According to a new report by Expert Market Research titled, “Global UV LED Market Share, Size, Report and Forecast 2024-2032″, the global UV LED market size is projected to grow at a CAGR of 21.8% between 2024 and 2032. Aided by the burgeoning demand across diverse applications, the market is expected to grow significantly by 2032.
UV LEDs, known for their efficiency and longevity, are semiconductor devices that emit ultraviolet light. These LEDs have revolutionised various industries with their applications in disinfection, curing, and medical diagnostics, among others.
One of the primary drivers of the UV LED market growth is the growing demand for efficient and eco-friendly disinfection solutions, especially in the wake of health concerns like the COVID-19 pandemic. UV LEDs, offering effective germicidal properties without the use of chemicals, have become integral in sanitising surfaces in healthcare facilities, public spaces, and homes.
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The market also benefits from the expanding application of UV LEDs in curing processes. These LEDs are widely used in the printing, coatings, and adhesives industries due to their ability to provide quick and uniform curing, enhancing productivity and reducing processing times.
Another significant factor contributing to the UV LED market size is their application in medical diagnostics and treatment. UV LEDs are used in phototherapy for treating skin conditions and in various diagnostic equipment, owing to their precise light emission and minimal heat generation. Technological advancements in UV LED technology have also spurred market growth. Innovations in chip design, material science, and optical outputs have led to more efficient, powerful, and cost-effective UV LED solutions, expanding their applications across various industries.
The increasing focus on environmental sustainability is another driving force behind the UV LED market demand. Unlike traditional mercury-based UV lamps, UV LEDs are mercury-free and have a smaller carbon footprint, making them a more sustainable and safer alternative.
Geographically, Asia-Pacific leads the global market, attributed to the rapid industrial growth, technological advancements, and the increasing adoption of UV LED solutions in countries like China, Japan, and South Korea.
The competitive landscape of the UV LED market is marked by the presence of both established and emerging companies. Market players are focusing on research and development, strategic collaborations, and expanding their product portfolios to cater to the growing demand for UV LED solutions.
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Market Segmentation
The market can be divided based on type, application, end use industry, and region.
Market Breakup by Type
• UV-A
• UV-B
• UV-C
Market Breakup by Application
• Curing
• Disinfection/Purification
• Indoor Gardening
• Counterfeit Detection
• Others
Market Breakup by End Use Industry
• Healthcare and Medical
• Agriculture
• Residential
• Industrial
• Commercial
Market Breakup by Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global UV LED market. Some of the major players explored in the report by Expert Market Research are as follows:
• Nordson Corporation
• Lumileds Holding B.V.
• Nichia Corporation
• OSRAM GmbH
• Others
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