The global LED grow light market is anticipated to grow at a considerable CAGR of around 28.2% during the forecast period (2022-2028). The market players operating in the market are focusing on coming up with new LED grow light technology to aid in growing market demand. In May 2021, NextLight launched a new generation of LED grows light technology with NextLight Mega Pro. NextLight Mega Pro is a High efficient bright white LED grow light that is designed to efficiently outperform traditional 1000WDE HPS and also LED bar fixtures, especially in shared lighting that is high above the canopy. The LED light has the power and versatility for all stages and styles of indoor growing. On the other hand,
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in June 2021, BVV launched, Neocision Spectra LED lighting fixtures that include three fixtures – the Elite, Pro, and Veg. The first fixture is Neocision Spectra Elite a full spectrum light with optimized blue and red spectra that is targeted to commercial growers. The second product is Neocision Spectra Pro it is a full spectrum, mid-range offering that is targeted to more price-conscious commercial, craft, home, and hobbyist growers that carry an MSRP of USD 899. The last fixture is Neocision Spectra Vegetative which is a full spectrum light with increased blue spectra for better veg cycle plant development that is best before flowering and is targeted to indoor and outdoor cultivators, which carries an MSRP of $449.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Global LED Grow Light Market Report Segment
By Installation Type
- New
- Retrofit
By Spectrum
- Full
- Partial
By Application
- Indoor Farming
- Vertical Farming
- Turf & Landscaping
- Commercial Greenhouse
- Others
Global LED Grow Light Market Report by Region
North America
- US
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global LED Grow Light market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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