LED Grow Light Market Overview Analysis and Scope Forecast 2021 to 2027 | Royal Philips Electronics, Lumigrow, Osram Licht, Heliospectra, General Electric

The LED Grow Light Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The LED Grow Light report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The LED Grow Light report also maps the qualitative impact of various market factors on LED Grow Light market segments and geographies. The LED Grow Light report covers the post-COVID-19 (Corona Virus) impact on various regions and major countries and on the future development of the industry is pointed out.

The major players dominating the consulting market are Royal Philips Electronics, Lumigrow, Osram Licht, Heliospectra, General Electric, Cree, Everlight Electronics, Alta Led, Bridgelux, Illumitex, and Others. These companies have been profiled in the report providing detailed analysis of their financial information and business strategies.

The global LED Grow Light Market was valued at USD 1.13 Billion in 2019 and is projected to reach USD 6.78 Billion by 2027, growing at a CAGR of 24.90% from 2020 to 2027.

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There are key segments covered in this report: competitor segment, product type segment, end use/application segment.

This report segments the LED Grow Light market on the basis of Types are:

Partial Spectrum
Full Spectrum

On the basis of Application, the LED Grow Light market is segmented into:

Indoor Farming
Commercial Greenhouse
Vertical Farming
Turf & Landscaping
Research
Others

Market Overview:

A grow light or plant light is an artificial light source, usually, an electric light aimed to stimulate plant growth by emitting light suitable for photosynthesis. A variety of bulb types are used as grow lights, like fluorescent lights, incandescent, high-intensity discharge lamps (HID), and light-emitting diodes (LED). LED grow lights are made of light-emitting diodes, with a heat sink and built-in fans. LED grow lights vary in color depending on the intended use which is given by a study of photo morphogenesis. According to the study, green, red, far-red and blue light spectra have an effect on root formation, plant growth, and flowering.

Growing demand for urban farming has led to increased usage of LED grow lights. The grow lights are an artificial light source used to stimulate the growth of plants for indoor cultivation. The tree types of grow lights available in the market include fluorescent grow lights, LED grow lights, and high-pressure sodium grow lights.  LED grow lights are more energy efficient than the other two types. These grow lights are also known as plant lights. Growth of vertical and indoor farming is expected to fuel the LED grow lights market across the globe.

Regional Analysis for LED Grow Light Market

For a comprehensive understanding of market dynamics, the global LED Grow Light market is analyzed across key geographies namely: United States, China, Europe, Japan, South-east Asia, India, and others. Each of these regions is analyzed on basis of market findings across major countries in these regions for a macro-level understanding of the market.

The key points of the report:

The report provides a basic overview of the industry including its definition, applications, and manufacturing technology.
The report explores the international and Chinese major industry players in detail. In this part, the report presents the company profile, product specifications, capacity, production value, and market shares for each company.
Through the statistical analysis, the report depicts the global and Chinese total market of LED Grow Light market including capacity, product solution and service, cost/profit, demand, and recent development.
The total market is further divided by company, by country, and by application/type for the competitive landscape analysis.
The report then estimates 2021-2027 market development trends of LED Grow Light market. Analysis of upstream raw materials, downstream demand and current market dynamics is also carried out.
The report makes some important proposals for a new project of LED Grow Light market before evaluating its feasibility.

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