PUBLISHER: Allied Market Research | PRODUCT CODE: 1396893
PUBLISHER: Allied Market Research | PRODUCT CODE: 1396893
The UV-C LED market was valued at $0.38 billion in 2022 and is projected to reach $8.10 million by 2032, registering a CAGR of 36.6% from 2023 to 2032.
UV-C LED offers several advantages over the other traditional UV lamps. They are compact in size and can be easily integrated with different home appliances such as air conditioners, air purifiers or even washing machines. UV-C LEDs are often adopted for portable products. They can fully operate once turned on and do not need preheating while it takes about 10 to 30 minutes for mercury lamps to deliver the required UV dose for disinfection.
The rapid usage of UV-C LEDs for water filtration and their exceptional efficacy in disinfection are the main factors propelling the global UV-C LED market. Thermal management of UV-C LEDs, however, is a significant technological challenge that restricts industry expansion. However, during the projection period, UV-C LED integration with household appliances and consumer goods is anticipated to generate lucrative potential for market expansion. Other significant market growth drivers are improvements in output power and dependability as well as the recent unit cost price reduction for UV-C LEDs.
The UV-C LED market is segmented into application and region. On the basis of application, the market is classified into water/air disinfection, sterilization, healthcare, industrial, sensing, and others. In 2022, the water/air disinfection segment dominated the market, and the healthcare segment is expected to grow with the highest CAGR over the forecast period.
On the basis of region, the UV-C LED Market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
Competitive analysis and profiles of the major global UV-C LED market players that have been provided in the report include ams OSRAM; Crystal IS, Inc., Convergever Inc., Ltd., DOWA Holdings Co., Ltd, Harvatek Corporation, Heraeus Holding GmbH, High Power Lighting Corporation, IBT Group, International Light Technologies, Inc., IRTronix, Inc., Nichia Corporation, Nikkiso Co, Ltd., Nitride Semiconductor Co, Ltd., NKFG Corporation, Photon Wave Co., Ltd., Seoul Viosys Co, Ltd., Signify Holding, Stanley Electric Co, Ltd, Taoyuan Electron (HK) Limited, and Toyoda Gosei Co., Ltd. The key strategies adopted by the major players of the UV-C LED market are product launch, acquisition, and business expansion.
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