UV LED Market - Global Industry Analysis

Industry Perspective:

The value of the global UV LED market in 2021 was $405 million and is projected to reach 1220 million by the end of 2028. The global market is likely to register a high growth rate of 20.2% during the forecast period. The market report offers quantitative and qualitative insights into the key drivers, opportunities, constraints, and challenges impacting global market growth.

UV LED Market: Overview

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 ultraviolet LED technology can transform electric energy into ultraviolet light energy. UV LEDs are frequently found in CCFL technology and do not comprise toxic mercury. They are comparatively more durable & compact than CCFL and highly resistant to vibrations. However, it helps in less product breakage, thereby providing low maintenance expense and waste in total.

COVID-19 Impact:

The outbreak of the Covid-19 pandemic has negatively impacted the growth trajectory of the global UV LED market due to the announcement of worldwide lockdowns and disruptions in the supply chain. Pandemic has negatively impacted the commercial, residential, agriculture, industrial, consumer electronics, energy, automotive sectors. The market is expected to see a speedy recovery during the post-pandemic landscape due to the ongoing product innovations and favorable government initiatives to encourage the growth of the global market.

UV LED Market: Growth Drivers

Surge in trend of smart appliances will drive the growth of the global market

The surge in the trend of smart home appliances globally is likely to offer ample impetus to the growth of the global U V LED market. UV technology is witnessing the high implementation of a wide range of smart home appliances like advanced kitchen appliances, air conditioners, refrigerators, and smart water purifiers. UV LED offers high-cost efficiency, low power consumption, and high end-feature as compared to UV lamps and bulbs. Different companies engaged in the manufacturing of electronic appliances are highly integrating UV LED into products to make them more effective and innovative. The eco-friendly composition of UV LED is further augmenting the growth of the global market.

Report Scope:

UV LED Market: Restraints

Tariffs imposed by government are likely to be the restraining factor in global market.

Recently many tariffs have been imposed by the government, particularly the U.S. government, which in turn has emerged as a key factor hampering the growth of the global market as these measures will scale up the cost of such products significantly. Another major factor restraining the growth of the global market is the high manufacturing and installation cost of UV LEDs when compared to other alternatives. Manufacturers are finding difficulty in order to improve efficiency and light output while increasing the usability life and reliability of LED products.

UV LED Market: Opportunities

Favorable government initiatives to support the pharmaceutical and healthcare sector, thus creating immense growth opportunities for market.

The government is investing heavily in the pharmaceutical and medical sector to encourage the novel drug development process, which will offer many growth prospects in the forthcoming years. The growing applications of ultraviolet LEDs in the pharmaceutical sector are another key factor likely to create new avenues in the global market. UV LEDs are adopted in different pharmaceutical processes like vitamin analysis, protein synthesis, DNA analysis, and phototherapy. Additionally, the wide-scale acceptance of UV LED lights will further support the market growth. The growing focus of market leaders on strategic alliances and acquisitions in order to stay at the front in the market will further contribute towards the expansion of growth opportunities along with increasing market share.

UV LED Market: Challenges

Technical issues in regard to UV LED are a huge challenge in the global market.

Technical issues arising during the manufacturing of UV LEDs are a huge challenge faced by vendors in the market. The growing complex demand from end-users will also contribute to the growing tech problems in the process.

UV LED Market: Segmentation

The global UV LED market can be segmented into application, type, industry vertical, and region.

By industry vehicle, the market can be segmented into commercial, industrial, residential, agriculture, and healthcare & medical.

By type, the market can be segmented into UV-C, UV-B, and UV-A.

By application, the market can be segmented into counterfeit detection, indoor gardening, disinfection, curing, and others.

Recent Developments

• OSRAM, in January 2021, unveiled their new portable UV-C air cleaner to fight against viruses in this Covid-19 pandemic. The invisible ultraviolet light kills viruses with a reliability of 99.9%.
• A UVC-based surface disinfectant system – BIO-SCAN was launched in May 2020 by BIO-UV Group. This newly developed product will help to fight against the growing threats of COVID-19 across France.

UV LED Market: Regional Landscape

Asia Pacific accounts for the largest share in the global UV LED market due to the growing demand in the region. Furthermore, the rising living standard and improving economic conditions are further likely to upscale the growth of the regional market in the forthcoming years.

North America is also a leading region in the global market due to the presence of prominent market leaders in the region.

UV LED Market: Competitive Landscape

Some of the significant players in the global UV LED market include Phoseon Technology, Sensor Electronic Technology, Crystal IS, Semileds Corporation, Koninklijke Philips N.V., OSRAM, Nichia Corporation, Lumileds Holding B.V., L.G. Innotek Co. Ltd., and Nordson Corporation.

Global UV LED market is segmented as follows:

By Industry Vertical

• Healthcare and Medical
• Agriculture
• Residential
• Industrial
• Commercial

By Type

• UV-A
• UV-B
• UV-C

By Application

• Curing
• Disinfection
• Indoor Gardening
• Counterfeit Detection

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa