The rising issues related to the scarcity of clean and healthy water is one of the major factors boosting the demand for UV disinfection technology across the globe. In addition, the increasing awareness among consumers concerning the use of the equipment is predicted to fuel the growth of the market in the next few years. According to a research study by Transparency Market Research, in 2016, the global market for UV disinfection equipment was worth US$1.62 bn. The market is estimated to reach a value of US$6.73 bn by the end of 2025, exhibiting an impressive 17.40% CAGR between 2017 and 2025.
In this blog, several concerns related to the development and growth prospects of the global UV disinfection equipment market have been addressed to offer a clear understanding for readers and players. Some of the questions have been mentioned below:
Which strategies adopted by the players are expected to encourage market growth?
At present, the global market for UV disinfection equipment is competitive in nature and is expected to witness a healthy competition in the coming years. The leading players, including Severn Trent Plc, Xylem Inc., GE Lighting, and Calgon Carbon Corp. are making notable efforts to expand their product portfolio. In addition, the advancements in technology and innovations are anticipated to benefit the market players and augment the global UV disinfection equipment market in the next few years.
Which factors are anticipated to contribute towards the growth of the market?
The increasing awareness among consumers concerning the advantages of using UV disinfection technologies is anticipated to encourage the growth of the overall market in the next few years. The rising demand from emerging economies and the technological developments are predicted to accelerate the market’s growth in the near future. Furthermore, the rising concerns over water scarcity and the growing need for wastewater treatment are expected to offer lucrative opportunities for the market players in the near future. Moreover, the introduction of effective technology and new products are likely to encourage growth.
Which regional segment is likely to witness a high level of growth in the near future?
North America is anticipated to witness a strong growth throughout the forecast period and account for a large share of the overall market. The rising contribution from the U.S. and the presence of several leading companies are anticipated to encourage the growth of the North America market in the next few years. Europe is expected to follow North America and register a healthy growth in the near future. Furthermore, Asia Pacific is predicted to offer potential growth opportunities for the players operating in the UV disinfection equipment market in the next few years. The increasing investments in order to offer effective wastewater treatment technologies are likely to accelerate the growth of the Asia Pacific market in the coming years.