Northbrook, IL -- (SBWIRE) -- 05/01/2018 -- The report "UV Disinfection Market by Component (UV Lamp, Quartz Sleeve, Reactor Chamber, Controller Unit), Application (Water and Wastewater, Process Water, Air, and Surface), End User (Residential, Commercial, Industrial), and Geography - Global Forecast to 2023",

The UV disinfection market was valued at USD 1.98 Billion in 2017 and is expected to reach USD 4.27 Billion by 2023, at a CAGR of 13.67% between 2017 and 2023. The growth of the UV disinfection market is driven by factors such as growing need for safe drinking water in developing countries, increasing favorable government initiatives, rising awareness among the users, and growing need for eco-friendly disinfection system.

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Water and Wastewater expected to lead the UV disinfection market

The increasing need for safe drinking water and wastewater treatment in the industrial segment is the major reason for the growth of the UV disinfection market for the water and wastewater application. Stringent government regulations in countries such as the US, the UK, Germany, Singapore, and India toward proper disposal of wastewater from industries is also driving the growth of the UV disinfection market for the water and wastewater application across the world.

UV disinfection market for the municipal industry is expected to grow at the highest CAGR between 2017 and 2023

Municipal utilities are responsible for treating water and supplying to residential, commercial, and industrial end users. However, the increasing need for safe drinking water and proper disposal of toxic chemicals in water bodies is compelling municipal utilities to switch to a less time-consuming and effective method for disinfection. Hence, the increasing need to treat water in natural resources, such as rivers and natural springs, as well as to treat wastewater from industries are among the major reasons for the increasing growth of the UV disinfection market for the municipal segment.

North America held the largest share of the UV disinfection market in 2016

North America held the largest share of the market in 2016. This growth can be attributed to the presence of several leading UV disinfection equipment manufacturing companies in this region. Some of these companies include Xylem (US), Trojan Technologies (Canada), Halma (UK), Calgon (US), and Atlantic Ultra Violet (US).

Some of the major players in the UV disinfection market are UV Pure (Canada), LIT Company (Germany), ozonia (Switzerland), uv-technik (UK), Australian Ultra Violet services (Australia), Advanced UV (US), Atlantium Technologies (Israel), and Typhon Treatment Systems (UK).

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