UV LED Market Size, Share, Trends, Growth 2030

UV LED Industry Perspective:

The value of the global UV LED market size in 2022 was $847.2 million and is projected to reach 8.6 billion by the end of 2030. The global market is likely to register a high growth rate of 22.9% during the forecast period.

The market report offers quantitative and qualitative insights into the key drivers, opportunities, constraints, and challenges impacting global UV LED market growth.

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UV LED Market: Overview

UV LED devices are capable of reducing light whenever an electric current is passed through the terminals. The ultraviolet light-emitting diode operates below 100 degrees temperature. These are widely used in electronic devices to fulfill the purpose of exposing PCB to air. These LEDs are used in a number of applications, including medical, phototherapy, sterilization & disinfection, indoor gardening, purification, and forensic purposes. The ultraviolet LED technology can transform electric energy into ultraviolet light energy. UV LEDs are frequently found in CCFL technology and do not comprise toxic mercury. They are comparatively more durable & compact than CCFL and highly resistant to vibrations. However, it helps in less product breakage, thereby providing low maintenance expense and waste in total.

Key Insights

• As per the analysis shared by our research analyst, the global UV LED market is expected to grow annually at a promising CAGR of around 22.9% during the forecast period 2023-2030.
• In terms of revenue, the global UV LED market size was valued at around $847.2 million and is projected to reach 8.6 billion by the end of 2030.
• 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.
• Based on type, the UV-A LED segment held the largest market share in 2022.
• Based on application, the curing segment held the dominating market share in 2022.
• Based on region, the Asia-Pacific region held the largest market share in 2022.

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COVID-19 Impact:

The outbreak of the Covid-19 pandemic has negatively impacted the growth trajectory of the global UV LED market due to the announcement of worldwide lockdowns and disruptions in the supply chain. Pandemic has negatively impacted the commercial, residential, agriculture, industrial, consumer electronics, energy, and automotive sectors. The market is expected to see a speedy recovery during the post-pandemic landscape due to the ongoing product innovations and favorable government initiatives to encourage the growth of the global market.

UV LED Market: Growth Drivers

Surge in trend of smart appliances will drive the growth of the global market

The surge in the trend of smart home appliances globally is likely to offer ample impetus to the growth of the global U V LED market. UV technology is witnessing the high implementation of a wide range of smart home appliances like advanced kitchen appliances, air conditioners, refrigerators, and smart water purifiers. UV LED offers high-cost efficiency, low power consumption, and high end-feature as compared to UV lamps and bulbs. Different companies engaged in the manufacturing of electronic appliances are highly integrating UV LED into products to make them more effective and innovative. The eco-friendly composition of UV LED is further augmenting the growth of the global market.

UV LED Market: Restraints

Tariffs imposed by government are likely to be the restraining factor in global market.

Recently many tariffs have been imposed by the government, particularly the U.S. government, which in turn has emerged as a key factor hampering the growth of the global market as these measures will scale up the cost of such products significantly. Another major factor restraining the growth of the global market is the high manufacturing and installation cost of UV LEDs when compared to other alternatives. Manufacturers are finding difficulty in order to improve efficiency and light output while increasing the usability life and reliability of LED products.

UV LED Market: Opportunities

Favorable government initiatives to support the pharmaceutical and healthcare sector, thus creating immense growth opportunities for market. The government is investing heavily in the pharmaceutical and medical sector to encourage the novel drug development process, which will offer many growth prospects in the forthcoming years. The growing applications of ultraviolet LEDs in the pharmaceutical sector are another critical factor likely to create new avenues in the global market. UV LEDs are adopted in different pharmaceutical processes like vitamin analysis, protein synthesis, DNA analysis, and phototherapy. Additionally, the wide-scale acceptance of UV LED lights will further support the market growth. The growing focus of market leaders on strategic alliances and acquisitions to stay at the front in the market will further contribute towards the expansion of growth opportunities and increasing market share.

UV LED Market: Challenges

Technical issues regarding UV LED are a huge challenge in the global market.

Technical issues arising during the manufacturing of UV LEDs are a huge challenge faced by vendors in the market. The growing complex demand from end-users will also contribute to the growing tech problems in the process.

UV LED Market: Segmentation

The global UV LED market can be segmented into application, type, industry vertical, and region.

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 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.

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.

Recent Developments

• OSRAM, in January 2021, unveiled their new portable UV-C air cleaner to fight against viruses in this Covid-19 pandemic. The invisible ultraviolet light kills viruses with a reliability of 99.9%.
• A UVC-based surface disinfectant system – BIO-SCAN was launched in May 2020 by BIO-UV Group. This newly developed product will help to fight against the growing threats of COVID-19 across France.
• 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 Report Scope:

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