UV LED Market to Reach $3.8 Billion, Globally, by 2032

According to a new report, the uv led market was valued at $0.8 billion in 2023, and is estimated to reach $3.8 billion by 2032, growing at a CAGR of 19.4% from 2024 to 2032.

The prominent factors that drive the growth of the UV LED market include growth in utilization of UV curing system, rapid increase in the usage of environment safe LEDs, and government indicatives toward energy efficiency products.

However, factors such as high installation cost and the investment required for the production are expected to hamper UV LED market growth. Furthermore, the increase in trend toward the development of advanced UV LEDs for newer applications and evolution of highly efficient UV LEDs are expected to offer lucrative opportunities for the market expansion.  

By type the UV-A segment dominant the market in terms of revenue in 2023 and is expected to follow the same trend during the forecast period due to their broad range of applications, including UV curing in industrial processes, forensic analysis, counterfeit detection, and radiation therapy. These applications drive the demand for UV-A LEDs, making them the dominant segment in the market.

By application, the Disinfection/Purification segment held the highest market share in 2023, accounting for nearly half of the UV LED market share to the increasing demand for clean water and the rise in adoption of UV LEDs for disinfection purposes across various industries, particularly in water treatment and purification systems. The COVID-19 pandemic has further boosted this segment as there has been a heightened focus on hygiene and sanitation, driving the use of UV LEDs for disinfection to prevent the spread of viruses and bacteria.

By industry vertical, the healthcare and medical segment held the highest market share in 2023, accounting for nearly half of the UV LED market share this dominance is driven by the extensive use of UV LEDs in medical applications, such as sterilization, disinfection, and medical equipment sanitization, particularly due to heightened hygiene concerns following the COVID-19 pandemic. The demand for UV systems in healthcare is significant as they are used in dialysis machines, catheters, hearing aids, and other critical medical devices.