[FURL=https://www.industryarc.com/Research/UV-LED-Market-Research-505445?utm_source=Briefingwire&utm_medium=Pressrelease&utm_campaign=PaidPressrelease]UV LED Market[/FURL] is forecast to reach $1.2 billion by 2026, growing at a CAGR of 20.3% from 2021 to 2026. The UV LED Market is estimated to witness a sustainable growth over the forecast period majorly because of the environment friendly features for use in various applications. Rise in Environmental concerns is one of the major driving factors of UV LED Market in global level. Moreover, with the ongoing governmental regulations in global market for deploying energy-efficient lightings such as LED lightings, which tend to create a major impact in the rapid adoption of UV LEDs.Ultraviolet light occurs between the visible and x-ray spectrums. The Ultraviolet wavelength range is specified between 100 nm to 400 nm which categorizes UV LEDs into three different types. However, many photoelectric manufacturers also consider wavelengths as high as 430 nm to be in the UV range.
Key Takeaways
The UV LED Market is estimated to witness a sustainable growth over the forecast period because of the rising environmental concerns for adopting eco-friendly lighting systems at various industries.
The other factor responsible for the growth of UV LED Market are the various environmental friendly features it offers to the sterilization industry and different disinfection processes such as of water, air and different surfaces.
In addition, increasing safety concerns over water-borne diseases have brought an increase in people's awareness of consuming treated water. The growing awareness of the benefits of treated water consumption has impacted the applications UV LED that tend to propel its market growth.
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UV LED Market Segment Analysis - By Geography
Asia-Pacific accounts for being the highest market at 34.6% in 2020. The market growth in this region is predominantly rising due to leading economies such as China, India, Japan and Others. As Asia-Pacific region holds the largest population and is covered by largest ocean, the demand for freshwater has been high at different industrial as well as residential sectors. Thus, the demand for water sterilization and purification processes is of great extent. This demand enhances the market growth of UV LED in this region.
UV LED Market Drivers
Rise in Environmental concerns drives market growth
UV LEDs offers compactness and long durability
UV LED Market top 10 companies are Lumileds Holding BV, Nordson Corporation, Seoul Viosys Co.Ltd., Honle UV America Inc., LG Innotek Co. Ltd, Halma Plc, Heraeus Holding Gmbh, Hnle Group, OSRAM, Koninklijke Philips N.V., Crystal IS, Sensor Electronic Technology, Phoseon Technology.
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