Report Feature
The future of the LED grow light market looks promising with opportunities in indoor farming, commercial greenhouse, vertical farming, turf & landscaping, and research applications. The global LED grow light market is expected to grow with a CAGR of 24% to 26% from 2021 to 2026. The major drivers for this market are growing trend of indoor farming and growing demand for energy efficient and long lasting lighting technology.
A more than 150 page report is developed to help in your business decisions. Sample figures with some insights are shown below. To learn the scope of, benefits, companies researched and other details of LED grow light market report download the report brochure.
The study includes trends and forecasts for the global LED grow light market by product type, spectrum, application, installation type, and region as follows:
By Product Type [$M shipment analysis for 2015 – 2026]:
- Low Power Products (<300 watt)
- High Power Products (>300 watt)
By Spectrum [$M shipment analysis for 2015 – 2026]:
- Laser Partial Spectrum
- Full Spectrum
By Installation Type [$M shipment analysis for 2015 – 2026]:
- New Installation
- Retrofit
By Application [$M shipment analysis for 2015 – 2026]:
- Indoor Farming
- Commercial Greenhouse
- Vertical Farming
- Turf & Landscaping
- Research
- Others
By Region [$M shipment analysis for 2015 – 2026]:
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- United Kingdom
- France
- Italy
- Asia Pacific
- China
- Japan
- India
- South Korea
- The Rest of the World
Full spectrum will remain the largest segment due to growing demand for spectrum light with an option to adjust the light intensity.
Europe will remain the largest region over the forecast period due to growing trend for indoor farming in European countries.
Some of the LED grow light companies profiled in this report include Alta LED Corporation, Bridgelux, Cree, Everlight Electronics, General Electric Company, Heliospectra AB, Illumitex, Lumigrow, Osram Licht AG, and Royal Philips Electronics.
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Features of LED Grow Light Market |
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This report answers following 11 key questions |
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Q.1 What are some of the most promising potential, high-growth opportunities for the global LED grow light market by product type (low power products (<300watt) and high power products (>300watt)), spectrum (laser partial spectrum and full spectrum), installation type (new installation and retrofit), application (indoor farming, commercial greenhouse, vertical farming, turf & landscaping, research, and others), 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 regions will grow at a faster pace and why? Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the LED grow light market? Q.5 What are the business risks and threats to the LED grow light market? Q.6 What are emerging trends in this LED grow light market and the reasons behind them? Q.7 What are some changing demands of customers in the LED grow light market? Q.8 What are the new developments in the LED grow light market? Which companies are leading these developments? Q.9 Who are the major players in the LED grow light market? What strategic initiatives are being implemented by key players for business growth? Q.10 What are some of the competitive products and processes in the LED grow light market, and how big of a threat do they pose for loss of market share via material or product substitution? Q.11 What M&A activities did take place in the last five years in the LED grow light market? |
Methodology
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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