Global LED Grow Lights Market, Analysis & Forecast – 2016 to 2021 Focus on Power Consumption (Low Power and High Power), Spectrum (Partial and Full), and Application (Commercial Greenhouse, Indoor Farming, Vertical Farming, and Turf & Landscaping)
With the increase in population and urbanization, the demand for food has increased. Also the need to reduce energy consumption and increasing emphasis on food security have helped the market for LED grow lights to flourish. This combined with developing trend for indoor farming have led to the growth of the LED grow lights market, which is expected to grow at a CAGR of 28.9% through 2016 to 2021. The report is a compilation of the different segments of global LED grow lights market, including market breakdown by application, power consumption, spectrum type and geographical areas. Herein the revenue generated from the applications, namely: commercial greenhouse, indoor farming, vertical farming, turf and landscaping, and others (Research); power consumption, namely: low power consuming (<300W) and high power consuming (>=300W); spectrum type, namely:; full spectrum and partial spectrum, and geography, namely: North America, Europe, Asia-Pacific, South America, and Middle East and Africa is tracked to calculate the overall market size. The report also provides market numbers and analysis on cross segments which include power consumption by application and spectrum type by application. While highlighting the key driving and restraining forces for this market, the report also provides a detailed summary of the LED grow lights market. It also includes the key participants involved in the industry at the relevant sections.
The report answers the following questions about the global LED grow lights market:
- What is the size, in terms of value ($million) of LED grow lights market in 2016, and growth rate during the forecast period, 2016-2021?
- What are different types of applications of LED grow lights?
- What is the market share of different types of LED grow lights on basis of power consumption and their growth rate during the forecast period, 2016-2021?
- What is the market share of different types of LED grow lights on basis of spectrum type and their growth rate during the forecast period, 2016-2021?
- What is the market size of different power consuming LED grow lights, in terms of value, on the basis of different applications?
- What is the market size of different spectrum emitting LED grow lights, in terms of value, on the basis of different applications?
- What is the LED grow lights market size for different regions and countries in terms of value?
- What are the key trends and opportunities in LED grow lights market, pertaining to countries included in different geographical regions?
- How attractive is the market for different stakeholders present in the industry by analyzing the futuristic scenario of LED grow lights?
- What are the major driving forces that tend to increase the demand for LED grow lights during the forecast period?
- What are the major challenges inhibiting the growth of the global LED grow market?
- What kind of new strategies is being adopted by existing market players to make a mark in the industry?
- What is the competitive strength of key players in the LED grow market by analyzing through market share analysis?
- What are the key market players in the market, along with their detailed analysis & profiles (including their financials, company snapshots, key products & services, and SWOT analysis)?
The report puts special emphasis on the market share of the applications of LED grow lights, owing to the changing paradigms in the industry. In spite of this, due to the numerous instances of failed business models and financial pressure, a majority of potential new entrants resist from adopting LED grow lights. The report further includes a thorough analysis of the impact of the Porter’s five major forces to understand the overall attractiveness of the industry. This segment also focuses on the investments done in the LED grow lights market by the market participants.
The most commonly used strategy for developing a better hold on the market has been through business expansions followed by product launch and development. Moreover, the company profile section highlights significant information about the key companies involved along with their financial positions, key strategies & developmental activities of recent years.
Further, the report includes an exhaustive analysis of the geographical split into North America, Europe, Asia-Pacific (APAC), South America and Middle East and Africa. Each geography details the individual push and pull forces in addition to the key players from that region. The prominent players operating in the global LED grow lights market are are Philips Lighting, Osram Licht A.g., Cree, Inc., and Heliospectra AB, among others.