Global UV LED Market – Industry Trends and Forecast to 2031

Global UV LED Market, By Application (Industrial, Medical and Scientific, Sterilization, Security),  Power Output (Less than 1 W, 1 W–5 W, More than 5 W) - Industry Trends and Forecast to 2031.

UV LED Market Analysis and Size

The increasing popularity of smart home appliances in several developing nations has created opportunities for UV LED market participants. UV technology is increasingly integrated into various smart home technology products, including smart water cleaners, refrigerators, air conditioners, and advanced kitchen appliances, thereby driving UV LED market share expansion.

Global UV LED market was valued at USD 700 million in 2023 and is expected to reach USD 9,924.46 million by 2031, registering a CAGR of 39.30% during the forecast period of 2024-2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Report Scope and Market Segmentation

Market Definition

UV light emitting diodes (LEDs) are solid-state devices that emit light when an electrical current is permitted to flow from the positive side of the circuit to the opposing side. UV LED refers to the utilization of ultraviolet radiation with a wavelength ranging from 240 to 400 nm to facilitate high levels of productivity, increased safety levels, and decreased operational costs in various applications.

UV LED Market Dynamics

Drivers

• Eco-Friendliness Composition and the Growing Adoption of UV Curing Market

In recent years, the advancement of radiation curing coatings has been primarily motivated by growing environmental concerns and ongoing legislative efforts to reduce volatile organic compound (VOC) emissionsFurthermore, there is enhanced safety for the operator, as there is no UV-C radiation emission. The UV LED does not comprise any hazardous metals that would be challenging to dispose of. UV LEDs produce significantly less heat than conventional light sources. Hence, the eco friendliness composition of UV LED is propelling the market

• Increasing Usage of Light-Emitting Diode (LED) Technology in Floriculture Sector

The UV light-emitting diode (LED) lighting is gaining high popularity in the floriculture sector owing to NASA, which continues to conduct experiments for the growth of the plant under light-emitting diode (LED) lighting. These light show huge potential as floriculture lighting fixtures because of less energy consumption, cool operation and the capability to customize spectral output to produce the specific wavelengths. The growing usage of UV light-emitting diode (LED) technology in the floriculture sector is expected to drive the market's growth rate.

Opportunities

• Surging Government Regulation to Promote Investments In Energy-Efficient

The government’s support light-emitting diode (LED) lighting market through different regulations that promote investments in the energy-efficient lighting technologies. As a result, it has expanded the applications of light-emitting diode (LED lights across different commercial, industrial, and residential sectors. For instance, The US Government has proposed to increase the efficiency of light bulbs in US In December 2022. The main intention of this proposal is to save energy consumed on lighting and enable consumers to save their money on the electricity bills. Therefore, surging government regulation to promote energy-efficient investments will create lucrative market growth opportunities.

Restraints/Challenges

• Supply Chain Issues

Supply chain issues, including reliance on raw materials and manufacturing processes, coupled with disruptions, can significantly affect the UV LED market. These challenges often lead to fluctuating availability and pricing of UV LED components, creating uncertainties in the market. Dependence on external factors increases vulnerability, impacting production and distribution efficiency.

This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an analyst brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

UV LED Market Scope

The market is segmented on the basis of  power output and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Power Output

• Less than 1 W
• 1 W–5 W
• More than 5 W

Application

• Industrial
• Medical and Scientific
• Sterilization
• Security

UV LED Market Region Analysis/Insights

The market is segmented on the basis of  power output and application.

The countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

The Asia Pacific dominates the market and is expected to  grow with the largest market share during the forecast period 2024-2031. The escalating use of UV LED technology in the UV curing process is influencing the regional market's growth. UV curing is favored over traditional drying because the results are superior, rejection rates are low, and the process improves the product's solubility and scratch resistance.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data..

Competitive Landscape and UV LED Market Share Analysis

The market is analyzed, and market size information is provided by country, power output and application. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the market

Some of the major players operating in the market are:

• Signify Holding (Netherlands)
• Digital Lumens, Incorporated (U.S.)
• OSRAM Gmbh (Germany)
• General Electric (U.S.)
• Toshiba Corporation  (Japan)
• Eaton (Ireland)
• Koninklijke Philips N.V. (Netherlands)
• Cree LED (U.S.)
• EVERLIGHT ELECTRONICS CO. LTD. (Taiwan)
• Lumigrow (U.S.)
• Samsung (South Korea)
• Savant Systems Inc. (U.S.)
• Syska (U.S.)
• Sharp Corporation (U.S.)
• Dialight (U.K.)
• Zumtobel Group (Austria)