Press release
LED Grow Light Market Size 2023: Global Share, Industry And Report Analysis By 2030 |AIS LED Biological Innovation and Optimization Systems, LLC. Enlite Energy Inc.
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.Get Free Sample link @ https://www.omrglobal.com/request-sample/led-grow-light-market
One of the most prominent factor propelling the global LED lighting market is the undeniable shift towards energy-saving lighting solutions. A growing focus on environmental sustainability and resource conservation has spurred a significant demand for lighting technologies that offer superior energy efficiency. Compared to traditional incandescent bulbs, LEDs boast a remarkable ability to deliver the same level of illumination while consuming a fraction of the energy. According to US Department of Energy, LED lighting technology is incredibly energy-efficient and has the power to drastically alter lighting in the US going forward. It is projected that most lighting installations will be LED-powered by 2035, and the yearly energy savings from LED lighting might surpass 569 TWh, which is the equivalent of more than 92 1,000 MW power plants.This translates to substantial cost savings on electricity bills for consumers and businesses alike. Furthermore, government's regulations to phase out outdated, less efficient lighting options, further accelerate the shift towards LED lighting.
full report of LED Grow Light Market available @ https://www.omrglobal.com/industry-reports/led-grow-light-market
• Market Coverage
• Market number available for - 2024-2031
• Base year- 2024
• Forecast period- 2024-2031
• Segment Covered- By Source, By Product Type, By Applications
• Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
• Inc., and others
Global LED Grow Light Market Report Segment
By Installation Type
• New
• Retrofit
By Spectrum
• Full
• Partial
By Application
• Indoor Farming
• Vertical Farming
• Turf & Landscaping
• Commercial Greenhouse
• Others
Global LED Grow Light Market Report by Region
North America
• US
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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.
For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/led-grow-light-market
About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offer Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.
Media Contact:
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: info@omrglobal.com
Contact no: +91 780-304-0404
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