UV LED Market size was valued at US$ 451.26 Mn. in 2021 and the total UV LED revenue is expected to grow at 22.1 % through 2022 to 2029, reaching nearly US$ 2229.22 Mn.
UV LED Market Overview
The business intelligence and consulting firm Maximize Market Research has published a report on UV LED Market which covers extensive regional analysis and competitive landscapes of the market and industry. The analysis consists many aspects of market and considers the key drivers and opportunities, restraints and challenges in forecasted period. The report includes the competitive and pricing analysis with the regional and demand analysis. The growth is also assumed with the help Compound Annual Growth Rate in upcoming forecasted period.
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Market Scope
The research comprises of the scrutinized date and results by the leading analyst and industry experts. It looks at forecasted data, revenues generated, and major and minor events in the market. It also considers the key players and their strategies to deal with challenges in political as well as the economic factors that creates risks to the market. The report is designed in such a manner that it provides the readers the appropriate and up to date market data in a graphical and tabular forms. Research tools are used to analyse the threats and opportunities in the forecasted period by SWOT, PESTLE and PORTER’S five forces to understand the underlying factors affecting the industry.
Segmentation
By technology, the UV-A segment held a commanding 56.3% market share for UV LEDs in 2021. Over the course of the forecast period, the market is anticipated to expand at a CAGR of 18.3%, driven by a number of high-end features provided by UV-A LEDs, including low power consumption, efficient elimination, and short-wavelength energy. In order to provide high-end products and maintain their competitiveness in the market during the forecast period, manufacturers are heavily concentrating on implementing UV LED technology.
By 2029, 45% of total revenue will come from the disinfection and sterilisation application, as more water treatment and purification facilities will use these systems. To safeguard homes and families from common pathogenic sources of water-borne diseases, UV-C LEDs are built into POU purifiers. To defend against bacteria and other microbiological pollutants, these devices use UV LED. Manufacturers of UV LEDs will have access to new markets as a result of the demand in European nations for sophisticated sterilisation and disinfection systems. In order to gain a competitive edge in the market, some players are creating brand-new products that make use of UV LEDs.
The increasing use of UV LED technology in the UV curing industry is one of the key factors propelling the global UV LED technology market. In the UV curing procedure, high-intensity ultraviolet light is used to quickly dry or "cure" coatings, inks, or adhesives. Due to its superior energy efficiency, reduced thermal loss, lack of mercury, small manufacturing footprint, and superior optical design, UV LED is particularly useful for curing applications in the paper and wood coating industries.
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Key Players
• Crystal IS
• SemiLEDs Corporation
• Koninklijke Philips N.V.
• LG INNOTEK
• Sensor Electronic Technology, Inc.
• NICHIA CORPORATION
• Seoulviosys Co., Ltd.
• Phoseon Technology
• Heraeus Holding.
• Seoulviosys Co., Ltd.
• Halma plc
• Nordson Corporation,
• Lumileds Holding B.V
• UV energy Solutions Pvt. Ltd.
• Baldwin Technology Company, Inc
Market Regional Analysis
The UV LED region held the largest share of the industry and is expected to grow at a significant rate over the forecast period. The regional analysis is conducted to while research to understand the regional market and their risks and opportunities. The market in each region is thoroughly investigated , enabling for the identification of regional market trends, restrictions and development opportunities.
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About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology, and communication, cars, and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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Mar 13, 2023