Global UV LED Market

Author: Mayuri Kathade

Global UV LED Market was valued US$ 351.12 Mn in 2017 and is expected to reach US$ 1204.13 Mn by 2026 at a CAGR of 16.65 % during the forecast period.

The numerous advancements in the manufacturing industry, increasing government policies to save energy and widening area of applications of the technology are the major driving factors responsible for growth ofin the market. UV LED technology provides many benefits like low power consumption, high switching capabilities, compact size, consistent UV output, high-cost savings and safe operations. This has led to the widespread use of technology in nearly all industries. Moreover, earlier the usage of UV LEDs was restricted to only a few applications. But, as a result of continuous research and development, now the technology has entered into many new applications and is widely used in curing, sterilization, forensic, phototherapy, disinfection, printing and manufacturing of high-end health and beauty products such as wine, cider, spirits and beer. Also, the technology is now used in the electronics industry such as in the manufacturing of flat panel displays for OLED televisions and mobile phones. As a result of increased adoption in most of the industry verticals, the technology is expected to show exponential growth rates in the forecast period.

However, the UV LED technology lacks in providing desired results and is relatively expensive than other products in the market, the factors which can prevent the growth of UV LED market. But, the substantial amount of ongoing research and development is expected to result in improved performance to provide desired results and as several new players are entering the market, the price is also expected to decline in the coming years, which will impact positively on the market growth.

Based on technology type, the market has been segmented into UV-A LED, UV-B LED and UV-C LED. In 2018, the UV-A LED segment to dominate the market and UV-C LED is expected to dominate the market during the forecast period because of increasing adoption of advanced disinfection & purification systems.

From a regional standpoint, the report dives deep into the growth dynamics of the UV LED market across regions such as the Middle East and Africa, Asia Pacific, Europe, North America, and Latin America. Massive forecasts pertaining to the growth prospects of these regional markets are also included in the report.

It has been observed that the UV LED market in North America is presently the leading regional market in terms of size and contribution to the global UV LED market. The regional market continues its bullish run because of the immense focus of developers on research and development activities. Over the forecast period, the UV LED market in the Asia Pacific is expected to emerge as the most promising regional market because of the huge rise in the number of developers and the thriving electronics sector.

The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding dynamics, structure by analyzing the market segments by technology, application, and region and, project the global market size. The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the UV LED market. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment.

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Scope of Global UV LED Market

Global UV LED Market, By Technology

  • UV-A LED
  • UV-B LED
  • UV-C LED

Global UV LED Market, By Application

  • Curing
  • Disinfection and Purification
  • Medical
  • Others

Global UV LED Market, By Region

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • South America

Key players operating in Global UV LED Market

  • Crystal IS
  • SemiLEDs Corporation
  • Koninklijke Philips N.V.
  • LG INNOTEK
  • Sensor Electronic Technology, Inc.
  • NICHIA CORPORATION
  • Seoulviosys Co., Ltd.
  • Halma plc
  • Phoseon Technology
  • Heraeus Holding.

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