Global LED Grow Lights Industry

Global LED Grow Lights Industry

  • April 2021 •
  • 207 pages •
  • Report ID: 5896150 •
  • Format: PDF
Abstract:
- Global LED Grow Lights Market to Reach $5.8 Billion by 2027
- Amid the COVID-19 crisis, the global market for LED Grow Lights estimated at US$1.5 Billion in the year 2020, is projected to reach a revised size of US$5.8 Billion by 2027, growing at aCAGR of 21.8% over the period 2020-2027. New, one of the segments analyzed in the report, is projected to record 21.6% CAGR and reach US$4 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Retrofit segment is readjusted to a revised 22.2% CAGR for the next 7-year period.
- The U.S. Market is Estimated at $394.1 Million, While China is Forecast to Grow at 27.3% CAGR
- The LED Grow Lights market in the U.S. is estimated at US$394.1 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.4 Billion by the year 2027 trailing a CAGR of 27.3% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 17.2% and 20% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 18.7% CAGR.

- Select Competitors (Total 39 Featured) -
  • Alta LED
  • Bridgelux, Inc
  • Cree, Inc.
  • Everlight Electronics Co., Ltd
  • General Electric Company
  • Heliospectra AB
  • Illumitex, Inc.
  • LumiGrow, Inc.
  • Osram Licht AG
  • Royal Philips Electronics N.V.