The Global LED Grow Light Market is Expected to Grow at a CAGR of 25% by 2026

According to a market report by Lucintel, the future of the LED grow light market looks promising with opportunities in indoor farming, commercial greenhouse, vertical farming, turf & landscaping, and research applications. The global LED grow light market is expected to grow with a CAGR of 25% from 2021 to 2026. The major drivers for this market are growing trend of indoor farming and growing demand for energy efficient and long lasting lighting technology.

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In this market, laser partial spectrum and full spectrum are two spectrum segments. Full spectrum will remain the largest segment due to growing demand for spectrum light with an option to adjust the light intensity.

Europe will remain the largest region over the forecast period due to growing trend for indoor farming in European countries.

Alta LED Corporation, Bridgelux, Cree, Everlight Electronics, General Electric Company, Heliospectra AB, Illumitex, Lumigrow, Osram Licht AG, and Royal Philips Electronics are among the major LED grow light manufacturers.

Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global LED grow light market by product type, spectrum, application, installation type, and region. Lucintel has prepared a comprehensive research report titled “Growth Opportunities in the Global LED Grow Light Market 2021-2026: Trends, Forecast, and Opportunity Analysis”.  This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global LED grow light market by product type, spectrum, application, installation type, and region as follows:

By Product Type [$M shipment analysis for 2015–2026]:

Low Power Products (<300 watt)

High Power Products (>300 watt)

 

By Spectrum [$M shipment analysis for 2015–2026]:

Laser Partial Spectrum

Full Spectrum

 

By Installation Type [$M shipment analysis for 2015–2026]:

New Installation

Retrofit

 

By Application [$M shipment analysis for 2015–2026]:

Indoor Farming

Commercial Greenhouse

Vertical Farming

Turf & Landscaping

Research

Others

 

By Region [$M shipment analysis for 2015–2026]:

North America

United States

Canada

Mexico

 

Europe

Germany

United Kingdom

France

Italy

 

Asia Pacific

China

Japan

India

South Korea

The Rest of the World

This more than 150 page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or visit us at helpdesk@lucintel.com.

 

About Lucintel

Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. We offer market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due Diligence services to executives and key decision makers in a variety of industries. For further information, visit www.lucintel.com.