Market Size in 2022 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 847.2 Million | USD 8.6 Million | 22.9% | 2022 |
FrequentlyAsked Questions
UV LED devices are capable of reducing light whenever 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 global UV LED market is predicted to increase at a CAGR of 22.9% during the forecast period.
The global UV LED market was worth around $847.2 million in 2022 and is projected to reach 8.6 billion by the end of 2030.
The global UV LED market is being driven by several factors, including the increasing demand for energy-efficient lighting solutions, the growing awareness about the benefits of UV LEDs in various applications such as sterilization, disinfection, and curing, and the increasing adoption of UV LEDs in the healthcare, food and beverage, and water treatment industries.
Asia-Pacific held the largest share in the global UV LED market in 2022 and is likely to continue the same trend during the forecast period. The growth of the UV LED market in Asia-Pacific is being driven by factors such as increasing industrialization, urbanization, and population growth, as well as the rising demand for energy-efficient lighting solutions and the increasing adoption of UV LEDs in various applications such as water treatment, food safety, and healthcare.
Some of the major companies operating in the UV LED market are 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., and Nordson Corporation.
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