DUBAI, UAE. 13th September
2019: LED Agricultural Grow Lights Market
is anticipated to witness an exponential growth in the forecast period. LED
agricultural grow lights are an artificial source of light, mostly an electric
light that is intended to stimulate plant development by devising an
electromagnetic spectrum appropriate for photosynthesis.
Factors such as technical innovations, increasing farm
yields, rapid acceptance of LED lighting, rising consequence of grow lights in
numerous applications such as in the indoor farming, greenhouse, turf, and
vertical farming, growing urbanization, increasing governments’ initiatives to
make people aware of the benefits of using LED lights, energy efficiency, low
space requirement, and low emanations and vast advantages of LED lights are
likely to drive the LED agricultural grow lights market in the forthcoming
period.
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On the other hand, longer exposure in LED lights has caused
minor headache, itchiness, and redness in eyes; which are anticipated to hinder
LED agricultural grow lights market growth in the forthcoming period. However,
the necessity for long-lasting and energy-efficient lighting technology as a
supplement to natural lighting for plant development is likely to create
lucrative opportunities for the market. The market is anticipated to expand at
a significant CAGR in the upcoming period as the scope, product types, and its
applications are increasing across the globe.
Market could be explored by type, spectrum, application, and
geography. Market could be explored by type as Low Power (<300W) LED Grow
Lights and High Power (=300W) LED Grow Lights. Based on the spectrum, the
market could span partial and full.
The key applications that could be explored in the LED
agricultural grow light market include Research, Vertical Farming, Commercial
Greenhouse, Space Ecological Systems and Turf and Landscaping. The “Vertical
Farming” segment accounted for a prominent share in the market. It is likely to
emerge highly lucrative in the forthcoming period. The key factors that could
be attributed to the growth include increasing in urban farming and increasing
government initiatives to make people aware of the benefits of using LED
lights.
Asia-Pacific is a leading region in the LED agricultural
grow lights to market. It is likely to maintain its dominance in the forecast
period owing to factors, such as rapidly rising the electronic industry in the
emerging countries such as China and India. The foremost manufacturers are
concerned towards the region owing to the availability of inexpensive labor and
large customer base. Asia-Pacific is followed by North American and European
region owing to established key manufacturers and increasing demand.
Leading key players operating in the LED agricultural grow
lights market include Osram, Philips, GE, ever light Electronics, Illumitex,
Opto-LED Technology, Epistar, Syhdee, Sanxinbao Semiconductor, LumiGrow,
Valoya, Kessil, Fiona Lighting, Apollo Horticulture, Nestled and Grow LED
Hydro. The leading companies are taking up partnerships, mergers and
acquisitions, and joint ventures in order to boost the inorganic growth of the
industry.
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Report with TOC @ https://www.millioninsights.com/industry-reports/led-agricultural-grow-lights-market
On the basis of
product, this report displays the production, revenue, price, market share and
growth rate of each type, primarily split into
• 100w
• 300w
• 500w
• Other
On the basis on the
end users/applications, this report focuses on the status and outlook for major
applications/end users, consumption (sales), market share and growth rate of
LED Agricultural Grow Lights for each application, including
• Vegetables
• Flowers and Plants
• Other
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