UV LED MARKET TO REACH USD 2.1 BILLION BY 2027 | CAGR 20.7% – FORENCIS RESEARCH

UV LED MarketΒ - Global Industry Analysis and Forecast 2020 to 2027

Global UV LED Market: Key Highlights

  • According to the new market research report UV LED Market by Component (Solution, Services), by Technology (UV-A, UV-B, UV-C), by Application (Medical, Lithography, Electronic Device, Water Treatment, Equipment Sterilization, Security and Others), by End-User (Healthcare, Residential, Agriculture and Commercial), by Region (North America, Asia Pacific, Europe, Middle East and Africa, South America) – Global Forecast (2020 to 2027)”, the global UV LED Market is estimated to reach USD 2.1 Billion by 2027 at a CAGR of around 20.7% during the review period.
  • The UV LED is being operating temperature of the light is below 100 degrees. It used in the electronic devices for the purpose of exposing PCB to air.
  • Ongoing Covid-19 pandemic, the UV LED is witness to play a significant in demand to disinfect the surface of hospital area mostly the place where patients are being admitted. These may lead to increase the market growth in the forecast period.

UV LED Market

Global UV LED Market: Key Market Dynamics

  • With the increasing adoption off LED products, where the initiatives has been taken by the Osram (Opto Semiconductors) of UNIQUE project for the growth of UV LEDs for disinfection and also for the ecofriendly purification of water using LED based UVC.
  • One of the major key concern of the UV LED market is the high installation cost which may hinder the growth of the market. Whereas, the UV LED technology limit for providing the desirable results as well as must expensive than other products may create a negative impact for the growth of the market.
  • The industries and the government are also supporting the growth for adoption of the market across various sectors. These is anticipate to lead the growth of UV LED market in the forecast period.
  • The factors such as high cost of installation and the investment needs for the production is expected to hamper the growth of UV LED market in the forecast period.

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Global UV LED Market: Regional Overview

  • North America:

The region is witness to be one of the leading regions in the adoption of advance technologies. Whereas, the region is one of the major player in terms of revenues and size to the global UV LED market. As well as the North America has increase the focusing for the growth on research and development activities which may also increase the market growth. Hence, US and Canada is projected to play a major role for the growth of the market in the region. These trend will lead to enhance the growth of the UV LED Market in the projected period.

  • Asia-Pacific:

The Asia-Pacific is witness to increase significant market growth during the forecast period. Whereas, the companies in China are also investing heavily in the intelligence manufacturing. In 2019, the Hubei province has  announced that ShenzhenUV-ChemTech LTD and Yihua to invest be more than USD 1 billion for the construct the world largest UV curing material project. Also, the South Korea has increase the demand for organic food as well as the freshwater is expected to boost the growth of the UV LEDs for horticultural applications and water purification.

Hence, Japan and China is also projected major investments in line with the expanding applications of UV LEDs which includes disinfection and sterilization. These may lead to increase the demand of the market growth in the forecast period.

Global UV LED Market: Key Players Overview

  • NICHIA CORPORATION:

Nichia Corporation is a Japanese chemical engineering and a manufacturing company. In 2020, the company is focusing on to extend its dominance in UV market. Moreover, Nichia expects its UV portfolio to play a major role for the completely replacing conventional mercury lamps and their associated environmental issues. Whereas, in 2019, the company has introduced a new Deep UV LED. Also, the company has been significant success more than a year with UVA LEDs, mostly for convention resin curing applications.

  • Crystal IS, Inc.:

The company is an U.S. based manufacturer of proprietary as well as the high-performance deep UV (UVC) LEDs. The company, Klaran line of UVC LEDs is used for disinfection in many of the applications such as consumer, healthcare, and commercial water purification. In 2018, the company releases UV-C LED sterilization research, supplies commercial water faucet which helps to verify that UV-C LED water system has deliver more than 99% reduction of pathogen Legionella pneumophila. Also, the China has based Yuhuan Dafeng has introduce a residential water faucet which will integrates the tested SSL technology.

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Published : 2020-08-17