The Global UV LED Market was valued at USD 0.4 Bn in 2020 and is expected to reach USD 1.3 Bn by 2027, with a growing CAGR of 20.2% during the forecast period.
UV Light Emitting Diodes (LEDs) is a solid-state device that produces light when an electrical current flows from the positive (p-type or anode) side of the circuit to the negative (n-type or cathode) side. This is known as the ‘p-n junction’. Each LED is made to provide a particularly narrow range of UV wavelengths. The wavelength of these LEDs ranges from 10 nm to 400 nm.
The increase in environmental concerns drives the UV LED market during the forecast period. The UV LEDs is used for numerous application in the industries such as sterilization, detection, curing, and security. UV LEDs are environmental friendly as they do not contain harmful mercury, do not produce ozone, and consume less energy as well. These primary advantages uplift the demand for UV LEDs that are anticipated to accelerate its market growth. UV-C LEDs are rapidly growing in applications including germicidal (UVGI) for air, surface, and water purification. UV LED curing provides solutions to the negative environmental effect because it offers improved flux density, stability, and long-life hours, proliferating the UV LED market growth.
In addition, the increasing demand for UAV LED for sterilization and disinfectants propelled the UV LED market growth throughout the forecast period. Ultraviolet C (UV-C) Sterilization LED Lighting is one of the growing markets in COVID-19 pandemic that mainly aims to disinfect germs for surface contacts. Currently, Low-pressure Mercury UV-C Sterilization light is also used but it consumes more energy and requires wait time to start up the sterilization cycles. Thus, UV-C LED lighting has become popular that companies are investing resources to design UV-C LED light fixtures to be used in hotels, car trains or hospitals.
By Type
By Material
By Application
By Industry Vertical
By Region
Based on the type, the UV-A segment has a significant market share during the forecast period because it is used for UV curing, validation and counterfeit detection
Based on the type, the UV LED market has been segmented into UV-A, UV-B, and UV-C. The UV-A segment in UV LED market has a significant market share during the forecast period because it is used for UV curing, validation, and counterfeit detection. Moreover, the demand for this technology is majorly driven by its ability to consume lesser power output. In addition, LED-based UV provides substantial benefits over conventional curing technologies that include fluorescent and mercury owing to lower cost of ownership, increased efficiency and system miniaturizing.
Based on the industry vertical, the industrial segment capture the largest market share during the forecast period due to an increase in the usage of environment safe LEDs and government initiatives toward energy potency product
Based on the industry vertical, the UV LED market is segmented into healthcare & medical, agriculture, industrial, residential, commercial. The industrial segment in UV LED industry is expected to hold the largest market share during the forecast period due to an increase in the usage of environment safe LEDs and government initiatives toward energy potency products.
Based on region, Asia Pacific is growing at the highest CAGR during the forecast period owing to the demand for freshwater for the residential and industrial sector
Asia Pacific is growing at the highest CAGR during the forecast period owing to the growth in the region is mainly attributed to the increasing demand for freshwater in the residential and industrial sectors. The UV LED industry growth in this region is predominantly rising due to leading economies such as China, India, Japan and Others. For instance, according to the World Bank Reports, investments done in water and sanitation in Asia-Pacific is highest and has been increasing rapidly from USD50Mn to USD910Mn in recent years.
The report also provides an in-depth analysis of UV LED market dynamics such as drivers, restraints, opportunities, and challenges:
Drivers
Restraints
Opportunities
Challenges
COVID-19 Impact on the UV LED Market Analysis:
The slowdown of the economy happened due to the strict lockdown imposed by the government to limit the spread of the COVID-19 virus. However, the growing demand for UV systems in the healthcare and medical industry is expected to propel the UV LED market share over the forecast period. The business for UV systems specific to the healthcare industry is less affected as compared to other verticals. In the era of COVID-19 the UV LED technology are used to kill the viruses, bacteria, and used as surface disinfectant. Thus, this will accelerate the demand for UV LED industry. For instance, according to secondary sources, the UVC Room Sterilization Lamp is tested and proven to properly disinfect and inactivate 99.99 percent of bacteria and viruses.
*Note: A detailed analysis is specific to the market will be provided in the report
The report also provides an in-depth analysis of key trends in the UV LED market:
The report also provides an in-depth analysis of recent news developments and investments:
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Market Introduction
Research Methodology
Executive Summary
Premium Insights
Market Overview & Competitive Landscape
Market Segmentation (Market Size and Share Analysis)
Market Dynamics
COVID – 19 Opportunity Mapping
Regional Market Analysis
Company Profiles
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