UV-C LED Market to Reach $8.1 Billion, Globally, by 2032 at 36.6% CAGR: Allied Market Research

The UV-C LED market is driven by factors such as an increase in adoption of UV-C LED as disinfectant, and surge in adoption for water purification applications.

New Castle, Delaware, Sept. 12, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled,* “**UV-C LED Market** by Application (Water/air Disinfection, Sterilization, Healthcare, Industrial, Sensing, and Others): Global Opportunity Analysis and Industry Forecast, 2023–2032”. *According to the report, UV-C LED market the generated $ 0.38 billion in 2022, and is projected to reach $8.10 billion by 2032, registering a CAGR of 36.6% from 2023 to 2032.  

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UV-C LED technology has demonstrated its effectiveness in reducing viruses and bacteria, including the COVID-19 pathogen (SARS-CoV-2), when exposed to the right UV intensity and duration. UV-C LEDs are compact and adaptable, which makes them appealing to a wide range of industries for disinfection applications. UV-C technology boasts rapid disinfection times, typically taking about 15 minutes for a complete cycle.   

*Prime determinants of growth  * 

The UV-C LED market is expected to witness notable growth during the forecast period, owing to an increase in adoption of the same as an effective disinfectant and surge in adoption for water purification applications. Moreover, thermal management concerns across UV-C LED solutions is the restraint for UV-C LED market growth during the forecast period. On the contrary, the integration of UV-C LED with home appliances and consumer products is expected to provide lucrative opportunities for the growth of the UV-C LED market during the forecast period.   

*Report coverage & details: * 

Report Coverage   Details  
Forecast Period   2023–2032  
Base Year   2022  
Market Size in 2022   $0.38 billion  
Market Size in 2032    $8.1 billion  CAGR   36.6%  
No. of Pages in Report    230  
Segments covered    Application and Region.  
Drivers    Rise in adoption of UV-C LED as a disinfectant   Surge in Adoption for water purification  
Opportunities   Integration with home appliances and consumer products  
Restraints    Concerns regarding thermal management in UV-C LED solutions  

*Covid-19 Scenario * 

· At the outset of the COVID-19 pandemic, the UV-C LED market experienced a downturn due to supply chain challenges and decreased demand.   
· Nevertheless, the industry quickly experienced a rise in demand owing to the surge in adoption of the same for disinfection purposes across industries, majorly the healthcare sector.  

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*The healthcare segment to gain leadership status in the forecast period. * 

Based on application, the water/air disinfection segment held the highest market share in 2022, accounting for nearly one-third of the global UV-C LED market revenue. However, the healthcare segment is expected to register the highest CAGR of 39.29% over the forecast period owing to a rise in adoption across the industry for inactivating various infected microorganisms by different mechanisms and results in effective enhanced treatment. It is also being adopted for use in medical equipment for phototherapy, DNA analysis, drug discovery, and vitamin analysis. These factors are expected to contribute to the growth of the healthcare sector in the global UV-C LED industry.  

*Asia-Pacific to **maintain** its dominance by 2032. * 

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for more than two-fifth of the global UV-C LED market revenue. This region is expected to witness the fastest CAGR of 38.43% from 2023 to 2032 owing to owing to major vendors based in Japan and China making huge investments across applications of UV-C LEDs such as disinfection and sterilization.    

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*Leading Market Players: - * 

· ams Osram AG  
· Nichia Corporation  
· NKFG Corporation  
· Signify Holding  

· Taoyuan Electron (HK) Limited  
· Asahi Kasei Corporation  
· Convergever Inc., Ltd.  
· Dowa Holdings Co., Ltd.  
· Hongqi Technology Co., Ltd.  

· Heraeus Holding  
· High Power Lighting Corp.  
· IBT Group. (Ivy Bridge Technology)  
· International Light Technologies Inc.  
· Irtronix, Inc  

· Nikkiso Co., Ltd.  
· Photon Wave Co., Ltd.  
· Seoul Viosys Co., Ltd.  
· Stanley Electric Co., Ltd.  
· Toyoda Gosei Co., Ltd.  

· Nitride Semiconductors Co., Ltd.  

The report provides a detailed analysis of these key players of the global UV-C LED market. These players have adopted different strategies such as product development and product launch to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.  *Trending Reports in Semiconductor Industry (Book Now with Discount + COVID-19 Scenario):    * 

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