LED Grow Light Market Key Insights Based on Product Type, Applications and Regional Demand Till 2020-2027

Sun Jul 19, 2020 - 10:42am GMT+0000

The LED Grow Light Market report offers comprehensive coverage of all the important factors such as market drivers, leading players, latest trends, revenue, growth rate, volume sales, and consumer insights.

Dublin, Ireland – July 19, 2020 /MarketersMedia/

The research report provides detailed information on enterprises on a global and regional level through an all-inclusive analysis and insights into the developments affecting the businesses. It covers an entire overview of the LED Grow Lights market, including the market share, size, and the projection of the LED Grow Lights market within a specific interval of time.

About LED Grow Lights Market

The key drivers that are surging the demand of the LED grow lights market include the increasing trend regarding the indoor farming methods and the rising popularity of commercial greenhouse for plant cultivation across the globe. With the drastic change in the weather conditions, it has become mandatory for the farmers to opt for the indoor farming techniques to eliminate the effects of extreme temperatures and to keep the crops away from insects and pests. Moreover, the growing awareness related to the exceptional benefits of the LED grow lights is further contributing to the growth of the LED grow light market size.

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Various governments of the developing countries, including India is launching different initiatives to support the adoption of LED lights in order to save energy. For example, in 2015 India’s PM Narender Modi launched the National Program for the distribution of LED lights at a lower price. Numerous multinational giants are emphasizing on collaborating with the end-user to improve their share in the LED grow lights market. For instance, Royal Philips successfully partnered with Green Sense Farms (GSF) to develop indoor commercial farms using LED grow lights as per the specific crops. The increasing number of collaboration in the market will energize the demand of the global LED grow lights over the coming years. On the other edge, the easy availability of alternative glow lights and the high cost of these light are the two major factors that will have a negative impact on the market’s growth.

Competitive Landscape

The notable players in the LED Grow Lights market include OSRAM Opto Semiconductors GmbH., Heliospectra AB, Illumitex, GNUK LTD., ALTA LED Corporation, Koninklijke Philips N.V., Everlight Electronics Co., Ltd., Bridgelux, Inc., Cree, Inc., and LumiGrow, among others.

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Market Segmentation

LED Grow Lights Market by Spectrum:
• Full Spectrum
• Partial Spectrum

LED Grow Lights Market by Power Consumption:
• More than 300W
• Less than or Equal to 300W

LED Grow Lights Market by Installation Type:
• New Installation
• Retrofit

LED Grow Lights Market by Application
• Indoor Farming
• Vertical Farming
• Turf & Landscaping
• Commercial Greenhouse
• Research
• Others

LED Grow Lights Market by Region:
• North America
o United States of America
o Canada

• Asia Pacific
o China
o Japan
o India
o Rest of APAC

• Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe

• RoW
o Brazil
o South Africa
o Saudi Arabia
o Rest of the world (remaining countries of the LAMEA region)

About Noah Research

Noah Research is a market research and consulting firm which provides extensive industry & market research to help businesses around the world in making the toughest business decision. We provide the most comprehensive coverage of any focus industry while ensuring a holistic and deep understanding of the particular market through actionable data. We cover both aspects of the market, the traditional well-established market and the niche markets, especially in the emerging economies. Our clients rely on us to produce reliable, accurate, and timely information. We not only focus on offering the best possible solution in optimal timeframe but also ensures that the trust of our clients is always maintained. We at Noah Research are looking forward in helping businesses to gain a competitive advantage in the specific industry.

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Source: MarketersMedia

Release ID: 88969208