Agricultural LED Grow Lights Market By type Type (Dimmable, Non-dimmable), Application (Indoor & Vertical Farming, Commercial Greenhouse, Research Laboratories, Others ) and Region Analysis, 2021-2027
Report Description
The global Agricultural LED Grow Lights market size is estimated at USD 980.4 million in 2020, expanding at a CAGR 28.1% from 2021-2027 to reach 2,100.4 million USD in 2027.
Market Dynamics
Agricultural LED Grow Lights market is expected to witness healthy growth over the forecast period. The increasing adoption of solid-state lighting technology and controlled environmental agriculture practices are expected to fuel market growth. In addition, the increasing investment in the greenhouse, and vertical farms projects is estimated to bolster the market growth. Moreover, legalized cannabis cultivation in different regions across the world is expected to positively impact the demand for LED grow lights. The growing trend of indoor farming is boosting the demand for LED grow lights. There are several types of grow lights available in the market including LED grow lights, fluorescent grow lights, and high-pressure sodium grows lights. The LED grow lights are more energy-efficient.
The growth of urban farming is projected to spur the increased utility of LED lights. The increasing demand for fresh and nutritious vegetables has propelled the growth of the indoor farming sector which is anticipated to fuel the LED agricultural grow lights market. Further, the rising demand from the poultry industry is driving the growth of agricultural LED lights. Poultry farmers use LED grow lights for the better growth of their chickens. The chicken raised under LED grow lights are found to be producing higher quality & quantity of eggs.
North America is estimated to dominate the global market. The rising penetration of electronics and high computer networks across the region are boosting the market growth. In addition, the increasing demand from consumer devices & semiconductor applications is also contributing to market growth. Europe is projected to propel at a significant rate over the forecast period. Further. The Asia Pacific is expected to hold a significant amount of market share.
The Agricultural LED Grow Lights market is fragmented into type and application segments. Based on type, the dimmable segment is anticipated to dominate the market. By application, the indoor & vertical farming segment is projected to grow at the highest CAGR during the forecast period.
The Agricultural LED Grow Lights market is moderately competitive in nature with the presence of local & international players. Key players in the market engage in strategic mergers & acquisitions, new product development to strengthen their position in the market. For example, in 2019, Everlight Electronics Co. Ltd has announced new horticulture, UV (UVA&UVC) & general lighting products at Guangzhou International Lighting Exhibition.
The report begins with an overview of the Industry Chain, and describes the market environment, then analyses market potential and forecast of Agricultural LED Grow Lights by type, region, and application. In addition, this report introduces the market competition situation among the vendors and company profile, besides, market price analysis and value chain features are covered in this report.
Company Coverage (Company Profile, Sales Revenue, Price, Gross Margin, Main Products, etc.):
- Signify Holding
- General Electric Company
- Illumitex Inc
- Agrilight BV
- Lumileds Holding B.V
- LumiGrow Inc.
- Gavita International B.V.
- Fluence By OSRAM
- Heliospectra AB
- Hawthorne Gardening Company
- Valoya
Type Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):
- Dimmable
- Non-dimmable
Application Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):
- Indoor & Vertical Farming
- Commercial Greenhouse
- Research Laboratories
- Others
Region Coverage (Regional Consumption, Demand & Forecast by Countries, etc.):
- North America (U.S., and Canada)
- Europe (Germany, U.K., France, Italy, Spain, etc.)
- Asia-Pacific (China, India, Japan, Indonesia, Malaysia, Australia, South Korea, etc.)
- South America (Brazil, Mexico, Argentina, etc.)
- Middle East & Africa (Saudi Arabia, Kuwait, UAE, South Africa, etc.)
Table Of Content
1. Agricultural LED Grow Lights Market Overview
1.1. Product Overview and Scope of Agricultural LED Grow Lights
1.2. Global Market Growth Prospects and Revenue Estimates
1.3. Global Agricultural LED Grow Lights Market Size Growth Rate Analysis by Type2020 VS 2027
1.3.1. Dimmable
1.3.2. Non-dimmable
1.4. Global Agricultural LED Grow Lights Consumption Comparison by Application: 2020 VS 2027
1.4.1. Indoor & Vertical Farming
1.4.2. Commercial Greenhouse
1.4.3. Research Laboratories
1.4.4. Others
1.5. Global Agricultural LED Grow Lights Market Size Estimates and Forecasts by Region: 2020 VS 2027
1.5.1. North America Agricultural LED Grow Lights Estimates
1.5.2. Europe Agricultural LED Grow Lights Estimates
1.5.3. China Agricultural LED Grow Lights Estimates
1.5.4. Japan Agricultural LED Grow Lights Estimates
2. Market Competition by Manufacturers
2.1. Global Agricultural LED Grow Lights Revenue Market Share by Manufacturers (2020)
2.2. Agricultural LED Grow Lights Market Share by Company Type(Tier 1, Tier 2 and Tier 3)
2.3. Global Agricultural LED Grow Lights Average Price by Manufacturers (2016-2021)
2.4. Manufacturers Agricultural LED Grow Lights Production Sites, Area Served, Product Types
2.5. Agricultural LED Grow Lights Market Competitive Situation and Trends
2.5.1. Agricultural LED Grow Lights Market Concentration Rate
2.5.2. Mergers & Acquisitions, Expansion
3. Global Agricultural LED Grow Lights Consumption by Region (2016-2021)
3.1. Global Agricultural LED Grow Lights Consumption by Region
3.2. Global Agricultural LED Grow Lights Consumption Market Share by Region
3.2.1. North America
3.2.2. North America Agricultural LED Grow Lights Consumption Growth Rate (2016-2021)
3.2.3. North America Agricultural LED Grow Lights Consumption, Price and Gross Margin (2016-2021)
3.2.4. North America Agricultural LED Grow Lights Consumption by Country
3.2.4.1. U.S.
3.2.4.2. Canada
3.2.5. Europe
3.2.6. Europe Agricultural LED Grow Lights Consumption Growth Rate (2016-2021)
3.2.7. Europe Agricultural LED Grow Lights Consumption, Price and Gross Margin (2016-2021)
3.2.8. Europe Agricultural LED Grow Lights Consumption by Country
3.2.8.1. Germany
3.2.8.2. U.K.
3.2.8.3. France
3.2.8.4. Italy
3.2.8.5. Spain
3.2.9. Asia Pacific
3.2.10. Asia Pacific Agricultural LED Grow Lights Consumption Growth Rate (2016-2021)
3.2.11. Asia Pacific Agricultural LED Grow Lights Consumption, Price and Gross Margin (2016-2021)
3.2.12. Asia Pacific Agricultural LED Grow Lights Consumption by Country
3.2.12.1. China
3.2.12.2. India
3.2.12.3. Japan
3.2.12.4. Indonesia
3.2.12.5. Malaysia
3.2.12.6. Australia
3.2.12.7. South Korea
3.2.13. South America
3.2.14. South America Agricultural LED Grow Lights Consumption Growth Rate (2016-2021)
3.2.15. South America Agricultural LED Grow Lights Consumption, Price and Gross Margin (2016-2021)
3.2.16. South America Agricultural LED Grow Lights Consumption by Country
3.2.16.1. Brazil
3.2.16.2. Mexico
3.2.16.3. Argentina
3.2.17. Middle East and Africa
3.2.18. Middle East and Africa Agricultural LED Grow Lights Consumption Growth Rate (2016-2021)
3.2.19. Middle East and Africa Agricultural LED Grow Lights Consumption, Price and Gross Margin (2016-2021)
3.2.20. Middle East and Africa Agricultural LED Grow Lights Consumption by Country
3.2.20.1. Saudi Arabia
3.2.20.2. Kuwait
3.2.20.3. UAE
3.2.20.4. South Africa
4. Global Agricultural LED Grow Lights Consumption by Type (2016-2021)
4.1. Global Agricultural LED Grow Lights Price by Type (2016-2021)
4.2. Global Agricultural LED Grow Lights Revenue Market Share by Type (2016-2021)
4.2.1. Dimmable
4.2.2. Non-dimmable
5. Global Agricultural LED Grow Lights Consumption by Application (2016-2021)
5.1. Global Agricultural LED Grow Lights Price by Application (2016-2021)
5.2. Global Agricultural LED Grow Lights Revenue Market Share by Application (2016-2021)
5.2.1. Indoor & Vertical Farming
5.2.2. Commercial Greenhouse
5.2.3. Research Laboratories
5.2.4. Others
6. Key Companies Profiled
6.1. Signify Holding
6.1.1. Signify Holding Agricultural LED Grow Lights Corporation Information
6.1.2. Signify Holding Agricultural LED Grow Lights Product Portfolio
6.1.3. Signify Holding Agricultural LED Grow Lights Consumption, Price and Gross Margin (2016-2021)
6.1.4. Signify Holding Main Business and Markets Served
6.1.5. Signify Holding Recent Developments/Updates
6.2. General Electric Company
6.3. Illumitex Inc
6.4. Agrilight BV
6.5. Lumileds Holding B.V
6.6. LumiGrow Inc.
6.7. Gavita International B.V.
6.8. Fluence By OSRAM
6.9. Heliospectra AB
6.10. Hawthorne Gardening Company
6.11. Valoya
7. Marketing Channel, Distributors and Customers
7.1. Marketing Channel
7.2. Agricultural LED Grow Lights Distributors List
7.3. Agricultural LED Grow Lights Customers
8. Market Dynamics
8.1. Agricultural LED Grow Lights Industry Trends
8.2. Agricultural LED Grow Lights Growth Drivers
8.3. Agricultural LED Grow Lights Market Challenges
8.4. Agricultural LED Grow Lights Market Restraints
9. Global Agricultural LED Grow Lights Consumption and Demand Forecast, by Region (2022-2027)
9.1. Global Forecasted Demand Analysis of Agricultural LED Grow Lights, by Regions and Country
9.1.1. North America Forecasted Consumption of Agricultural LED Grow Lights by Country
9.1.2. Europe Market Forecasted Consumption of Agricultural LED Grow Lights by Country
9.1.3. Asia Pacific Market Forecasted Consumption of Agricultural LED Grow Lights by Region
9.1.4. Latin America Forecasted Consumption of Agricultural LED Grow Lights by Country
9.1.5. Middle East and Africa Forecasted Consumption of Agricultural LED Grow Lights by Country
10. Global Agricultural LED Grow Lights Consumption and Demand Forecast, by Device Segments (2022-2027)
10.1. Global Forecasted Consumption of Agricultural LED Grow Lights by Device Segments (2022-2027)
10.2. Global Consumption and Price Forecast by Device Segments (2022-2027)
10.3. Global Forecasted Growth Rate of Agricultural LED Grow Lights by Device Segments (2022-2027)
11. Research Finding and Conclusion
12. Methodology and Data Source
12.1. Methodology/Research Approach
12.1.1. Research Programs/Design
12.1.2. Market Size Estimation
12.1.3. Market Breakdown and Data Triangulation
12.2. Data Source
12.2.1. Secondary Sources
12.2.2. Primary Sources
12.3. Author List
12.4. Disclaimer
Research Methodology
Our research studies are primarily performed in five phases which include Secondary Research, Primary Research, Subject Matter Expert Advice, Quality Check, and Final Review. The process opted for conducting thorough research to make authentic business reports is briefly described below-
Secondary Research-
- Based on the understanding of requirements, we conducted secondary research to identify the Segment specifications, qualitative and quantitative data along with the factors responsible for the growth of the market.
- The secondary sources referred for the study include press releases, company annual reports, and research papers related to the industry.
- Various sources such as industry magazines, trade journals, government websites, and associations were also reviewed for gathering precise analysis on opportunities for business expansions in the market.
- Moreover, quantitative as well as qualitative data were also extracted from paid databases, which included Reuters, Factiva, Bloomberg, One Source, and Hoovers, which proved to be useful for in-depth technical study of the market.
Primary Research-
- The research carried out during the desk research was verified by primary interviews. Primary research was scheduled with a number of industry experts for conducting telephonic interviews, and also our team send questionnaires through their official emails.
- The secondary data collected was then verified by various industry participants which included Segment managers, marketing managers, VPs, CEOs, purchasing managers, subject matter experts.
- An interview with the mentioned participants aids invalidation of our research findings regarding the Segment.
- It helps in the provision of first-hand data on factors such as market size, growth, regional trends, market trends, and competition in the industry. This approach makes our findings precise in order to help our clients in strategic decision-making processes.
Subject Matter Advice-
- The secondary and primary research key findings were then validated by the in-house subject matter experts having extensive experience in the market research industry.
- Specific requirements of the clients were reviewed by the experts to check for completion of the market study. Experts help in channelizing the representation skills of the analyst in terms of providing data that can be easily understood by our customers.
Quality Check-
- The analysis done by the research team was further reviewed to check for data accuracy provided to suit the clients’ specific requirements.
- This revision was done in various phases to check the data authenticity and to remove negligible errors in the final compilation.
Final Review-
- After the quality check, a final review of the report was done to look after the presentation, formatting, and to recheck if all the requirements of the clients were addressed. The next phase remains dispatch of the report to the client.
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