Light-emitting Diode (LED) Grow Lights Market size to grow by USD 4.87 billion between 2022 - 2027

The potential growth difference for the light-emitting diode (LED) grow lights market between 2022 and 2027 is USD 4.87 billion. The surge in demand for energy-efficient and durable grow light technology is fueling market expansion. Outperforming fluorescent and HPS devices, LED grow lights offer approximately 50% greater efficiency. With minimal heat emission, they are indispensable in commercial greenhouse management, enhancing crop quality and meeting market demands.

Additionally, these devices play a pivotal role in enhancing food taste by providing precise control over light parameters. By optimizing light exposure, growers ensure high yields, superior quality, and enhanced flavor. Consequently, the global market is poised for substantial growth in the forthcoming period.

The light-emitting diode (LED) grow lights market is segmented by application (commercial greenhouses, vertical farming, indoor farming, and others), power rating (low power (<100 w), medium power (100-300 w), and high power (>300 w)), and geography (Europe, North America, APAC, South America, and Middle East and Africa).

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.