Global UV LED Market Size, Share, Growth Report 2030

Posted 2023-05-19 09:15:48

The value of the global UV LED market size was estimated to reach 8.6 billion dollars by the end of 2030, having reached a value of 8.472 billion dollars in 2022. During the time covered by this prediction, it is anticipated that the global market would expand at a growth rate of 22.9%. The market study provides both quantitative and qualitative insights into the key drivers, opportunities, and challenges that are driving the growth of the global UV LED market.

UV LED Market: Overview

When an electric current is run through the terminals of a UV LED device, the device is able to reduce the amount of light that is emitted. The temperature at which the UV light-emitting diode functions is lower than 100 degrees. In order to achieve the desired effect of exposing PCB to air, they are frequently utilized in electronic devices. These light-emitting diodes (LEDs) find usage in a variety of applications, including medicinal, phototherapy, sterilization and disinfection, indoor gardening, and purifying. Forensic applications also make use of them. The UV LED technology has the capability of converting electric energy into the energy of ultraviolet light. UV LEDs are commonly used in CCFL technology, and unlike CCFLs, they do not contain any hazardous mercury. In comparison to CCFL, they have superior characteristics in terms of durability and compactness, as well as vibration resistance. Nevertheless, it assists in reducing the amount of product breakage, which in turn results in fewer overall expenses for maintenance and waste.

The UV LED Market: Factors Driving Growth

The expansion of the global market will be driven in large part by the surge in popularity of smart home appliances.

It is anticipated that the spike in popularity of smart home appliances around the globe would provide a significant boost to the expansion of the global market for UV LEDs. UV technology is currently being used in an increasing number of high-tech home appliances, such as cutting-edge kitchen gadgets, air conditioners, refrigerators, and smart water purifiers. In comparison to UV lamps and bulbs, UV LED provides significantly higher cost efficiency, significantly lower power consumption, and significantly higher end features. A variety of businesses that are involved in the production of electronic home appliances are heavily incorporating UV LED technology into their products in order to make such products more effective and inventive. The environmentally friendly makeup of UV LED is another factor that is contributing to the expansion of the global market.

UV LED Market: Regional Landscape

Asia Pacific accounts for the largest share in the global UV LED market due to the growing demand in the region. Furthermore, the rising living standard and improving economic conditions are further likely to upscale the growth of the regional market in the forthcoming years. Besides, the region's dominance in the market is mainly attributed to the growing demand for UV LED technology in various applications such as curing, sterilization, and purification, as well as the presence of major UV LED manufacturers in countries like China, Japan, South Korea, and Taiwan. Additionally, the increasing government initiatives and regulations promoting energy-efficient lighting solutions have also contributed to the growth of the UV LED market in the APAC region.

North America is also a leading region in the global market due to the presence of prominent market leaders in the region.

UV LED Market: Competitive Landscape

Some of the significant players in the global UV LED market include:

Phoseon Technology
Sensor Electronic Technology
Crystal IS
Semileds Corporation
Koninklijke Philips N.V.
OSRAM
Nichia Corporation
Lumileds Holding B.V.
Nitride Semiconductors
Qingdao Jason Electric
Luminus Devices
Raycus
HPLighting
COBRA Cure FX
UVEXS
Advanced Optoelectronic Technology
Bolb Inc.
L.G. Innotek Co. Ltd.
Nordson Corporation.

The global UV LED market is segmented as follows:

By Industry Vertical

Healthcare & Medical
Agriculture
Industrial
Residential
Commercial
By Type

UV-A
UV-B
UV-C
By Application

Curing
Purification
Indoor Gardening
Counterfeit Detection
By Region

North America
The U.S.
Canada
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa