A UV LED Market Size By Type (UV-A, UV-B, UV-C), By Power Output (Below 1W, 1W-5W, 5W-10W, 10W and Above), By Application (UV Curing, Disinfection & Sterilization, Medical Light Therapy, Optical Sensing And Instrumentation, Counterfeit Detection, Others)

UV LED Market Size By Type (UV-A, UV-B, UV-C), By Power Output (Below 1W, 1W-5W, 5W-10W, 10W and Above), By Application (UV Curing, Disinfection & Sterilization, Medical Light Therapy, Optical Sensing And Instrumentation, Counterfeit Detection, Others), Application Development Potential, COVID-19 Impact Analysis, Price Trend, Regional Outlook, Competitive Market Share & Forecast, 2022 - 2030.

The UV LED market is set to garner substantial gains through 2030 owing to notable advancements in the medical & healthcare sector. In addition, wide-ranging applicability in varied sectors, along with surging demand for curing systems, is likely to propel market growth over the forecast period.

The COVID-19 pandemic has positively influenced product demand across different sectors, especially for disinfection and sterilization. With prevalent concerns for safety in crowded places, commercial and entertainment spaces adopted UV LED-based disinfecting systems. Moreover, key market players have been implementing effective growth strategies to expand their product portfolios and strengthen their business presence, enhancing overall industry dynamics.

For instance, in November 2021, ams OSRAM International GmbH, a German optoelectronic semiconductor manufacturing company, in partnership with the University of Padua, published findings of its germicidal ultraviolet (GUV) research, which indicated that UV-C radiation could deactivate pathogens like coronavirus.

The UV LED market has been segregated on the basis of type, power output, application, and region covered.

In terms of type, the UV LED industry has been classified into UV-A, UV-B, and UV-C. The UV-B segment is foreseen to depict sizable expansion over the assessment timeline as a result of its numerous beneficial characteristics, such as low energy consumption, low heat generation, no heavy metals, and environmental friendliness.

With respect to power output, the UV LED industry is classified into 10W & above, 5W-10W, 1W-5W, and below 1W. The 10W and above output UV LED market size is anticipated to cross $60 million in revenue by the end of the review timeframe attributed to increasing penetration in sterilization, disinfection, medical treatment, plant lightning, and curing. Growing concerns for air and water treatment amid COVID-19 have also lifted the demand for UV LED technology, as it has the ability to provide treatment without the use of harmful chemicals.

The UV LED market has been divided based on application into medical light therapy, counterfeit detection, UV curing, optical sensing and instrumentalization, disinfection & sterilization, and others. The counterfeit detection segment was valued at more than $70 million in 2021 and is likely to account for a considerable share of the market revenue by 2030. UV LED counterfeit detection provides portable and compact detection solutions for organizations and businesses in the constant fight against fake IDs, bills, and currencies, which is expected to propel segmental growth.

Meanwhile, the others segment is estimated to expand at a CAGR of over 12% from 2022 to 2030 on account of rising demand for indoor gardening wherein UV LED is used for the photosynthesis process in plants and to speed up the germination process for starting seeds when grown indoors. Adequate dose and frequency can increase the production of active substances in traditional and medicinal plants and offer a healthy growing environment.

With regards to regions covered, the Asia Pacific UV LED market size is poised to witness significant expansion through the study period. High adoption of UV LED in government, commercial, and manufacturing sectors is primed to boost APAC industry growth.