Uv Led Market
UV LED Market Forecasts to 2030 - Global Analysis By Type (UV-A LED, UV-B LED, and UV-C LED), Voltage, Power Output, Distribution Channel, Application, End User and By Geography
|
Years Covered |
2022-2030 |
|
Estimated Year Value (2024) |
US $1.72 BN |
|
Projected Year Value (2030) |
US $7.08 BN |
|
CAGR (2024- 2030) |
26.6% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
North America |
According to Stratistics MRC, the Global UV LED Market is accounted for $1.72 billion in 2024 and is expected to reach $7.08 billion by 2030 growing at a CAGR of 26.6% during the forecast period. An electric current flowing through a semiconductor light source called a UV LED (Ultraviolet Light Emitting Diode) causes it to emit ultraviolet (UV) light. UV LEDs are more energy-efficient, smaller, and last longer than conventional UV lights. These LEDs have a wide range of uses, including water purification, surface sterilization, ink drying, and counterfeit currency detection. UV LEDs provide fine-grained control over the wavelength emitted for particular purposes and are more eco-friendly than mercury-based UV lamps.
According to the International Federation of Robotics (IFR), the installation of industrial robots is anticipated to reach 718 thousand units by 2026, creating numerous opportunities for UV LED applications in manufacturing processes.
Market Dynamics:
Driver:
Increasing demand for sterilization
UV LEDs are increasingly used for disinfecting surfaces, air, and water, driven by the need for effective sterilization methods in various industries. The healthcare sector, in particular, has seen a surge in demand for UV sterilization devices to ensure hygienic conditions. Additionally, the food and beverage industry is adopting UV LED technology to maintain safety and extend the shelf life of products. The ongoing emphasis on maintaining sanitation and preventing the spread of infectious diseases further fuels the demand for UV sterilization solutions. The advancements in UV LED technology, leading to higher efficiency and longer lifespan, also contribute to market growth.
Restraint:
Lack of standardization
UV LEDs with different specifications are produced by different manufacturers, which results in differences in quality and performance. Because of this lack of consistency, end consumers find it challenging to compare products and select the best option for their requirements. Furthermore, the creation of industry-wide benchmarks is hampered by the lack of standardized testing and assessment techniques. The global adoption of UV LED technology is made more difficult by regional differences in regulatory norms. These challenges necessitate the development of industry standards to ensure the reliability and compatibility of UV LED products.
Opportunity:
Rising demand for UV curing
UV LEDs are widely used in the curing of adhesives, coatings, and inks, offering benefits such as faster curing times and energy efficiency. The electronics industry is a major contributor to the demand for UV curing, as it requires precise and efficient curing processes for various applications. Additionally, the automotive and aerospace industries are adopting UV curing for coating and bonding applications, driving market growth. Future developments in UV LED technology and the creation of new uses are anticipated to support the UV curing solutions industry.
Threat:
Adoption barriers in certain industries
High initial costs and limited awareness about the advantages of UV LEDs deter some potential users. In industries with established processes and technologies, there is resistance to adopting new methods, leading to slower market penetration. Additionally, concerns about the potential health risks associated with UV exposure can hinder adoption in specific sectors. The need for specialized training and expertise to handle UV LED equipment also presents a challenge. Overcoming these adoption barriers requires targeted awareness campaigns and cost-effective solutions to demonstrate the value of UV LED technology.
Covid-19 Impact
The Covid-19 pandemic has significantly impacted the UV LED market, driving increased demand for disinfection and sterilization solutions. The heightened focus on hygiene and sanitization during the pandemic has accelerated the adoption of UV LED technology. Healthcare facilities, public spaces, and transportation systems have implemented UV sterilization to mitigate the spread of the virus. However, supply chain disruptions and manufacturing challenges during the pandemic have affected the production and availability of UV LED products. The pandemic has also underscored the importance of robust sterilization methods, prompting long-term investments in UV LED technology.
The counterfeit detection segment is expected to be the largest during the forecast period
The counterfeit detection segment is expected to account for the largest market share during the forecast period, due to the increasing need for reliable and effective counterfeit detection methods. The rise in counterfeit activities across various industries, including pharmaceuticals and consumer goods, drives the demand for advanced detection solutions. Additionally, governments and organizations are implementing stringent measures to combat counterfeiting, further supporting the growth of this sector.
The healthcare segment is expected to have the highest CAGR during the forecast period
Over the forecast period, the healthcare segment is predicted to witness the highest growth rate, due to the rising adoption of UV LED technology for sterilization and disinfection purposes. The healthcare industry's focus on maintaining hygiene and preventing infections drives the demand for UV sterilization devices. Hospitals, clinics, and laboratories are incorporating UV LED technology to ensure safe and sterile environments. Additionally, the use of UV LEDs for air and water purification in healthcare facilities further contributes to market growth.
Region with largest share:
During the forecast period, Asia Pacific region is expected to hold the largest market share, due to the rapid industrialization and increasing adoption of UV LED technology in various applications. Countries such as China, Japan, and South Korea are at the forefront of this growth, driven by strong manufacturing capabilities and technological advancements. The region's expanding healthcare infrastructure and growing awareness about the benefits of UV sterilization also contribute to market growth. Additionally, the increasing demand for energy-efficient and environmentally friendly solutions supports the adoption of UV LED technology.
Region with highest CAGR:
Over the forecast period, the North America region is anticipated to exhibit the highest CAGR, owing to the increasing adoption of UV LED technology across various industries. The region's well-established healthcare infrastructure and focus on advanced sterilization methods drive the demand for UV LED solutions. The presence of leading UV LED manufacturers and continuous technological innovations further support market growth. Additionally, the stringent regulations regarding hygiene and safety in industries such as food and beverage and pharmaceuticals boost the adoption of UV sterilization devices.
Key players in the market
Some of the key players profiled in the UV LED Market include Osram Licht AG, Royal Philips, LG Innotek, Nitride Semiconductors Co., Ltd., Seoul Viosys Co., Ltd., Heraeus Noblelight GmbH, San'an Optoelectronics Co., Ltd., UV LED, Inc., Kyocera Corporation, Nichia Corporation, Luminus Devices, Inc., DOWA Electronics Materials Co., Ltd., Epistar Corporation, Würth Elektronik GmbH & Co. KG, Phoseon Technology, Excelitas Technologies Corp., and Bolb Inc.
Key Developments:
In December 2024, Royal Philips announced the expansion of its strategic partnership with Sim&Cure, a leading provider of advanced digital solutions for neurovascular therapy. The partnership between the two companies started 5 years ago and is now entering into a next phase.
In August 2024, Sanan Semiconductor has entered into a Research Partnership with the Institute for Power Electronics (LEE) at FAU Erlangen-Nürnberg, one of the most innovative universities worldwide. This research will focus on advanced innovation in Power Electronic systems focusing on SiC technology.
Types Covered:
• UV-A LED
• UV-B LED
• UV-C LED
Voltages Covered:
• High-Voltage UV LEDs
• Low-Voltage UV LEDs
Power Outputs Covered:
• Less than 1 W
• 1 W – 5 W
• More than 5 W
Distribution Channels Covered:
• Retail and Direct Sales
• Online Sales
Applications Covered:
• Counterfeit Detection
• Optical Sensing & Instrumentation
• Water Purification
• UV Curing
• Disinfection & Sterilization
• Medical Light Therapy
• Other Applications
End Users Covered:
• Commercial
• Industrial
• Residential
• Healthcare
• Horticulture
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global UV LED Market, By Type
5.1 Introduction
5.2 UV-A LED
5.3 UV-B LED
5.4 UV-C LED
6 Global UV LED Market, By Voltage
6.1 Introduction
6.2 High-Voltage UV LEDs
6.3 Low-Voltage UV LEDs
7 Global UV LED Market, By Power Output
7.1 Introduction
7.2 Less than 1 W
7.3 1 W – 5 W
7.4 More than 5 W
8 Global UV LED Market, By Distribution Channel
8.1 Introduction
8.2 Retail and Direct Sales
8.3 Online Sales
9 Global UV LED Market, By Application
9.1 Introduction
9.2 Counterfeit Detection
9.3 Optical Sensing & Instrumentation
9.4 Water Purification
9.5 UV Curing
9.6 Disinfection & Sterilization
9.7 Medical Light Therapy
9.8 Other Applications
10 Global UV LED Market, By End User
10.1 Introduction
10.2 Commercial
10.3 Industrial
10.4 Residential
10.5 Healthcare
10.6 Horticulture
10.7 Other End Users
11 Global UV LED Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 Osram Licht AG
13.2 Royal Philips
13.3 LG Innotek
13.4 Nitride Semiconductors Co., Ltd.
13.5 Seoul Viosys Co., Ltd.
13.6 Heraeus Noblelight GmbH
13.7 San'an Optoelectronics Co., Ltd.
13.8 UV LED, Inc.
13.9 Kyocera Corporation
13.10 Nichia Corporation
13.11 Luminus Devices, Inc.
13.12 DOWA Electronics Materials Co., Ltd.
13.13 Epistar Corporation
13.14 Würth Elektronik GmbH & Co. KG
13.15 Phoseon Technology
13.16 Excelitas Technologies Corp.
13.17 Bolb Inc.
List of Tables
1 Global UV LED Market Outlook, By Region (2022-2030) ($MN)
2 Global UV LED Market Outlook, By Type (2022-2030) ($MN)
3 Global UV LED Market Outlook, By UV-A LED (2022-2030) ($MN)
4 Global UV LED Market Outlook, By UV-B LED (2022-2030) ($MN)
5 Global UV LED Market Outlook, By UV-C LED (2022-2030) ($MN)
6 Global UV LED Market Outlook, By Voltage (2022-2030) ($MN)
7 Global UV LED Market Outlook, By High-Voltage UV LEDs (2022-2030) ($MN)
8 Global UV LED Market Outlook, By Low-Voltage UV LEDs (2022-2030) ($MN)
9 Global UV LED Market Outlook, By Power Output (2022-2030) ($MN)
10 Global UV LED Market Outlook, By Less than 1 W (2022-2030) ($MN)
11 Global UV LED Market Outlook, By 1 W – 5 W (2022-2030) ($MN)
12 Global UV LED Market Outlook, By More than 5 W (2022-2030) ($MN)
13 Global UV LED Market Outlook, By Distribution Channel (2022-2030) ($MN)
14 Global UV LED Market Outlook, By Retail and Direct Sales (2022-2030) ($MN)
15 Global UV LED Market Outlook, By Online Sales (2022-2030) ($MN)
16 Global UV LED Market Outlook, By Application (2022-2030) ($MN)
17 Global UV LED Market Outlook, By Counterfeit Detection (2022-2030) ($MN)
18 Global UV LED Market Outlook, By Optical Sensing & Instrumentation (2022-2030) ($MN)
19 Global UV LED Market Outlook, By Water Purification (2022-2030) ($MN)
20 Global UV LED Market Outlook, By UV Curing (2022-2030) ($MN)
21 Global UV LED Market Outlook, By Disinfection & Sterilization (2022-2030) ($MN)
22 Global UV LED Market Outlook, By Medical Light Therapy (2022-2030) ($MN)
23 Global UV LED Market Outlook, By Other Applications (2022-2030) ($MN)
24 Global UV LED Market Outlook, By End User (2022-2030) ($MN)
25 Global UV LED Market Outlook, By Commercial (2022-2030) ($MN)
26 Global UV LED Market Outlook, By Industrial (2022-2030) ($MN)
27 Global UV LED Market Outlook, By Residential (2022-2030) ($MN)
28 Global UV LED Market Outlook, By Healthcare (2022-2030) ($MN)
29 Global UV LED Market Outlook, By Horticulture (2022-2030) ($MN)
30 Global UV LED Market Outlook, By Other End Users (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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