Lucintel Forecasts The Global Plants Led Grow Light Market To Reach $5 Billion By 2030

By Author: Lucintel LLC
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According to a market report by Lucintel, the future of the global plants LED grow light market looks promising with opportunities in the commercial greenhouse, indoor grow facility, and research markets. The global plants LED grow light market is expected to reach an estimated $5 billion by 2030 from $2 billion in 2024 at a CAGR of 16.6% from 2024 to 2030. The major drivers for this market are growing demand for energy-efficient lighting systems, increasing use of green technologies & sustainable practices among people, and rising demand for vertical farms and greenhouses.
A more than 150-page report to understand trends, opportunity and forecast in plants LED grow light market to 2030 by type (high power (>300W) and low power (>300W)), application (commercial greenhouses, indoor grow facilities, and research applications), and region (North America, Europe, Asia Pacific, and the Rest of the World).
Lucintel forecasts that high power will remain the higher growing segment over the forecast period.
Within this market, commercial houses will remain the largest segment over the forecast period becasue it ...
... helps in reducing the cost of electricity and increasing the overall plant production rate.
Download sample by clicking on plants LED grow light market.
Europe will remain the highest growing region over the forecast period due to heavy investment in the agricultural sector through various initiatives and schemes by countries, such as, Germany, France, and UK.
Rivgasasha are the major suppliers in the plants LED grow light market.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.com. To get access of more than 1000 reports at fraction of cost visit Lucintel's Analytics Dashboard.
About Lucintel
At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. +1-972-636-5056
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