Technavio, a tech-focused market research firm, has published a new report on the global UV lamp market, which is expected to grow at a CAGR of more than 13% during the forecast period 2017-2021.
Based on geographical segmentation, Technavio market researchers categorize the global UV lamp market into the following key regions: the Americas, APAC, and EMEA.
Source: Technavio
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Top three contributors for the global UV lamps market are elaborated below:
UV lamp market in APAC: The increased market growth in APAC is attributed to the high demand for UV curing equipment and technology in the region. China and India have become emerging markets due to the increase in government initiatives pertaining to energy-efficient lighting sources and supporting regulations for the industrial, medical, and scientific sectors.
According to Sunil Kumar Singh, a lead analyst at Technavio, specializing in research on lighting, “The demand for improved quality outputs and higher performance has led to an increase in the adoption of UV LEDs for adhesive curing in mobile devices. This will accelerate the demand for UV LEDs and the replacement of UV lamps during the forecast period.”
UV lamp market in EMEA: The adoption of UV LEDs is increasing due to stringent environmental regulations regarding the use of hazardous substances in Europe. The growing awareness of UV LED technology in the healthcare, adhesive, and printing curing markets in Europe is another major factor that is fueling the demand for UV lamps in this region. Industry analysts at Technavio estimate the UV lamp market in EMEA to account for a revenue of around USD 512 million by 2021.
UV lamp market in the Americas: The consumption of UV LEDs is significant in North America. UV curing equipment and technology is increasingly used in the graphic arts industry, which is rapidly growing worldwide. The progressive healthcare industry and the demand for communication devices, such as smartphones and tablets, also drive the demand for UV LEDs in the Americas. By 2021, the revenue generated by the sale of UV lamps in the region is likely to account for a revenue of more than USD 319 million.
The leading vendors operating in the global UV lamp market are:
- Philips
- OSRAM
- Heraeus
Other prominent vendors in the market include Atlantic Ultraviolet, Advanced Optoelectronic Technology, Calgon Carbon, DOWA Electronics Materials, Excelitas TechnologiesHonle Group, Integration Technology, IST METZ, Luminus Devices (subsidiary of Lightera), Lextar Electronics (a brand of Micron Technology), Nordson, Nitride Semiconductors, Panasonic, Phoseon, and SEOUL VIOSYS.
A more detailed analysis is available in the Technavio report titled, ‘Global UV Lamp Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Light Emitting Diode (LED) Phosphor Market 2017-2021
- Global Vein Illumination Device Market 2017-2021
- Global Street Lighting Market 2017-2021
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