GLOBAL UV LED MARKET FORECAST 2019-2028

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GLOBAL UV LED MARKET FORECAST 2019-2028

The global UV LED market is anticipated to grow with a CAGR of 20.01%, generating a revenue of $1529.9 million by 2028. The UV LED market is projected to take over the conservative UV mercury lamps industry due to its distinct features such as long life, tight tolerance of wavelengths, low power consumption, and environmentally friendly. Additionally, UV LED lamps possess high luminous efficiency and minimize power consumption by more than 60%. The base years considered for the market study is 2018, and the forecast years are between 2019 and 2028.

GLOBAL UV LED MARKET FORECAST 2019-2028

Global Uv Led Market by Technology (Uv – A, Uv – B, Uv – C) by Application (Uv Curing, Medical Light Therapy, Sterilization, Optical Sensors and Instrumentation, Counterfeit Detection, Other Applications) and by Geography.

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The global UV LED market is anticipated to grow with a CAGR of 20.01%, generating a revenue of $1529.9 million by 2028. The UV LED market is projected to take over the conservative UV mercury lamps industry due to its distinct features such as long life, tight tolerance of wavelengths, low power consumption, and environmentally friendly. Additionally, UV LED lamps possess high luminous efficiency and minimize power consumption by more than 60%. The base years considered for the market study is 2018, and the forecast years are between 2019 and 2028.

Key factors responsible for the global UV LED market growth: 

  • Growing number of initiatives by the government
  • Surging use of UV curing in new applications
  • Bans imposed on mercury lamps
  • Rising utility of safe and eco-friendly products

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The primary drivers fueling the global UV LED market growth include a surge in safe and eco-friendly products, and UV curing in new applications. The manufacturers associated with LEDs are pursuing eco-friendly methods, that deliver better and consistent performance than conventional solvent-borne systems. Moreover, high growth forecasts of UV curing in innovative applications like bio-based products, resins, disinfection, and purification has led to increased adoption of UV LEDs in the market.

In 2019, nearly 44.21% of the revenue share was garnered by the UV curing segment, under the application category. Conversely, the sterilization segment is projected to be the fastest-growing application, by the end of the forecast period. UV LED curing offers exceptional benefits, such as reduced footprints, enhanced production speed, and enables the use of 100% solid formulations. As a result, companies are rigorously investing in this application. A rise in the global population and the scarcity of pure water has also attracted several UV LED manufacturers towards the untapped water purification application market. Additionally, due to the coronavirus pandemic, the need for sterilization has significantly increased as a measure to contain the virus’ spread.

UV LED lights are deemed expensive due to the presence of various systems to fulfill diverse and specific applications. As a result, they consume added maintenance efforts as well as energy costs. Moreover, UV LEDs are not adept at converting the output power light and end up dissipating excessive heat. Therefore, high prices and undue thermal generation by UV LED devices are expected to hinder their adoption and obstruct market growth.

The report scope of the global UV LED market includes the segmentation analysis of technology and application.

Market by Technology:

  • UV-A
  • UV-B
  • UV-C

Market by Application:

  • UV Curing
  • Medical Light Therapy
  • Sterilization
  • Optical Sensors and Instrumentation
  • Counterfeit Detection
  • Others

Geographically, the global UV LED market has been segmented based on four major regions, including:

  • North America: the United States and Canada
  • Asia Pacific: India, China, Japan, South Korea, Indonesia, Thailand, Vietnam, Australia & New Zealand, and Rest of Asia Pacific
  • Europe: Germany, the United Kingdom, Italy, France, Belgium, Russia, Poland, and Rest of Europe
  • Rest of World: Latin America, the Middle East & Africa

Geographically, North America dominated the global market with a fair revenue share of 40.13% in 2019. In 2019, the United States dominated the North America market, owing to an increase in the number of applications in sectors like, printing, agriculture, security, commercial, and residential. Consequently, these factors propelled the demand for the UV LED. Also, the North America UV LED market is more developed than other regions, primarily due to the presence of high-security activities.

The Asia Pacific is anticipated to be the fastest-growing region by the end of the forecast period. The rise in industrialization in countries such as India, China, and South Korea, incorporated with an increase in manufacturing activities, has bolstered the Asia Pacific UV LED market growth. The Asia Pacific is also expected to emerge as the most prominent regional market, owing to a massive rise in developers and the flourishing electronics sector. For instance, it is projected that India’s middle-class population will surge from 250 million to 583 million by 2025, thereby accounting for over 40% of the community. As a result, the country will witness a subsequent expansion in commercial utilization.

Major market players of the global UV LED market are: 

  • Crystal IS Inc (Asahi Kasei)
  • Honle UV America Inc
  • Koninklijke Philips NV
  • LG Innotek Co Ltd
  • Sensor Electronic Technology
  • Others

Key strategies adopted by global UV LED companies:

In May 2020, Heraeus Noblelight entered a partnership agreement with Heidelberger Druckmaschinen for excellent UV LED curing resolutions used in sheetfed offset printing machinery. In June 2020, Philips established an FDA premarket endorsement for its HeartStart FRx and HeartStart FR3 automated external defibrillators.

Key trends of the global UV LED market:

  • There have been increased utilities of UV LED lights in diverse applications.
  • Considerable developments are being made to increase the efficiency of UV LEDs.
  • UV – C segment is anticipated to be the fastest-growing technology.
  • UV curing segment is projected to generate the highest revenue, within the application category.
  1. RESEARCH SCOPE & METHODOLOGY
    • STUDY OBJECTIVES
    • SCOPE OF STUDY
    • METHODOLOGY
    • ASSUMPTIONS & LIMITATIONS
  2. EXECUTIVE SUMMARY
    • MARKET SIZE & ESTIMATES
    • MARKET OVERVIEW
  3. MARKET DYNAMICS
    • PARENT MARKET ANALYSIS
    • MARKET DEFINITION
    •    KEY DRIVERS
      • INCREASE IN INITIATIVES BY GOVERNMENT
      • SURGING USAGE OF UV CURING IN NEW APPLICATIONS
      • BAN ON MERCURY LAMPS PROPELLED THE NEED OF UV LEDs
      • GROWING USAGE OF SAFE AND ECO-FRIENDLY PRODUCTS
    •    KEY RESTRAINTS
      • HIGH COST OF UV LED DEVICES
      • EXCESS THERMAL HEAT GENERATED BY THE UV LEDs
  1. KEY ANALYTICS
    •    PORTER’S FIVE FORCE ANALYSIS
      • THREAT OF NEW ENTRY
      • THREAT OF SUBSTITUTION
      • BUYER’S POWER
      • SUPPLIER’S POWER
      • COMPETITIVE RIVALRY
    • SUPPLY CHAIN ANALYSIS
    • IMPACT OF COVID-19 ON UV-LED MARKET
    • INNOVATIONS IN UV-LED PRODUCTS DUE TO COVID-19
    • REGULATORY FRAMEWORK
    • OPPORTUNITY MATRIX
    • VENDOR LANDSCAPE
    • KEY INVESTMENT INSIGHT
  2. MARKET BY TECHNOLOGY
    • UV-A
    • UV-B
    • UV-C
  3. MARKET BY APPLICATION
    • UV CURING
    • MEDICAL LIGHT THERAPY
    • STERILIZATION
    • OPTICAL SENSORS AND INSTRUMENTATION
    • COUNTERFEIT DETECTION
    • OTHER APPLICATIONS
  4. GEOGRAPHICAL ANALYSIS
    •    NORTH AMERICA
      • THE UNITED STATES
      • CANADA
    •    EUROPE
      • GERMANY
      • FRANCE
      • THE UNITED KINGDOM
      • ITALY
      • RUSSIA
      • BELGIUM
      • POLAND
      • REST OF EUROPE
    •    ASIA PACIFIC
      • JAPAN
      • CHINA
      • INDIA
      • AUSTRALIA & NEW ZEALAND
      • SOUTH KOREA
      • THAILAND
      • INDONESIA
      • VIETNAM
      • REST OF ASIA PACIFIC
    •    REST OF WORLD
      • LATIN AMERICA
      • MIDDLE EAST & AFRICA
  1. COMPANY PROFILES
    • CRYSTAL IS INC (ASAHI KASEI)
    • EPIGAP OPTRONIC GMBH
    • HERAEUS HOLDING GMBH
    • HONLE UV AMERICA INC
    • KONINKLIJKE PHILIPS NV
    • LG INNOTEK CO LTD
    • LUMILEDS HOLDING BV
    • NICHIA CORPORATION
    • NITRIDE SEMICONDUCTORS CO LTD
    • NORDSON CORPORATION
    • OSRAM
    • PHOSEON TECHNOLOGY
    • SEMILEDS CORPORATION
    • SENSOR ELECTRONIC TECHNOLOGY
    • SEOULVIOSYS CO LTD

LIST OF TABLES

TABLE 1: MARKET SNAPSHOT – UV LED

TABLE 2: GLOBAL UV LED MARKET, BY TECHNOLOGY, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 3: GLOBAL UV LED MARKET, BY TECHNOLOGY, FORECAST YEARS, 2019-2028 (IN $ MILLION)

TABLE 4: GLOBAL UV-A MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 5: GLOBAL UV-A MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)

TABLE 6: GLOBAL UV-B MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 7: GLOBAL UV-B MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)

TABLE 8: GLOBAL UV-C MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 9: GLOBAL UV-C MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)

TABLE 10: GLOBAL UV LED MARKET, BY APPLICATION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 11: GLOBAL UV LED MARKET, BY APPLICATION, FORECAST YEARS, 2019-2028 (IN $ MILLION)

TABLE 12: GLOBAL UV CURING MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 13: GLOBAL UV CURING MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)

TABLE 14: GLOBAL MEDICAL LIGHT THERAPY MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 15: GLOBAL MEDICAL LIGHT THERAPY MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)

TABLE 16: GLOBAL STERILIZATION MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 17: GLOBAL STERILIZATION MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)

TABLE 18: GLOBAL OPTICAL SENSORS AND INSTRUMENTATION MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 19: GLOBAL OPTICAL SENSORS AND INSTRUMENTATION MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)

TABLE 20: GLOBAL COUNTERFEIT DETECTION MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 21: GLOBAL COUNTERFEIT DETECTION MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)

TABLE 22: GLOBAL OTHER APPLICATIONS MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 23: GLOBAL OTHER APPLICATIONS MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)

TABLE 24: GLOBAL UV LED MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 25: GLOBAL UV LED MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)

TABLE 26: NORTH AMERICA UV LED MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 27: NORTH AMERICA UV LED MARKET, BY COUNTRY, FORECAST YEARS, 2019-2028 (IN $ MILLION)

TABLE 28: EUROPE UV LED MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 29: EUROPE UV LED MARKET, BY COUNTRY, FORECAST YEARS, 2019-2028 (IN $ MILLION)

TABLE 30: ASIA PACIFIC UV LED MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 31: ASIA PACIFIC UV LED MARKET, BY COUNTRY, FORECAST YEARS, 2019-2028 (IN $ MILLION)

TABLE 32: REST OF WORLD UV LED MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 33: REST OF WORLD UV LED MARKET, BY REGION, FORECAST YEARS, 2019-2028 (IN $ MILLION)

LIST OF FIGURES

FIGURE 1: PORTER’S FIVE FORCE ANALYSIS

FIGURE 2: SUPPLY CHAIN ANALYSIS

FIGURE 3: OPPORTUNITY MATRIX

FIGURE 4: VENDOR LANDSCAPE

FIGURE 5: GLOBAL UV LED MARKET, BY TECHNOLOGY, IN 2019

FIGURE 6: GLOBAL UV LED MARKET, BY UV-A, 2019-2028 (IN $ MILLION)

FIGURE 7: GLOBAL UV LED MARKET, BY UV-B, 2019-2028 (IN $ MILLION)

FIGURE 8: GLOBAL UV LED MARKET, BY UV-C, 2019-2028 (IN $ MILLION)

FIGURE 9: GLOBAL UV LED MARKET, BY APPLICATION, IN 2019

FIGURE 10: GLOBAL UV LED MARKET, BY UV CURING, 2019-2028 (IN $ MILLION)

FIGURE 11: GLOBAL UV LED MARKET, BY MEDICAL LIGHT THERAPY, 2019-2028 (IN $ MILLION)

FIGURE 12: GLOBAL UV LED MARKET, BY STERILIZATION, 2019-2028 (IN $ MILLION)

FIGURE 13: GLOBAL UV LED MARKET, BY OPTICAL SENSORS AND INSTRUMENTATION, 2019-2028 (IN $ MILLION)

FIGURE 14: GLOBAL UV LED MARKET, BY COUNTERFEIT DETECTION, 2019-2028 (IN $ MILLION)

FIGURE 15: GLOBAL UV LED MARKET, BY OTHER APPLICATIONS, 2019-2028 (IN $ MILLION)

FIGURE 16: NORTH AMERICA UV LED MARKET, COUNTRY OUTLOOK, 2019 & 2028 (IN %)

FIGURE 17: THE UNITED STATES UV LED MARKET, 2019-2028 (IN $ MILLION)

FIGURE 18: CANADA UV LED MARKET, 2019-2028 (IN $ MILLION)

FIGURE 19: EUROPE UV LED MARKET, COUNTRY OUTLOOK, 2019 & 2028 (IN %)

FIGURE 20: GERMANY UV LED MARKET, 2019-2028 (IN $ MILLION)

FIGURE 21: FRANCE UV LED MARKET, 2019-2028 (IN $ MILLION)

FIGURE 22: THE UNITED KINGDOM UV LED MARKET, 2019-2028 (IN $ MILLION)

FIGURE 23: ITALY UV LED MARKET, 2019-2028 (IN $ MILLION)

FIGURE 24: RUSSIA UV LED MARKET, 2019-2028 (IN $ MILLION)

FIGURE 25: BELGIUM UV LED MARKET, 2019-2028 (IN $ MILLION)

FIGURE 26: POLAND UV LED MARKET, 2019-2028 (IN $ MILLION)

FIGURE 27: REST OF EUROPE UV LED MARKET, 2019-2028 (IN $ MILLION)

FIGURE 28: ASIA PACIFIC UV LED MARKET, COUNTRY OUTLOOK, 2019 & 2028 (IN %)

FIGURE 29: JAPAN UV LED MARKET, 2019-2028 (IN $ MILLION)

FIGURE 30: CHINA UV LED MARKET, 2019-2028 (IN $ MILLION)

FIGURE 31: INDIA UV LED MARKET, 2019-2028 (IN $ MILLION)

FIGURE 32: AUSTRALIA & NEW ZEALAND UV LED MARKET, 2019-2028 (IN $ MILLION)

FIGURE 33: SOUTH KOREA UV LED MARKET, 2019-2028 (IN $ MILLION)

FIGURE 34: THAILAND UV LED MARKET, 2019-2028 (IN $ MILLION)

FIGURE 35: INDONESIA UV LED MARKET, 2019-2028 (IN $ MILLION)

FIGURE 36: VIETNAM UV LED MARKET, 2019-2028 (IN $ MILLION)

FIGURE 37: REST OF ASIA PACIFIC UV LED MARKET, 2019-2028 (IN $ MILLION)

FIGURE 38: REST OF WORLD UV LED MARKET, REGIONAL OUTLOOK, 2019 & 2028 (IN %)

FIGURE 39: LATIN AMERICA UV LED MARKET, 2019-2028 (IN $ MILLION)

FIGURE 40: MIDDLE EAST & AFRICA UV LED MARKET, 2019-2028 (IN $ MILLION)

  1. MARKET BY TECHNOLOGY
    • UV – A
    • UV – B
    • UV – C
  2. MARKET BY APPLICATION
    • UV CURING
    • MEDICAL LIGHT THERAPY
    • STERILIZATION
    • OPTICAL SENSORS AND INSTRUMENTATION
    • COUNTERFEIT DETECTION
    • OTHER APPLICATIONS
  3. GEOGRAPHICAL ANALYSIS
    •    NORTH AMERICA
      • THE UNITED STATES
      • CANADA
    •    EUROPE
      • GERMANY
      • FRANCE
      • THE UNITED KINGDOM
      • ITALY
      • RUSSIA
      • BELGIUM
      • POLAND
      • REST OF EUROPE
    •    ASIA PACIFIC
      • JAPAN
      • CHINA
      • INDIA
      • AUSTRALIA & NEW ZEALAND
      • SOUTH KOREA
      • THAILAND
      • INDONESIA
      • VIETNAM
      • REST OF ASIA PACIFIC
    •    REST OF WORLD
      • LATIN AMERICA
      • MIDDLE EAST & AFRICA

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