North America & Asia Pacific UV-C LED Market Size and Growth Latest Research Report including Share, Trends, Competitive Analysis, and Forecast 2022 2030
Astute Analytica recently published a new research report on global North America & Asia Pacific UV-C LED Market. The global market report includes extensive research on global North America & Asia Pacific UV-C LED Market, allowing the buyer to consider potential requirements and projections. After a thorough examination of the prowess of the global market, the restraints and drivers are put together.
The North America & Asia Pacific UV-C LED market held a market value of USD 202.4 Million in 2021 and is projected to reach USD 14,077.0 Million by the year 2030. The market is anticipated to grow at a CAGR of 60.2% from 2022 to 2030. Approximately, 54.46 million units of UV-C LED was sold in 2021.
The study incorporates both qualitative and quantitative data and draws on both primary and secondary statistical sources. Significant companies, important market categories, and a range of products are included in the global market report. In addition, the report covers the measurement years and the study points.
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Despite the driving factors, high investment and installation cost of UVC LEDs are anticipated to hinder the market growth. During the COVID-19 pandemic, the market was positively impacted due to increasing demand for UV-C LED devices for disinfection and sterilization.
Better performance compared to other sources
UV-C LEDs are being preferred more owing to their better performance as compared to other sources. This is owing to its various benefits. UV-C LED is environment friendly and has flexible design. It is also very durable as compared to the mercury lamps. They instantly provide full optical output when turned on and stop immediately when switched off. They are used for disinfection and purification without the chemical usage. Therefore, better performance compared to other sources are expected to boost the market growth.
The North America & Asia Pacific UV-C LED market is segmented into application, channel mode, UVC light source, and end user.
- Germicidal Purification
- Air Treatment
- Water Treatment
- Surface Sterilization
- Hospital Sanitization
- Biological Agent Detection
- Optical Data Storage
- Polymer Curing
The air treatment segment’s volume is expected to be approximately 61% of the water treatment segment’s volume in 2021 and this is estimated to reach about 64% by 2030. This is owing to high demand of UVC LED for air treatment purposes. The water treatment segment is expected to hold the largest market share of around 31% owing to the rising demand of UVC LED for water treatment purposes. The hospital sanitization segment is anticipated to witness the fastest growth rate of 62.2% over the projected period owing to the increasing adoption of UVC LED for hospital sanitization.
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By Channel Mode
- NLOS Model (Non Line of Sight)
- LOS Model (Line of Sight)
The NLOS model segment is expected to account for the largest market share owing to the rapid progress of technology. LOS model is also estimated to grow at significant rate during the projected period.
By UVC Light Source
- DUV LED
- DUV Laser
- DUV Gas Discharge Lamp
The DUV LED segment is estimated to hold the major share of the market and it also contributes to more than the combined market sized of the DUV laser and DUV gas discharge lamp segments. The DUV gas discharge lamp’s volume is expected to grow at a CAGR of 56.1% owing to the increasing technological advancements.
By End User
The research segment is expected to consume over 280.15 million units of UVC LEDs by 2030 owing to the rising number of research activities for expansion of application areas of UVC LEDs.
By region, the market is divided into Asia Pacific and North America. North America is anticipated to account for the largest market share owing to the rising number of major UVC LED suppliers in the U.S. and Canada.
The Asia Pacific region is expected to witness a growth rate of 67.9% owing to the increase in the demand for UVC LEDs for scientific research in the emerging economies such as India, China, and South Korea, among others.
Major players in the North America & Asia Pacific UV-C LED market include Crystal IS, MEAN WELL, Honle UV America Inc, Koninklijke Philips N.V., Heraeus Holding, LG Electronics, Hönle Group, Seoul Viosys, Halma Plc., Nichia Corporation, Sensor Electronics Technology Inc., HexaTech, Inc, and Other Prominent Players. The cumulative market share of the eight major players is near about 72%.
These market players are involved in collaborations, mergers & acquisitions, and new product launches, among other initiatives, to strengthen their market presence. For instance, in July 2021, HexaTech launched the production release of its expanded 2-inch diameter, deep-UV transparent and single crystal aluminium nitride substrate product line. These products have absorption coefficient below 12cm-1 at 265nm, which helps in eliminating the substrate transparency concerns for UVC LEDs.
The North America & Asia Pacific UV-C LED market report provides insights on the below pointers:
- Market Penetration: Provides comprehensive information on the market offered by the prominent players
- Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
- Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
- Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the North America & Asia Pacific UV-C LED market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
- Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
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