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The global LED grow light market value reached US$ 1.5 billion in 2021. Over the next ten years, global LED grow light sales will thrive at 22.7% CAGR. total market size is likely to increase from US$ 1.9 billion in 2022 to US$ 14.8 billion by the end of 2032.
Demand will continue to remain high for LED grow lights with less than 300 watts of power. As per Future Market Insights, less than 300 watts’ segment is set to expand at 22.6% CAGR through 2032.
Key Trends Shaping LED Grow Lights Demand:
Grow lights are electric lights that help plants to grow. These lights provide a suitable spectrum ideal for optimal growth of plants. They allow growers to control various aspects of crop growth to get better results.
Grow lights find application in horticulture (including indoor hydroponics), indoor gardening, vertical farming, commercial greenhouses, etc. These artificial lights perform the function of sun in indoor spaces by emitting light of wavelength conducive to plant development.
A few common types of bulbs used as grow lights include fluorescent lights, incandescent lamps, light-intensity discharge lamps (HID), and light-emitting diodes.
Initially, HIDs and incandescent lamps were mostly used by growers. However, in recent years, the focus has completely shifted towards LED grow lights. This is due to their efficiency and economy.
Energy-efficient lights used by indoor and greenhouse framers as well as cannabis growers are called LED grow lights. These lights promote plant growth using full-spectrum at lower costs than traditional horticulture lighting such as HPS lamps.
LED grow lights consumer
Few advantages of LED grow lights include:
Shift from conventional horticulture lighting such as HID and incandescent lamps to modern ones such as solid-state light sources (LED and OLED) will boost the market.
Growing adoption of indoor farming and vertical farming as a means of tackling food insecurity is likely to propel demand for LED grow lights.
According to the Food and Agriculture Organization (FAO) of the United Nations, severe food insecurity reached 11.7% in 2021. This is prompting farmers to shift towards modern agricultural techniques.
Driven by this, sales of LED grow lights will increase significantly as they have become essential tools in these modern agricultural practices.
Reduction in arable land is another key factor creating opportunities for LED grow light manufacturers. In recent years, there has been a sharp reduction in arable land globally. This is due to population growth, urbanization, industrialization, and certain environmental factors.
To counter this and meet growing food demand, farmers are using commercial greenhouses. As LED grow lights are being used in commercial greenhouses to promote plant growth and increase yields, rising number of commercial greenhouses will trigger LED grow light sales.
New product launches will further boost the global LED grow light industry through 2032. Various grow light manufacturers are expanding their LED grow light portfolios by introducing new products.
For instance, in September 2020, two new-generation greenhouse LEDs (RX500 and RX600) were introduced by Valoya. Recently, a new generation LED grow light was launched by Polymatech for hydroponics, vertical farming, and horticulture applications.
Attributes | Key Insights |
---|---|
Global LED Grow Light Market Size in 2022 | US$ 1.9 billion |
Projected Market Size (2032) | US$ 14.8 billion |
Value-based CAGR (2022 to 2032) | 22.7% |
USA Market CAGR (2022 to 2032) | 21.9% |
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Historically, from 2017 to 2021, the value of the LED grow lights market increased by around 27.8% CAGR. Over the next ten years, global sales of LED grow lights are set to rise at 22.7% CAGR. This will help the market to generate an absolute $ opportunity of US$ 12.9 billion through 2032.
Electric light that helps promote plant growth in indoor environments is known as a grow light. Grow lights either aim to provide a spectrum of light that is similar to that of the sun or one that is more suited to the requirements of the plants being grown.
This enhances the crop yield in areas where the climatic conditions are not typically suited for the plants due to the absence or low availability of sunlight. Grow lights provide suitable lighting conditions for the plants.
LED grow lights are being used widely as they are highly energy-efficient compared to traditional grow lights, such as high-pressure sodium (HPS) and metal halide (MH) lamps. They use less electricity to produce the same amount of light, resulting in lower electricity bills for growers.
Further, these lights can be customized to radiate specific wavelengths of light that plants need for better growth. Growers can tailor their lighting systems to the specific needs of their crops, resulting in higher yields.
LED grow lights generally have a longer lifespan than other conventional grow lights, which means growers don't have to replace them as often. This reduces the overall cost of lighting systems over time.
LED grow lights produce less heat than traditional grow lights which were made up of halogen bulbs and CFL lamps. Hence, they reduce the need for additional cooling systems that consume more energy.
As the world's population continues to expand, there is an increasing demand for food that can be grown in controlled indoor environments. LED grow lights are essential components of indoor farming systems and greenhouses. Hence, rising adoption of these farming techniques will fuel LED grow lamp sales.
The world population is likely to increase to around 8.7 billion by 2033. Along with the rapid rise in the population, the agricultural land under cultivation has been decreasing over the past few years. It is projected that around 3.3 million hectares of farmlands will be lost to rapid urbanization due to population growth.
As LED grow lights are widely used for indoor farming and greenhouse farming, rising demand for food around globally will increase the number of indoor farms. This in turn will elevate LED grow light demand during the assessment period.
As per the latest analysis, Asia Pacific is likely to create lucrative growth prospects for the LED grow light industry through 2032. Currently, Asia Pacific LED grow light market is valued at US$ 947 million. By the end of 2032, it will cross a valuation of US$ 7.3 billion.
Demand for LED grow lights is increasing in the region due to various factors such as the lack of space for farming. Asia Pacific is home to various densely populated cities, which often means limited space for outdoor farming.
LED grow lights can be used to grow crops vertically, making them a popular choice for urban farmers. They significantly improve crop yields.
Asia Pacific is a leading region in terms of population with around 4.3 billion people. Yet agricultural activities are done in only 30% of the land available in the region. 50% of the population in the Asia Pacific region lived in urban settings in 2020 which is projected to increase to around 55%.
With the rise in population and rapid urbanization in the region, the adoption of indoor farming practices will increase dramatically. This in turn is set to propel demand for LED grow lights.
Similarly, with rising population and a greater emphasis on healthy living, there is a growing demand for fresh produce in the region. LED grow lights can be used to grow crops indoors, year-round, providing a consistent supply of fresh produce regardless of the season.
These lights can also allow growers to have greater control over the growing environment, including temperature, humidity, and light intensity. This means that crops can be grown under optimal conditions, resulting in higher yields and better-quality produce.
Intelligent Lighting Control Market:
Differentiating Aspects | Intelligent Lighting Control Market |
---|---|
CAGR for 2022 to 2032 | 16.5% |
Market Valuation in 2022 | 22,940 million |
Demand Drivers |
|
Chip-on-Board Light Emitting Diode (LED) Market:
Differentiating Aspects | Chip-on-Board Light Emitting Diode (LED) Market |
---|---|
CAGR for 2022 to 2032 | 28.9% |
Market Valuation in 2022 | US$ 23.5 billion |
Demand Drivers |
|
Country | United States |
---|---|
Projected CAGR (2022 to 2032) | 21.9% |
Historical CAGR (2017 to 2021) | 24.2% |
Market Value (2032) | US$ 2.4 billion |
Country | United Kingdom |
---|---|
Projected CAGR (2022 to 2032) | 20.9% |
Historical CAGR (2017 to 2021) | 22.6% |
Market Value (2032) | US$ 407.1 million |
Country | China |
---|---|
Projected CAGR (2022 to 2032) | 24.4% |
Historical CAGR (2017 to 2021) | 30.3% |
Market Value (2032) | US$ 3.8 billion |
Country | Japan |
---|---|
Projected CAGR (2022 to 2032) | 23.0% |
Historical CAGR (2017 to 2021) | 28.1% |
Market Value (2032) | US$ 2.3 billion |
Country | South Korea |
---|---|
Projected CAGR (2022 to 2032) | 23.2% |
Historical CAGR (2017 to 2021) | 29.5% |
Market Value (2032) | US$ 917.6 million |
Reduction in Arable Land to Create Growth Prospects for the USA LED Grow Lights Industry
As per Future Market Insights, the United States will remain one of the key markets for LED grow lights. LED grow light demand in the country grew at 24.2% CAGR from 2017 to 2021. For the projection period, the United States LED grow light market will expand at 21.9% CAGR.
By the end of 2032, the USA market will exceed a valuation of US$ 2.4 billion. It is set to create an absolute dollar growth of US$ 2 billion over the next decade. Growing popularity of indoor vertical farming due to reduction in arable land is a key factor driving the USA market.
The United States has a population of 336 million which is projected to increase to around 349 million by 2030. Around 52% of the total land base of the United States is under agricultural use.
With rising population, the rate of urbanization is also likely to increase in the country, therefore decreasing the land available for agriculture. As per the USA Department of Agriculture (USDA), total number of farms in the USA reduced from 2.20 million in 2007 to 2.02 million in 2020.
This has prompted farmers to adopt indoor farming techniques such as vertical farming and greenhouse farming. As LED grow lights are used in greenhouses and vertical farms to provide the plants with adequate light to grow, demand for LED grow lights will increase at an impressive pace over the next ten years.
Growing Popularity of Indoor Vertical Farming to Elevate LED Grow Light Demand in China
China is set to retain its monopoly in the global LED grow light industry during the forecast period. As per the latest analysis, China’s LED grow light market will top a valuation of US$ 3.8 billion by 2032. It is forecast to generate an absolute $ opportunity of US$ 3.4 billion over the next ten years.
The LED grow light industry in China witnessed a CAGR of 30.3% from 2017 to 2021. Between 2022 and 2032, LED grow light sales in the country will surge at 24.4% CAGR.
China is currently the most populated country in the world. It has a significant population with around 1.4 billion people living in the country in 2023 and is projected to reach around 1.5 billion by 2033.
With this rising population, the demand for food is also projected to increase in the country. Only 10% of land in China is arable and the arable land is decreasing at a rapid rate of around 300 sq. Km/Year.
Therefore, the country is rapidly adopting indoor farming methods such as vertical farming and greenhouse farming to keep up with the demand. This in turn is propelling demand for LED grow lights as they have become essential equipment in indoor farming and greenhouses.
Rising Number of Vertical Farms and Greenhouses to Bolster LED Grow Light Sales in Japan
Japan LED grow light market registered a CAGR of 28.1% between 2017 and 2021. For the next ten years, LED grow light sales will surge at 23.0% CAGR. This will steer the total market valuation past US$ 2.3 billion by 2032.
Growth in Japan market is driven by an increase in vertical farms across the country. Japan has around 200 vertical farms and 52000 hectares of greenhouses. These numbers are likely to further increase due to reduction in arable land and rising demand for food products.
Since LED grow lights are used in vertical farms and greenhouses for providing crops with adequate light, the demand for LED grow lights will rise at a prolific pace across Japan.
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Demand to Remain High for <300 Watt LED Grow Lights
Based on product, the market is segmented into more than 300 watts and less than 300 watts. Among these, less than 300 watts segment expanded at a CAGR of 27.4% from 2017 to 2021. For the next ten years, demand for less than 300 watt LED grow lights is set to rise at 22.6% CAGR.
LED grow lights with less than 300 watts of power are becoming increasingly popular among indoor growers. This is because they are highly efficient and can produce a lot of light using less power than traditional grow lights.
By using LED grow lights with less than 300 watts of power, growers can reduce their energy consumption and save money on electricity bills.
Moreover, <300 watt LED grow lights produce less heat than traditional grow lights. It means that they can be used in smaller spaces without the need for additional cooling equipment. This is particularly important for indoor growers who may not have access to ventilation or air conditioning.
LED grow lights with less than 300 watts of power also come with customizable spectrum settings, which allow growers to adjust the light output based on the specific needs of their plants. This can result in better growth, yield, and overall plant health.
New Installation Segment to Generate Lucrative Revenues Through 2032
By installation type, the global market is segmented into retrofit and new installation. Among these, new installation segment is likely to generate significant revenues in the market. This is due to rising end user preference for new LED grow lights.
From 2017 to 2021, the new installations segment grew at a CAGR of 27%. Over the projection period (2022 to 2032), it will progress at 22.5% CAGR. Hence, it will continue to remain the top revenue generation segment.
Illumitex, Inc., Bridgelux, Inc., Royal Dutch Shell plc, Lumigrow, Inc., Osram Licht AG, Heliospectra AB, General Electric Company, Everlight Electronics Co. Ltd., SMART Global Holdings, Inc., Royal Philips Electronics N.V., and Petronas are few of the prominent LED grow light manufacturers.
New product launches, mergers, acquisitions, collaborations, and facility expansions are key strategies adopted by these companies.
Recent Developments:
Attribute | Details |
---|---|
Current Market Size (2022) | US$ 1.9 billion |
Projected Market Size (2032) | US$ 14.8 billion |
Anticipated Growth Rate (2022 to 2032) | 22.7% CAGR |
Forecast Period | 2022 to 2032 |
Historical Data Available for | 2017 to 2021 |
Market Analysis | US$ Million for Value and MT for Volume |
Key Regions Covered | North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa |
Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Italy, Spain, Nordic, Russia, Poland, China, India, Thailand, Indonesia, Australia and New Zealand, Japan, GCC countries, North Africa, South Africa, and others. |
Key Segments Covered | Product, Installation Type, Application, and Region |
Key Companies Profiled |
|
Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers Restraints Opportunity Trends Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The new installation type holds high revenue potential.
The United States , China and Japan are estimated to dominate the global market.
The market is forecast to register a CAGR of 22.7% through 2032.
During 2018 to 2022, the market registered a CAGR of 27.8%.
The rising usage of smart greenhouses are the current market trends.
1. Executive Summary | LED Grow Lights Market 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Product Life Cycle Analysis 3.5. Supply Chain Analysis 3.5.1. Supply Side Participants and their Roles 3.5.1.1. Producers 3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers) 3.5.1.3. Wholesalers and Distributors 3.5.2. Value Added and Value Created at Node in the Supply Chain 3.5.3. List of Raw Material Suppliers 3.5.4. List of Existing and Potential Buyer’s 3.6. Investment Feasibility Matrix 3.7. Value Chain Analysis 3.7.1. Profit Margin Analysis 3.7.2. Wholesalers and Distributors 3.7.3. Retailers 3.8. PESTLE and Porter’s Analysis 3.9. Regulatory Landscape 3.9.1. By Key Regions 3.9.2. By Key Countries 3.10. Regional Parent Market Outlook 3.11. Production and Consumption Statistics 3.12. Import and Export Statistics 4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032 4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2017 to 2021 4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2022 to 2032 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Product 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Product, 2017 to 2021 5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Product, 2022 to 2032 5.3.1. <300 Watt 5.3.2. >300 Watt 5.4. Y-o-Y Growth Trend Analysis By Product, 2017 to 2021 5.5. Absolute $ Opportunity Analysis By Product, 2022 to 2032 6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Installation Type 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Installation Type, 2017 to 2021 6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Installation Type, 2022 to 2032 6.3.1. Retrofit 6.3.2. New Installation 6.4. Y-o-Y Growth Trend Analysis By Installation Type, 2017 to 2021 6.5. Absolute $ Opportunity Analysis By Installation Type, 2022 to 2032 7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Application 7.1. Introduction / Key Findings 7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Application, 2017 to 2021 7.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Application, 2022 to 2032 7.3.1. Indoor Farming 7.3.2. Commercial Greenhouse 7.3.3. Vertical Farming 7.3.4. Turf and Landscaping 7.3.5. Research 7.3.6. Others 7.4. Y-o-Y Growth Trend Analysis By Application, 2017 to 2021 7.5. Absolute $ Opportunity Analysis By Application, 2022 to 2032 8. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 8.1. Introduction 8.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Region, 2017 to 2021 8.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Region, 2022 to 2032 8.3.1. North America 8.3.2. Latin America 8.3.3. Europe 8.3.4. Asia Pacific 8.3.5. Middle East & Africa 8.4. Market Attractiveness Analysis By Region 9. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 9.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2021 9.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032 9.2.1. By Country 9.2.1.1. USA 9.2.1.2. Canada 9.2.2. By Product 9.2.3. By Installation Type 9.2.4. By Application 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Product 9.3.3. By Installation Type 9.3.4. By Application 9.4. Key Takeaways 10. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 10.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2021 10.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032 10.2.1. By Country 10.2.1.1. Brazil 10.2.1.2. Mexico 10.2.1.3. Rest of Latin America 10.2.2. By Product 10.2.3. By Installation Type 10.2.4. By Application 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Product 10.3.3. By Installation Type 10.3.4. By Application 10.4. Key Takeaways 11. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 11.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2021 11.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032 11.2.1. By Country 11.2.1.1. Germany 11.2.1.2. United Kingdom 11.2.1.3. France 11.2.1.4. Spain 11.2.1.5. Italy 11.2.1.6. Rest of Europe 11.2.2. By Product 11.2.3. By Installation Type 11.2.4. By Application 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Product 11.3.3. By Installation Type 11.3.4. By Application 11.4. Key Takeaways 12. Asia Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 12.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2021 12.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032 12.2.1. By Country 12.2.1.1. China 12.2.1.2. Japan 12.2.1.3. South Korea 12.2.1.4. Singapore 12.2.1.5. Thailand 12.2.1.6. Indonesia 12.2.1.7. Australia 12.2.1.8. New Zealand 12.2.1.9. Rest of Asia Pacific 12.2.2. By Product 12.2.3. By Installation Type 12.2.4. By Application 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Product 12.3.3. By Installation Type 12.3.4. By Application 12.4. Key Takeaways 13. Middle East & Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 13.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2021 13.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032 13.2.1. By Country 13.2.1.1. GCC Countries 13.2.1.2. South Africa 13.2.1.3. Israel 13.2.1.4. Rest of Middle East & Africa 13.2.2. By Product 13.2.3. By Installation Type 13.2.4. By Application 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Product 13.3.3. By Installation Type 13.3.4. By Application 13.4. Key Takeaways 14. Key Countries Market Analysis 14.1. USA 14.1.1. Pricing Analysis 14.1.2. Market Share Analysis, 2022 14.1.2.1. By Product 14.1.2.2. By Installation Type 14.1.2.3. By Application 14.2. Canada 14.2.1. Pricing Analysis 14.2.2. Market Share Analysis, 2022 14.2.2.1. By Product 14.2.2.2. By Installation Type 14.2.2.3. By Application 14.3. Brazil 14.3.1. Pricing Analysis 14.3.2. Market Share Analysis, 2022 14.3.2.1. By Product 14.3.2.2. By Installation Type 14.3.2.3. By Application 14.4. Mexico 14.4.1. Pricing Analysis 14.4.2. Market Share Analysis, 2022 14.4.2.1. By Product 14.4.2.2. By Installation Type 14.4.2.3. By Application 14.5. Germany 14.5.1. Pricing Analysis 14.5.2. Market Share Analysis, 2022 14.5.2.1. By Product 14.5.2.2. By Installation Type 14.5.2.3. By Application 14.6. United Kingdom 14.6.1. Pricing Analysis 14.6.2. Market Share Analysis, 2022 14.6.2.1. By Product 14.6.2.2. By Installation Type 14.6.2.3. By Application 14.7. France 14.7.1. Pricing Analysis 14.7.2. Market Share Analysis, 2022 14.7.2.1. By Product 14.7.2.2. By Installation Type 14.7.2.3. By Application 14.8. Spain 14.8.1. Pricing Analysis 14.8.2. Market Share Analysis, 2022 14.8.2.1. By Product 14.8.2.2. By Installation Type 14.8.2.3. By Application 14.9. Italy 14.9.1. Pricing Analysis 14.9.2. Market Share Analysis, 2022 14.9.2.1. By Product 14.9.2.2. By Installation Type 14.9.2.3. By Application 14.10. China 14.10.1. Pricing Analysis 14.10.2. Market Share Analysis, 2022 14.10.2.1. By Product 14.10.2.2. By Installation Type 14.10.2.3. By Application 14.11. Japan 14.11.1. Pricing Analysis 14.11.2. Market Share Analysis, 2022 14.11.2.1. By Product 14.11.2.2. By Installation Type 14.11.2.3. By Application 14.12. South Korea 14.12.1. Pricing Analysis 14.12.2. Market Share Analysis, 2022 14.12.2.1. By Product 14.12.2.2. By Installation Type 14.12.2.3. By Application 14.13. Singapore 14.13.1. Pricing Analysis 14.13.2. Market Share Analysis, 2022 14.13.2.1. By Product 14.13.2.2. By Installation Type 14.13.2.3. By Application 14.14. Thailand 14.14.1. Pricing Analysis 14.14.2. Market Share Analysis, 2022 14.14.2.1. By Product 14.14.2.2. By Installation Type 14.14.2.3. By Application 14.15. Indonesia 14.15.1. Pricing Analysis 14.15.2. Market Share Analysis, 2022 14.15.2.1. By Product 14.15.2.2. By Installation Type 14.15.2.3. By Application 14.16. Australia 14.16.1. Pricing Analysis 14.16.2. Market Share Analysis, 2022 14.16.2.1. By Product 14.16.2.2. By Installation Type 14.16.2.3. By Application 14.17. New Zealand 14.17.1. Pricing Analysis 14.17.2. Market Share Analysis, 2022 14.17.2.1. By Product 14.17.2.2. By Installation Type 14.17.2.3. By Application 14.18. GCC Countries 14.18.1. Pricing Analysis 14.18.2. Market Share Analysis, 2022 14.18.2.1. By Product 14.18.2.2. By Installation Type 14.18.2.3. By Application 14.19. South Africa 14.19.1. Pricing Analysis 14.19.2. Market Share Analysis, 2022 14.19.2.1. By Product 14.19.2.2. By Installation Type 14.19.2.3. By Application 14.20. Israel 14.20.1. Pricing Analysis 14.20.2. Market Share Analysis, 2022 14.20.2.1. By Product 14.20.2.2. By Installation Type 14.20.2.3. By Application 15. Market Structure Analysis 15.1. Competition Dashboard 15.2. Competition Benchmarking 15.3. Market Share Analysis of Top Players 15.3.1. By Regional 15.3.2. By Product 15.3.3. By Installation Type 15.3.4. By Application 16. Competition Analysis 16.1. Competition Deep Dive 16.1.1. Royal Philips Electronics N.V. 16.1.1.1. Overview 16.1.1.2. Product Portfolio 16.1.1.3. Profitability by Market Segments 16.1.1.4. Sales Footprint 16.1.1.5. Strategy Overview 16.1.1.5.1. Marketing Strategy 16.1.1.5.2. Product Strategy 16.1.1.5.3. Channel Strategy 16.1.2. Lumigrow, Inc. 16.1.2.1. Overview 16.1.2.2. Product Portfolio 16.1.2.3. Profitability by Market Segments 16.1.2.4. Sales Footprint 16.1.2.5. Strategy Overview 16.1.2.5.1. Marketing Strategy 16.1.2.5.2. Product Strategy 16.1.2.5.3. Channel Strategy 16.1.3. Osram Licht AG 16.1.3.1. Overview 16.1.3.2. Product Portfolio 16.1.3.3. Profitability by Market Segments 16.1.3.4. Sales Footprint 16.1.3.5. Strategy Overview 16.1.3.5.1. Marketing Strategy 16.1.3.5.2. Product Strategy 16.1.3.5.3. Channel Strategy 16.1.4. Heliospectra AB 16.1.4.1. Overview 16.1.4.2. Product Portfolio 16.1.4.3. Profitability by Market Segments 16.1.4.4. Sales Footprint 16.1.4.5. Strategy Overview 16.1.4.5.1. Marketing Strategy 16.1.4.5.2. Product Strategy 16.1.4.5.3. Channel Strategy 16.1.5. General Electric Company 16.1.5.1. Overview 16.1.5.2. Product Portfolio 16.1.5.3. Profitability by Market Segments 16.1.5.4. Sales Footprint 16.1.5.5. Strategy Overview 16.1.5.5.1. Marketing Strategy 16.1.5.5.2. Product Strategy 16.1.5.5.3. Channel Strategy 16.1.6. SMART Global Holdings, Inc. 16.1.6.1. Overview 16.1.6.2. Product Portfolio 16.1.6.3. Profitability by Market Segments 16.1.6.4. Sales Footprint 16.1.6.5. Strategy Overview 16.1.6.5.1. Marketing Strategy 16.1.6.5.2. Product Strategy 16.1.6.5.3. Channel Strategy 16.1.7. Everlight Electronics Co. Ltd. 16.1.7.1. Overview 16.1.7.2. Product Portfolio 16.1.7.3. Profitability by Market Segments 16.1.7.4. Sales Footprint 16.1.7.5. Strategy Overview 16.1.7.5.1. Marketing Strategy 16.1.7.5.2. Product Strategy 16.1.7.5.3. Channel Strategy 16.1.8. Bridgelux, Inc. 16.1.8.1. Overview 16.1.8.2. Product Portfolio 16.1.8.3. Profitability by Market Segments 16.1.8.4. Sales Footprint 16.1.8.5. Strategy Overview 16.1.8.5.1. Marketing Strategy 16.1.8.5.2. Product Strategy 16.1.8.5.3. Channel Strategy 16.1.9. Illumitex, Inc. 16.1.9.1. Overview 16.1.9.2. Product Portfolio 16.1.9.3. Profitability by Market Segments 16.1.9.4. Sales Footprint 16.1.9.5. Strategy Overview 16.1.9.5.1. Marketing Strategy 16.1.9.5.2. Product Strategy 16.1.9.5.3. Channel Strategy 16.1.10. Royal Dutch Shell plc 16.1.10.1. Overview 16.1.10.2. Product Portfolio 16.1.10.3. Profitability by Market Segments 16.1.10.4. Sales Footprint 16.1.10.5. Strategy Overview 16.1.10.5.1. Marketing Strategy 16.1.10.5.2. Product Strategy 16.1.10.5.3. Channel Strategy 16.1.11. Petronas 16.1.11.1. Overview 16.1.11.2. Product Portfolio 16.1.11.3. Profitability by Market Segments 16.1.11.4. Sales Footprint 16.1.11.5. Strategy Overview 16.1.11.5.1. Marketing Strategy 16.1.11.5.2. Product Strategy 16.1.11.5.3. Channel Strategy 17. Assumptions & Acronyms Used 18. Research Methodology
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Table 1: Global Market Value (US$ Million) Forecast by Region, 2017 to 2032 Table 2: Global Market Volume (Units) Forecast by Region, 2017 to 2032 Table 3: Global Market Value (US$ Million) Forecast by Product, 2017 to 2032 Table 4: Global Market Volume (Units) Forecast by Product, 2017 to 2032 Table 5: Global Market Value (US$ Million) Forecast by Installation Type, 2017 to 2032 Table 6: Global Market Volume (Units) Forecast by Installation Type, 2017 to 2032 Table 7: Global Market Value (US$ Million) Forecast by Application, 2017 to 2032 Table 8: Global Market Volume (Units) Forecast by Application, 2017 to 2032 Table 9: North America Market Value (US$ Million) Forecast by Country, 2017 to 2032 Table 10: North America Market Volume (Units) Forecast by Country, 2017 to 2032 Table 11: North America Market Value (US$ Million) Forecast by Product, 2017 to 2032 Table 12: North America Market Volume (Units) Forecast by Product, 2017 to 2032 Table 13: North America Market Value (US$ Million) Forecast by Installation Type, 2017 to 2032 Table 14: North America Market Volume (Units) Forecast by Installation Type, 2017 to 2032 Table 15: North America Market Value (US$ Million) Forecast by Application, 2017 to 2032 Table 16: North America Market Volume (Units) Forecast by Application, 2017 to 2032 Table 17: Latin America Market Value (US$ Million) Forecast by Country, 2017 to 2032 Table 18: Latin America Market Volume (Units) Forecast by Country, 2017 to 2032 Table 19: Latin America Market Value (US$ Million) Forecast by Product, 2017 to 2032 Table 20: Latin America Market Volume (Units) Forecast by Product, 2017 to 2032 Table 21: Latin America Market Value (US$ Million) Forecast by Installation Type, 2017 to 2032 Table 22: Latin America Market Volume (Units) Forecast by Installation Type, 2017 to 2032 Table 23: Latin America Market Value (US$ Million) Forecast by Application, 2017 to 2032 Table 24: Latin America Market Volume (Units) Forecast by Application, 2017 to 2032 Table 25: Europe Market Value (US$ Million) Forecast by Country, 2017 to 2032 Table 26: Europe Market Volume (Units) Forecast by Country, 2017 to 2032 Table 27: Europe Market Value (US$ Million) Forecast by Product, 2017 to 2032 Table 28: Europe Market Volume (Units) Forecast by Product, 2017 to 2032 Table 29: Europe Market Value (US$ Million) Forecast by Installation Type, 2017 to 2032 Table 30: Europe Market Volume (Units) Forecast by Installation Type, 2017 to 2032 Table 31: Europe Market Value (US$ Million) Forecast by Application, 2017 to 2032 Table 32: Europe Market Volume (Units) Forecast by Application, 2017 to 2032 Table 33: Asia Pacific Market Value (US$ Million) Forecast by Country, 2017 to 2032 Table 34: Asia Pacific Market Volume (Units) Forecast by Country, 2017 to 2032 Table 35: Asia Pacific Market Value (US$ Million) Forecast by Product, 2017 to 2032 Table 36: Asia Pacific Market Volume (Units) Forecast by Product, 2017 to 2032 Table 37: Asia Pacific Market Value (US$ Million) Forecast by Installation Type, 2017 to 2032 Table 38: Asia Pacific Market Volume (Units) Forecast by Installation Type, 2017 to 2032 Table 39: Asia Pacific Market Value (US$ Million) Forecast by Application, 2017 to 2032 Table 40: Asia Pacific Market Volume (Units) Forecast by Application, 2017 to 2032 Table 41: Middle East & Africa Market Value (US$ Million) Forecast by Country, 2017 to 2032 Table 42: Middle East & Africa Market Volume (Units) Forecast by Country, 2017 to 2032 Table 43: Middle East & Africa Market Value (US$ Million) Forecast by Product, 2017 to 2032 Table 44: Middle East & Africa Market Volume (Units) Forecast by Product, 2017 to 2032 Table 45: Middle East & Africa Market Value (US$ Million) Forecast by Installation Type, 2017 to 2032 Table 46: Middle East & Africa Market Volume (Units) Forecast by Installation Type, 2017 to 2032 Table 47: Middle East & Africa Market Value (US$ Million) Forecast by Application, 2017 to 2032 Table 48: Middle East & Africa Market Volume (Units) Forecast by Application, 2017 to 2032
Figure 1: Global Market Value (US$ Million) by Product, 2022 to 2032 Figure 2: Global Market Value (US$ Million) by Installation Type, 2022 to 2032 Figure 3: Global Market Value (US$ Million) by Application, 2022 to 2032 Figure 4: Global Market Value (US$ Million) by Region, 2022 to 2032 Figure 5: Global Market Value (US$ Million) Analysis by Region, 2017 to 2032 Figure 6: Global Market Volume (Units) Analysis by Region, 2017 to 2032 Figure 7: Global Market Value Share (%) and BPS Analysis by Region, 2022 to 2032 Figure 8: Global Market Y-o-Y Growth (%) Projections by Region, 2022 to 2032 Figure 9: Global Market Value (US$ Million) Analysis by Product, 2017 to 2032 Figure 10: Global Market Volume (Units) Analysis by Product, 2017 to 2032 Figure 11: Global Market Value Share (%) and BPS Analysis by Product, 2022 to 2032 Figure 12: Global Market Y-o-Y Growth (%) Projections by Product, 2022 to 2032 Figure 13: Global Market Value (US$ Million) Analysis by Installation Type, 2017 to 2032 Figure 14: Global Market Volume (Units) Analysis by Installation Type, 2017 to 2032 Figure 15: Global Market Value Share (%) and BPS Analysis by Installation Type, 2022 to 2032 Figure 16: Global Market Y-o-Y Growth (%) Projections by Installation Type, 2022 to 2032 Figure 17: Global Market Value (US$ Million) Analysis by Application, 2017 to 2032 Figure 18: Global Market Volume (Units) Analysis by Application, 2017 to 2032 Figure 19: Global Market Value Share (%) and BPS Analysis by Application, 2022 to 2032 Figure 20: Global Market Y-o-Y Growth (%) Projections by Application, 2022 to 2032 Figure 21: Global Market Attractiveness by Product, 2022 to 2032 Figure 22: Global Market Attractiveness by Installation Type, 2022 to 2032 Figure 23: Global Market Attractiveness by Application, 2022 to 2032 Figure 24: Global Market Attractiveness by Region, 2022 to 2032 Figure 25: North America Market Value (US$ Million) by Product, 2022 to 2032 Figure 26: North America Market Value (US$ Million) by Installation Type, 2022 to 2032 Figure 27: North America Market Value (US$ Million) by Application, 2022 to 2032 Figure 28: North America Market Value (US$ Million) by Country, 2022 to 2032 Figure 29: North America Market Value (US$ Million) Analysis by Country, 2017 to 2032 Figure 30: North America Market Volume (Units) Analysis by Country, 2017 to 2032 Figure 31: North America Market Value Share (%) and BPS Analysis by Country, 2022 to 2032 Figure 32: North America Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032 Figure 33: North America Market Value (US$ Million) Analysis by Product, 2017 to 2032 Figure 34: North America Market Volume (Units) Analysis by Product, 2017 to 2032 Figure 35: North America Market Value Share (%) and BPS Analysis by Product, 2022 to 2032 Figure 36: North America Market Y-o-Y Growth (%) Projections by Product, 2022 to 2032 Figure 37: North America Market Value (US$ Million) Analysis by Installation Type, 2017 to 2032 Figure 38: North America Market Volume (Units) Analysis by Installation Type, 2017 to 2032 Figure 39: North America Market Value Share (%) and BPS Analysis by Installation Type, 2022 to 2032 Figure 40: North America Market Y-o-Y Growth (%) Projections by Installation Type, 2022 to 2032 Figure 41: North America Market Value (US$ Million) Analysis by Application, 2017 to 2032 Figure 42: North America Market Volume (Units) Analysis by Application, 2017 to 2032 Figure 43: North America Market Value Share (%) and BPS Analysis by Application, 2022 to 2032 Figure 44: North America Market Y-o-Y Growth (%) Projections by Application, 2022 to 2032 Figure 45: North America Market Attractiveness by Product, 2022 to 2032 Figure 46: North America Market Attractiveness by Installation Type, 2022 to 2032 Figure 47: North America Market Attractiveness by Application, 2022 to 2032 Figure 48: North America Market Attractiveness by Country, 2022 to 2032 Figure 49: Latin America Market Value (US$ Million) by Product, 2022 to 2032 Figure 50: Latin America Market Value (US$ Million) by Installation Type, 2022 to 2032 Figure 51: Latin America Market Value (US$ Million) by Application, 2022 to 2032 Figure 52: Latin America Market Value (US$ Million) by Country, 2022 to 2032 Figure 53: Latin America Market Value (US$ Million) Analysis by Country, 2017 to 2032 Figure 54: Latin America Market Volume (Units) Analysis by Country, 2017 to 2032 Figure 55: Latin America Market Value Share (%) and BPS Analysis by Country, 2022 to 2032 Figure 56: Latin America Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032 Figure 57: Latin America Market Value (US$ Million) Analysis by Product, 2017 to 2032 Figure 58: Latin America Market Volume (Units) Analysis by Product, 2017 to 2032 Figure 59: Latin America Market Value Share (%) and BPS Analysis by Product, 2022 to 2032 Figure 60: Latin America Market Y-o-Y Growth (%) Projections by Product, 2022 to 2032 Figure 61: Latin America Market Value (US$ Million) Analysis by Installation Type, 2017 to 2032 Figure 62: Latin America Market Volume (Units) Analysis by Installation Type, 2017 to 2032 Figure 63: Latin America Market Value Share (%) and BPS Analysis by Installation Type, 2022 to 2032 Figure 64: Latin America Market Y-o-Y Growth (%) Projections by Installation Type, 2022 to 2032 Figure 65: Latin America Market Value (US$ Million) Analysis by Application, 2017 to 2032 Figure 66: Latin America Market Volume (Units) Analysis by Application, 2017 to 2032 Figure 67: Latin America Market Value Share (%) and BPS Analysis by Application, 2022 to 2032 Figure 68: Latin America Market Y-o-Y Growth (%) Projections by Application, 2022 to 2032 Figure 69: Latin America Market Attractiveness by Product, 2022 to 2032 Figure 70: Latin America Market Attractiveness by Installation Type, 2022 to 2032 Figure 71: Latin America Market Attractiveness by Application, 2022 to 2032 Figure 72: Latin America Market Attractiveness by Country, 2022 to 2032 Figure 73: Europe Market Value (US$ Million) by Product, 2022 to 2032 Figure 74: Europe Market Value (US$ Million) by Installation Type, 2022 to 2032 Figure 75: Europe Market Value (US$ Million) by Application, 2022 to 2032 Figure 76: Europe Market Value (US$ Million) by Country, 2022 to 2032 Figure 77: Europe Market Value (US$ Million) Analysis by Country, 2017 to 2032 Figure 78: Europe Market Volume (Units) Analysis by Country, 2017 to 2032 Figure 79: Europe Market Value Share (%) and BPS Analysis by Country, 2022 to 2032 Figure 80: Europe Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032 Figure 81: Europe Market Value (US$ Million) Analysis by Product, 2017 to 2032 Figure 82: Europe Market Volume (Units) Analysis by Product, 2017 to 2032 Figure 83: Europe Market Value Share (%) and BPS Analysis by Product, 2022 to 2032 Figure 84: Europe Market Y-o-Y Growth (%) Projections by Product, 2022 to 2032 Figure 85: Europe Market Value (US$ Million) Analysis by Installation Type, 2017 to 2032 Figure 86: Europe Market Volume (Units) Analysis by Installation Type, 2017 to 2032 Figure 87: Europe Market Value Share (%) and BPS Analysis by Installation Type, 2022 to 2032 Figure 88: Europe Market Y-o-Y Growth (%) Projections by Installation Type, 2022 to 2032 Figure 89: Europe Market Value (US$ Million) Analysis by Application, 2017 to 2032 Figure 90: Europe Market Volume (Units) Analysis by Application, 2017 to 2032 Figure 91: Europe Market Value Share (%) and BPS Analysis by Application, 2022 to 2032 Figure 92: Europe Market Y-o-Y Growth (%) Projections by Application, 2022 to 2032 Figure 93: Europe Market Attractiveness by Product, 2022 to 2032 Figure 94: Europe Market Attractiveness by Installation Type, 2022 to 2032 Figure 95: Europe Market Attractiveness by Application, 2022 to 2032 Figure 96: Europe Market Attractiveness by Country, 2022 to 2032 Figure 97: Asia Pacific Market Value (US$ Million) by Product, 2022 to 2032 Figure 98: Asia Pacific Market Value (US$ Million) by Installation Type, 2022 to 2032 Figure 99: Asia Pacific Market Value (US$ Million) by Application, 2022 to 2032 Figure 100: Asia Pacific Market Value (US$ Million) by Country, 2022 to 2032 Figure 101: Asia Pacific Market Value (US$ Million) Analysis by Country, 2017 to 2032 Figure 102: Asia Pacific Market Volume (Units) Analysis by Country, 2017 to 2032 Figure 103: Asia Pacific Market Value Share (%) and BPS Analysis by Country, 2022 to 2032 Figure 104: Asia Pacific Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032 Figure 105: Asia Pacific Market Value (US$ Million) Analysis by Product, 2017 to 2032 Figure 106: Asia Pacific Market Volume (Units) Analysis by Product, 2017 to 2032 Figure 107: Asia Pacific Market Value Share (%) and BPS Analysis by Product, 2022 to 2032 Figure 108: Asia Pacific Market Y-o-Y Growth (%) Projections by Product, 2022 to 2032 Figure 109: Asia Pacific Market Value (US$ Million) Analysis by Installation Type, 2017 to 2032 Figure 110: Asia Pacific Market Volume (Units) Analysis by Installation Type, 2017 to 2032 Figure 111: Asia Pacific Market Value Share (%) and BPS Analysis by Installation Type, 2022 to 2032 Figure 112: Asia Pacific Market Y-o-Y Growth (%) Projections by Installation Type, 2022 to 2032 Figure 113: Asia Pacific Market Value (US$ Million) Analysis by Application, 2017 to 2032 Figure 114: Asia Pacific Market Volume (Units) Analysis by Application, 2017 to 2032 Figure 115: Asia Pacific Market Value Share (%) and BPS Analysis by Application, 2022 to 2032 Figure 116: Asia Pacific Market Y-o-Y Growth (%) Projections by Application, 2022 to 2032 Figure 117: Asia Pacific Market Attractiveness by Product, 2022 to 2032 Figure 118: Asia Pacific Market Attractiveness by Installation Type, 2022 to 2032 Figure 119: Asia Pacific Market Attractiveness by Application, 2022 to 2032 Figure 120: Asia Pacific Market Attractiveness by Country, 2022 to 2032 Figure 121: Middle East & Africa Market Value (US$ Million) by Product, 2022 to 2032 Figure 122: Middle East & Africa Market Value (US$ Million) by Installation Type, 2022 to 2032 Figure 123: Middle East & Africa Market Value (US$ Million) by Application, 2022 to 2032 Figure 124: Middle East & Africa Market Value (US$ Million) by Country, 2022 to 2032 Figure 125: Middle East & Africa Market Value (US$ Million) Analysis by Country, 2017 to 2032 Figure 126: Middle East & Africa Market Volume (Units) Analysis by Country, 2017 to 2032 Figure 127: Middle East & Africa Market Value Share (%) and BPS Analysis by Country, 2022 to 2032 Figure 128: Middle East & Africa Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032 Figure 129: Middle East & Africa Market Value (US$ Million) Analysis by Product, 2017 to 2032 Figure 130: Middle East & Africa Market Volume (Units) Analysis by Product, 2017 to 2032 Figure 131: Middle East & Africa Market Value Share (%) and BPS Analysis by Product, 2022 to 2032 Figure 132: Middle East & Africa Market Y-o-Y Growth (%) Projections by Product, 2022 to 2032 Figure 133: Middle East & Africa Market Value (US$ Million) Analysis by Installation Type, 2017 to 2032 Figure 134: Middle East & Africa Market Volume (Units) Analysis by Installation Type, 2017 to 2032 Figure 135: Middle East & Africa Market Value Share (%) and BPS Analysis by Installation Type, 2022 to 2032 Figure 136: Middle East & Africa Market Y-o-Y Growth (%) Projections by Installation Type, 2022 to 2032 Figure 137: Middle East & Africa Market Value (US$ Million) Analysis by Application, 2017 to 2032 Figure 138: Middle East & Africa Market Volume (Units) Analysis by Application, 2017 to 2032 Figure 139: Middle East & Africa Market Value Share (%) and BPS Analysis by Application, 2022 to 2032 Figure 140: Middle East & Africa Market Y-o-Y Growth (%) Projections by Application, 2022 to 2032 Figure 141: Middle East & Africa Market Attractiveness by Product, 2022 to 2032 Figure 142: Middle East & Africa Market Attractiveness by Installation Type, 2022 to 2032 Figure 143: Middle East & Africa Market Attractiveness by Application, 2022 to 2032 Figure 144: Middle East & Africa Market Attractiveness by Country, 2022 to 2032
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