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Light-emitting Diode (LED) Grow Lights Market by Application and Geography - Forecast and Analysis 2022-2026

  • Published: May 2022
  • Pages: 120
  • SKU: IRTNTR40110
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The predicted growth for the light-emitting diode (LED) grow lights market share from 2021 to 2026 is USD 3.37 billion at a progressing CAGR of 22.14%.

This commercial vehicle fleet management system market forecast report extensively covers segmentations by:

  • Application - Commercial greenhouses, vertical farming, and others
  • Geography - Europe, North America, APAC, South America, and Middle East and Africa

This light-emitting diode (LED) grow lights market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. The light-emitting diode (LED) grow lights market report offers information on several market vendors, including Advanced Grow lights, Black Dog Grow Technologies Inc., Bridgelux Inc., Cidly Co.Ltd., ControlLED Environments Ltd., General Electric Co., GrowRay Lighting Technologies, Heliospectra AB, Kessil, Kind LED Grow Lights, LED Hydroponic Ltd., LumiGrow Inc., OSRAM GmbH, Samsung Electronics Co. Ltd., Senmatic A/S, Shenzhen Grow LED Technology Co. Ltd., Signify NV, SMART Global Holdings Inc., Valoya Oy, and Violet Gro Inc. among others.

What will the Light-emitting Diode (LED) Grow Lights Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Light-emitting Diode (LED) Grow Lights Market Size for the Forecast Period and Other Important Statistics

 

Light-emitting Diode (LED) Grow Lights Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The growth in indoor farming is notably driving the light-emitting diode (LED) grow lights market growth, although factors such as high installation and setup costs may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the light-emitting diode (LED) grow lights industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Light-emitting Diode (LED) Grow Lights Market Driver

  • The growth in indoor farming is one of the key drivers supporting the light-emitting diode (LED) grow lights market growth.
  • Climate change affects agricultural land and the production of crops in a number of ways, such as changes in average temperatures, rainfall, and heat waves.
  • Indoor farming is a new technique that facilitates quick and definite production as it is free from the risk of climate change. 
  • Indoor farming is suited for a wide range of crops and provides optimum growing conditions for each crop variety by providing a full suite of adjustable parameters.
  • Artificial lights are a prerequisite for plant production in growing environments with no natural light. In the absence of sunlight, the quality of light is accentuated to the highest degree. Hence, an increase in indoor farming will lead to the growth of the global LED grow lights market during the forecast period. 

Key Light-emitting Diode (LED) Grow Lights Market Trend

  • Innovation and investments in greenhouse horticulture startups is one of the key light-emitting diode (LED) grow lights market trends fueling the market growth.
  • Rooftop greenhouses are greenhouses built on the roof of a building that harvests food without soil.
  • Rooftop greenhouses use hydroponics and aeroponics methods for irrigation. Hydroponics involves growing plants in sand or gravel, and aeroponics involves using hanging roots that are provided with nutrients in the form of mist.
  • The use of robots in processes such as harvesting and packing reduces human intervention, thereby increasing efficiency, such as in the greenhouses of Mucci Farms.
  • For example, BrightFarms, a startup in the US, has raised $30.1 million in funding to bring greenhouses with the latest technology for producing fresh fruits and vegetables. Hence, the growing partnerships and collaborations will likely drive growth in the global light-emitting diode grow lights market during the forecast period. 

Key Light-emitting Diode (LED) Grow Lights Market Challenge

  • High installation and setup costs is one of the challenges hindering the light-emitting diode (LED) grow lights market growth.
  • LED grow lights are more efficient than HPS as they have a large number of diodes. These diodes are expensive, which increases the price of LED grow lights when compared to other grow light technologies.
  • It is not advisable to use low-priced LED lights as they break sooner than expected.
  • Many growers use LED grow lights produced by Kind LED Grow Lights because of their high yield per watt.
  • For instance, the Solarstorm 880 model of LED grow lights offered by California Lightworks priced at $1,799. Phytomax-2 1000 offered by Grow Technologies is priced at $2,944. Thus, the high price makes it difficult for small growers to invest in LED grow lights for indoor farming. This is likely to impact the global LED grow lights market during the forecast period. 

This light-emitting diode (LED) grow lights market analysis report also provides detaiLED information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global Light-emitting Diode (LED) grow lights market as a part of the global semiconductor equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the light-emitting diode (LED) grow lights market during the forecast period.

Who are the Major Light-emitting Diode (LED) Grow Lights Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Advanced Grow lights
  • Black Dog Grow Technologies Inc.
  • Bridgelux Inc.
  • Cidly Co.Ltd.
  • ControlLED Environments Ltd.
  • General Electric Co.
  • GrowRay Lighting Technologies
  • Heliospectra AB
  • Kessil
  • Kind LED Grow Lights
  • LED Hydroponic Ltd.
  • LumiGrow Inc.
  • OSRAM GmbH
  • Samsung Electronics Co. Ltd.
  • Senmatic A/S
  • Shenzhen Grow LED Technology Co. Ltd.
  • Signify NV
  • SMART Global Holdings Inc.
  • Valoya Oy
  • Violet Gro Inc.

 

This statistical study of the light-emitting diode (LED) grow lights market encompasses successful business strategies deployed by the key vendors. The light-emitting diode (LED) grow lights market is fragmented and the vendors are deploying growth strategies such as light spectrum, frequency, power consumption, and others to compete in the market.

Product Insights and News

  • Advanced Grow lights - The company offers a wide range of LED grow lights such as G8LED C2 enhanced full spectrum LED grow lights which have a target spectrum blend of 380 nanometer to 740 nanometer which include ultraviolet and infrared rays having water-resistant with a passive cooling design for heat dissipation. 
  • Black Dog Grow Technologies Inc. - The company offers LED grow light true which has 3 w LED with a single diode full spectrum that incorporates discreet LED colors of any light to maximize efficiency and yield. 
  • Bridgelux Inc. - The company offers a wide range of V series LED grow lights whose efficacy varies up to 182 lm/W typical features highly efficient lumen output best suited for commercial and residential lighting applications. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The light-emitting diode (LED) grow lights market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Light-emitting Diode (LED) Grow Lights Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the light-emitting diode (LED) grow lights market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Light-emitting Diode (LED) Grow Lights Market?

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40% of the market’s growth will originate from Europe during the forecast period. The Netherlands and the UK are the key markets for the light-emitting diode (LED) grow lights market in Europe. Market growth in this region will be faster than the growth of the market in other regions.

The increasing popularity of vertical farming will facilitate the light-emitting diode (LED) grow lights market growth in Europe over the forecast period. This market research report entails detaiLED information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the COVID-19 pandemic positively impacted the regional LED grow lights market. To maintain food security, countries witnessed an increase in the launch of new vertical farms and indoor farming, which boosted the demand for LED grow lights. These factors will ensure the growth of the LED grow lights market during the forecast period. 

What are the Revenue-generating Application Segments in the Light-emitting Diode (LED) Grow Lights Market?

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The light-emitting diode (LED) grow lights market share growth by the commercial greenhouses segment will be significant during the forecast period. A greenhouse is a structure with a roof made up of transparent material such as glass. The plants are grown in regulated climatic conditions. They eliminate the issue of the short growing season and poor light levels and have led to high demand for LED grow lights. Such an increasing demand for LED grow lights by commercial greenhouses will drive the light-emitting diode grow lights market growth during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the light-emitting diode (LED) grow lights market size and actionable market insights on post COVID-19 impact on each segment.

 

Light-emitting Diode (LED) Grow Lights Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 22.14%

Market growth 2022-2026

$ 3.37 billion

Market structure

Fragmented

YoY growth (%)

19.26

Regional analysis

Europe, North America, APAC, South America, and Middle East and Africa

Performing market contribution

Europe at 40%

Key consumer countries

US, Canada, China, The Netherlands, UK, US, Canada, China, The Netherlands, UK, US, Canada, China, The Netherlands, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiLED

Advanced Grow lights, Black Dog Grow Technologies Inc., Bridgelux Inc., Cidly Co.Ltd., ControlLED Environments Ltd., General Electric Co., GrowRay Lighting Technologies, Heliospectra AB, Kessil, Kind LED Grow Lights, LED Hydroponic Ltd., LumiGrow Inc., OSRAM GmbH, Samsung Electronics Co. Ltd., Senmatic A/S, Shenzhen Grow LED Technology Co. Ltd., Signify NV, SMART Global Holdings Inc., Valoya Oy, and Violet Gro Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Light-emitting Diode (LED) Grow Lights Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • DetaiLED information on factors that will drive light-emitting diode (LED) grow lights market growth during the next five years
  • Precise estimation of the light-emitting diode (LED) grow lights market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the light-emitting diode (LED) grow lights industry across Europe, North America, APAC, South America, and Middle East and Africa
  • A thorough analysis of the market’s competitive landscape and detaiLED information on vendors
  • Comprehensive details of factors that will challenge the growth of light-emitting diode (LED) grow lights market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Application

    • 5.1 Market segments
      • Exhibit 24: Chart on Application - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on Application - Market share 2021-2026 (%)
    • 5.2 Comparison by Application
      • Exhibit 26: Chart on Comparison by Application
      • Exhibit 27: Data Table on Comparison by Application
    • 5.3 Commercial greenhouses - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Commercial greenhouses - Market size and forecast 2021-2026 ($ million)
      • Exhibit 29: Data Table on Commercial greenhouses - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Chart on Commercial greenhouses - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Commercial greenhouses - Year-over-year growth 2021-2026 (%)
    • 5.4 Vertical farming - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Vertical farming - Market size and forecast 2021-2026 ($ million)
      • Exhibit 33: Data Table on Vertical farming - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Chart on Vertical farming - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Vertical farming - Year-over-year growth 2021-2026 (%)
    • 5.5 Others - Market size and forecast 2021-2026
      • Exhibit 36: Chart on Others - Market size and forecast 2021-2026 ($ million)
      • Exhibit 37: Data Table on Others - Market size and forecast 2021-2026 ($ million)
      • Exhibit 38: Chart on Others - Year-over-year growth 2021-2026 (%)
      • Exhibit 39: Data Table on Others - Year-over-year growth 2021-2026 (%)
    • 5.6 Market opportunity by Application
      • Exhibit 40: Market opportunity by Application ($ million)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 41: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 42: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 43: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 44: Chart on Geographic comparison
      • Exhibit 45: Data Table on Geographic comparison
    • 7.3 Europe - Market size and forecast 2021-2026
      • Exhibit 46: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 47: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 48: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 49: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.4 North America - Market size and forecast 2021-2026
      • Exhibit 50: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 51: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 52: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.5 APAC - Market size and forecast 2021-2026
      • Exhibit 54: Chart on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 55: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.6 South America - Market size and forecast 2021-2026
      • Exhibit 58: Chart on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 59: Data Table on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 60: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.7 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 62: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 63: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 64: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.8 US - Market size and forecast 2021-2026
      • Exhibit 66: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 67: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 68: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.9 Canada - Market size and forecast 2021-2026
      • Exhibit 70: Chart on Canada - Market size and forecast 2021-2026 ($ million)
      • Exhibit 71: Data Table on Canada - Market size and forecast 2021-2026 ($ million)
      • Exhibit 72: Chart on Canada - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on Canada - Year-over-year growth 2021-2026 (%)
    • 7.10 China - Market size and forecast 2021-2026
      • Exhibit 74: Chart on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 75: Data Table on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 76: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.11 The Netherlands - Market size and forecast 2021-2026
      • Exhibit 78: Chart on The Netherlands - Market size and forecast 2021-2026 ($ million)
      • Exhibit 79: Data Table on The Netherlands - Market size and forecast 2021-2026 ($ million)
      • Exhibit 80: Chart on The Netherlands - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on The Netherlands - Year-over-year growth 2021-2026 (%)
    • 7.12 UK - Market size and forecast 2021-2026
      • Exhibit 82: Chart on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 83: Data Table on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 84: Chart on UK - Year-over-year growth 2021-2026 (%)
      • Exhibit 85: Data Table on UK - Year-over-year growth 2021-2026 (%)
    • 7.13 Market opportunity by geography
      • Exhibit 86: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 87: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 88: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 89: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 90: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 91: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 92: Matrix on vendor position and classification
            • 10.3 Advanced Grow lights
              • Exhibit 93: Advanced Grow lights - Overview
              • Exhibit 94: Advanced Grow lights - Product / Service
              • Exhibit 95: Advanced Grow lights - Key offerings
            • 10.4 Black Dog Grow Technologies Inc.
              • Exhibit 96: Black Dog Grow Technologies Inc. - Overview
              • Exhibit 97: Black Dog Grow Technologies Inc. - Product / Service
              • Exhibit 98: Black Dog Grow Technologies Inc. - Key offerings
            • 10.5 Bridgelux Inc.
              • Exhibit 99: Bridgelux Inc. - Overview
              • Exhibit 100: Bridgelux Inc. - Product / Service
              • Exhibit 101: Bridgelux Inc. - Key offerings
            • 10.6 General Electric Co.
              • Exhibit 102: General Electric Co. - Overview
              • Exhibit 103: General Electric Co. - Business segments
              • Exhibit 104: General Electric Co. - Key news
              • Exhibit 105: General Electric Co. - Key offerings
              • Exhibit 106: General Electric Co. - Segment focus
            • 10.7 Heliospectra AB
              • Exhibit 107: Heliospectra AB - Overview
              • Exhibit 108: Heliospectra AB - Product / Service
              • Exhibit 109: Heliospectra AB - Key offerings
            • 10.8 LumiGrow Inc.
              • Exhibit 110: LumiGrow Inc. - Overview
              • Exhibit 111: LumiGrow Inc. - Product / Service
              • Exhibit 112: LumiGrow Inc. - Key offerings
            • 10.9 OSRAM GmbH
              • Exhibit 113: OSRAM GmbH - Overview
              • Exhibit 114: OSRAM GmbH - Business segments
              • Exhibit 115: OSRAM GmbH - Key offerings
              • Exhibit 116: OSRAM GmbH - Segment focus
            • 10.10 Senmatic A/S
              • Exhibit 117: Senmatic A/S - Overview
              • Exhibit 118: Senmatic A/S - Product / Service
              • Exhibit 119: Senmatic A/S - Key offerings
            • 10.11 Signify NV
              • Exhibit 120: Signify NV - Overview
              • Exhibit 121: Signify NV - Business segments
              • Exhibit 122: Signify NV - Key news
              • Exhibit 123: Signify NV - Key offerings
              • Exhibit 124: Signify NV - Segment focus
            • 10.12 SMART Global Holdings Inc.
              • Exhibit 125: SMART Global Holdings Inc. - Overview
              • Exhibit 126: SMART Global Holdings Inc. - Business segments
              • Exhibit 127: SMART Global Holdings Inc. - Key news
              • Exhibit 128: SMART Global Holdings Inc. - Key offerings
              • Exhibit 129: SMART Global Holdings Inc. - Segment focus

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 130: Inclusions checklist
                • Exhibit 131: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 132: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 133: Research methodology
                • Exhibit 134: Validation techniques employed for market sizing
                • Exhibit 135: Information sources
              • 11.5 List of abbreviations
                • Exhibit 136: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              The light-emitting diode (led) grow lights market growth will increase by $3371.08 million during 2022-2026.
              The light-emitting diode (led) grow lights market is expected to grow at a CAGR of 22.14% during 2022-2026.
              Technavio has segmented the light-emitting diode (led) grow lights market by application (Commercial greenhouses, Vertical farming, and Others) and geographic (Europe, North America, APAC, South America, and Middle East and Africa).
              Advanced Grow lights, Black Dog Grow Technologies Inc., Bridgelux Inc., Cidly Co.Ltd., Controlled Environments Ltd., General Electric Co., GrowRay Lighting Technologies, Heliospectra AB, Kessil, Kind LED Grow Lights, LED Hydroponic Ltd., LumiGrow Inc., OSRAM GmbH, Samsung Electronics Co. Ltd., Senmatic A/S, Shenzhen Grow LED Technology Co. Ltd., Signify NV, SMART Global Holdings Inc., Valoya Oy, Violet Gro Inc. are a few of the key vendors in the light-emitting diode (led) grow lights market.
              Europe will register the highest growth rate of 39.88% among the other regions. Therefore, the light-emitting diode (led) grow lights market in Europe is expected to garner significant business opportunities for the vendors during the forecast period.
              • US
              • Canada
              • China
              • The Netherlands
              • UK
              • US
              • Canada
              • China
              • The Netherlands
              • UK
              • US
              • Canada
              • China
              • The Netherlands
              • UK
              The key factors driving the light-emitting diode (led) grow lights market growth are:
              • Growth in indoor farming
              • Innovation and investments in greenhouse horticulture startups
              The light-emitting diode (led) grow lights market vendors should focus on grabbing business opportunities from the commercial greenhouses segment as it accounted for the largest market share in the base year.
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