Northbrook, IL 60062 -- (SBWIRE) -- 04/19/2022 -- The UV disinfection equipment market size is projected to reach USD 9.2 billion by 2026 from an estimated USD 4.8 billion in 2021, at a CAGR of 14.0% from 2021 to 2026.
Extensive use of UV disinfection equipment in healthcare facilities for disinfecting hospital environment and increasing demand for UV disinfection equipment to combat COVID-19 pandemic are among the factors driving the growth of the UV disinfection equipment market.
UV lamps is projected to register the highest CAGR from 2021 to 2026
The UV lamps segment is projected to grow at the highest CAGR during the forecast period. The major factor contributing to the growth of this segment is the high adoption of UVC LEDs in UV disinfection equipment. UVC LEDs offer the advantages of longer life expectancy and lower power consumption, which has favored their adoption on a large scale. UV disinfection equipment used in industrial and municipal applications employ multiple UV lamps in a single system, which is expected to drive the market for UV lamps in the near future.
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Water and wastewater segment is projected to register the highest CAGR from 2021 to 2026
The water and wastewater segment is expected to register the highest CAGR during the forecast period. The dominance was attributed to the increase in the installation of UV disinfection equipment in the residential, commercial, and industrial segments for disinfecting water to make it suitable for drinking and other purposes. Furthermore, the increasing implementation of stringent government regulations pertaining to safe and environmentally friendly treatment of water and wastewater is also supporting the growth of the UV disinfection equipment market.
Municipal segment is projected to register the highest CAGR from 2021 to 2026
The municipal segment is expected to register the highest CAGR during the forecast period. The rising concerns about the recycling of wastewater and increasing regulations for clean and safe water across the globe is likely to drive the growth of the market during the forecast period. Also, to meet the demand for drinking water in areas with dense population, municipal corporations are shifting toward UV treated water as it does not has any chemical residues.
APAC to lead UV disinfection equipment market in 2020
In 2020, APAC held the largest share of the market and this trend is expected to continue during the forecast period. The growth of the UV disinfection equipment market in APAC can be attributed to the increasing population and the growing requirement for clean and safe water to avoid the spread of water-borne diseases.
Key Market Players
Xylem Inc. (US), Trojan Technologies (Canada), Halma Group (UK), Kuraray Co., Ltd. (Japan), Atlantic Ultraviolet Corporation (US), Evoqua Water Technologies LLC (US), Advanced UV, Inc. (US), American Ultraviolet (US), Atlantium Technologies Ltd. (Israel), and Hoenle AG (Germany), are some of the key players in the UV disinfection equipment market.