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LED Market Growing Rapidly with Latest Trend and Future scope with Top Key Players and Forecast 2026

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LED Market Growing Rapidly with Latest Trend and Future scope with Top Key Players and Forecast 2026

September 17
10:08 2022
LED Market Growing Rapidly with Latest Trend and Future scope with Top Key Players and Forecast 2026
Market Research Reports, Business Consulting Services & Analytics
The market for LED is forecast to reach $102.6 billion by 2026, growing at a CAGR of 15.3% from 2021 to 2026.Rise in Environmental concerns is one of the major driving factor of LED market in global level.

The market for LED is forecast to reach $102.6 billion by 2026, growing at a CAGR of 15.3% from 2021 to 2026. The LED Market is estimated to witness a sustainable growth over the forecast period majorly because of the different environment friendly features it offers in different applications. Moreover, with the ongoing governmental regulations in global market for deploying energy-efficient lighting such as LED lighting tend to create a major impact in the rapid adoption of LEDs. Ultraviolet light occurs between the visible and x-ray electromagnetic spectrum. The Ultraviolet wavelength range is specified between 10 nm to 400 nm which categorizes LEDs into three different types. The LED Market report by IndustryARC covers complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

Competitive Landscape:

The top 5 players in the LED industry are –

1. Lumileds Holding BV

2. Nordson Corporation

3. Seoul Viosys Co.Ltd.

4. Honle UV America Inc.

5. LG Innotek Co. Ltd

Interested in knowing more relevant information? Click here:

https://www.industryarc.com/pdfdownload.php?id=17127

Segmental Analysis:

1. Ultraviolet LED is set to be fastest growing segment of the LED Market with a CAGR of 20.9% in 2020. In general, UV-C LEDs have wavelength range of 275 nm (280-100 nm) and they are available in different power levels and styles.

2. LEDs are widely used for different Healthcare and Sterilization applications and are projected to grow at a CAGR of 18.4%. LED Curing uses light-emitting diodes which convert electrical current into light. When the electrical current flows through an LED, it gives off ultraviolet radiation.

3. The scope for a LED is becoming abundant in sterilization applications, as it is being proved to be one of the cheapest way to provide safe drinking water across the globe. This safety benefits are expected to enhance the demand of LEDs in global market further uplifting its market growth.

Report Coverage

Report Attributes

Details

By Type

UV (Ultraviolet A (UV-A), Ultraviolet B (UV-B) and Ultraviolet C (UV-C)), IR LED and Visible Light LED. 

By Material

Indium gallium nitride , Aluminium gallium indium phosphide , Aluminium gallium arsenide, Gallium phosphide 

By Applications

UV Curing, Adhesive Coating, Lacquer Coating, Sterilization, Forensic Application, In-Line Coating, Counterfeit Detection, Sensing, Lighting, Display

 

By End-Use Industries

Healthcare, Research, Industrial, Residential, BFSI, Security, Consumer Electronics, Automotive

By Geography

North America, Europe, Asia-Pacific, South America and Rest of World

Get more detailed information about these segments in the report. Buy it here:

https://www.industryarc.com/reports/request-quote?id=17127

Market Drivers and Challenges:

1. Rise in Environmental concerns drives market growth: With the rising Environmental concerns at global level, the adoption of LEDS for various applications in different industries tend to drive its market growth. LED’s have been increasingly used in applications where UV lamps (mercury, xenon, amalgam, excimer) have operated for decades. 

2. LEDs offers compactness and long durability: LEDs do not contain toxic mercury and are often found in CCFL technology. They are much smaller and more durable than CCFLs and are more resistant to vibration and impact, resulting in less product breakage and reduced waste and maintenance expense as well. These advantages tend to drive its market growth in forecast period. The overall heat generated by the LEDs is considerably low. 

3. High Installation Cost: One of the major challenges faced by LED Market globally is the high installation cost. LEDs are comparatively costlier than other alternatives. This tend to restrain its demand of LEDs thus bring major challenge in its market growth. 

Why IndustryARC?

IndustryARC is one of the leading market research and consulting firms in the world. It produces over 500 unique market reports annually. Get detailed report on preferred market as per your specific requirements and our research experts would customize the report for you.

Email: [email protected]

USA: (+1) 614-588-8538,  (+1) 815-656-4596

 

Similar Reports:

A. LED Materials Market

https://www.industryarc.com/Research/Led-Materials-Market-Research-500112

B. LED Digital Signage Market

https://www.industryarc.com/Report/18691/led-digital-signage-market.html

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