Ultraviolet (UV) light-emitting diodes or UV LEDs are semiconductor devices that emit high-energy light in the UV range. UV LEDs find wide applications in curing, disinfection, counterfeit detection, and medical lighting. They offer desirable features like long operational life, low power consumption, and compact size compared to mercury lamps. The adoption of UV LEDs is increasing across industries like healthcare, consumer electronics, and commercial as a replacement for mercury lamps.
The global UV LED Market is estimated to be valued at US$ 957.3 Mn in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing usage of UV LEDs in disinfection applications is one of the major trends driving the market growth. UV LED lights are increasingly being used for disinfecting hospital rooms, laboratory equipment, and water purification systems to kill bacteria and viruses. They offer more effective disinfection compared to mercury lamps and reduce the scope of infection transmission. Likewise, the application of UV LEDs in phototherapy for wound healing has picked up significantly in recent years. They help reduce healing time and risk of infection for chronic and acute wounds. With ongoing R&D, UV LEDs offer higher output, longer lifespan, and cost benefits which will further support their increasing adoption across industries over the forecast period.
Segment Analysis
The global UV LED market is segmented by application into UV curing, analytics and inspection, and medical. The UV curing segment dominates the global market as UV curing technology is widely used in industries like printing, coating and bonding for curing inks, adhesives and coatings. It uses little energy for curing and provides high output.
Key Takeaways
The Global UV LED Market Share is expected to witness high growth. Regional analysis related content comprises The Asia Pacific region is expected to witness the fastest growth over the forecast period owing to large manufacturing hubs for electronics and automotive industries in countries like China, Japan and South Korea. North America is currently dominating the market due to the strong development of LED lighting and medical devices industries in the US.
Key players related content comprises Key players operating in the UV LED market are Mango, Forever 21, River Island, Peacocks, Topshop, Zara, Bershka, Inditex, H&M, Primark, C&A, Stradivarius, Pull&Bear, Oysho, Massimo Dutti, Uterqüe, Lefties, Arket, New Look, Next.
Get more insights on this topic: https://www.insightprobing.com/uv-led-market-trends-size-and-share-analysis/
Check below trending articles Related to this topic: https://www.shayaricenter.com/sparkling-innovation-exploring-the-electrifying-landscape-of-bioelectronics-advancement-and-breakthroughs
The global UV LED market size is expected to reach $1.2 billion by 2026 from 271.1 million in 2018, growing at a CAGR of 17.3% from 2018 to 2026.
UV LED market is expected to leverage high potential for the manufacturing, security, printing, residential and Commercial industry verticals in 2026.
The current business scenario is witnessing an increase in the demand for clean and safe hygienic environment because millions of people in developing regions such as China, India, and others died due to contaminated water, air or surface which proves dangerous for human health.Request For Report Sample: https://www.trendsmarketresearch.com/report/sample/13376 Due to an increase in government mandates related to public safety and security.
Companies in this industry are adopting various innovative techniques such water dispensers, air purifiers and counterfeit detectors which makes use of UV LED techniques in order to kill infected microorganism or detect frauds helps in strengthening their business position in the competitive matrix.Factors such as Surge in government indicatives towards energy efficiency, growth in utilization of UV curing system and rapid increase in the usage of environment safe LEDs are expected to boost the growth of the global UV LED market.
However, factors such as high installation cost as well as the investment required for the production is expected to hamper the market growth.
Furthermore, increase in trend towards the development of advanced UV LEDs for newer applications and evolution of highly efficient UV LEDs are expected to offer lucrative opportunities for market expansion.Request for Report Discount : https://www.trendsmarketresearch.com/report/discount/13376 The global UV LED market is analyzed by type, application, end use, and region.
