The UV LED market is expected to grow at a compound annual growth rate of 25.80% over the forecast period to reach a market size of US$599.556 million from US$381.058 million in 2019. Demand of the UV LED across ink, adhesive and coating industries for the process of curing plays a significant role in the development of UV LED market. Factors such as 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 advancement in technology, UV LED has penetrated into various industries such as medical, agriculture, security, horticulture along with industrial and chemical curing.
Research Methodology
First section of the report deals with detailed research methodology for calculating market size and forecasts, secondary data sources used and the primary inputs which were taken for data validation. This section also outlines various segmentation which have been covered as part of the report.
Market Dynamics
Next section provides comprehensive market dynamics through an overview section along with growth drivers, challenges and opportunities which exist in the current market. This section of the report also provides 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.
Segmentation
Thirdly, UV LED market has been segmented on the basis of type and end user industry. On the basis of type, market can be segmented into UVA, UVB and UVC. Whereas under end user industry, market is segmented into manufacturing, agriculture, defense, chemical, healthcare among others. Important regions for vendors in terms of market size is covered through detailed geographical segmentation. Geographical regions covered as a part of this section are Americas, Europe Middle East and Africa and Asia Pacific.
Company Profiles
Finally, competitive intelligence section deals with major players in the market, their market shares, growth strategies, products, financials, and recent investments among others. Key industry players profiled as part of this section are Lumileds, LG Innotek, Honle Group, Genesis Photonics, Nordson Corporation, SemiLeds Corporation and Nichia Corporation along with others.
Frequently Asked Questions (FAQs)
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