According to a market report by Lucintel, the future of the global plants LED grow light market looks promising with opportunities in the commercial greenhouse, indoor grow facility, and research markets. The global plants LED grow light market is expected to reach an estimated $5 billion by 2030 from $2 billion in 2024 at a CAGR of 16.6% from 2024 to 2030. The major drivers for this market are growing demand for energy-efficient lighting systems, increasing use of green technologies & sustainable practices among people, and rising demand for vertical farms and greenhouses.
A more than 150-page report to
understand trends, opportunity and
forecast in plants LED grow light market to 2030 by type (high power (>300W) and low
power (>300W)), application (commercial greenhouses, indoor grow facilities,
and research applications), and region (North America, Europe, Asia Pacific,
and the Rest of the World).
Lucintel
forecasts that high power will remain the higher growing segment over the
forecast period.
Within
this market, commercial houses will remain the largest segment over the
forecast period becasue it helps in reducing the cost of electricity and
increasing the overall plant production rate.
Download
sample by clicking on plants LED
grow light market.
Europe
will remain the highest growing region over the forecast period due to heavy
investment in the agricultural sector through various initiatives and schemes
by countries, such as, Germany, France, and UK.
Rivgasasha
are the major suppliers in the plants
LED grow light market.
This unique 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 write us at helpdesk@lucintel.com. To get access of more than 1000 reports at fraction of cost
visit Lucintel's Analytics
Dashboard.
About Lucintel
At Lucintel, we offer solutions for
you growth through game changer ideas and robust market &
unmet needs analysis. We are based in
Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20
years. We are quoted in several publications like the Wall Street Journal,
ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. +1-972-636-5056
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