Dublin, Jan. 04, 2024 (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
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.
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, 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. 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.
What`s New?
- Special discussions on the global economic climate and market sentiment
- Coverage on global competitiveness and key competitor percentage market shares
- Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and trademarked research platform
- Complimentary updates for one year
- Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes
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 | $1100 Million |
| Compound Annual Growth Rate | 11.7% |
| Regions Covered | Global |
MARKET TRENDS & DRIVERS
- Upper-Room UVGI: A Useful Ventilation Solution to Combat COVID-19
- Rising Incidence of Hospital Acquired Infections Propel Demand
- Focus on HAI Prevention Practices Drives Demand
- High Touch Surfaces: The Major Causative Factor in HAIs
- As Infection Control Takes Centerstage Amid Ongoing Covid-19 Pandemic, Rising Incidence of HAIs Boosts Demand for UV Light Disinfection with Germicidal Lamps: Global Hospital Acquired Infection Control Market (In US$ Billion) for the Years 2020, 2022, 2024, 2026 & 2028
- Incidence of Hospital Acquired Infection by Department (in %)
- 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
- Air Passenger Traffic in Billion: 2019, 2020 and 2021
- Efficiency and Improved ROI Make UV-C Disinfection Technology an Ideal Option for Hospitality Industry
- Hotel Occupancy Rate : 2018-2022
- US Revenues Per Available Room (RevPar): 2019 to 2023
- Impact of Covid-19 on Hotel Occupancy Rates in Select Countries: March 2020
- Average YoY % Change in Revenues Per Available Room (RevPar) in Europe: March 2020 - May 2020
- Benefits of UV-C Disinfection for Hospitality and Lodging Industry
- Restaurants Bet on UV Germicidal Irradiation for Safer Environments
- Global Fast Food & Quick Service Restaurant Market Size (in US$ Billion) for 2019, 2022 & 2025
- Robust Opportunities in Cinema Halls & Shopping Malls
- Stringent Regulations Regarding Food Safety to Augment Deployment of UV Disinfection
- Foodborne Illness Outbreak Investigations in the US (2019 & 2020)
- 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)
- General Electric Company
- Atlantic Ultraviolet Corporation
- Light Sources, Inc.
- MISCO Products Corporation
- Steril-Aire, Inc.
- Creative Oz-Air (I) Pvt., Ltd.
- Digital Light Lab
- Ensavior Technologies Pvt., Ltd.
- ProMinent GmbH
- Spectronics Corporation
- Trojan Technologies
- Advanced UV, Inc.
- R.P. Fedder Industrial, LLC
- BooCax
- Magneto CleanTech
For more information about this report visit https://www.researchandmarkets.com/r/kivnpf
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