UV LED Market

Global UV LED Market Size (2023 to 2028)

The global UV LED market size is expected to be worth 503.64 Million USD in 2023. It is expected to grow at a CAGR of 20.2% during the forecast period and reach a value of 1263.69 Million USD by 2028.

UV LED (ultraviolet light-emitting diode) is a device that generates UV radiation with a wavelength of less than 400nm and has built-in features, including compactness, superior performance, and cost-effectiveness. Electrical energy can be converted into ultraviolet light using ultraviolet (UV) LED technology. UV LED goods are created using various technologies, including UV-A, UV-B, and UV-C. It works best when the temperature is below 100 degrees Fahrenheit. UV LEDs were formerly only used for a few specific applications, such as curing, counterfeiting, forensics, and others. However, as technology has progressed, it has found its way into more common uses such as disinfection, purification, indoor gardening, sterilization, and medical phototherapy.

Global UV LED Market Drivers:

The UV LED market is fueled by many factors, including recent developments in the global manufacturing industry, an increase in the number of government laws that promote energy conservation, and the growing number of UV LED applications. UV LED technology has several advantages over other lighting technologies, including better switching capabilities, reduced power consumption, compact size, safe operation, and consistent UV output. Furthermore, the market will benefit from increased demand for the technology across the global electronics sector, which is expanding at a rapid rate.

Global UV LED Market Restraints:

The high installation cost is one of the primary issues that the UV LED Market faces internationally. UV LEDs are more expensive than other lighting options. This tends to limit the demand for UV LEDs, posing a significant impediment to the market's growth. Several other hurdles are projected to stymie market expansion by slowing the adoption of UV LEDs made of Silicon Carbide and Gallium Nitride, particularly in the UV-B (280nm-315nm) and UV-C (100nm-280nm) spectral regions. LED makers are attempting to increase light output and efficiency while also increasing the LED's dependability and usable life. Improvements are being made, but the overall cost of these UV LEDs has risen exponentially. This poses a significant hurdle to UV LED market expansion over the forecast period.

Impact of COVID-19 on the UV LED Market:

The COVID-19 outbreak has benefited producers by increasing market demand for UV LED equipment for sterilization and disinfection. According to a paper issued by MDPI in July 2021, UV-C radiation disinfects surfaces and inactivates COVID-19. Furthermore, in early 2020, some important companies and research institutes were developing medical and healthcare equipment to combat the spread of coronavirus.

REPORT COVERAGE:

This research report on the global UV LED market has been segmented and sub-segmented into the following categories.

UV LED Market – By Technology:

• UV-A
• UV-B
• UV-C

UV-A LEDs accounted for more than 55 percent of the UV LED market share in 2020 and are expected to expand at an 18 percent annual pace through 2027, thanks to various high-end features such as low power consumption, effective elimination, and short-wavelength energy. These qualities boost their use in forensic investigations for examining biological stains, untreated blood, and latent fingerprints, among other things, at crime scenes. UV-A LEDs also have a reduced total cost of ownership, better efficiency, and miniaturization features, all of which provide substantial advantages over traditional curing methods like fluorescent and mercury, boosting industry demand. Companies are putting a lot of effort into using UV LED technology to provide high-end products and remain competitive in the market.

With a market share of 46.5 percent in 2020, ultraviolet C (UV-C) has dominated the UV LED market. UV-C LEDs are available in a variety of power levels and styles and have a wavelength range of 275 nm (280-100 nm). UV-C is available in a variety of light sources, including single, chip-on-board, and strip modules, and it can perform a variety of tasks in a variety of industries.

UV LED Market – By Application:

• UV Curing
• Medical Light Therapy
• Disinfection & Sterilization
• Counterfeit Detection
• Optical Sensing & Instrumentation

The disinfection and sterilization segment will account for 30% of revenue by 2026 due to the increased adoption of disinfection and sterilization systems in water treatment and purification facilities. People are becoming more conscious of the importance of drinking clean water as concerns about water-borne diseases grow. POU water filtration systems include UV-C LEDs to protect families and houses from common pathogenic sources of water-borne illnesses. These UV LEDs are used to protect these systems against bacteria and other microbial pollutants. Increased use of enhanced disinfection and sterilization systems in European countries will raise the economic possibilities of ultraviolet LED manufacturers. Various companies are developing new products that include UV LEDs to get a competitive advantage in the industry.

UV LED Market – By Region:

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

In 2020, the Asia Pacific UV LED market accounted for over 45 percent of revenue and is expected to grow at an 18 percent CAGR through 2026. The increasing use of ultraviolet LEDs in the pharmaceutical business is linked with the industry's growth. Phototherapy, DNA analysis, protein synthesis, innovative drug research, and vitamin analysis are just a few of the bio-pharmaceutical applications for these LEDs. Rising government initiatives and investments in the pharmaceutical industry to encourage medication development and innovation are hastening UV LED adoption and promoting regional growth.

In the Ultraviolet LED market in 2020, North America had the greatest market share of roughly 33.2 percent. North America is expected to maintain a significant market share in the future years. With contributions from each technology and application, the market has matured quickly. The United States is one of the region's most prominent countries in terms of monitoring and controlling pollutants released by various businesses.

KEY MARKET PLAYERS:

Phoseon Technology, Nordson Corp (US), SETi (US), LG Innotek (South Korea), Seoul Viosys (South Korea), Lumileds Holding (Netherlands), Philips (Netherlands), Nichia Corp (Japan), Asahi Kasei (Japan), Osram (Germany) and SemiLEDs (Taiwan) are some of the key players in the global UV led market. 

RECENT HAPPENINGS IN THE MARKET:

• The NDC Technologies business, a provider of precision measuring systems for in-line manufacturing process control, has been acquired by Nordson Corporation from Spectris plc.
• The Gumi facility of LG Innotek, which is located in Gumi, Gyeongsangbuk-do, Korea, has received a 'Platinum' level 'Zero Waste to Landfill (ZWTL)' validation, which is a global resource recycling verification. The ZWTL validation is a global indicator issued by Underwriters Laboratories (UL), a global safety science business, based on a corporate resource recycling rate evaluation. UL awards a 'Platinum' level validation for a 100 percent industrial waste recycling rate, a 'Gold' level validation for 95.99 percent, and a 'Silver' level validation for 90.4%. The Gumi factory is certified to have a 100% resource recycling rate (waste recycling rate). This facility obtained the highest 'Platinum' level validation for producing zero trash in a landfill.
• Ams Osram, an Austrian sensor and LED manufacturer, appears to be planning to expand two factories, one in Malaysia and the other in Austria, possibly at the expense of other facilities.
• The Philips GoPure GP5212, a strong, compact automobile air purifier that can instantly remove up to 100 different types of pollutants and neutralize unwanted odors in a vehicle, has just been released by Lumileds. The GoPure GP5212 employs a unique three-layer filter technology to give clean, fresh air in minutes, and its ultra-compact and portable design allows it to be used wherever in the vehicle.