With 19.7% CAGR, UV LED Market Growth to Surpass USD 2.8 billion

The global UV LED market is projected to grow from USD 1.2 billion in 2023 to USD 2.8 billion by 2028, registering a CAGR of 19.7% during the forecast period. Some of the significant factors contributing to the growth of the UV LED market include longer product lifetime of UV LED as compared to a conventional UV lamp, growing inclination toward eco-friendly products, stringent regulations regarding the use of green products, raising concerns regarding safe drinking water in emerging nations, increasing demand for ultrapure water, and the advent of UV LED application in the automotive industry.

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Due to the increased focus on germicidal applications, UV-C technology is expected to grow at the highest rate during the forecast period. UV-C LEDs have gained significant attention for their effectiveness in killing or inactivating microorganisms, including bacteria and viruses. UV-C technology offers a chemical-free and efficient method for disinfection, making it a preferred choice over traditional methods. Advancements in UV-C LED technology, such as improved efficiency and cost-effectiveness, are also driving the growth of this segment in the UV LED market.

The disinfection application segment is expected to account for the largest share of the UV LED market during the forecast period. Increased awareness of the importance of maintaining clean and hygienic environments, concerns about waterborne pathogens, and the desire for chemical-free disinfection methods are driving the demand for UV LED-based solutions. UV LEDs' versatility, energy efficiency, and longer lifespan also contribute to the growth of the disinfection application in the UV LED market. Additionally, stringent regulations and standards for water quality and the need for sustainable and environmentally friendly disinfection methods further boost the adoption of UV LED technology for disinfection purposes.

The 1 W-5 W power output segment is expected to account for the second-highest market share during the forecast period. With advances in technology and manufacturing, UV LED with a power rating between 1-5 W has become increasingly available and popular. This category of UV LEDs offers higher power output than those with less than 1 W, while still maintaining some of the benefits of lower-power UV LEDs, such as energy efficiency and safety considerations. UV LEDs with a power rating between 1-5 W also have a broad range of applications. They are often used for larger-scale sterilization and disinfection, such as in water treatment plants or air purification systems. Higher-power UV LEDs are also used for curing applications, such as in the printing industry or for coating and adhesive curing. They can also be used in larger-scale horticultural lighting applications for commercial plant growth and greenhouse operations. One potential drawback of higher-power UV LEDs is the increased risk of exposure to harmful UV radiation. Therefore, proper safety measures and protective equipment must be used when working with these LEDs.

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During the forecast period, the UV LED market in the North American region is accounted for the second-largest market share. Technological advancements and strong regional research and development capabilities contribute to the widespread adoption of UV LED solutions. The region's stringent regulatory environment and focus on sustainability also drive the demand for UV LED technology in various applications such as curing, disinfection, and electronics manufacturing. Additionally, the presence of key market players and a robust industrial sector further support the growth of the UV LED market in North America.

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This release was published on openPR.