LED Grow Lights Market Analysis and Industry Trends, 2019-2024

LED grow lights are applied in different industrial uses, such as greenhouses, indoor farms, livestock farming and aquaculture, and research. As of 2018, the greenhouse application of LED grow lights was the largest. With increasing transformation in the farming sector and popularity of indoor farming, the application of LED grow lights in this sector is expected to skyrocket in the upcoming years.

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An exponential increase in investments across the indoor farming sector also drives the adoption of LED grow lights at present During the forecast period, in addition to application of LED grow lights in indoor farming, its use in livestock farming and aquaculture is also expected to increase owing to the gradually rising protein demand globally. Research and development revolving around studying the effects of LED grow lights on animal health is being actively carried out, with rapid product innovations in China.

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Applications in greenhouse farming are also gradually developing, with predominant greenhouse owners proactively looking for innovative solutions to provide supplement lighting for crop cultivation.

North America is expected to maintain market dominance in the LED grow lights industry in the forecast period, owing to rapid technological innovations by research organizations and even manufacturers of LED grow lights.

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