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Global LED Grow Lights Market

Global LED Grow Lights Market, Analysis & Forecast – 2017 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)

The LED grow lights market is expected to grow from $XX.X million in the year 2016 to $2590.0 million by 2021, at a CAGR of XX.X% from 2016 to 2021. The growth is attributed to the increase in demand for food which leads to the need for increasing farm yields. LED grow light applications provide a solution to the problems faced during conventional farming.

SKU: AG029A
Published Year: 2017
 
 

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.

TABLE OF CONTENT
Executive Summary
1 Report Scope & Methodology
1.1 Report Scope
1.2 The LED Grow Lights Market Research Methodology
1.2.1 Assumptions & Limitations
1.2.2 Primary Data Sources
1.2.3 Secondary Data Sources
1.2.4 Data Triangulation
1.2.5 Data Analysing & Market Estimation
2 Market Dynamics
2.1 Drivers
2.1.1 Need to Reduce Energy Consumption
2.1.2 Increasing Emphasis on Food Security
2.1.3 Developing Trend for Indoor Farming
2.2 Restraints
2.2.1 Large Capital Requirement
2.2.2 Lack of Quality Standards for LED Grow Lights
2.3 Opportunities
2.3.1 Promotion of Vertical Farms
2.3.2 Expansion of Smart Phone Technology
3 Competitive Landscape
3.1 Key Market Development & Strategies
3.1.1 Partnerships, Agreements & Joint Ventures
3.1.2 Product Launches
3.1.3 Business Expansion
3.1.4 Mergers & Acquisitions
3.1.5 Others (Awards, Recognitions, Conferences & Expo)
3.2 Industry Attractiveness
3.2.1 Threat of New Entrants
3.2.2 Bargaining Power of Buyers
3.2.1 Bargaining Power of Suppliers
3.2.2 Threat from Substitutes
3.2.3 Intensity of Competitive Rivalry
4 Industry Analysis
4.1 Opportunity Matrix
4.2 Country Share Analysis
4.3 R&D Analysis
4.4 Ranking of Key Companies
5 Global LED Grow Lights Market by Power Consumption
5.1 Assumptions & Limitations for Analysis and Forecast of the Global LED Grow Lights Market
5.2 Market Overview
5.3 Low Power LED Grow Lights
5.3.1 Low Power LED Grow Lights by Application
5.4 High Power LED Grow Lights
5.4.1 High Power LED Grow Lights by Application
6 Global LED Grow Lights Market by Spectrum
6.1 Partial Spectrum
6.1.1 Partial Spectrum LED Grow Lights Market by Application
6.2 Full Spectrum
6.2.1 Full Spectrum LED Grow Lights Market by Application
7 Global LED Grow Lights Market by Application
7.1 Commercial Greenhouse
7.1.1 Commercial Greenhouse Application by Geography
7.2 Indoor Farming
7.2.1 Indoor Farming Application by Geography
7.3 Vertical Farming
7.3.1 Vertical Farming Application by Geography
7.4 Turf and Landscaping
7.4.1 Turf and Landscaping Application by Geography
7.5 Others
7.5.1 Other Applications by Geography
8 Global LED Grow Lights Market by Region
8.1 North America
8.1.1 The U.S.
8.1.2 Canada
8.1.3 Mexico
8.2 Europe
8.2.1 Germany
8.2.2 The U.K.
8.2.3 France
8.2.4 The Netherlands
8.2.5 Spain
8.2.6 Sweden
8.2.7 Italy
8.2.8 Belgium
8.2.9 Poland
8.2.10 Rest of Europe
8.3 Asia-Pacific
8.3.1 China
8.3.2 Japan
8.3.3 South Korea
8.3.4 Southeast Asia
8.3.5 India
8.3.6 Australia
8.3.7 Rest of Asia-Pacific
8.4 South America
8.4.1 Brazil
8.4.2 Argentina
8.4.3 Rest of South America
8.5 Middle East and Africa
8.5.1 South Africa
8.5.2 Egypt
8.5.3 Rest of Middle East and Africa
9 Company Profiles
9.1 California LightWorks
9.1.1 Company Overview
9.1.2 Product Portfolio
9.1.3 SWOT Analysis
9.2 Cirrus Systems, Inc.
9.2.1 Company Overview
9.2.2 Product Portfolio
9.2.3 SWOT Analysis
9.3 Cree, Inc.
9.3.1 Company Overview
9.3.2 Product Portfolio
9.3.3 Financials
9.3.3.1 Overall Financials
9.3.3.2 Segment Revenue Mix
9.3.3.3 Geographic Revenue Mix
9.3.3.4 Financial Summary
9.3.4 SWOT Analysis
9.4 Everlight Electronics Co. Ltd
9.4.1 Company Overview
9.4.2 Product Portfolio
9.4.3 Financials
9.4.3.1 Overall Financials
9.4.3.2 Geographic Revenue Mix
9.4.3.3 Financial Summary
9.4.4 SWOT Analysis
9.5 General Electric
9.5.1 Company Overview
9.5.2 Product Portfolio
9.5.3 Financials
9.5.3.1 Overall Financials
9.5.3.2 Segment Revenue Mix
9.5.3.3 Geographic Revenue Mix
9.5.3.4 Financial Summary
9.5.4 SWOT Analysis
9.6 Heliospectra AB
9.6.1 Company Overview
9.6.2 Product Portfolio
9.6.3 Financials
9.6.3.1 Overall Financials
9.6.4 Financial Summary
9.6.5 SWOT Analysis
9.7 High Power 4s
9.7.1 Company Overview
9.7.2 Product Portfolio
9.7.3 SWOT Analysis
9.8 Illumitex
9.8.1 Company Overview
9.8.2 Product Portfolio
9.8.3 SWOT Analysis
9.9 Lumigrow
9.9.1 Company Overview
9.9.2 Product Portfolio
9.9.3 SWOT Analysis
9.10 OSRAM Licht AG
9.10.1 Company Overview
9.10.2 Product Portfolio
9.10.3 Financials
9.10.3.1 Overall Financials
9.10.3.2 Segment Revenue Mix
9.10.3.3 Geographic Revenue Mix
9.10.3.4 Financial Summary
9.10.4 SWOT Analysis
9.11 Philips Lighting
9.11.1 Company Overview
9.11.2 Product Portfolio
9.11.3 Financials
9.11.3.1 Overall Financials
9.11.3.2 Segment Revenue Mix
9.11.3.3 Geographic Revenue Mix
9.11.3.4 Financial Summary
9.11.4 SWOT Analysis
9.12 Platinum LED Lights LLC
9.12.1 Company Overview
9.12.2 Product Portfolio
9.12.3 SWOT Analysis
9.13 Pro Max Grow
9.13.1 Company Overview
9.13.2 Product Portfolio
9.13.3 SWOT Analysis
9.14 Stadium Grow Lighting
9.14.1 Company Overview
9.14.2 Product Portfolio
9.14.3 SWOT Analysis
9.15 Advanced LED Lights
9.15.1 Company Overview
9.15.2 Product Portfolio
9.15.3 SWOT Analysis
List of Tables
Table 2.1 Initiatives to Ensure Food Security
Table 2.2 Long Term Profit from LED Grow Lights
Table 3.1 Key Partnerships & Collaborations (2014-17)
Table 3.2 Key Launch Activities (2015-16)
Table 3.3 Key Business Expansion Activities (2014-17)
Table 3.4 Key Mergers & Acquisitions (2014-17)
Table 3.5 Analyzing the Threat of New Entrants
Table 3.6 Analyzing the Bargaining Power of Buyers
Table 3.7 Analyzing the Bargaining Power of Suppliers
Table 3.8 Analyzing the Threat from Substitutes
Table 3.9 Analyzing the Intensity of Competitive Rivalry
Table 4.1 Ranking of Key Companies
Table 5.1 Global LED Grow Lights Market by Power Consumption, 2016-2021
Table 5.2 Power Rating of Individual Components Manufactured by Leading Players
Table 5.3 Power Rating of Low Power Assembled Products Manufactured by Leading Players
Table 5.4 Low Power LED Grow Lights by Application, 2016-2021
Table 5.5 Power Rating of High Power LED Grow Light Products Manufactured by Leading Players
Table 5.6 High Power LED Grow Lights by Application, 2016-2021
Table 6.1 Products by Leading Companies Available in Both Spectrums
Table 6.2 Global LED Grow Lights Market by Spectrum, 2016-2021
Table 6.3 Full Spectrum LED Grow Light Products by Leading Companies
Table 6.4 Partial Spectrum LED Grow Lights by Application Type, 2016-2021
Table 6.5 Full Spectrum LED Grow Light Products by Leading Companies
Table 6.6 Full Spectrum LED Grow Lights by Application Type, 2016-2021
Table 7.1 Global LED Grow Lights Market by Application, 2016-2021
Table 7.2 Products by Leading Companies Catering to Vertical Farming
Table 7.3 Commercial Greenhouse Application by Geography, 2016-2021
Table 7.4 Products for Indoor Farming Application by Leading Market Players
Table 7.5 Economic Impact of Extreme Conditions on U.S. Agriculture, 2008-2011
Table 7.6 Vertical Farming Application by Geography, 2016-2021
Table 7.7 Products by Leading Companies Catering to Vertical Farming
Table 7.8 Vertical Farming Application by Geography, 2016-2021
Table 7.9 Major Sports Stadiums Making Use of LED Grow Lights Treatment
Table 7.10 Turf and Landscaping Application by Geography, 2016-2021
Table 7.11 Products by Leading Players Suited for Research Application
Table 7.12 Other Applications by Geography, 2016-2021
Table 8.1 Global LED Grow Lights Market by Region, 2016-2021
Table 8.2 North American LED Grow Lights Market by Country, 2016-2021
Table 8.3 Top ten states in the U.S. with highest crop insurance payouts in 2012
Table 8.4 European LED Grow Lights Market by Country, 2016-2021
Table 8.5 Use of LED Grow Lights in Major Sports Fields in Germany
Table 8.6 Use of LED Grow Lights in Major Sports Fields in the U.K.
Table 8.7 Use of LED Grow Lights in Major Sports Fields in France
Table 8.8 Use of LED grow lights in major sports fields in the Netherlands
Table 8.9 Use of LED Grow Lights in Major Sports Fields in Spain
Table 8.10 Asia-Pacific LED Grow Lights Market by Country, 2016-2021
Table 8.11 Percentage Contribution of Agriculture in GDP of Southeast Asian countries
Table 8.12 Percentage of Urban Population in Southeast Asian Countries
Table 8.13 South America LED Grow Lights Market by Country, 2016-2021
Table 8.14 South America LED Grow Lights Market by Country, 2016-2021
Table 9.1 Product Portfolio: California LightWorks
Table 9.2 Product Portfolio: Cirrus Systems, Inc.
Table 9.3 Product Portfolio: Cree, Inc.
Table 9.4 Product Portfolio: Stadium Grow Lighting
Table 9.5 Product Portfolio: General Electric
Table 9.6 Product Portfolio: Heliospectra A.B.
Table 9.7 Product Portfolio: High Power 4s
Table 9.8 Product Portfolio: Illumitex
Table 9.9 Product Portfolio: Lumigrow, Inc.
Table 9.10 Product Portfolio: Osram Licht AG
Table 9.11 Product Portfolio: Philips Lighting
Table 9.12 Product Portfolio: Platinum LED LLC
Table 9.13 Product Portfolio: Pro Max Grow
Table 9.14 Product Portfolio: Stadium Grow Lighting
Table 9.15 Product Portfolio: Advanced LED Lights
List of Figures
Figure 1 Global LED Grow Lights Market Snapshot, 2016 & 2021
Figure 2 Global LED Grow Lights Market by Application, 2016 & 2021
Figure 3 Global LED Grow Lights Application Market by Geography, 2016 & 2021
Figure 4 Global LED Grow Lights Market by Power Consumption, 2016 & 2021
Figure 5 Global LED Grow Lights Market by Power Consumption on Basis of Application, 2016 & 2021
Figure 6 Global LED Grow Lights Market by Spectrum, 2016 & 2021
Figure 7 LED Grow Lights Market by Spectrum based on Application
Figure 8 Global LED Grow Lights Market by Region, 2016-2021
Figure 9 LED Grow Lights Market by Country, 2016
Figure 1.1 LED Grow Lights Market Scope
Figure 1.2 Report Design
Figure 1.3 Primary Interviews Breakdown, by Player, Designation, and Region
Figure 1.4 Sources of Secondary Research
Figure 1.5 Data Triangulation
Figure 1.6 Top Down-Bottom-Up Approach for Market Estimation
Figure 2.1 Market Dynamics
Figure 2.2 Impact Analysis of Drivers
Figure 2.3 Advantages of Low Energy Consuming LED Grow Lights over HID Grow Lamps
Figure 2.4 Impact Analysis of Restraints
Figure 3.1 Strategies Adopted by the Key Players
Figure 3.2 Share of Key Market Strategies & Developments
Figure 3.3 Porter’s Five Forces Analysis
Figure 4.1 Global LED Grow Lights Market Opportunity Matrix, by Region, 2016
Figure 4.2 Global LED Grow Lights Market Opportunity Matrix, by Country, 2016
Figure 4.3 Global LED Grow Lights Market Opportunity Matrix, by Region, 2016- 2021
Figure 4.4 Country Share Analysis of Global LED Grow Lights Market, 2016
Figure 4.5 R&D Analysis of Key Players in Global LED Grow Lights Market
Figure 5.1 LED Grow Lights Market based on Power Consumption
Figure 5.2 Global LED Lights Market by Power Consumption, 2016 & 2021
Figure 5.3 Global LED Lights Grow Market by Low Power Consumption, 2016-2021
Figure 5.4 Low Power LED Grow Lights by Application
Figure 5.5 Global LED Lights Grow Market by High Power Consumption, 2016-2021
Figure 5.6 High Power LED Grow Lights by Application
Figure 6.1 Types of Spectrum in LED Grow Lights
Figure 6.2 Global LED Lights Market by Spectrum, 2016 & 2021
Figure 6.3 Advantages of Partial Spectrum LED Grow Lights
Figure 6.4 Global LED Grow Lights Market by Partial Spectrum, 2016-2021
Figure 6.5 Partial Spectrum LED Grow Lights by Application Type, 2016 & 2021
Figure 6.6 Uses of Infrared and Ultraviolet Radiations in Plant Growth
Figure 6.7 Global LED Grow Lights Market by Full Spectrum, 2016-2021
Figure 6.8 Full Spectrum LED Grow Lights by Application Type, 2016 & 2021
Figure 7.1 Applications of LED Grow Lights
Figure 7.2 Global LED Grow Lights Market Size by Application, 2016 & 2021
Figure 7.3 Need for Artificial Lighting in Greenhouse
Figure 7.4 Disadvantages of Commercial Greenhouses
Figure 7.5 Global LED Grow Lights Market by Commercial Greenhouse Application, 2016-2021
Figure 7.6 Total Sales from Greenhouses in Canada, 2014-2016
Figure 7.7 Commercial Greenhouse Application by Geography, 2016 & 2021
Figure 7.8 Advantages of Indoor Farming
Figure 7.9 Disadvantages of Indoor Farming
Figure 7.10 Global LED Grow Lights Market by Indoor Farming Application, 2016-2021
Figure 7.11 Indoor Farming Application by Geography, 2016& 2021
Figure 7.12 Advantages of Vertical Farming
Figure 7.13 Disadvantages of Vertical Farming
Figure 7.14 Global LED Grow Lights Market by Vertical Farming Application, 2016-2021
Figure 7.15 Factor Increase in Production from Vertical Farms as Compared to Conventional Farms
Figure 7.16 Vertical Farming Application by Geography, 2016 & 2021
Figure 7.17 Use of LED Grow Lights in Turf and Landscaping
Figure 7.18 Global LED Lights Market by Turf and Landscaping Application, 2016-2021
Figure 7.19 Turf and Landscaping Application by Geography, 2016 & 2021
Figure 7.20 Use of LED Grow Lights in Research Applications
Figure 7.21 Global LED Lights Market by Other Applications, 2016-2021
Figure 7.22 Other Applications by Geography, 2016 & 2021
Figure 8.1 Global LED Grow Lights Market, by Region
Figure 8.2 Global LED Grow Lights Market CAGR by Region, 2016-2021
Figure 8.3 Global LED Grow Lights Market Share by Geography, 2016, 2021
Figure 8.4 Increase in Market Share of Greenhouse Vegetables in the U.S. and Canada, 2006-2011
Figure 8.5 Increasing R&D Investment by Countries in North America, 2013-2015
Figure 8.6 North American LED Grow Lights Market, by country
Figure 8.7 Timeline of Marijuana Legalization in the U.S.
Figure 8.8 The U.S. LED Grow Lights Market Size, 2016-2021
Figure 8.9 Canada LED Grow Lights Market Size, 2016-2021
Figure 8.10 Agricultural Losses due to Tabasco Floods in 2007
Figure 8.11 Mexico LED Grow Lights Market Size, 2016-2021
Figure 8.12 European LED Grow Lights Market, by Country
Figure 8.13 Decrease in the Number of Farms in Germany from 2000-2010
Figure 8.14 Germany LED Grow Lights Market Size, 2016-2021
Figure 8.15 The U.K. LED Grow Lights Market Size, 2016-2021
Figure 8.16 Population in France, 2005, 2010 and 2015
Figure 8.17 France LED Grow Lights Market Size, 2016-2021
Figure 8.18 Population Rise in the Netherlands, 2005, 2010 and 2015
Figure 8.19 The Netherlands LED Grow Lights Market Size, 2016-2021
Figure 8.20 Spain LED Grow Lights Market Size, 2016-2021
Figure 8.21 Population rise in Sweden, 2005, 2010 and 2015
Figure 8.22 Sweden LED Grow Lights Market Size, 2016-2021
Figure 8.23 Population in Italy, 2005, 2010 and 2015
Figure 8.24 Italy LED Grow Lights Market Size, 2016-2021
Figure 8.25 Population Rise in Belgium, 2005, 2010 and 2015
Figure 8.26 Belgium LED Grow Lights Market Size, 2016-2021
Figure 8.27 Population Rise in Poland, 2005, 2010 and 2015
Figure 8.28 Poland LED Grow Lights Market Size, 2016-2021
Figure 8.29 Rest of Europe LED Grow Lights Market Size, 2016-2021
Figure 8.30 Greenhouse Vegetable Area in Different Regions, Hectare
Figure 8.31 Asia-Pacific LED Grow Lights Market, by Country
Figure 8.32 Fertilizer Consumption in China, 2005-2014
Figure 8.33 Population Rise in China, 2005, 2010 and 2015
Figure 8.34 China LED Grow Lights Market Size, 2016-2021
Figure 8.35 Percentage of Arable Land in Japan, 1984-2014
Figure 8.36 Japan LED Grow Lights Market Size, 2016-2021
Figure 8.37 Share of Agriculture in South Korea’s GDP
Figure 8.38 Population Rise in South Korea, 2005, 2010 and 2015
Figure 8.39 South Korea LED Grow Lights Market Size, 2016-2021
Figure 8.40 Southeast Asia LED Grow Lights Market Size, 2016-2021
Figure 8.41 Population Rise in India, 2005, 2010 and 2015
Figure 8.42 Land Under Cultivation in India, 2010-2013
Figure 8.43 India LED Grow Lights Market Size, 2016-2021
Figure 8.44 Chemical Fertilizer Consumption in Australia, 2011-2014
Figure 8.45 Australia LED Grow Lights Market Size, 2016-2021
Figure 8.46 Rest of Asia-Pacific LED Grow Lights Market Size, 2016-2021
Figure 8.47 Agricultural Research and Development Investment in South American Countries
Figure 8.48 South America LED Grow Lights Market by Country, 2016-2021
Figure 8.49 Population Rise and Increasing Urbanization in Brazil, 2005, 2010 and 2015
Figure 8.50 Brazil LED Grow Lights Market Size, 2016-2021 ($Million)
Figure 8.51 Population Rise and Increasing Urbanization in Argentina, 2005, 2010 and 2015
Figure 8.52 Argentina LED Grow Lights Market Size, 2016-2021
Figure 8.53 Rest of South America LED Grow Lights Market Size, 2016-2021
Figure 8.54 Middle East and Africa LED Grow Lights Market by Country, 2016-2021
Figure 8.55 Population Rise and Increasing Urbanization in South Africa, 2005, 2010 and 2015
Figure 8.56 South Africa LED Grow Lights Market Size, 2016-2021
Figure 8.57 Population Rise in Egypt, 2005, 2010 and 2015
Figure 8.58 Egypt LED Grow Lights Market Size, 2016-2021
Figure 8.59 Rest of Middle East and Africa LED Grow Lights Market Size, 2016-2021
Figure 9.1 California LightWorks– SWOT Analysis
Figure 9.2 Cirrus Systems, Inc. – SWOT Analysis
Figure 9.3 Cree, Inc. – Overall Financials, 2014-2016
Figure 9.4 Cree, Inc. – Business Segment Revenue Mix, 2014-2016
Figure 9.5 Cree, Inc. – Geographic Revenue Mix, 2014-2016
Figure 9.6 Cree, Inc.  – SWOT Analysis
Figure 9.7 Everlight Electronics Co. Ltd. – Overall Financials, 2013-2015 ($Million)
Figure 9.8 Everlight Electronics Co. Ltd. – Geographic Revenue Mix, 2013-2015 ($Million)
Figure 9.9 Everlight Electronics Co. Ltd. – SWOT Analysis
Figure 9.10 General Electric – Overall Financials, 2014-2016
Figure 9.11 General Electric– Business Segment Revenue Mix (Industrial Operating Segments), 2014-2016
Figure 9.12 General Electric– Business Segment Revenue Mix (Financial Operating Segments), 2014-2016
Figure 9.13 General Electric– Geographic Revenue Mix, 2014-2016
Figure 9.14 General Electric– SWOT Analysis
Figure 9.15 Heliospectra AB– Overall Financials, 2014-2016
Figure 9.16 Heliospectra AB– SWOT Analysis
Figure 9.17 High Power 4s– SWOT Analysis
Figure 9.18 Illumitex – SWOT Analysis
Figure 9.19 Lumigrow – SWOT Analysis
Figure 9.20 OSRAM Licht AG– Overall Financials, 2014-2016
Figure 9.21 OSRAM Licht AG– Business Segment Revenue Mix, 2014-2016
Figure 9.22 OSRAM Licht AG – Geographic Revenue Mix, 2014-2016
Figure 9.23 OSRAM Licht AG – SWOT Analysis
Figure 9.24 Philips Lighting – Overall Financials, 2014-2016
Figure 9.25 Philips Lighting – Business Segment Revenue Mix, 2015-2016
Figure 9.26 Philips Lighting – Geographic Revenue Mix, 2015-2016
Figure 9.27 Philips Lighting – SWOT Analysis
Figure 9.28 Platinum LED Lights LLC– SWOT Analysis
Figure 9.29 Pro Max Grow– SWOT Analysis
Figure 9.30 Stadium Grow Lighting– SWOT Analysis
Figure 9.31 Advanced LED Lights– SWOT Analysis

The increasing world population and the rapid urbanization has resulted in an increase in demand for food while conventional farming is on a decline. The world population is expected to reach 9.7 billion by 2050 and according to the United Nations around 66% of those will be living in urban areas. There is a need to employ better farming methods that help in improving the yields. With food security gaining increased importance in the worldwide scenario, government across the globe are promoting modern farming techniques which help in producing the best yield from each farmed acre. Vertical and indoor farms help in improving the yields manifold while eliminating the use of chemical fertilizers and pesticides. It has been mentioned in a statistic by Macrothink Institute that the growth of vegetables like carrots, potatoes, tomatoes and lettuce was increased 2-15 times due to the better technology on offer in vertical farms. Whereas the increase in yield was 340-700 times when the effect of stacking was combined with the technology. Vertical and indoor farms also protect the vegetation from the effects of external climatic conditions like drought which is useful in preventing agricultural losses. LED grow lights are an important part of these farms where they compensate for the absence of sunlight. Moreover the introduction of LED technology into the grow lights market has been revolutionary as it reduces the energy consumption and heat radiation. Thus LED grow lights provide an effective and efficient solution to the existing problems that the agricultural sector faces.

The need to reduce energy consumption, increasing emphasis on food security and a developing trend for indoor farming have helped the market for LED grow lights to flourish. Several restaurants have setup their indoor farms to bring the farm to plate concept into practice. The increasing demand for healthy food from the highly urban world population and the legalization of marijuana in the U.S. and similar legislations being set up in Canada further drive the growth of the LED grow lights market. In spite of having many benefits, the requirement of a large capital investment and the lack of quality standards for LED grow lights pose a challenge to the growth of the market.

The LED grow lights market is expected to grow from $XX.X million in the year 2016 to $2590.0 million by 2021, at a CAGR of XX.X% from 2016 to 2021. The growth is attributed to the increase in demand for food which leads to the need for increasing farm yields. LED grow light applications provide a solution to the problems faced during conventional farming.

Global LED Grow Lights Market Snapshot

Global LED Grow Lights Market

Source: BIS Research Analysis, Secondary Research and Expert Views

The concept of LED grow lights market revolves around the major applications which include commercial greenhouses, vertical farming, indoor farming, turf and landscaping, and others (research). The market can also be classified on basis of the power consumed by LED grow lights. They can either be low power (<300W) or high power (>=300W). Further, the LED grow lights market can also be classified on the basis of spectrum type. They can either be partial or full spectrum.

The trends of the LED grow lights market varies with different geographical regions. The LED grow lights market holds a prominent share in various countries of Asia-Pacific (APAC), North America, Europe, South America, and Middle East and Africa. The competitive landscape for the LED grow lights market demonstrates an inclination towards companies adopting strategies such as business expansion and product launch and development. The major established players in the market, are focusing more on business expansion to keep a strong hold on the market. Heliospectra, Philips Lighting, and Illumitex are few of the major industry players that have adopted this strategy to grow their business. These companies expanded their business in different countries to expand their customer base in the market.

The need for more R&D and appropriate regulatory environments is a prerequisite for sustained growth of this market. Various government and private research institutes, and regulatory bodies and associations are putting in substantial efforts to identifying how LED grow lights can be important for required food production. The need for sophisticated farming techniques is necessary to fulfill the increasing demand for food. LED grow lights not only makes farming more productive, it also helps in developing the agriculture and farming sectors in highly urban countries. Farmers need to step up in order to improve the yields and suffice the growing demand. LED grow lights play a major role in doing so. The improving technologies for LED grow lights are expected to reduce their prices. Moreover, the software integration through portable devices can develop further which provides a good growth opportunity for the LED grow lights market.

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