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Market Overview:
The UV LED Market, estimated to reach $2.51 billion by 2030 with a CAGR of 20.3% from 2024-2030, is driven by Rise in Environmental concerns is one of the major driving factors of UV LED Market in global level. Moreover, with the ongoing governmental regulations in global market for deploying energy-efficient lightings such as LED lightings, which tend to create a major impact in the rapid adoption of UV LEDs. The UV LED Market is witnessing robust growth driven by diverse industrial applications and technological advancements. With increasing awareness of the environmental and health hazards associated with traditional UV lamps, industries are shifting towards UV LED technology due to its energy efficiency, longer lifespan, and reduced environmental impact.
Regional Insights:
Asia-Pacific dominated the UV LED market with a 34.6% share, driven by high demand for water sterilization and purification in populous economies like China, India, and Japan. The region's vast population and freshwater needs, coupled with significant investments in water and sanitation, fuel market growth. UV LEDs using Silicon Carbide and Gallium Nitride materials are increasingly adopted to meet these demands. North America follows closely, supported by major market players and technological advancements, further propelling UV LED market growth globally.
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UV LED Market: Recent Development
• In August 2024, GEW launched two new LED products—AeroLED2 and LeoLED2. AeroLED2 is launched as a successor to GEW’s air-cooled AeroLED UV curing system and caters to the narrow web market. Its LeoLED2 will succeed the water-cooled LeoLED system and support sheetfed and industrial applications.
• In June 2024, Silanna UV Launches New 235nm Quad High-Power Far-UVC LED at ICFUST 2024 in Scotland. The SF1-3M1FWL1 is a high-power, far-UVC emitting device, with a peak wavelength of 235nm in a compact LED package, enabling a variety of new applications and potential markets.
• In February 2024, Amway launched its new eSpring Water Purifier with powerful, innovative UV-C LED technology, aimed at strengthening consumer health and boosting sustainability.
UV LED Market: Competitive Landscape
Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the UV LED Industry. The top 10 companies in the UV LED market are-
1. Lumileds Holding BV
2. Nordson Corporation
3. Seoul Viosys Co.Ltd.
4. Honle UV America Inc.
5. LG Innotek Co. Ltd
6. Halma Plc
7. Heraeus Holding Gmbh
8. Hnle Group
9. OSRAM
10. Koninklijke Philips N.V.
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IndustryARC’s goal is to provide the right information required by the stakeholder at the right point in time, in a format that assists an intelligent and informed decision-making process.
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