Uploaded on Feb 28, 2020
Led Lighting Horticulture
Led Lighting Horticulture Market Future
Prediction Report -2026
LED lighting horticulture market is directly addressed to the businesses associated with the
commercial, indoor and R&D activities associated with plants, which is in contrast of the field
farming and animal husbandry. These addressable segments are directly dependent on the presence
of sunlight for the crops growth. However, with the increase in global population and lack of
adequate sunlight in regions that include North Central Europe and Nordic countries, requirement of
additional production of vegetables, fruits, medicines and other agricultural products is expected to
drive the demands for these industry products.
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Increased power saving features of LED lights will present lucrative product demands
through the forecast period
Industry is largely characterized by the presence of conventional alternatives such as fluorescent
and high pressure sodium (HPS) products. These products are featured with high power
consumption, these in turn lead to heavy electricity bills and lower profit margins for commercial
applications.However, horticulturists are increasingly encouraging the use of LED lighting for
applications owing to the related power savings, optimum plant light outputs and considerably
longer lifecycles up to 5X the conventional products. These factors are expected to provide major
traction to the LED Lighting Horticulture market during the next few years.
Moreover, rather than increasingly focusing on the commercial sales of the products, major industry
participants that include Philips Lighting and Osram Sylvania are increasingly focusing on
awareness through investing in trial projects.
Low light intensity is the major drawback that will restrain the growth of LED lighting
horticulture market
Conventional alternatives that includes specifically includes HPS are associated with additional
costs owing to their short lifecycles, requirement to alter the lights almost every year and high labor
costs. However, these are expected to remain in the industry for long owing to their high intensity
and low light degradation that is 1% every thousand hours of utilization.However, long term
warranties of the LED counterparts only ensures only 70% of the initial lumen output over its
lifecycle. This is expected to remain as the major restraining factor for the industry over the forecast
period. Moreover, low overall initial outputs also require the plants to be located in the close
proximity. This in turn can lead to blocking of the naturally available sunlight, which may lead to 24
hours requirement of these lights. This may hamper the overall yield up to 30% which is not ideal
for growers who want to maintain the annual yield which may in turn lead to decreased consumer
inclinations.
These factors are anticipated to be most likely be dealt with the utilization of increased intensity
with certain product developments over the next few years. Moreover, aforementioned benefits
outweigh these drawbacks and LED lighting horticulture market is expected to gain highest traction
over the coming years
LED Lighting Horticulture Market Taxonomy
On the basis of application, the global LED lighting horticulture market is classified into:
•R&D
•Personal
•Commercial (greenhouse)
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Global LED Lighting Horticulture Market: Key Players
Chief industry participants in the LED lighting horticulture market include Fluence
Bioengineering, Inc., Cree, Illumitex, Kessil Lighting, Heliospectra, Hubbell Lighting,
LumiGrow, Lemnis Oreon, Osram Sylvania and Smart Grow Technologies.
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