The UV LED market is expected to grow at a compound annual growth rate of 14.47% over the forecast period to reach a market size of US$726.544 million in 2027, up from US$282.087 million in 2020.
The demand for UV LED across ink, adhesive, and coating industries for the process of curing plays a significant role in the development of the UV LED market. Factors such as the increasing need to validate currency, air, and water purification, and general and horticulture lighting are driving the growth of this market. Usage of these LEDs in chip manufacturing and biomedical devices are other factors augmenting the need for these solutions. Due to advancements in technology, UV LED has penetrated various industries such as medical, agriculture, security, and horticulture, along with industrial and chemical curing.
The first section of the report deals with detailed research methodology for calculating market size and forecasts, secondary data sources used and the primary inputs that were taken for data validation. This section also outlines various segmentations that have been covered as part of the report.
The next section provides comprehensive market dynamics through an overview section along with growth drivers, challenges, and opportunities that exist in the current market. This section of the report also provides the supplier and industry outlook as a whole; key industry, global, and regional regulations which are determining the market growth, and a brief technological aspect of UV LED. Complete industry analysis has also been covered through Porter’s five forces model as a part of this report section.
Thirdly, the UV LED market has been segmented on the basis of type and end-user industry. On the basis of type, the market can be segmented into UVA, UVB, and UVC. The market is divided into end-user industries such as manufacturing, agriculture, defense, chemicals, and healthcare, among others. Important regions for vendors in terms of market size are covered through detailed geographical segmentation. Geographical regions covered as a part of this section are the Americas, Europe Middle East, and Africa, and the Asia Pacific.
Recent development and expansions
The pandemic had a significant impact on several industries. However, as a result of the pandemic, there was a greater emphasis on hygiene and sanitation due to the increased public concern for a healthier and safer lifestyle. During the forecast period, an increase in the demand for UV systems in the healthcare and medical sectors is expected to drive the UV LED market. When compared to other verticals, the business of UV systems in the healthcare industry is less affected. UV systems are commonly used in a wide range of medical applications, including dialysis machines, catheters, hearing aids, hydrogels, and test strips. There is an increased demand for medical equipment and other necessary devices to assist COVID-19 patients and stop the virus's spread.
|Market Size Value in 2020||US$282.087 million|
|Market Size Value in 2027||US$726.544 million|
|Growth Rate||CAGR of 14.47% from 2020 to 2027|
|Forecast Unit (Value)||USD Million|
|Segments Covered||Type, End-User, And Geography|
|Regions Covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies Covered||Lumileds, Honle Group, IPG Photonics, Nordson Corporation, SemiLeds Corporation, Nichia Corporation, Mouser Electronics|
|Customization Scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the UV led market size by 2027?
A1. The UV LED market is expected to reach a market size of US$726.544 million by 2027.
Q2. What is the size of the global UV led market?
A2. UV LED Market was valued at US$282.087 million in 2020.
Q3. What are the growth prospects for the UV led market?
A3. The UV LED market is expected to grow at a CAGR of 14.47% over the forecast period.
Q4. What factors are anticipated to drive the UV led market growth?
A4. Factors such as the increasing need to validate currency, air, and water purification, and general and horticulture lighting are driving the UV led market growth.
Q5. Who are the major players in the UV led market?
A5. Key industry players profiled as part of the UV LED market report are Lumileds, Honle Group, IPG Photonics, Nordson Corporation, SemiLeds Corporation, and Nichia Corporation.
1.1. Market Overview
1.2. Covid-19 Scenario
1.3. Market Definition
1.4. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. UV LED Market Forecast by type (US$ million)
6. UV LED Market Forecast by End User Industry (US$ million)
7. UV LED Market Forecast by Geography (US$ million)
7.2. North America
7.3. South America
7.4.1. United Kingdom
7.5. Middle East and Africa
7.5.2. Saudi Arabia
7.6. Asia Pacific
7.6.7. South Korea
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
9.2. Honle Group
9.3. IPG Photonics
9.4. Nordson Corporation
9.5. SemiLeds Corporation
9.6. Nichia Corporation
9.7. Mouser Electronics
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