Asia Pacific UV LED Market size surpassed USD 200 million in 2020 and is projected to exhibit a CAGR of 18.5% between 2021 and 2027.
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The Asia Pacific market growth is attributed to its rising adoption in horticulture and indoor vertical farming technologies. Ultraviolet (UV) light in the horticulture sector offers several advantages such as waste heat separation, prevention of overheating, reductions in energy consumption, and venting provisions during warm climate conditions.
Moreover, several regional players are focusing on developing horticulture-specific advanced lighting solutions. For instance, in June 2021, Hongli launched its new horticulture lighting LED series, which consists of the PCT 3030 SMD series LED and the C3535 UV LED. It is designed to offer a full spectrum band that can be customized for several wavelength ratios.
Asia Pacific Market, By Type
The UV-C LED segment in the Asia Pacific UV LED market will witness 21% growth rate during the forecast period. Growth is propelled by the numerous advantages offered such as high durability, low heat consumption, eco-friendly, and faster switching compared to conventional UV lamps. It is majorly used in a variety of smart home technology products such as refrigerators, smart purifiers, and air conditioning units, among others.
Several companies are focusing heavily on innovating new technologies to meet the high market demand. For instance, in September 2021, NICHIA released a UV-C LED that uses the newly developed high radiant flux density technology. It is intended to eliminate and sterilize various pathogens found in the environment or on surfaces.
Asia Pacific Market, By Country
Japan UV LED market is anticipated to expand at a CAGR of 18.5% till 2027, owing to rising technological advancements in optical sensing technologies powered by UV-LEDs.
Companies including Samsung, Hamamatsu, and others are developing UV optical sensing devices with low noise, high resolution, and precision sensitivity. For instance, in February 2021, Photonfocus developed UV LED-based cameras with optical sensing and global shutter technology for use in machine vision applications. The combination of UV technology and global shutter technology will allow users to incorporate this camera in security applications such as pantograph inspections.
Competitive Industry Landscape
Key players dominating the Asia Pacific UV LED market are Nichia Corporation, Nitride Semiconductors. Co., Ltd., NIKKISO CO., LTD., Lumex Inc., and Seoul Viosys Co.
Companies are boosting their investments through new acquisition & merger strategies to gain a competitive edge. For instance, in January 2021, Seoul Viosys and Sensor Electronic Technology Inc. joined forces to develop the Violeds technology, which can eliminate 99.4 % of the COVID-19 virus. KR Biotech has conducted the test by using UV LEDs and modules based on the Violeds technology.