Plants LED Grow Light Market Report: Trends, Forecast and Competitive Analysis to 2030

Plants LED Grow Light Trends and Forecast

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 $5.0 billion by 2030 with 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 is developed to help in your business decisions.

Plants LED Grow Light by Segment

The study includes a forecast for the global plants LED grow light by type, application, and region.

Plants LED Grow Light Market by Type [Shipment Analysis by Value from 2018 to 2030]:

• High Power (>300W)
• Low Power (>300W)

Plants LED Grow Light Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Commercial Greenhouses
• Indoor Grow Facilities
• Research Applications

Plants LED Grow Light Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Plants LED Grow Light Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies plants LED grow light companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the plants LED grow light companies profiled in this report include-

• Philips
• Osram
• General Electric
• Easy Agricultural
• Illumitex
• Fionia Lighting
• Lumigrow
• Kind Led Grow Lights
• California Lightworks

Plants LED Grow Light Market Insights

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.

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.

Features of the Global Plants LED Grow Light Market

Market Size Estimates: Plants LED Grow Light Market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Plants LED grow light market size by type, application, end use industry, and region. in terms of value ($B).

Regional Analysis: Plants LED grow light market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different types, applications, end use industries, and region.s for the plants LED grow light market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the plants LED grow light market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q.1. What is the plants LED grow light market size?

Answer: The global plants LED grow light market is expected to reach an estimated $5.0 billion by 2030.

Q.2. What is the growth forecast for plants LED grow light market?

Answer: The global plants LED grow light market is expected to grow with a CAGR of 16.6% from 2024 to 2030.

Q.3. What are the major drivers influencing the growth of the plants LED grow light market?

Answer: 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.

Q.4. What are the major segments for plants LED grow light market?

Answer: The future of the plants LED grow light market looks promising with opportunities in the commercial greenhouse, indoor grow facility, and research markets.

Q.5. Who are the key plants LED grow light market companies?

Answer: Some of the key plants LED grow light companies are as follows:

• Philips
• Osram
• General Electric
• Easy Agricultural
• Illumitex
• Fionia Lighting
• Lumigrow
• Kind LED Grow Lights
• California LightWorks

Q.6. Which plants LED grow light market segment will be the largest in future?

Answer: Lucintel forecasts that high power will remain the higher growing segment over the forecast period due to .

Q.7. In plants LED grow light market, which region is expected to be the largest in next 5 years?

Answer: 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.

Q.8. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the plants LED grow light market 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)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?