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LED Grow Light Market- Corporate Financial Plan, Business Competitors

LED Grow Light Market is expected to grow from USD 621.83 Million in 2018 to USD 2.01 Billion by 2025, at a CAGR of 26.45%, during the forecast period.<br><br>

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LED Grow Light Market- Corporate Financial Plan, Business Competitors

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  1. LED Grow Light Market Research Report By Forecast To 2025 Industry Survey, Growth, Competitive Landscapeand Forecasts to 2025 PREPARED BY Market Research Future (Part of Wantstats Research & Media Pvt. Ltd.)

  2. LED Grow Light Market Forecast To 2025 LED Grow Light Market Overview LED Grow Light Market is expected to grow from USD 621.83 Million in 2018 to USD 2.01 Billion by 2025, at a CAGR of 26.45%, during the forecast period. LED grow light is an electric lighting device that is designed to stimulate plant growth by emitting a light appropriate for photosynthesis. This device works as an artificial light source that is widely being adopted by agriculturalists to substitute the naturally occurring light. Higher energy efficiency, low heat emission, and no requirement of ballast are among the key benefits of LED grow lights. These lights are widely been adopted for vertical and indoor farming as well as in commercial greenhouses. However, the need for varying light spectrum for different crops and high cost of these lights may limit their adoption in the coming years. The global LED grow light market has been segmented based on installation type, product, spectrum, application, and region. By installation type, the market has been segmented into retrofit and new. The retrofit installation segment is expected to dominate the market during the forecast period. Retrofit process involves removing an existing grow light and installing a new one. However, the new installtion segment is expected to register the highest CAGR owing to the rapid growth in the number of indoor vertical farms. By product, the market has been segmented into >100 W, <100 W to >300 W, <300 W to >1000W, and <1000W. The <100 W to >300 W segment is expected to dominate the market during the forecast period. However, the <300 W to >1000W segment is expected to register the highest CAGR. Free Report Sample @ https://www.marketresearchfuture.com/reports/led-grow-light-market-8502 www.marketresearchfuture.com

  3. LED Grow Light Market Forecast To 2025 Segmental Analysis According to Market Research Future, the global LED grow lights market has been segmented on the basis of installation type, product, spectrum, application, and region. LED grow light is an electric lamp that emits electromagnetic waves and uses LED technology for illumination. These are widely used for accelerating plant growth in locations with adverse weather conditions. Growing adoption of indoor farming, government initiatives to promote energy-efficient LEDs, and increasing need for energy-efficient grow light technology are the key factors driving the LED grow light market. However, the high cost of LED grow lights, and lack of standard testing practices for assessing the product quality of grow lights are expected to restrain market growth during the forecast period. Based on installation type, the market has been categorized as retrofit and new segments. The retrofit installation segment is projected to account for the largest share during the review period; however, the new installation segment is expected to register the highest CAGR during the forecast period. The ban on the use of incandescent bulbs by governments across the globe is expected to drive the market for retrofit installation. Based on product, the market has been categorized as >100 W, <100 W to >300 W, <300 W to >1000W, and <1000W. The <100 W to >300 W segment dominated the market in 2018 owing to the wide power consumption and spectral intensity option offered by these products. However, the <300 W to >1000W  segment is expected to register the highest CAGR during the forecast period from 2019 to 2025. Based on spectrum, the market has been categorized as partial and full. The partial spectrum segment is expected to dominate the review period whereas the full spectrum segment is expected to register the highest CAGR during the forecast period. www.marketresearchfuture.com

  4. LED Grow Light Market Forecast To 2025 Segmental Analysis • The Global LED Grow Light Market has been segmented based on installation type, product, spectrum, application, and region. • Based on the installation type, the market has been segmented into retrofit and new. • Based on product, the market has been segmented into >100 W, <100 W to >300 W, <300 W to >1000W, and <1000W. • Based on spectrum, the market has been segmented into partial and full. • Based on application, the market has been segmented into indoor farming, greenhouse, vertical farming, turf and landscaping, and others. • By region, the market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. The global market for LED grow lights is estimated to grow at a significant rate during the forecast period from 2019 to 2025. The geographical analysis of the LED grow light market has been done for North America, Europe, Asia-Pacific, and the rest of the world.  Europe is expected to hold the largest share in the LED grow light market from 2019 to 2025. Europe is a leading exporter of horticultural produce grown within automated commercial greenhouses. Furthermore, the intense cold weather conditions have led to a wide adoption of indoor horticulture in this region. North America is the second-largest market for LED grow lights owing to high concentration of market players, easy availability of proficient technical expertise, and growing market for cannabis cultivation in the region. Moreover, stringent regulations by the US government on the use of efficient and eco-friendly lighting technologies is promoting the widespread adoption of LED grow lights in North America. Regional Analysis www.marketresearchfuture.com

  5. LED Grow Light Market Forecast To 2025 Competitive Analysis The key players have adopted new product development, partnership, and collaboration as a part of their growth strategy to further increase their share in the global LED grow light market. For instance, in 2018, Hydrofarm Holdings Group, Inc. partnered with SANANBIO to launch a horticultural LED product line—PHOTOBIO—specifically designed for high-power greenhouses and indoor farms. In 2019, Hyperponic, a cannabis growing technology company, selected Violet Gro, a LED grow lights manufacturer as the primary light source provider for its fully integrated, patent-pending CropTower. The Prominent Players in the Global LED Grow Light Market are Alta LED Corporation (US), Bridgelux, Inc. (US), Cree, Inc. (US), Everlight Electronics Co. Ltd (Taiwan), General Electric Company (US), Heliospectra AB (Sweden), Illumitex, Inc. (US), Lumigrow, Inc. (US), OsramLicht AG (Germany), Royal Philips Electronics N.V. (Netherlands), Gavita Holland B.V. (Netherlands), Transcend Lighting Inc. (US), Illumitex Inc. (US), Iwasaki Electric Co., Ltd. (US), Giant (Shenzhen) Science&TechnologyCo.,Ltd (Relassy) (China), and Samsung Electronics (South Korean). Browse Report @ https://www.marketresearchfuture.com/reports/led-grow-light-market-8502 www.marketresearchfuture.com

  6. ABOUT US MARKET RESEARCH FUTURE At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions. In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members. For more information kindly visit www.marketresearchfuture.com or contact us at info@marketresearchfuture.com Copyright © 2018 Market Research Future All Rights Reserved. This document contains highly confidential information and is the sole property of Market Research Future. No part of it may be circulated, copied, quoted, or otherwise reproduced without the written approval of Market Research Future. www.marketresearchfuture.com

  7. MARKET RESEARCH FUTURE THANK YOU salesteam@marketresearchfuture.com Ph: +1-646-845-9349 (US) Ph: +44 208 133 9349 (UK) www.marketresearchfuture.com

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