Global market for Ultraviolet Germicidal Irradiation (UVGI) projected to reach a revised size of US$1.1 Billion
In 2022, Ultraviolet Germicidal Irradiation (UVGI) faced strong competition globally, with key competitors vying for market share. The market's competitive presence was categorized as strong, active, niche, or trivial for various players.
The COVID-19 pandemic played a significant role in boosting the adoption of UVGI technology for indoor air quality, disinfection, and decontamination. UVC irradiation was particularly effective in inactivating the replication of the COVID-19 virus, contributing to its widespread use.
Air Disinfectant is projected to record 11.5% CAGR and reach US$940.6 Million by the end of the analysis period. Growth in the Surface Disinfectant segment is estimated at 9.7% CAGR for the next 8-year period.
Moreover, UVGI technology opened avenues for the decontamination and reuse of N95 masks and personal protective equipment (PPE). While the market showed healthy growth due to the increased focus on infection prevention, the availability of low-cost alternatives remained a restricting factor. Overall, 2022 marked a year of disruption and transformation in the UVGI market, driven by the global pandemic and a growing need for germicidal solutions.
The U.S. Market is Estimated at $149.1 Million, While China is Forecast to Grow at 13.8% CAGR
The Ultraviolet Germicidal Irradiation (UVGI) market in the U.S. is estimated at US$149.1 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$127.3 Million by the year 2030 trailing a CAGR of 13.8% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.6% and 9.8% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 10% CAGR.
The COVID-19 pandemic played a significant role in boosting the adoption of UVGI technology for indoor air quality, disinfection, and decontamination. UVC irradiation was particularly effective in inactivating the replication of the COVID-19 virus, contributing to its widespread use.
Air Disinfectant is projected to record 11.5% CAGR and reach US$940.6 Million by the end of the analysis period. Growth in the Surface Disinfectant segment is estimated at 9.7% CAGR for the next 8-year period.
Moreover, UVGI technology opened avenues for the decontamination and reuse of N95 masks and personal protective equipment (PPE). While the market showed healthy growth due to the increased focus on infection prevention, the availability of low-cost alternatives remained a restricting factor. Overall, 2022 marked a year of disruption and transformation in the UVGI market, driven by the global pandemic and a growing need for germicidal solutions.
The U.S. Market is Estimated at $149.1 Million, While China is Forecast to Grow at 13.8% CAGR
The Ultraviolet Germicidal Irradiation (UVGI) market in the U.S. is estimated at US$149.1 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$127.3 Million by the year 2030 trailing a CAGR of 13.8% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.6% and 9.8% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 10% CAGR.
No comments: