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UV LED Market Business Strategies, Acquisitions, Revenue Analysis Share, Forecast to 2028 | Latest Report by IBI

New Jersey, United States – Analysis of UV LED Market 2022 to 2028, Size, Share, and Trends by Type, Component, Application, Opportunities, Growth Rate, and Regional Forecast

The ultraviolet (UV) LED technology can convert electrical energy into ultraviolet light. The production of UV LED products involves implementing numerous technologies, for example, UV-A, UV-B, and UV-C. It operates generally below 100 Fahrenheit temperature. In the past, the application of UV LED was restricted to certain specific applications like curing, counterfeit, forensic, and others. However, with the developments and advancements in technology, it has witnessed adoption into the mainstream applications like disinfection, purification, indoor gardening, sterilization, and clinical phototherapy.

The UV LED market, which was valued at US$ million in 2022, is expected to grow at a CAGR of approximately percent over the forecast period, according to our most recent report.

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The UV LED market is expected to assume control over the conventional UV mercury lamps market because of elements like low power consumption, tight tolerance of wavelengths, long life, and environmentally friendliness. End clients like government organizations, manufacturing units, commercial complexes, residential buildings, and medical care organizations are increasingly emphasizing on maintaining a certain level of safety, hygiene, and monitoring measures. Subsequently, there has been an emotional increase in the demand for disinfected appliances like water purifiers and air purifiers among many others.

There are many advantages that a UV LED framework offers over analog UV and mercury-based lamps. UV LED lamps have high luminous efficiency, because of which it can minimize the consumption of power over 60%. In addition, it is very flexible, efficient, and instantly exhibits higher productivity without a warmup, which helps in eliminating the need for helper devices like exhaust conduits or deodorizing devices. The U.S. has the biggest market share, owing to high investment on R&D of UV LEDs. The country is likewise promoting UV LED lamps for cultivation and agribusiness LED lights. However, the recently imposed levies by the U.S. government is hampering the LED lighting businesses in the U.S. as these actions increase the cost of such products significantly. Different countries are likewise focusing on the development of this technology. For example, Acuva Technologies, a Canadian-based company, has been funded around 2.1 million by the government for developing UV-C LED for water purification frameworks.

Division Segment

The prominent elements that drive the UV LED market development include the rise in the utilization of UV curing frameworks, because of initiatives by government specifically in the U.S. and European countries to execute eco-friendly curing technologies, are encouraging industries to adopt UV curing frameworks; rapid development in the use of environment safe LEDs, owing to leading manufacturers related with LEDs are seeking an eco-friendly strategy, which delivers better and consistent performance than the conventional solvent-borne frameworks; and government initiatives toward energy efficiency products.

The global UV LED market is analyzed on the basis of type, application, industry vertical, and region. Based on type, the market is sorted into UV-A, UV-B, and UV-C. Based on application, the market is divided into UV curing, purification, indoor gardening, counterfeit detection, and others. On the basis of industry vertical, the market is divided into medical services and clinical, agribusiness, industrial, residential, and commercial.

Regional Analysis

Region-wise, the UV LED market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, and rest of Europe), Asia-Pacific (Japan, China, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).

Asia Pacific UV LED market is assessed to develop over the gauge period owing to the Favorable government initiatives to support the regional medical care and pharmaceutical area in this region. The industry’s development is attributed to the pharmaceutical area’s rising utilization of UV LEDs. Many bio-pharmaceutical procedures like phototherapy, DNA analysis, protein synthesis, the discovery of new medications, and vitamin analysis, extensively utilize these LEDs. UV LED use is increasing nowadays and this is helping to boost the UV LED Market development.

Competitive Analysis

The report includes the UV LED market trends and the market portion of key vendors. Key Market Players

Nordson Corporation
Lg Innotek Co. Ltd
Lumileds Holding B.V.
Nichia Corporation
Osram
Koninklijke Philips N.V.
Semileds Corporation
Crystal Is (Asahi Kasei)
Sensor Electronic Technology
Phoseon Technology

Click here to Download the full index of the UV LED market research report 2022

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