LED Lighting Horticulture Market Competitive Analysis, Growth Factors & Development Status By 2026

LED lighting horticulture market is directly addressed to the businesses associated with the commercial, indoor and R&D activities associated with plants, which is in contrast of the field farming and animal husbandry. These addressable segments are directly dependent on the presence of sunlight for the crops growth. However, with the increase in global population and lack of adequate sunlight in regions that include North Central Europe and Nordic countries, requirement of additional production of vegetables, fruits, medicines and other agricultural products is expected to drive the demands for these industry products.

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Increased power saving features of LED lights will present lucrative product demands through the forecast period

Industry is largely characterized by the presence of conventional alternatives such as fluorescent and high pressure sodium (HPS) products. These products are featured with high power consumption, these in turn lead to heavy electricity bills and lower profit margins for commercial applications. However, horticulturists are increasingly encouraging the use of LED lighting for applications owing to the related power savings, optimum plant light outputs and considerably longer lifecycles up to 5X the conventional products. These factors are expected to provide major traction to the LED Lighting Horticulture market during the next few years.

U.S. is expected to remain the most lucrative regional business segment owing to the unfavorable climatic conditions for conventional agriculture methodology

U.S has legalized the cultivation of marijuana in locations away from public spaces, along with certain other countries in the Americas. In conjunction with this demands for high nutrition foods, will drive the requirement for vegetable and fruits over the next few years. Owing to unfavorable weather conditions, requirements to meet these demands, construction of commercial greenhouses and LED lighting equipment will drive the market growth through the forecast period.

LED Lighting Horticulture Market: Competitive Landscape

Chief industry participants in the LED lighting horticulture market include Fluence Bioengineering, Cree, Illumitex, Kessil Lighting, Heliospectra, Hubbell Lighting, LumiGrow, Lemnis Oreon, Osram Sylvania and Smart Grow Technologies.

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LED Lighting Horticulture Market Taxonomy

On the basis of application, the global LED lighting horticulture market is classified into:

• R&D
• Personal
• Commercial (greenhouse)

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