UV LED Market by Type (UV-A, UV-B, UV-C); by Material (Silicon Carbide, Gallium Nitride, Sapphire, Other); by Application (Curing, Purification, Indoor Gardening, Counterfeit Detection, Others); by Industry Vertical (Healthcare & Medical, Agriculture, Industrial, Residential, Commercial); and by Region (North America, Europe, Asia Pacific, Latin America, MEA) - Global Forecasts 2022 to 2027

The global UV LED market gathered revenue around USD 0.45 billion in 2021 and market is set to grow USD 1.9 billion by the end of 2027 and is estimated to expand at a modest CAGR of 20.7% during the prediction period 2022 to 2027.

UV Light Emitting Diodes (LEDs) is a solid-state device that produces light when an electrical current flows from the positive (p-type or anode) side of the circuit to the negative (n-type or cathode) side. This is known as the ‘p-n junction’. Each LED is made to provide a particularly narrow range of UV wavelengths. The wavelength of these LEDs ranges from 10 nm to 400 nm.

Global UV LED Market Dynamics:

The increase in environmental concerns drives the UV LED market during the forecast period. The UV LEDs is used for numerous application in the industries such as sterilization, detection, curing, and security. UV LEDs are environmental friendly as they do not contain harmful mercury, do not produce ozone, and consume less energy as well. These primary advantages uplift the demand for UV LEDs that are anticipated to accelerate its market growth. UV-C LEDs are rapidly growing in applications including germicidal (UVGI) for air, surface, and water purification. UV LED curing provides solutions to the negative environmental effect because it offers improved flux density, stability, and long-life hours, proliferating the UV LED market growth.

In addition, the increasing demand for UAV LED for sterilization and disinfectants propelled the UV LED market growth throughout the forecast period. Ultraviolet C (UV-C) Sterilization LED Lighting is one of the growing markets in COVID-19 pandemic that mainly aims to disinfect germs for surface contacts. Currently, Low-pressure Mercury UV-C Sterilization light is also used but it consumes more energy and requires wait time to start up the sterilization cycles. Thus, UV-C LED lighting has become popular that companies are investing resources to design UV-C LED light fixtures to be used in hotels, car trains or hospitals.

The report also provides an in-depth analysis of UV LED market dynamics such as drivers, restraints, opportunities, and challenges:

Drivers

• The eco-friendly composition of UV LED
• The rise in utilization of UV curing system
• Government initiatives toward energy-efficient products

Restraints

• High installation cost

Opportunities

• Increase in a trend toward the development of advanced UV LEDs for newer applications

Challenges

• Precise radiometric characterization of UV-LEDs

Report Coverage

Based on the type, the UV-A segment has a significant market share during the forecast period because it is used for UV curing, validation and counterfeit detection

Based on the type, the UV LED market has been segmented into UV-A, UV-B, and UV-C. The UV-A segment in UV LED market has a significant market share during the forecast period because it is used for UV curing, validation, and counterfeit detection. Moreover, the demand for this technology is majorly driven by its ability to consume lesser power output. In addition, LED-based UV provides substantial benefits over conventional curing technologies that include fluorescent and mercury owing to lower cost of ownership, increased efficiency and system miniaturizing.

Based on the industry vertical, the industrial segment capture the largest market share during the forecast period due to an increase in the usage of environment safe LEDs and government initiatives toward energy potency product

Based on the industry vertical, the UV LED market is segmented into healthcare & medical, agriculture, industrial, residential, commercial. The industrial segment in UV LED industry is expected to hold the largest market share during the forecast period due to an increase in the usage of environment safe LEDs and government initiatives toward energy potency products.

Based on region, Asia Pacific is growing at the highest CAGR during the forecast period owing to the demand for freshwater for the residential and industrial sector

Asia Pacific is growing at the highest CAGR during the forecast period owing to the growth in the region is mainly attributed to the increasing demand for freshwater in the residential and industrial sectors. The UV LED industry growth in this region is predominantly rising due to leading economies such as China, India, Japan and Others. For instance, according to the World Bank Reports, investments done in water and sanitation in Asia-Pacific is highest and has been increasing rapidly from USD50Mn to USD910Mn in recent years.

Some of the prominent players in the UV LED Market include:

LG Electronics

Koninklijke Philips N.V.

Crystal IS, Inc.

NICHIA CORPORATION

SemiLEDs Corporation

Phoseon Technology

Seoul Viosys Co. Ltd

DOWA Electronics Materials Co., Ltd.

Halma plc

Heraeus Holding

OSRAM GmbH

Lumileds Holding B.V.

NITRIDE SEMICONDUCTORS. Co.,Ltd.

Honle UV America, Inc.

SENSOR ELECTRONIC TECHNOLOGY, INC.

Segments Covered in the Report

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2027 and covers subsequent region in its scope:

By Type

• UV-A
• UV-B
• UV-C

By Material

• Silicon Carbide
• Gallium Nitride
• Sapphire
• Other

By Application

• Curing
• Purification
• Indoor Gardening
• Counterfeit Detection
• Others

By Industry Vertical

• Healthcare & Medical
• Agriculture
• Industrial
• Residential
• Commercial

By Region

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

COVID-19 Impact on the UV LED Market Analysis:

The slowdown of the economy happened due to the strict lockdown imposed by the government to limit the spread of the COVID-19 virus. However, the growing demand for UV systems in the healthcare and medical industry is expected to propel the UV LED market share over the forecast period. The business for UV systems specific to the healthcare industry is less affected as compared to other verticals. In the era of COVID-19 the UV LED technology are used to kill the viruses, bacteria, and used as surface disinfectant. Thus, this will accelerate the demand for UV LED industry. For instance, according to secondary sources, the UVC Room Sterilization Lamp is tested and proven to properly disinfect and inactivate 99.99 percent of bacteria and viruses.

*Note: A detailed analysis is specific to the market will be provided in the report

The report also provides an in-depth analysis of key trends in the UV LED market:

• The scope for a UV LED is becoming considerable in sterilization applications, as it is being proved to be the most inexpensive way to offer safe drinking water throughout the globe. This additionally gives financial benefits to the players with increasing consumption.
• The rise in the demand for UV systems in the healthcare and medical industry is expected to accelerate the UV LED market throughout the forecast period.

The report also provides an in-depth analysis of recent news developments and investments:

• In January 2021, Sensor Electronic Technology (SETi) and Seoul Viosys, the leading global companies of the UV LED technology and subsidiaries of Seoul Semiconductor, partnered together to release their new Violeds technology which can quickly and efficaciously kill 99.437% of SARS-CoV-2 in less than one second. The testing became performed in December 2020 through KR Biotech, a South Korea-based research institute focusing on sterilization testing of the new coronavirus.
• In January 2021, OSRAM released their new portable UV-C air cleaner that combats against viruses and bacteria in this pandemic scenario of Covid-19. The invisible, ultraviolet light destroys viruses and bacteria with a reliability of 99.9%.

Key Points Covered in UV LED Market Study:

• Growth of UV LED in 2022
• Market Estimates and Forecasts (2017-2027)
•  Brand Share and Market Share Analysis
•  Key Drivers and Restraints Shaping Market Growth
•  Segment-wise, Country-wise, and Region-wise Analysis
•  Competition Mapping and Benchmarking
•  Recommendation on Key Winning Strategies
•  COVID-19 Impact on Demand for UV LED and How to Navigate
•  Key Product Innovations and Regulatory Climate
•  UV LED Consumption Analysis
•  UV LED Production Analysis
•  UV LED and Management