LED Grow Light Market
Global LED Grow Light Market Size, Share & Trends Analysis Report by Installation Type (New and Retrofit), by Spectrum (Full and Partial), and by Application (Indoor Farming, Vertical Farming, Turf & Landscaping, Commercial Greenhouse and Others) Forecast Period (2022-2028)
The global LED Grow Light market is anticipated to grow at a significant CAGR of around 28.2% during the forecast period. The rising number of plant factories need for sustainable development, and the rise in urban agriculture are major factors that are attributed to driving the market growth. Moreover, many people in urban areas are inclined towards growing indoor plants for fresh and nutritious vegetables and floral arrangements, fragrant herbs. . Apart from these, the benefits associated with LED grow lights such as high efficiency, longer lifespan, cooler temperature, lower HVAC costs, proximity to plants, and others makes them suitable option for growing indoor plantation. In February 2022, Orphek launched OR3 LED Grow Light Bars. Itoffers the most effective spectrum for photosynthesis, excelling in promoting growth, development, and photomorphogenesis control of plants. These lights are specially designed for indoor/Urban/Vertical farming, Green walls, Hydroponic cultivation, Growth chambers, Greenhouses, and Sustainable agriculture.
Impact Of COVID-19 Pandemic On Global LED Grow Light Market
The global global LED Growth market was negatively impaced by the COVID-19 owing to the raw part supply chain disruption.Various instruments that are used for installation and development of the plants and LED grow lights were disordered due to travel restrictions. Several companies in the globe have stopped their manufacturing facilities due to less demand of the product from end-user verticlas. Post COVID-19 pandemic, the market is expected to regain its momentum with increased product demand.
Segmental Outlook
The global LED grow light market is segmented based on the installation type, spectrum, and application. On the basis of installation type, the market is segmented into new and retrofit. Based on the spectrum, the market is segmented into full and partial. Based on the application, the market is sub-divided into indoor farming, vertical farming, turf & landscaping, commercial greenhouse, and others. Among the spectrum segment, a partial sub-divided segment dominated the market owing to as it emits specific spectrum such as blue, yellow, and green lights and these lights are very much useful for the growth of various stages in plants.
Global LED Grow Light Market Share By Application, 2021 (%)
The Indoor Farming Sub-Segment is Dominating in The Global LED Grow Light Market
The Indoor farming sub-divided segment is anticipated to dominate the global LED grow light market owing to its operations being done on a large scale that requires grow light which can completely replace direct sunlight. Moreover, in the field of indoor farming, various technological advancements are been done to grow lights that are affordable for gardening systems are such factors that are attributed to growing the global LED growth light market. The lights used in indoor farming with a special light receptor provide plants a released hormone that keeps chlorophyll that prevents the breaking down of the plant. The use of grow lights it is possible to regulate the red light due to too much red light can cause serious problems. For instance, In May 2021, MAES Lighting has launched ‘Full Spectrum LED Grow Lights for Indoor Plants. Maes Luxgrow LED grow lights are high-quality marijuana grow lights that are professionally engineered with SP2 full-spectrum light that helps in delivering what the plant is in need. This LED Growth light is equipped with a high amount of 460 nm blue photons and this is tailored for the rapid growth of marijuana's full growth stage. These LED Grow Light products brins over more than 1000 µmol /s.m2 PPFD value in the flowering stage at 12 inches and more.
Regional Outlooks
The global LED grow light market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East &Africa, and Latin America. Technological advancement and growing government regulation such as banning incandescent bulbs and supporting the adoption of efficient and eco-friendly technologies such as LED lights in the European region are the factors that are driving and dominating the global LED grow light market.
Global LED Grow Light Market Growth, By Region 2022-2028
The Asia-Pacific Region is Predicated to be the Fastest Growing in The Global Led Grow Light Market
The Asia-Pacific region is expected to be fastest growing due to the rapid rise in urban agriculture including vertical farming, greenhouses, and growth chambers.Moreover, various technological advancements in the Asia-Pacific region and the development of the new project and research centers are factors that are expected to be the region's fastest-growing makret. For instance, in November 2020, the New Town Kolkata Development Authority (NKDA), launched an urban gardening project using LED grow-light technology for commercial cultivation of Rajanigandha and Dalia plants in a two-acre land. This new technology of LED grow-lights is being used to achieve high-quality flowers and the process involved in increasing the duration of daylight through artificial lighting. The project is not only designed for beautification but also for generating jobs for the local self-help groups.
Market Players Outlook
The major companies serving the global LED Grow Light market include Black Dog Grow Technologies Inc., Bridgelux, Inc., Cree LED, Everlight Electronics Co., Ltd., Heliospectra AB, Savant Technologies Llc., Yaham Optoelectronics Co., Ltd., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in April 2021, Pozeen co. launched Commercial Grade LED Grow Lights For Greenhouse and Indoor Cultivation. The GLPH is designed for greenhouse and indoor cannabis cultivation and it comes with optimized spectra greenhouse and indoor cultivation at vegetative stage and flowering stage, scientifically engineered to maximize photosynthesis, growth, and yield. The GLPH has been proven to generate about 2 times more yield than HPS, 55% less energy consumption and 2 weeks grow time reduced with the GLPK.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global LED Grow Light market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
• Impact of COVID-19 on the Global LED Grow Lights Market
• Recovery Scenario of Global LED Grow Lights Market
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. BY Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Black Dog Grow Technologies Inc.
3.1.1. Overview
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.1.4. Recent Developments
3.2. Bridgelux, Inc.
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. Cree LED
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. Everlight Electronics Co., Ltd.
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. Heliospectra AB
3.5.1. Overview
3.5.2. Financial Analysis
3.5.3. SWOT Analysis
3.5.4. Recent Developments
3.6. Key Strategy Analysis
3.7. Impact of Covid-19 on Key Players
4. Market Segmentation
4.1. Global LED Grow Lights Market by Installation Type
4.1.1. New
4.1.2. Retrofit
4.2. Global LED Grow Lights Market by Spectrum
4.2.1. Narrow
4.2.2. Broad
4.3. Global LED Grow Lights Market by Applications
4.3.1. Indoor Farming
4.3.2. Vertical Farming
4.3.3. Turf & Landscaping
4.3.4. Commercial Greenhouse
4.3.5. Others
5. Regional Analysis
5.1. North America
5.1.1. US
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. AIS LED
6.2. Biological Innovation and Optimization Systems, LLC.
6.3. Enlite Energy Inc.
6.4. Grow Elite
6.5. Horti Tech BV
6.6. Infineon Technologies AG
6.7. Kroptek Ltd.
6.8. LumiGrow, Inc
6.9. Nexsel Tech.
6.10. OSRAM Gmbh
6.11. Samsung Electronics Co., Ltd.
6.12. SANlight GmbH
6.13. Savant Systems, Inc
6.14. Senmatic A/S
6.15. Signify Holding
6.16. Trimleaf Canada
6.17. Valoya Ltd
6.18. Vertically Urban Ltd
6.19. Vipple
6.20. Yaham Optoelectronics Co.,Ltd.
1. GLOBAL LED GROW LIGHTS MARKET RESEARCH AND ANALYSIS BY INSTALLATION TYPE, 2021-2028 ($ MILLION)
2. GLOBAL NEW LED GROW LIGHT MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
3. GLOBAL RETROFIT LED GROW LIGHTS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($MILLION)
4. GLOBAL LED GROW LIGHTS MARKET RESEARCH AND ANALYSIS BY SPECTRUM, 2021-2028 ($ MILLION)
5. GLOBAL NARROW LED GROW LIGHTS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
6. GLOBAL BROAD LED GROW LIGHTS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
7. GLOBAL LED GROW LIGHTS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
8. GLOBAL LED GROW LIGHTS FOR INDOOR FARMING MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
9. GLOBAL LED GROW LIGHTS FOR VERTICAL FARMING MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
10. GLOBAL LED GROW LIGHTS FOR TURF & LANDSCAPING MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
11. GLOBAL LED GROW LIGHTS FOR COMMERCIAL GREENHOUSE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
12. GLOBAL LED GROW LIGHTS FOR OTHER APPLICATIONSMARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
13. NORTH AMERICAN LED GROW LIGHTS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
14. NORTH AMERICAN LED GROW LIGHTSMARKET RESEARCH AND ANALYSIS BY INSTALLATION TYPE, 2021-2028 ($ MILLION)
15. NORTH AMERICAN LED GROW LIGHTSMARKET RESEARCH AND ANALYSIS BY SPECTRUM, 2021-2028 ($ MILLION)
16. NORTH AMERICAN LED GROW LIGHTSMARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
17. EUROPEAN LED GROW LIGHTSMARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
18. EUROPEAN LED GROW LIGHTS MARKET RESEARCH AND ANALYSIS BY INSTALLATION TYPE, 2021-2028 ($ MILLION)
19. EUROPEAN LED GROW LIGHTS MARKET RESEARCH AND ANALYSIS BY SPECTRUM, 2021-2028 ($ MILLION)
20. EUROPEAN LED GROW LIGHTSMARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
21. ASIA-PACIFIC LED GROW LIGHTSMARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
22. ASIA-PACIFIC LED GROW LIGHTS MARKET RESEARCH AND ANALYSIS BY INSTALLATION TYPE, 2021-2028 ($ MILLION)
23. ASIA-PACIFIC LED GROW LIGHTSMARKET RESEARCH AND ANALYSIS BY SPECTRUM, 2021-2028 ($ MILLION)
24. ASIA-PACIFIC LED GROW LIGHTS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
25. REST OF THE WORLD LED GROW LIGHTS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
26. REST OF THE WORLD LED GROW LIGHTS MARKET RESEARCH AND ANALYSIS BY INSTALLATION TYPE, 2021-2028 ($ MILLION)
27. REST OF THE WORLD LED GROW LIGHTS MARKET RESEARCH AND ANALYSIS BY SPECTRUM,2021-2028 ($ MILLION)
28. REST OF THE WORLD LED GROW LIGHTS MARKET RESEARCH AND ANALYSIS BY APPLICATION,2021-2028 ($ MILLION)
1. IMPACT OF COVID-19 ON GLOBAL LED GROW LIGHTS MARKET, 2021-2028 ($ MILLION)
2. IMPACT OF COVID-19 ON GLOBAL LED GROW LIGHTSMARKET BY SEGMENT, 2021-2028 ($ MILLION)
3. RECOVERY OF GLOBAL LED GROW LIGHTS MARKET, 2021-2028 (%)
4. GLOBAL LED GROW LIGHTS MARKET SHARE BY INSTALLATION TYPE, 2021 VS 2028 (%)
5. GLOBAL NEW LED GROW LIGHTS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
6. GLOBAL RETROFIT LED GROW LIGHTS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
7. GLOBAL LED GROW LIGHTS MARKET SHARE BY SPECTRUM, 2021 VS 2028 (%)
8. GLOBAL NARROW LED GROW LIGHTSMARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
9. GLOBAL BROAD LED GROW LIGHTSMARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
10. GLOBAL LED GROW LIGHTS MARKET SHARE BY APPLICATION, 2021 VS 2028 (%)
11. GLOBAL LED GROW LIGHTS FOR INDOOR FARMING MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
12. GLOBAL LED GROW LIGHTS VERTICAL FARMING MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
13. GLOBAL LED GROW LIGHTS FOR TURF & LANDSCAPING MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
14. GLOBAL LED GROW LIGHTS COMMERCIAL GREENHOUSE MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
15. GLOBAL LED GROW LIGHTS FOR OTHERS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
16. US LED GROW LIGHTS MARKET SIZE, 2021-2028 ($ MILLION)
17. CANADA LED GROW LIGHTS MARKET SIZE, 2021-2028 ($ MILLION)
18. UK LED GROW LIGHTS MARKET SIZE, 2021-2028 ($ MILLION)
19. FRANCE LED GROW LIGHTS MARKET SIZE, 2021-2028 ($ MILLION)
20. GERMANY LED GROW LIGHTS MARKET SIZE, 2021-2028 ($ MILLION)
21. ITALY LED GROW LIGHTS MARKET SIZE, 2021-2028 ($ MILLION)
22. SPAIN LED GROW LIGHTS MARKET SIZE, 2021-2028 ($ MILLION)
23. REST OF EUROPE LED GROW LIGHTS MARKET SIZE, 2021-2028 ($ MILLION)
24. INDIA LED GROW LIGHTS MARKET SIZE, 2021-2028 ($ MILLION)
25. CHINA LED GROW LIGHTS MARKET SIZE, 2021-2028 ($ MILLION)
26. JAPAN LED GROW LIGHTS MARKET SIZE, 2021-2028 ($ MILLION)
27. SOUTH KOREA LED GROW LIGHTS MARKET SIZE, 2021-2028 ($ MILLION)
28. REST OF ASIA-PACIFIC LED GROW LIGHTS MARKET SIZE, 2021-2028 ($ MILLION)
29. REST OF THE WORLD LED GROW LIGHTS MARKET SIZE, 2021-2028 ($ MILLION)
