- Technavio Research stated that the global outbreak of COVID-19 is expected to have a negative impact on the growth of the UV disinfection equipment market
- The rising concerns over freshwater scarcity are anticipated to boost the growth of the UV equipment market
The global ultraviolet (UV) disinfection equipment market is expected to grow by USD 2.06 billion as per Technavio. This marks a significant market slow down compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020.
“However, steady growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of over 14 per cent,”read the report.
Many companies in India have already launched UV based disinfectant solutions for Corona. Kyoritsu Electric, Log 9 Materials have recently launched a robot and Corono oven, respectively. Havells is also rumoured to be working on a solution based on UV light.
COVID-19 expected to have a negative impact
The global outbreak of COVID-19 is expected to have a negative impact on the growth of the UV disinfection equipment market during the forecast period. The market growth will further decline due to the extension of lockdown/containment efforts in major COVID-19 hotspots, including Spain, US, Italy, China, and France, which account for over two-thirds of all reported cases.
The market is driven by the benefits of UV disinfection equipment. In addition, the rising concerns over freshwater scarcity are anticipated to boost the growth.
“End-users are increasingly adopting UV disinfectant technology due to its various benefits compared to conventional chlorine disinfection systems. Unlike chlorine disinfectant systems, UV disinfectant technology systems are easy to store and install and offers a chemical-free system,” read the report.
It continued, “Also, the technology disinfects water much faster as the UV light kills microorganisms within a shorter time. Many such benefits are driving the growth of the global ultraviolet disinfection equipment market.”
