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Plants LED Grow Light Trends and Forecast
The future of the global plants LED grow light market looks promising with opportunities in the commercial greenhouse, indoor grow facility, and research markets. The global plants LED grow light market is expected to reach an estimated $5.0 billion by 2030 with a CAGR of 16.6% from 2024 to 2030. The major drivers for this market are growing demand for energy-efficient lighting systems, increasing use of green technologies & sustainable practices among people, and rising demand for vertical farms and greenhouses.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Plants LED Grow Light by Segment
The study includes a forecast for the global plants LED grow light by type, application, and region.
Plants LED Grow Light Market by Type [Shipment Analysis by Value from 2018 to 2030]:
• High Power (>300W)
• Low Power (>300W)
Plants LED Grow Light Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Commercial Greenhouses
• Indoor Grow Facilities
• Research Applications
Plants LED Grow Light Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Plants LED Grow Light Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies plants LED grow light companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the plants LED grow light companies profiled in this report include-
• Philips
• Osram
• General Electric
• Easy Agricultural
• Illumitex
• Fionia Lighting
• Lumigrow
• Kind Led Grow Lights
• California Lightworks
Plants LED Grow Light Market Insights
Lucintel forecasts that high power will remain the higher growing segment over the forecast period.
Within this market, commercial houses will remain the largest segment over the forecast period becasue it helps in reducing the cost of electricity and increasing the overall plant production rate.
Europe will remain the highest growing region over the forecast period due to heavy investment in the agricultural sector through various initiatives and schemes by countries, such as, Germany, France, and UK.
Features of the Global Plants LED Grow Light Market
Market Size Estimates: Plants LED Grow Light Market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Plants LED grow light market size by type, application, end use industry, and region in terms of value ($B).
Regional Analysis: Plants LED grow light market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, end use industries, and regions for the plants LED grow light market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the plants LED grow light market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q.1 What is the plants LED grow light market size?
Answer: The global plants LED grow light market is expected to reach an estimated $5.0 billion by 2030.
Q.2 What is the growth forecast for plants LED grow light market?
Answer: The global plants LED grow light market is expected to grow with a CAGR of 16.6% from 2024 to 2030.
Q.3 What are the major drivers influencing the growth of the plants LED grow light market?
Answer: The major drivers for this market are growing demand for energy-efficient lighting systems, increasing use of green technologies & sustainable practices among people, and rising demand for vertical farms and greenhouses.
Q4. What are the major segments for plants LED grow light market?
Answer: The future of the plants LED grow light market looks promising with opportunities in the commercial greenhouse, indoor grow facility, and research markets.
Q5. Who are the key plants LED grow light market companies?
Answer: Some of the key plants LED grow light companies are as follows:
• Philips
• Osram
• General Electric
• Easy Agricultural
• Illumitex
• Fionia Lighting
• Lumigrow
• Kind LED Grow Lights
• California LightWorks
Q6. Which plants LED grow light market segment will be the largest in future?
Answer: Lucintel forecasts that high power will remain the higher growing segment over the forecast period due to .
Q7. In plants LED grow light market, which region is expected to be the largest in next 5 years?
Answer: Europe will remain the highest growing region over the forecast period due to heavy investment in the agricultural sector through various initiatives and schemes by countries, such as, Germany, France, and UK.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the plants LED grow light market by type (high power (>300W) and low power (>300W)), application (commercial greenhouses, indoor grow facilities, and research applications), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Plants Led Grow Light Market, Plants Led Grow Light Market Size, Plants Led Grow Light Market Growth, Plants Led Grow Light Market Analysis, Plants Led Grow Light Market Report, Plants Led Grow Light Market Share, Plants Led Grow Light Market Trends, Plants Led Grow Light Market Forecast, Plants Led Grow Light Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.
Table of Contents
1. Executive Summary
2. Global Plants LED Grow Light Market : Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
3. Market Trends and Forecast Analysis from 2018 to 2030
3.1. Macroeconomic Trends (2018-2023) and Forecast (2024-2030)
3.2. Global Plants LED Grow Light Market Trends (2018-2023) and Forecast (2024-2030)
3.3: Global Plants LED Grow Light Market by Type
3.3.1: High Power (>300W)
3.3.2: Low Power (>300W)
3.4: Global Plants LED Grow Light Market by Application
3.4.1: Commercial Greenhouses
3.4.2: Indoor Grow Facilities
3.4.3: Research Applications
4. Market Trends and Forecast Analysis by Region from 2018 to 2030
4.1: Global Plants LED Grow Light Market by Region
4.2: North American Plants LED Grow Light Market
4.2.2: North American Plants LED Grow Light Market by Application: Commercial Greenhouses, Indoor Grow Facilities, and Research Applications
4.3: European Plants LED Grow Light Market
4.3.1: European Plants LED Grow Light Market by Type: High Power (>300W) and Low Power (>300W)
4.3.2: European Plants LED Grow Light Market by Application: Commercial Greenhouses, Indoor Grow Facilities, and Research Applications
4.4: APAC Plants LED Grow Light Market
4.4.1: APAC Plants LED Grow Light Market by Type: High Power (>300W) and Low Power (>300W)
4.4.2: APAC Plants LED Grow Light Market by Application: Commercial Greenhouses, Indoor Grow Facilities, and Research Applications
4.5: ROW Plants LED Grow Light Market
4.5.1: ROW Plants LED Grow Light Market by Type: High Power (>300W) and Low Power (>300W)
4.5.2: ROW Plants LED Grow Light Market by Application: Commercial Greenhouses, Indoor Grow Facilities, and Research Applications
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Porter’s Five Forces Analysis
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Plants LED Grow Light Market by Type
6.1.2: Growth Opportunities for the Global Plants LED Grow Light Market by Application
6.1.3: Growth Opportunities for the Global Plants LED Grow Light Market by Region
6.2: Emerging Trends in the Global Plants LED Grow Light Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of the Global Plants LED Grow Light Market
6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Plants LED Grow Light Market
6.3.4: Certification and Licensing
7. Company Profiles of Leading Players
7.1: Philips
7.2: Osram
7.3: General Electric
7.4: Easy Agricultural
7.5: Illumitex
7.6: Fionia Lighting
7.7: Lumigrow
7.8: Kind LED Grow Lights
7.9: California LightWorks
.
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Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
In-depth interviews of the major players in this market
Detailed secondary research from competitors’ financial statements and published data
Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.
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