Trend Expected to Guide Ultraviolet Disinfection Equipment during 2018 to 2026
The global UV disinfection equipment market is characterized by a high level of consolidation. The strong footholds of the major market players ensure that new players do not find any easy way to penetrate into the market. Despite the dominance of the behemoth players, smaller players also operate in the market, though their reach is restricted to the local territory. It is anticipated that the large market players would acquire the smaller ones in order to expand their geographical reach. Moreover, acquiring smaller players also helps in penetrating into the regional markets and gives an intact consumer base to the companies. The top four players viz. Severn Trent Plc, GE Lighting, Xylem Inc., and Calgon Carbon Corp. collectively held 55% of the total market share in 2016. Another key trait of the competitive landscape is the presence of large number of private companies as against public ones. The leading market players have been focusing on developing and designing better equipment and devices. Bringing about key innovations in the product portfolio is projected to be a key strategy of the market players who want to clasp the reigns of the market. The rapid technological advancements are expected to help the market players in executing their strategies and reforms with a high level of precision.
TMR estimates that the global UV disinfection equipment market would expand at an astral CAGR of 17.40% over the period between 2017 and 2025. The UV disinfection equipment market clocked in a total revenue of US$1.62 bn in 2016 and is expected to elevate to a valuation of US$6.73 bn by 2025. Based on the application of UV disinfectant equipment, the water and wastewater treatment segment is projected to hold the highest share amongst all other segments in this category.
Green Approach to Water Purification Boosts Demand for UV Disinfection Equipment Market
The world is undergoing a severe environmental crisis wherein there is a need for green and effective techniques for water purification. The scantiness of fresh water reserves has compelled the international and national authorities to reuse the available water after purifying it. Hence, the global market for UV disinfection equipment is expected to attract commendable demand over the coming years. Furthermore, the rising awareness about the advantages of UV disinfection technology has also played to the advantage of the global market. While treating water bodies, an important concern is to ensure that the aquatic life is not affected in any way. Since UV disinfection techniques can help in achieving this, the demand within the market has touched new heights in recent times.
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High Costs of Equipment Could Obstruct Growth
Although the nascent techniques of UV disinfection serve several advantages, the growth of the global UV disinfection equipment market could be hampered by the high costs of UV disinfection equipment. This is because the small-scale industries are not in a position to afford the exorbitantly high-priced devices and equipment. Countering the aforementioned disadvantages to the market, the heavy demand from large-scale commercial plants is projected to keep bolstering demand within the global market. Since commercial plants have long-term benefits associated with the installation of UV disinfection devices, it is feasible for them to buy the equipment.
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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