Market Analysis
Market
Research Future (MRFR) estimates the global LED Grow Light Market is expected to grow from USD 621.83 Million in
2022 to USD 15.2 Billion by 2030, at a CAGR of 27.30%, during the forecast
period.
An LED grow
light is a type of electric lighting that is used to stimulate plant growth by
generating light that is suitable for photosynthesis. This device functions as
an artificial light source, which is extensively used by agriculturalists to
replace naturally occurring light. LED grow lights provide several advantages,
including higher energy efficiency, minimal heat emission, and no need for a
ballast. These lights are commonly used in vertical and indoor farming, as well
as commercial greenhouses. However, the necessity for varied light spectrums
for different crops, as well as the high cost of these lights, may limit their
use in the coming years.
Get free
sample report @ https://www.marketresearchfuture.com/sample_request/8502
Key Players
Notable
players in the Global LED Grow Light Market are Alta LED Corporation (US),
General Electric Company (US), Bridgelux, Inc. (US), Cree, Inc. (US), Everlight
Electronics Co. Ltd (Taiwan), Heliospectra AB (Sweden), Illumitex, Inc. (US),
Osram Licht AG (Germany), Royal Philips Electronics N.V. (Netherlands),
Lumigrow, Inc. (US), Gavita Holland B.V. (Netherlands), Iwasaki Electric Co.,
Ltd. (US), Transcend Lighting Inc. (US), Giant (Shenzhen), Illumitex Inc. (US),
Science&Technology Co., Ltd (Relassy) (China), and Samsung Electronics
(South Korean).
Browse
Complete Report @ https://www.marketresearchfuture.com/reports/led-grow-light-market-8502
COVID-19
Impact on the Global LED Grow Light Market
COVID-19 is
an unparalleled public health emergency that has affected practically every
industry, and the long-term repercussions are expected to impact industrial
growth during the forecast period.
Market
Segmentation
The global
LED grow light industry has been segmented based on installation type, product,
spectrum, and application.
By installation
type, the global LED grow light market has been segmented into retrofit and
new. The retrofit installation segment is expected to lead the market during
the forecast period. The retrofit process includes removing an existing grow
light and installing a new one. However, the new installation segment is
projected to register the highest CAGR due to the rapid growth in the indoor
vertical farms.
By product,
the global LED grow light market has been divided into >100 W, <100 W to
>300 W, <300 W to >1000W, and <1000W. The <100 W to >300 W
segment is projected to dominate the market during the review period.
Nevertheless, the <300 W to >1000W segment is anticipated to register the
highest CAGR.
By
spectrum, the global LED grow light market has been divided into partial and
full segments. The spectral outputs from the grow light are used to
simulate outdoor circumstances. The light spectrum necessity depends on the
type of plant being cultivated and the stage of cultivation. Worldwide, the full
spectrum LED segment is seeing the highest adoption; it is expected to register
the highest CAGR during the forecast period.
By
application, the global LED grow light market has been segmented into indoor
farming, greenhouse, vertical farming, turf and landscaping, and others. The
vertical farming segment is anticipated to register the highest CAGR during the
review period owing to the increase in the trend of controlled environment
agriculture in urban regions and the changing outlook of food production. The greenhouse
segment is projected to dominate the market during the forecast period.
Regional
Analysis
The
geographical analysis of the global LED grow light market has been done for
North America, Europe, Asia Pacific, and the rest of the world.
From 2019
to 2025, Europe is predicted to hold the greatest share of the LED grow light
market. Europe is a major supplier of horticultural produce grown within
automated commercial greenhouses. Furthermore, the harsh winter weather has
resulted in the widespread adoption of indoor horticulture in this region.
Because of
the region's high concentration of market players, easy availability of
sophisticated technical experience, and rising cannabis cultivation market,
North America is the second-largest market for LED grow lights. Furthermore,
the US government's rigorous requirements on the usage of efficient and
eco-friendly lighting technologies are pushing the widespread adoption of LED
grow lights in North America.
Summary
The global
LED grow light market is set to reach USD 2.01 billion at a CAGR of 26.45% from
2019 to 2025 (forecast period). A grow light is a sort of electronic lamp that
emits an electromagnetic spectrum that is perfect for photosynthesis, hence
accelerating plant development. For illumination, LED grow lights make use of
LED technology.
Buy Now @ https://www.marketresearchfuture.com/checkout?currency=one_user-USD&report_id=8502
1. EXECUTIVE SUMMARY
1.1. Market Attractiveness
Analysis
1.1.1. Global LED Grow Light
Market, By Installation Type
1.1.2. Global LED Grow Light
Market, By Product
1.1.3. Global LED Grow Light
Market, By Spectrum
1.1.4. Global LED Grow Light Market,
By Application
1.1.5. Global LED Grow Light
Market, By Region
2. MARKET INTRODUCTION
2.1. Definition
2.2. Scope Of The Study
2.3. Market Structure
2.4. Key Buying Criteria
2.5. Macro Factor Indicator
Analysis
3. RESEARCH METHODOLOGY
3.1. Research Process
3.2. Primary Research
3.3. Secondary Research
3.4. Market Size Estimation
3.5. Forecast Model
3.6. List Of Assumptions
4. MARKET DYNAMICS
4.1. Introduction
4.2. Drivers
4.3. Restraints
4.4. Opportunities
4.5. Challenges
Read More @
Database Encryption Market https://www.marketresearchfuture.com/reports/database-encryption-market-1801
High Speed Camera Market https://www.marketresearchfuture.com/reports/high-speed-camera-market-1840
Mobile Accessories Market https://www.marketresearchfuture.com/reports/mobile-accessories-market-1908
Wireless Connectivity Market https://www.marketresearchfuture.com/reports/wireless-connectivity-market-2148
Smart Speakers Market https://www.marketresearchfuture.com/reports/smart-speaker-market-2286
Automated Passenger Counting System Market https://www.marketresearchfuture.com/reports/automated-passenger-counting-system-market-2398
Contact us:
Market Research Future®,
99 Hudson Street,
5Th Floor,
New York, New York 10013,
United States of America
Phone: +1 628 258 0071(US),+44
2035 002 764(UK)
Email: sales@marketresearchfuture.com
No comments:
Post a Comment