Global UV LED Technology Market 2018-2022| Ban on Mercury-based Products Drives Growth| Technavio
LONDON--(BUSINESS WIRE)--Nov 27, 2018--Technavio ’s global UV LED technology market research report forecasts the market to grow at a CAGR of over 37% during the forecast period.
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Technavio has released a new market research report on the global UV LED technology market for the period 2018-2022 (Graphic: Business Wire)
Innovations in UV LEDs will be one of the major trends in the during 2018-2022. UV LEDs are an ideal replacement for UV lights owing to their use in different applications and the advantages associated with their use. These LEDs consume 70% less energy when compared with CFLs. They also comply with the Restriction of Hazardous Substances Directive as they do not contain mercury. In addition to this, the other features of UV LEDs such as small size, high durability, high resistance to vibration, and low waste and maintenance cost, will drive their demand in the coming years.
According to Technavio’s analysts, one of the key drivers for the global UV LED technology market is the ban on mercury-based products:
Global UV LED technology market: Ban on mercury-based products
The UV light sources consist of UV lamps (mercury based) and UV LEDs. The use of mercury-based lighting solutions has been banned owing to environmental concerns. UV LEDs do not contain mercury and hence, are a preferred source of UV radiation. The systems that are equipped with UV LEDs are energy efficient, offer better sustainability, and operate efficiently.
According to a senior research analyst at Technavio, “UV LEDs are replacing conventional mercury-based UV lamps for UV curing. The UV LED curing systems consist of an array of LEDs that have custom designed optics, which are fixed with gallium to generate intense UV light in 390 nm range to cure inks. These systems have a cooling system to maintain optimum LED module temperature and are powered by low voltage power supplies.”
Global UV LED technology market: Segmentation analysis
This global UV LED technology market analysis report provides market segmentation by application (UV curing, instrumentation and sensing, counterfeit analysis, medical phototherapy, water and air purification, and others), by technology (UV-A, UV-B, and UV-C), and by region (the Americas, APAC, and EMEA). This report provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the three major technology segments, the UV-A segment held the largest UV LED technology market share in 2017, contributing to around 88% of the market. This technology segment will dominate the global market throughout the forecast period.
The APAC region held the largest share of the market in 2017, accounting for close to 43% share. It was followed by EMEA and the Americas respectively. The APAC region is expected to dominate the market throughout the period 2018-2022.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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PUB: 11/27/2018 12:09 PM/DISC: 11/27/2018 12:09 PM