UV LED Market worth $2.8 billion by 2028 - Exclusive Report by MarketsandMarkets™

Key Facts

• Some of the significant factors contributing to the growth of the UV LED market include longer product lifetime of UV LED as compared to a conventional UV lamp, growing inclination toward eco-friendly products, stringent regulations regarding use of green products, raising concerns regarding safe drinking water in emerging nations, increasing demand for ultrapure water, and the advent of UV LED application in the automotive industry.
• Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=143107738 Browse in-depth TOC on "UV LED Market" 120 – Tables 60 – Figures 250 – Pages UV LED Market Report Scope: Report Coverage Details Market Revenue in 2023 $1.2 billion Estimated Value by 2028 $2.8 billion Growth Rate Poised to grow at a CAGR of 19.7% Market Size Available for 2019–2028 Forecast Period 2023–2028 Forecast Units Value (USD Million/Billion) Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends Segments Covered By Technology, Power Output, Application, End Use and Region Geographies Covered North America, Europe, Asia Pacific, and Rest of World Key Market Challenge Limited application of UV LED technology compared to traditional UV lamps Key Market Opportunities Advent of UV LED application in the automotive industry Key Market Drivers Longer product lifetime of UV LED as compared to conventional UV lamp By power output, the less than 1 W segment registered for the highest growth rate during the forecast period.
• During the forecast period, the demand for UV LED technology, primarily used in water and wastewater treatment, is expected to witness the highest demand.
• The presence of several local manufacturers of UV LED and the requirement for safe drinking water are the primary reasons for the growth of the market in China.

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