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Global UV LED Market Analysis, Drivers, Restraints, Threats & Growth Forecast to 2030

The value of the global UV LED market size in 2022 was $847.2 million and is projected to reach 8.6 billion by the end of 2030. The global market is likely to register a high growth rate of 22.9% during the forecast period.

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➤ The global market will experience growth due to the increasing popularity of digital appliances.

The global U V LED market is expected to experience significant growth due to the global trend of smart home appliances. The high implementation of a diverse array of smart home appliances, including advanced kitchen appliances, air conditioners, refrigerators, and smart water purifiers, is being observed through UV technology. In contrast to UV lamps and bulbs, UV LEDs provide high-cost efficiency, low power consumption, and high-end features. UV LEDs are being extensively integrated into electronic appliances by various manufacturers in order to enhance their effectiveness and innovation. The global market is experiencing additional growth due to the eco-friendly nature of UV LEDs.

➤ The restraining factor in the global market is likely to be tariffs imposed by the government.

The global market’s growth has been substantially impeded by the recent imposition of numerous tariffs by the government, particularly the U.S. government. These measures will result in a substantial increase in the cost of these products. The high manufacturing and installation costs of UV LEDs in comparison to other alternatives are another significant factor that is impeding the growth of the global market. In an effort to enhance the efficiency and light output of LED products, manufacturers are encountering challenges in extending their usability and reliability periods.

➤ The global market is confronted with significant technical challenges in the context of UV LEDs.

The manufacturing of UV LEDs presents a significant challenge for vendors in the market, as technical issues frequently arise. The increasing complexity of end-user demand will also exacerbate the technical issues that are currently being encountered.

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The Global UV LED Market is segmented based on product, application and region

Global UV LED Market: Product Segment Analysis

● UV-A
● UV-B
● UV-C

Global UV LED Market: Application Segment Analysis

● Curing
● Purification
● Indoor Gardening
● Counterfeit Detection

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The global UV LED market profiles key players such as:

● Phoseon Technology
● Sensor Electronic Technology
● Crystal IS
● Semileds Corporation
● Koninklijke Philips N.V.
● Nichia Corporation
● Lumileds Holding B.V.
● Nitride Semiconductors
● Qingdao Jason Electric
● Luminus Devices
● Raycus
● HPLighting

???? Recent Developments

• The new portable UV-C air purifier from OSRAM was introduced in January 2021 to combat the viruses that are causing the Covid-19 pandemic. The ultraviolet radiation, which is invisible, has a 99.9% efficacy in eliminating viruses.

• BIO-SCAN, a UVC-based surface disinfectant system, was introduced by BIO-UV Group in May 2020. This recently developed product will contribute to the ongoing battle against the escalating COVID-19 pandemic in France.

➤ Regional Landscape of the UV LED Market

The global UV LED market is dominated by Asia Pacific, which is a result of the increasing demand in the region. Additionally, the regional market is expected to experience further development in the years ahead due to the improving economic conditions and the increasing living standard. In addition, the region’s market dominance is primarily due to the increasing demand for UV LED technology in a variety of applications, including curing, sterilization, and purification, as well as the presence of significant UV LED manufacturers in countries such as China, Japan, South Korea, and Taiwan.

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