Global UV LED Market Is Projected to Reach 8.6 Billion By The End Of 2030

Global UV LED Market To Expand At 22.9% CAGR Through 2030

The global UV LED market size was worth around $847.2 Million in 2022 and is projected to reach 8.6 billion by the end of 2030, growing at a compounded annual growth rate (CAGR) of 22.9% during the forecast period.

UV LED, or ultraviolet light-emitting diode, is a type of LED that emits ultraviolet light with wavelengths ranging from 200 to 400 nm. Unlike traditional UV lamps, UV LED lights are small, energy-efficient, and long lasting, making them ideal for various applications, such as curing, sterilization, purification, counterfeit detection, and medical and scientific research. UV LED technology has several advantages over conventional UV lamps, including instant on/off functionality, reduced heat generation, and reduced environmental impact due to the absence of hazardous materials, such as mercury. Additionally, the use of UV LED technology can result in significant energy savings, making it an attractive option for companies looking to reduce their carbon footprint and save on energy costs.

The global UV LED market is expected to surge exponentially due to an increase in demand for water purification and air sterilization. With growing concerns about water and air pollution, the demand for UV LED-based water purification and air sterilization systems is on the rise. Besides, UV LEDs are used in medical applications such as phototherapy, surgical lighting, and diagnosis, driving the demand for UV LED systems in the healthcare sector. Apart from that, UV LEDs are widely used in horticulture and agriculture for crop protection, pest control, and improving plant growth. In addition, UV LEDs consume less energy and last longer than traditional lighting solutions, making them a more sustainable and cost-effective choice for consumers. These factors drive the growth of the market during the forecast period. Furthermore, growing potential in emerging economies such as China, India, and Brazil, driven by growing industrialization and urbanization and the development of new applications such as food processing, cosmetics, and forensic science create ample opportunities for the growth of the market during the forecast period. However, the high cost of UV LED systems and lack of awareness about the perks of the technology impedes the growth of the market to an extent.

The global UV LED market is segmented into industry verticals, types, applications, and regions.

Based on type, the market is segmented into UV-A, UV-B, and UV-C. The UV-A LED segment held the largest market share in 2022 and is further predicted to grow rapidly at a significant CAGR during the forecast period. The UV-A LED segment is used in a variety of applications such as curing, printing, and counterfeit detection. The increasing demand for UV LED-based curing systems in the printing and coating industries is driving the growth of the UV-A LED segment. UV-A LEDs are also used in counterfeit detection applications, such as verifying the authenticity of banknotes and passports. Furthermore, the growing adoption of UV-A LED in horticulture and agriculture for plant growth and pest control is also driving the growth of the UV-A LED segment.

By industry vehicle, the market can be segmented into commercial, industrial, residential, agriculture, and healthcare & medical.

By type, the market can be segmented into UV-C, UV-B, and UV-A.

By application, the market can be segmented into counterfeit detection, indoor gardening, disinfection, curing, and others.

Based on application, the market is segmented into curing, purification, indoor gardening, counterfeit detection, and others. The curing segment held the dominating market share in 2022 and is further predicted to grow simultaneously at the fastest CAGR during the forecast period. The major reason for the growth of this segment is its immaculate application in various industries such as printing, coating, and electronics for its energy efficiency, high performance, and environmental friendliness. One of the primary advantages of UV LED curing is its energy efficiency. Unlike thermal curing, which requires high temperatures and consumes a lot of energy, UV LED curing does not generate heat, making it more energy-efficient and cost-effective. Additionally, UV LED curing offers better process control, which helps to minimize waste and improve product quality.

Based on region, the Asia-Pacific region held the largest market share in 2022 and is expected to grow at a notable CAGR during the forecast period. 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.

This review is based on a report by Zion Market Research, titled “UV LED Market By Industry Vertical (Healthcare & Medical, Agriculture, Industrial, Residential, And Commercial), By Type (UV-A, UV-B, And UV-C), By Application (Curing, Purification, Indoor Gardening, Counterfeit Detection, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030.”- Report at https://www.zionmarketresearch.com/report/uv-led-market

Recent Developments

• In October 2021, LG Innotek announced the development of a new sterilization module that uses deep ultraviolet-C (UVC) LED technology. The module can reportedly eliminate up to 99.9% of germs and viruses in just five minutes, making it ideal for use in various applications such as air purifiers, water purifiers, and medical devices.
• In June 2021, Crystal IS, a manufacturer of high-performance UVC LEDs, announced the launch of a new line of deep UV LED modules for air and surface disinfection applications. The modules use Crystal IS's Optan UV-C LEDs and are designed to provide high germicidal efficacy while maintaining low power consumption.

UV LED Market: Competitive Landscape

The global UV LED market is dominated by players such as:

• 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

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