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.
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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.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Market Segmentation
Global LED Grow Lights Market by Installation Type
- New
- Retrofit
Global LED Grow Lights Market by Spectrum
- Narrow
- Broad
Global LED Grow Lights Market by Applications
- Indoor Farming
- Vertical Farming
- Turf & Lamdscaping
- Commercial Greenhouse
- Others
Regional Analysis
- 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
Company Profiles
- AIS LED
- Biological Innovation and Optimization Systems, LLC.
- Enlite Energy Inc.
- Grow Elite
- Horti Tech BV
- Infineon Technologies AG
- Kroptek Ltd.
- LumiGrow, Inc
- Nexsel Tech.
- OSRAM Gmbh
- Samsung Electronics Co., Ltd.
- SANlight GmbH
- Savant Systems, Inc
- Senmatic A/S
- Signify Holding
- Trimleaf Canada
- Valoya Ltd
- Vertically Urban Ltd
- Vipple
- Yaham Optoelectronics Co.,Ltd.
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.
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