LED Grow Lights Market 2020-2028 |Growth in Indoor Farming to Boost Growth

A recent report published by QMI on LED Grow Lights market is a detailed assessment of the most important market dynamics. After carrying out thorough research of LED Grow Lights market historical as well as current growth parameters, business expectations for growth are obtained with utmost precision. The study identifies specific and important factors affecting the market for LED Grow Lights during the forecast period. It can enable manufacturers of LED Grow Lights to change their production and marketing strategies in order to envisage maximum growth.

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Energy efficiency and high net output are expected to drive the growth of the LED grow lights market during the forecast period. This has resulted in some of the key developments by companies operating in the market to consolidate their market positions and look for further niche opportunities.

LED grow lights are generally related to farming and agriculture. They are also known as plant lights. These lights are electrically charged, and help plants in their growth by providing the light that is needed for photosynthesis. LED grow lights give the same light spectrum that the sun provides. The demand for these lights is increasing, as they are a substitute for sunlight. They also help in maintaining the quality of food. It is an alternative approach to farming, which is being adopted by several industries. The growing popularity of indoor farming is also increasing the demand for LED grow lights.

LED grow lights are mostly used for indoor farming, as there is not ample sunlight. Different applications of LED grow lights such as greenhouse farming, indoor farming, vertical farming, etc., are used for plant growth. LED grow lights are also used for many industrial as well as residential purposes.

The global LED grow lights market is growing with the increase in population and urbanization and the increased demand for food. Also, increasing the adoption of alternative farming techniques and the growing popularity of indoor farming is boosting the global LED grow lights market. Additionally, rising concerns regarding high energy consumption and the government initiatives regarding saving electricity by encouraging the use of LED lights are the factors fueling the global LED grow lights market.

Factors having a significant impact on the growth of this market are:
o Energy efficiency and high net output
o Extended life of LEDs
o Formation of the light range is simpler with LEDs
o Large capital requirement may hamper the market growth

Regional segmentation and analysis to understand growth patterns:

This report segments LED grow lights market by region into North America, Asia Pacific, Western Europe, Eastern Europe, the Middle East, and the Rest of the World. North America, Asia Pacific, and Western Europe are estimated to be major regions for LED grow lights market during the forecast period. North America and Western Europe have been one of the key regions with technological advancements in the Food & Agricultural sector. The use of the latest technologies in the agricultural activities and established processed food market is estimated to drive demand for LED grow lights market in these regions. In addition to this, some of the major companies operating in this market are headquartered in these regions.

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Asia Pacific is estimated to be one of the fastest-growing markets for LED grow lights during the forecast period. The food & agriculture sector is one of the major contributors to economies in the region. In addition to this, government initiatives to promote technological advancements in this region are also one of the key factors in the growth of the LED grow lights market. The Middle East and the rest of the World are estimated to be emerging regions for LED grow lights market during the forecast period.

Companies Covered:
Osram, General Electric, Easy Agricultural, Illumitex, Fionia Lighting, Lumigrow, Kind LED Grow Lights, California LightWorks, Spectrum King Grow Lights, Signify, Everlight Electronics, Gavita, Hubbell Lighting, Kessil, Cree, Valoya, Heliospectra AB, Cidly, Ohmax Optoelectronic, Philips, Weshine, Apollo Horticulture, and LEDHYDROPONICS

Market Segmentation:
By Type:
o Low Power (300)

By Application:
o Indoor Farming
o Commercial Greenhouses
o Research

By Region:
o North America
o By Country (US, Canada, Mexico)
o By Type
o By Application
o Western Europe
o By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
o By Type
o By Application
o Eastern Europe
o By Country (Russia, Turkey, Rest of Eastern Europe)
o By Type
o By Application
o Asia Pacific
o By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
o By Type
o By Application
o Middle East
o By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
o By Type
o By Application
o Rest of the World
o By Region (South America, Africa)
o By Type
o By Application

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This release was published on openPR.