UV LED Market Overview:
A research team conducted extensive primary and secondary research for the UV LED market study of the market. In order to augment already-existing data, segment the market, calculate the overall market size, and project market size and growth rate, secondary research was conducted.
Both primary and secondary research are used to determine the market’s leaders and to estimate market revenue. The main study includes in-depth interviews with influential thought leaders and subject matter experts, including CEOs, marketing executives, and seasoned front-line workers. In-depth interviews with significant thought leaders and industry professionals, including CEOs, marketing executives, and seasoned front-line staff, were undertaken as part of primary research, and secondary research included a review of the annual and financial reports of the major manufacturers. In order to produce market percentage splits, market shares, growth rates, and breakdowns, secondary data must first be compared to primary data.
UV LED Market size was valued at US$ 451.26 Mn. in 2021 and the total UV LED revenue is expected to grow at 22.1 % through 2022 to 2029, reaching nearly US$ 2229.22 Mn.
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Market Scope:
By identifying and assessing market categories as well as estimating market size, the study contributes to an understanding of the dynamic structure of the UV LED market. A competitive examination of key firms’ pricing, financial standing, application expansion objectives, and regional presence is also included in the report. The research also includes a PESTLE analysis to help investors prioritise their work and spending in the UV LED market.
The investigation of external and internal factors that are expected to have a positive or negative impact on businesses has given decision-makers a clear picture of the sector’s future. By analysing market categories and projecting market size, the study also contributes to an understanding of the dynamic structure of the global UV LED market. By giving a thorough account of the competitive analysis of important companies in the global UV LED market based on price, financial condition, growth strategies, and geographical presence, the study acts as a resource for investors.
Drivers:
According to the WHO, due to poor sanitation, hand hygiene, and contaminated drinking water, approximately 829 thousand people are thought to die from diarrhoea every year. In order to shield families and households from the common pathogenic causes of waterborne diseases, UVC LEDs may be used in water purification systems. Denser and larger urban populations place a great deal of strain on infrastructure and business. By 2030, the world is expected to require 40% more water. To protect against microbiological pollutants like bacteria (E. coli, pseudomonas, legionella), viruses (rotavirus, adenovirus, hepatitis), and parasites in these systems, UVC LEDs are used (giardia beaver fever, cryptosporidium).
Segmentation:
By technology, the UV-A segment held a commanding 56.3% market share for UV LEDs in 2021. Over the course of the forecast period, the market is anticipated to expand at a CAGR of 18.3%, driven by a number of high-end features provided by UV-A LEDs, including low power consumption, efficient elimination, and short-wavelength energy. In order to provide high-end products and maintain their competitiveness in the market during the forecast period, manufacturers are heavily concentrating on implementing UV LED technology.
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Key Players: The key players are
• Crystal IS
• SemiLEDs Corporation
• Koninklijke Philips N.V.
• LG INNOTEK
• Sensor Electronic Technology, Inc.
• NICHIA CORPORATION
• Seoulviosys Co., Ltd.
• Phoseon Technology
• Heraeus Holding.
• Seoulviosys Co., Ltd.
• Halma plc
• Nordson Corporation,
• Lumileds Holding B.V
• UV energy Solutions Pvt. Ltd.
• Baldwin Technology Company, Inc
Regional Analysis:
An analysis of the UV LED Market at the country level concentrates on regions, markets, and nations with the largest market shares and the greatest potential for expansion. North America (USA, Canada), South America, Asia Pacific (China, Japan, India, Korea), Europe (Germany, UK, France, Italy), and Other nations are the regions that are broken out in the UV LED Market research.
COVID-19 Impact Analysis on UV LED Market:
The banking, financial services, insurance, aerospace and defence, automotive, retail and e-commerce, energy and power, healthcare, packaging, mining, and electronics are just a few of the industries that have been impacted by the COVID-19 epidemic. The total UV LED market and the growth rate in 2019–2020 have both been impacted by COVID-19 as its influence has expanded. The organisations and businesses in the UV LED industry rely on our most latest research, assessments, and market statistics.
Key Questions Answered in the UV LED Market Report are:
- What will the market’s CAGR be over the forecast time period?
- In the UV LED market, which market segment has become the market leader?
- Which companies dominate the UV LED market?
- What will the size of the UV LED market be in 2029?
- Which company held the largest proportion of the UV LED market?
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