Global UV LED Technology Industry

Global UV LED Technology Industry

  • July 2020 •
  • 173 pages •
  • Report ID: 3180736 •
  • Format: PDF
Global UV LED Technology Market to Reach $3 Billion by 2027

Amid the COVID-19 crisis, the global market for UV LED Technology estimated at US$378.6 Million in the year 2020, is projected to reach a revised size of US$3 Billion by 2027, growing at a CAGR of 34.4% over the analysis period 2020-2027. UV-A LED, one of the segments analyzed in the report, is projected to record a 34.9% CAGR and reach US$2.6 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the UV-B LED segment is readjusted to a revised 32.9% CAGR for the next 7-year period.

The U.S. Market is Estimated at $114 Million, While China is Forecast to Grow at 33.3% CAGR

The UV LED Technology market in the U.S. is estimated at US$114 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$507.2 Million by the year 2027 trailing a CAGR of 33.3% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 31% and 29.5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 24.2% CAGR.

UV-C LED Segment to Record 27.1% CAGR

In the global UV-C LED segment, USA, Canada, Japan, China and Europe will drive the 27.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$14.9 Million in the year 2020 will reach a projected size of US$80 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$360.7 Million by the year 2027.We bring years of research experience to this 18th edition of our report. The 173-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.

Competitors identified in this market include, among others,
  • Asahi Kasei Corporation
  • LG Innotek
  • Nichia Corporation
  • SemiLEDs Corporation
  • Seoul Viosys