Dublin, March 08, 2023 (GLOBE NEWSWIRE) -- The "Ultraviolet Germicidal Irradiation (UVGI): Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Ultraviolet Germicidal Irradiation (UVGI) Market to Reach $1.1 Billion by 2030
In the changed post COVID-19 business landscape, the global market for Ultraviolet Germicidal Irradiation (UVGI) estimated at US$454.4 Million in the year 2022, is projected to reach a revised size of US$1.1 Billion by 2030, growing at a CAGR of 11.3% over the analysis period 2022-2030.
Air Disinfectant, one of the segments analyzed in the report, is projected to record 11.5% CAGR and reach US$940.6 Million by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Surface Disinfectant segment is readjusted to a revised 9.7% CAGR for the next 8-year period.
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.
Looking Ahead to 2023
Fears of new COVID outbreaks and China's already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year.
Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced.
Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
What`s New for 2023?
- Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 209 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $454.4 Million |
| Forecasted Market Value (USD) by 2030 | $1100 Million |
| Compound Annual Growth Rate | 11.7% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- Ultraviolet Germicidal Irradiation (UVGI) - Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- Impact of Covid-19 and a Looming Global Recession
- 2020: A Year of Disruption & Transformation
- As the Race between the Virus & Vaccines Intensifies, Where is the World Economy Headed in 2021?
- COVID-19 Spurs Uptake of UV Germicidal Irradiation Technology
- COVID-19 Pandemic as Accelerator of Ultraviolet Germicidal Irradiation Trend for Indoor Air Quality
- Use of UV Disinfection Systems for Air Treatment Jumps during COVID-19 Crisis
- UVC Irradiation Provides Strong Germicidal Effect & Inactivates Replication of COVID-19 Virus
- UV Germicidal Irradiation Opens Avenues for Decontamination & Reuse of N95 Masks and PPE
- Ultraviolet Germicidal Irradiation: An Introduction
- Types of UV Germicidal Irradiation Systems
- Market Outlook: Consistent Increase in Risks and Threats from Infections Drive Healthy Market Growth
- Evolution of Germicidal UV Light Technology during a Global Pandemic
- Availability of Low-Cost Alternatives to Restrict Adoption
- Recent Market Activity
MARKET TRENDS & DRIVERS
- Upper-Room UVGI: A Useful Ventilation Solution to Combat COVID-19
- Rising Incidence of Hospital Acquired Infections Propel Demand
- Focus on HAI Prevention Practices Drives Demand
- High Touch Surfaces: The Major Causative Factor in HAIs
- As Infection Control Takes Centerstage Amid Ongoing Covid-19 Pandemic, Rising Incidence of HAIs Boosts Demand for UV Light Disinfection with Germicidal Lamps
- Renewed Threat of Infectious Diseases to Drive Adoption
- Global Number of Deaths Caused Due to Communicable Diseases (In 000s)
- COVID-19 Pandemic Draws Attention to UV-C LEDs
- Ultraviolet Germicidal Irradiation for Commercial Settings
- Mobile UV Systems and Handheld UV Sanitizers Come to the Fore
- Trend towards Preventive Healthcare Benefits Disinfectants Market
- Market Witnesses Influx of New UV Disinfection Robots
- The Way Forward
- Mitigating COVID-19 Transmission Risk in Hospitals Gets Interesting at UV Disinfection Robot Levels
- Lucrative Prospects in the Airports Vertical
- Efficiency and Improved ROI Make UV-C Disinfection Technology an Ideal Option for Hospitality Industry
- Benefits of UV-C Disinfection for Hospitality and Lodging Industry
- Restaurants Bet on UV Germicidal Irradiation for Safer Environments
- Robust Opportunities in Cinema Halls & Shopping Malls
- Stringent Regulations Regarding Food Safety to Augment Deployment of UV Disinfection
- Food Sterilization Applications for UVC Germicidal Lamps
- Cold Storage and Refrigerated Spaces for Fruits and Vegetables Augment Demand
FOCUS ON SELECT PLAYERS (Total 44 Featured)
- American Ultraviolet
- Atlantic Ultraviolet Corporation
- Ensavior
- Excelitas Technologies Corp.
- General Electric Company
- Halma plc
- Signify Holding
- UltraViolet Devices, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/li8cg3
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