Global UV LED Market 2023-2030

Global UV LED Market 2023-2030

Global UV LED Market Size, Share & Trends Analysis Report by Technology (UV-A, UV-B and UV-C), by Application (UV Curing, Medical and Scientific, Disinfection and Sterilization, Counterfeit Detection, Optical sensing and instrumentation, and others), by End-User (Residential, Industrial and Commercial) Forecast Period (2023-2030)

The global UV LED market is anticipated to grow at a significant CAGR of 22.8% during the forecast period. High energy efficiency of UV LEDs which lowers energy expenditures and maintenance needs compared to conventional sources of light is a key factor driving the growth of the global UV LED market. UV LEDs are attractive for a variety of businesses because of their energy efficiency, environmental friendliness, and compactness. Industries such as healthcare and medical, agriculture, automotive, electronics and printing have adopted UV LED technology for curing, disinfection, counterfeit detection, sterilization, printing, and water purification. As a result, the demand for UV LEDs has surged across these sectors. Additionally, increased awareness of the benefits of UV technology has increased its demand. Overall, these factors have boosted the UV LED industry expansion, making it a promising industry for the future.

Segmental Outlook

The global UV LED market is segmented based on the technology, application, and end-user. Based on the technology, the market is sub-segmented into UV-A, UV-B and UV-C. Based on application, the market is sub-segmented into UV curing, medical and scientific, disinfection and sterilization, counterfeit detection, optical sensing and instrumentation and others (agriculture, lithography). Based on end user, the market is sub-segmented into residential, industrial and commercial. Among the end user, the residential sub-segment is anticipated to hold a considerable share of the market, owing to increase emphasis on indoor air quality and sanitation in residential spaces. UV LEDs disinfect air and water by inactivating bacteria, viruses, and microorganisms, thereby reducing the risk of airborne diseases and waterborne contaminants. Additionally, advancements in UV LED technology have resulted in more compact, energy-efficient, and affordable products. These factors make UV LED solutions increasingly accessible to residential consumers, driving the market growth.

UV-C Sub-Segment Is Anticipated To Hold a Prominent Share in the Global UV LED Market

Among the technology, UV-C sub-segment is anticipated to hold a prominent share of the market. The desire for effective and ecologically friendly disinfection treatments is a key contributor to the growth of this market segment. This ultraviolet wavelength range between 100 and 280 nm. The need for UV-C LED-based solutions has increased due to the increased focus on hygiene throughout the world, particularly in the healthcare, hospitality, and public spaces sectors. Shorter disinfection periods, less chemical use, and fewer toxic consequences are just a few benefits of UV-C. Furthermore, advancements in UV-C LED technology have improved their efficiency, lifespan, and affordability. Manufacturers are investing on R&D to improve UV-C LED performance, making them more affordable and useful for a variety of applications. Due to these factors, the UV-C market is predicted to increase significantly, providing excellent prospects for UV LED producers, component suppliers, and system integrators. The benefits of UV-C LEDs and the growing understanding of the value of disinfection are two factors that are anticipated to contribute to the UV-C LED growth during the forecast period.

Regional Outlook

The global UV LED market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East &Africa, and Latin America).Among these, the North America regional market is expected to grow considerably over the forecast period. The increasing number of Government initiatives for implementing green curing technology and presence of high-security activities are contributing to the regional market growth.

Asia-Pacific is Expected to Hold a Prominent Share in the Global UV LED Market

Among all regions, Asia-Pacific is expected to hold a prominent share of the global UV LED market. The growth of the market in this region is attributed to the factors such as, region's significant industrialization in the electronics, automotive, and manufacturing sectors has increased demand for UV LED applications. UV LEDs are used in electronics production for curing, printing, and identify counterfeits. UV LEDs are used in the automotive industry for applications such as curing adhesives and paints. This industrial expansion and diversification contribute to the growth of the Asia Pacific UV LED market. Health and safety precautions are becoming increasingly important, particularly in densely populated countries such as China and India. UV-C LEDs, which have germicidal capabilities, are increasingly being employed in hospitals, laboratories, and public venues for disinfection. Additionally, the Asia-Pacific region has a large consumer base, creating opportunities to adopt UV LED-based products in residential and commercial. The increasing awareness of the benefits of UV LED technology, coupled with improving affordability and availability, further propel the market growth.

Market Players Outlook

The major companies serving the global UV LED market include Signify Holding, Honle UV America Inc, Seoul Viosys Co., Ltd, Semileds Corporation, Koninklijke Philips NV, Nichia Corporation, EPIGAP Optronic GmbH, CRYSTAL IS Inc. and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in October 2021, Signify launched the Philips UV-C disinfection box for small objects. The Philips UV-C disinfection box, fitted with Philips’ UV-C light sources, can inactivate SARS-CoV-2, providing an easy and effective way to disinfect items like keys, cell phones, toys, and other household items.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global UV LED market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.