Demand Growth from Food and Medical Sectors Bodes Well for UV Lamps Market

Posted by Deeksha on September 27th, 2019

UV lamps have quickly become the most popular choice globally for industries that need air, water and surface sterilization. UV lamps are instrumental in purifying the air in industries where lethal and toxic chemicals are produced, including plastics, printing and rubber. UV lamps tend to disinfect surfaces without chemicals-in food industry, for instance-lamps are used for irradiation that can potentially propel shelf life and nutritional value. Nevertheless, popularity of UV lamps in industrial, commercial and healthcare settings has increased in recent years.

These insights are according to the intelligence report, titled, “Global Market Study on UV Lamps—UV LEDs are the New Growth Engine,” which has been freshly added to Market Research Hub’s (MRH) exponential repository.

UV lamps offer an efficient and a safe way to treat water without the requirement to use harmful chemicals which create pollution in biodiversity. Predominantly, UV lamps are cost-effectively used for water purification in waste water, water reclamation, drinking water, commercial and industrial process water, life sciences and aquaculture applications. Moreover, several hospitals are increasingly using UV lamps for sterilizing surgical equipment.

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Assessing a host of factors, market for UV lamps is projected to grow at a robust CAGR of ~14% and log the value of ~US$ 2.9 billion through 2029.

Pertinent players have upped their efforts in bolstering their product portfolio as they vie to bring collaboration, mergers and acquisitions into fore. In May 2019, OSRAM GmbH acquired Ring Automotive that is said to bolster its aftermarket business and customer relationship management. Nonetheless, emerging players are set to garner ~US$ 200 million revenue and log 30% market share through the sales in UV lamps market.

UV Lamps Market: Report Synopsis

Quantitative and qualitative assessment exhort intelligence and overarching report on the UV lamps market. Further, the report thoroughly delineates various aspects of the market that will potentially have considerable influence on the development of the UV lamps market. As such, those aspects incorporate drivers, trends, restraints, and opportunities. Furthermore, the report elucidates segregation of the market that provides an exhaustive analysis on UV lamps.

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An insightful and deep-dive assessment of the competitive assessment of the UV lamps market pins hope on Porters’ Five Force Analysis. Accordingly, the Porters’ Five Force Analysis offers a pressing analysis on the potential strategies of the preeminent players in the UV lamps market. In addition, the business strategies counts on company overview, product portfolio, SWOT analysis, key differentiation and recent development.

UV Lamps Market: Research Methodology

Primary sources and secondary sources propel intelligence report on UV lamps market that provide deep dive analysis on the market. As such, the report provides reliable and unbiased projections, and assessments which have palpable impact on the market size and historical data. Besides, the report also counts on primary sources which hinges upon in-depth and intelligent analysis from well-grounded and reliable experts, telephonic interview, and a thorough assessment from surveys and seasoned analyst. Report on UV lamps market further acknowledges secondary sources-namely-Factiva, EC filing, press release, trade journals, resourceful database and governmental websites.