The global UV LED market is projected to grow from USD 1.2 billion in 2023 to USD 2.8 billion by 2028, registering a CAGR of 19.7% during the forecast period. The UV LED market has experienced significant growth due to several factors. One of the key drivers is the increasing demand for energy-efficient lighting solutions. UV LEDs consume less energy than traditional UV lamps, making them more sustainable and cost-effective. Additionally, UV LEDs have a longer lifespan, reducing the need for frequent replacements and maintenance. Another factor driving the growth of the UV LED market is the expanding range of applications. UV LEDs are used in various industries, including healthcare, electronics, printing, and automotive, for applications such as curing, disinfection, counterfeit detection, and more. Furthermore, advancements in UV LED technology, including improved efficiency, higher output power, and enhanced product quality, have also contributed to the growth of the UV LED market.
Signify (Netherlands), Nordson Corporation (US), Seoul Viosys (South Korea), Hönle Group (Germany), ams-OSRAM AG (Austria), SemiLEDs (Taiwan), Crystal IS (US), Dowa Holdings Co., Ltd. (Japan), Nichia Corporation (Japan), and Nikkiso Co., Ltd. (Japan) are some of the key players in the UV LED market. These players have adopted different growth strategies to retain their market presence. Acquisition and product launch has been the most dominating strategies adopted by the key players from 2019 to 2023 to help them broaden their geographical reach and build their product portfolio.
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Signify market strategy is focused on understanding the customers' requirements and building market awareness and acceptance of their products. The Company has centralized its worldwide sales and strategic marketing functions. The Company has a diversified customer base, which reduces the Company's exposure to individual end markets and distinguishes it from its competitors. The Company sells its products in about 100 countries primarily through direct selling and third-party distributors. The Company has a diversified portfolio in technological developments and collaborates with big companies to deliver its best. The Company has adopted the strategy of acquisition and collaboration to expand its portfolio in the optoelectronics market. Signify is intensely focusing on UV-C technology with respect to its growing demand in sterilization application. Signify has partnered with other companies to supply its UV LED lighting solutions for various disinfection applications. Signify has acquired several companies with expertise in UV LED lighting technology. In 2020, the Company acquired the assets of UV-C lighting company Germicidal Lamps & Applications (GLA), expanding its portfolio of UV-C lighting solutions.
Nordson Corporation is a global leader in providing adhesive dispensing systems, surface treatment solutions, and other industrial products. Nordson Corporation offers various products, including adhesive dispensing systems, surface treatment solutions, polymer processing systems, and test and inspection equipment. This diversity allows the Company to meet customers' needs in various industries, including packaging, automotive, and electronics. It strongly focuses on innovation and has invested heavily in research and development. The Company has a dedicated team of engineers who work on developing new products and improving existing ones. Nordson Corporation has made several strategic choices in the UV LED market to expand its product offerings and grow its business. Nordson Corporation has made several strategic acquisitions to broaden its UV LED product portfolio. In November 2022, it acquired CyberOptics (US), a technology company that designs and manufactures high-precision 3D sensors, metrology systems, and inspection equipment. As a result of the acquisition, Nordson's Advanced Technology Solutions segment will be able to offer differentiated technology that will enhance its product offering in the semiconductor and electronics industries. Nordson Corporation has partnered strategically with other companies to develop UV LED technology for specific applications. In 2018, the Company announced a partnership with Henkel, a leading manufacturer of adhesives and coatings, to create new materials that are optimized for use with Nordson's UV LED curing systems.
Seoul Viosys is a leading manufacturer of UV LED technology and a provider of innovative LED solutions. It has advanced technology in the UV LED industry, making it a leader in developing UV LED solutions. The Company produces high-quality UV LED products that are reliable, efficient, and cost-effective. Seoul Viosys offers a wide range of UV LED products that cater to various industries, including curing, sterilization, water purification, and more. It has a diverse portfolio of UV LED products that cater to multiple industries, including curing, sterilization, water purification, and more. This diversification allows the Company to tap into numerous markets and increase revenue streams. Seoul Viosys has made several strategic choices to establish itself as a leader in the UV LED market. Seoul Viosys has invested heavily in research and development to develop advanced UV LED technology. The Company has developed various innovative products that offer high efficiency, long life, and reliability. The Company has partnered with multiple global companies to create innovative solutions and expand its market reach. This approach has allowed Seoul Viosys to leverage the expertise of other companies and accelerate product development. Seoul Viosys has focused on building brand recognition by participating in trade shows and exhibitions and marketing its products globally. The Company has established a strong reputation for producing high-quality UV LED products.
Hönle Group has made several strategic choices to establish itself as a UV LED lighting market leader. Hönle Group has invested heavily in research and development to develop innovative UV LED products and systems that meet the evolving needs of its customers. Hönle Group has a diverse portfolio of UV LED products that cater to various industries, including industrial curing, sterilization, printing, and more. This diversification allows the Company to tap into multiple markets and increase revenue streams. Hönle Group has established numerous mergers, collaborations, and partnerships with various global companies to develop innovative solutions and expand its market reach. This approach has allowed Hönle Group to leverage the expertise of other companies and accelerate product development. For instance, in December 2020, with the Hönle Group UV expert uv-technik Meyer GmbH and UV component supplier uv-technik Speziallampen GmbH have merged. By merging the two UVC experts into uv-technik Speziallampen GmbH, a strong lamp and component supplier and a real UV competence center are created. In addition to strengthening sales, purchasing, and customer service, the merger also strengthens their market position. The Company is diversifying its UV LED product portfolio with various new launches and development under its Panacol brand.
ams-OSRAM AG is a leading provider of UV LED solutions and systems. ams-OSRAM AG has a diverse portfolio of UV LED products that cater to various industries, including disinfection, horticulture, and industrial curing. This diversification allows the Company to tap into multiple markets and increase revenue streams. ams-OSRAM is committed to delivering high-quality products and solutions that meet the evolving needs of its customers. The Company has a team of experienced engineers and scientists who work on developing new applications and improving existing products. ams-OSRAM AG has made significant investments in research and development to develop innovative UV LED products and systems that meet the evolving needs of its customers. The Company has a team of experienced engineers and scientists who work on developing new applications and improving existing products. ams-OSRAM AG has acquired several companies to expand its product portfolio and strengthen its UV LED lighting market position. For example, in February 2021, ams-Osram acquired around 20 percent of Bolb Inc. (US), a UV-C LED specialist via its venture capital arm Fluxunit. This strategic investment is important in expanding its cutting-edge UV-C LED product portfolio. ams-OSRAM AG has established collaboration with various global companies to develop innovative solutions and expand its market reach. This approach has allowed ams-OSRAM AG to leverage the expertise of other companies and accelerate product development.
UV LED Market by Technology (UV-A, UV-B, UV-C), Power Output (Below 1 W, 1 W-5 W, above 5 W), Application (UV Curing, Medical Scientific, Disinfection, Agriculture), End Use (Residential, Commercial, Industrial) and Region – Global Forecast to 2028
See Also: UV Curing System Companies
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