Grow Lights Market to grow by USD 4.87 billion between 2022 - 2027

The Light-emitting Diode (LED) Grow Lights Market report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years.

The potential growth difference for the light-emitting diode (LED) grow lights market between 2022 and 2027 is USD 4.87 billion. The need for energy-efficient and long-lasting grow light technology drives the LED grow lights market. Compared to fluorescent grow lights and HPS grow lights, LED grow lights are more energy efficient. LED grow lights play an important role in commercial greenhouse management.

This is because it helps improve crop quality and optimize production to meet market demand. They are also efficient and energy savers. Hence, such factors drive the growth of the LED grow lights market during the forecast period. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here

The commercial greenhouses segment will be significant during the forecast period. LED grow lights help increase the production capacity and thus, are increasingly chosen by commercial greenhouse operators. Initially, about 25% of the total greenhouse area was fitted with LED lights on top of the Hyperion 1750, which provided over 200 micromol/s/m2 of artificial light. However, vendors like Sterling Suffolk plan to expand the LED grow lights area in the following years. This is estimated to help to produce high-yielding tomatoes year-round. Hence, such factors drive the commercial greenhouses segment of the LED grow lights market during the forecast period.

Europe will contribute 35% to the growth of the global market during the forecast period. View Free Sample Report for insights into the contribution of all the segments and regional opportunities in the report.