
The following lists key findings of the study:
- The global market for UV disinfection equipment is gaining prominence due to its increasing applications in water disinfection.
- The growing freshwater crisis has further led to a greater emphasis on the use of UV for wastewater treatment.
- The use of UV disinfection in water treatment contributes to more than half the revenue of the global UV disinfection equipment market.
- Based on the geographic analysis, North America is the highest revenue-generating region, followed by Europe with nearly the same market share.
- In 2013, municipal water treatment held approximately 4/5th of the UV disinfection equipment application market in water treatment.
- Wastewater treatment is the fastest-growing application area for UV disinfection equipment.
About Allied Market Research
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