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UV-C LED Market Segments 2024-2033 | Size, Share And Insights
UV-C LED Market Segments
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According to The Business Research Company's, The UV-C LED market size has grown exponentially in recent years. It will grow from $0.68 billion in 2023 to $0.93 billion in 2024 at a compound annual growth rate (CAGR) of 37%. The growth in the historic period can be attributed to increased awareness of the importance of disinfection, regulatory mandates promoted disinfection solutions, Increased concerns about healthcare-associated infections, demand for disinfection solutions, decreased costs.
The UV-C LED market size is expected to see exponential growth in the next few years. It will grow to $3.29 billion in 2028 at a compound annual growth rate (CAGR) of 37.2%. The growth in the forecast period can be attributed to growing concerns about infectious diseases, improvements in UV-C LED efficiency and affordability, growing demand for portable disinfection devices, rising demand for energy-efficient, rising demand for environmentally friendly disinfection technologies. Major trends in the forecast period include adoption in healthcare, expansion in consumer electronics, technological advancements, expansion into consumer electronics, emerging applications.
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Market Drivers and Trends:
The increasing air pollution and water contamination are expected to propel the growth of the UV-C LED market going forward. Air pollution and water contamination are environmental issues caused by harmful substances released into the atmosphere and water bodies, adversely affecting human health and ecosystems. Air pollution and water contamination are driven by industrial activities, agricultural runoff, vehicle emissions, and improper waste disposal, leading to significant environmental and health challenges. UV-C LED technology is used to mitigate increasing air pollution and water contamination by providing effective disinfection and sterilization, killing bacteria, viruses, and other harmful microorganisms in air and water. For instance, in March 2024, according to the International Energy Agency (IEA), a France-based autonomous intergovernmental organization, in 2023, global energy-related carbon dioxide (CO2) emissions increased by 1.1%, equivalent to 410 million metric tons (Mt CO2) compared to 321 million metric tons in 2022 reaching a record high of over 37.4 metric tons in 2023, compared to 36.8 billion metric tons in 2022. Furthermore, in September 2023, according to the World Health Organization, a Switzerland-based intergovernmental organization, a minimum of 1.7 billion individuals worldwide will access a drinking water source tainted with fecal contamination. Therefore, increasing air pollution and water contamination will drive the growth of the UV-C LED market.
Major companies operating in the UV-C LED market are focusing on energy efficiency advancements, such as high-radiant-flux, to enhance sterilization efficiency and expand applications across various industries. High-radiant-flux UV-C LEDs are ultraviolet light-emitting diodes with increased output power, enabling more effective and efficient disinfection and sterilization processes. For instance, in January 2023, Nichia Corporation, a Japan-based chemical engineering and manufacturing company, launched a cutting-edge high-radiant-flux UV-C LED, the NCSU434C, specifically designed for industrial water and air applications. This innovative product offers unparalleled performance, effectively inactivating and sterilizing a wide range of bacteria. With a radiant flux of 110 mW at 350 mA and a remarkable wall-plug efficiency of 5.4%, the NCSU434C sets a new standard for reliability and effectiveness in the market, eliminating the need for exaggerated marketing claims.
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Major Key Players of the Market:
LG Electronics Inc., Panasonic Corporation, Heraeus Holding, Asahi Kasei Corporation, Signify Holding B.V., DOWA Holdings Co. Ltd., Toyoda Gosei Co. Ltd., Lite-On Technology Corporation, ams OSRAM AG, Stanley Electric Co. Ltd., Sanan Optoelectronics Co. Ltd, Excelitas Technologies Corp., Nikkiso Co. Ltd., Crystal IS Inc., Luminus Devices, HexaTech, American Ultraviolet, Photon Wave Co. Ltd., International Light Technologies Inc., Seoul Viosys Co. Ltd., Violumas, Nichia Corporation, LedRise, IRTronix Inc, Bolb Inc.
UV-C LED Market 2024 Key Insights:
• The UV-C LED market size is expected to see exponential growth in the next few years. It will grow to $3.29 billion in 2028 at a compound annual growth rate (CAGR) of 37.2%.
• UV-C LED Market Expansion Driven By Escalating Environmental Pollution
• High-Radiant-Flux UV-C LED for Industrial Applications
• Asia-Pacific was the largest region in the UV-C LED market in 2023
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