Agricultural LED Market – Global Industry Analysis and Forecasts 2023-2029

Agricultural LED Market was valued at US$ 3.84 Bn. in 2022. The Global Agricultural LED Market size is estimated to grow at a CAGR of 20.3 % over the forecast period.
Agricultural LED Market Overview:
The report explores the Agricultural LED market's segments (Lighting Type, Cultivation, Offering, Technology, Application, Deployment, and Region). Data has been provided by market participants and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). This market report provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2018 to 2022. The report investigates the Agricultural LED market's drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the Agricultural LED market's contemporary competitive scenario.To know about the Research Methodology:- Request Free Sample Report
Agricultural LED Market Dynamics:
The Agricultural LED is used for the lightening in the indoor application, which acts as artificial light for the crops instead of natural daylight. Agricultural LED supports and improves plant growth by illuminating artificial lightning. It is used for various types of farming, such as Indoor Farming, Vertical farming, and Greenhouses. In the agricultural industry, the use of Agricultural LED is the modern technology for farming as it has low-cost installation and low-cost solutions for customers. Currently, the use of agricultural lightening has increased for the applications like Supplemental lightening, urban farming, and cultivation without the use of daylight. These lights provide the proper light required by the crop with the required safety. The growing awareness about sustainability is accelerating market growth.

The researchers, organizations, and the government are also taking initiatives for the enhancement of agriculture with the enhancing Agricultural LED, which is further driving the market across the globe. The Growth of floriculture is also taking place, which is leading to rising in the use of Agricultural lightening for the cultivation of fruits, vegetables, and floriculture, further impacting the market positively. There is a growth in the agricultural advancement throughout the countries with rapid urbanization and change in the lifestyle with the growth in the agricultural sector. It is expected that the agricultural lightening will expand significantly during the forecast period with an increase in the sophisticated lightening technologies and products on the market. All these factors are expected to spur the Agricultural LED Market.

Evolving Opportunities in the Agriculture LED Market:

The rapid growth in population and the availability of limited land resources, and the rising good yearly dividends are influencing the market growth. The increasing infrastructural investments and the efforts are the primary factors for the agricultural lighting Market growth. There is an increase in the demand for technological advancements related to lightening technological profitability. There is a rise in the promising trend of Farm- the to- table Concept. The Vertical farming technique in the Asian and Middle Eastern economy, year-Round crop production, irrespective of climatic conditions. Also, the emergence of agricultural lightning software and the calculators are further going to expand the market demand of the Agriculture LED Market during the forecast period.

High Installation and Maintenance Cost of Agricultural LED System:

The Agricultural LED supports and improves plant growth by illuminating artificial lightning. It is used for various types of farming, such as Indoor Farming, Vertical farming, and Greenhouses. In the agricultural industry, the use of Agricultural LED is the modern technology for farming, Agricultural LED is further driving the market globally. The growth of floriculture is also taking place, which is leading to rising in the use of Agricultural lightening for the cultivation of fruits, vegetables, and floriculture, further impacting the market positively. The high setup and installation cost of the LED Glow lights are impacting the growth of the agriculture LED market, Also the complex requirements of the Varied Light Spectra of the different crops. There are complexities related to the deployment of the controlled environment agricultural technology in the large-scale cultivation. The lack of proper standard testing practices for evaluating the product quality of the agricultural lighting is restraining the market growth.

Among all the restraints of the Agricultural lightening technologies, the market is the high cost of electricity of the LED grow light technology and the practicality of growing a small section of crop species under the agricultural light conditions. The effective integration of different factors and the technologies used in CEA facilities. The complexities which are associated with the deployment of the controlled environmental conditions require good technical know-how. These factors are forming the major challenges for the growth of the Agriculture LED Market.

Agricultural LED Market Trends:

Global Agricultural LED is used for the lightening in the indoor application, which acts as artificial light for the crops instead of natural daylight. Agricultural LED supports and improves plant growth by illuminating artificial lightning. It is used for various types of farming, such as Indoor Farming, Vertical farming, and Greenhouses. The Expansion of floriculture is also taking place which is leading to rising in the use of Agricultural lightening for the cultivation of fruits, vegetables, and floriculture, further impacting the market positively. The rapid growth in population and the availability of limited land resources, and the rising good yearly dividends are influencing the market growth. There is a growth in the agricultural advancement throughout the countries with rapid urbanization, and change in the lifestyle with the expansion in the agricultural sector. The emergence of agricultural lightning software and the calculators are further going to expand the market demand of the Agriculture LED Market during the forecast period.
Agricultural LED Market Segment Analysis:
Based on Offering, the Agriculture LED Market is segmented into Hardware, Software, and Services. The Hardware segment is dominating the market with the maximum market share accounting for 49.3% in 2022. The hardware segment is considered the primary need for the deployment of agricultural lighting. Hence the Hardware segment holds the maximum market share of the Agriculture LED market.Based on Application, the Agriculture LED Market is segmented into Greenhouses, Vertical Farming, Indoor Farming, and others. The Indoor Farming segment is dominating the market with maximum market shares in the Agriculture LED Market. As Indoor farming is in high demand due to the growth of demand for organic-nutritious food. Moreover, with indoor farming, the food can be grown in large-volume even in small areas, which is necessary for the growing population worldwide. Hence, the Indoor Farming segment is dominating the market with maximum market shares in the Agriculture LED Market.
Agricultural LED Market Regional Insights:
The European region held the largest market share accounting for 56% in 2022. As the growing agricultural demands are further increasing, the demand for indoor farming and vertical farming is further increasing the growth of the Agriculture LED Market, and there is the availability of agricultural lightening products. These factors are increasing the growth of the market.

The Asia Pacific region is expected to witness significant growth at a CAGR of 20.3% through the forecast period. Increasing Modernization and urbanization are leading to technological advancements in agriculture sectors. The increase in the consumption of food by the growing population. Hence the Asia Pacific region is expected to witness significant growth in the Agriculture LED Market.

The objective of the report is to present a comprehensive analysis of the global Agricultural LED Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear, futuristic view of the industry to the decision-makers.

The reports also help in understanding the Agricultural LED Market dynamic and structure by analyzing the market segments and projecting the Agricultural LED Market size. Clear representation of competitive analysis of key players by Design, price, financial position, product portfolio, growth strategies, and regional presence in the Agricultural LED Market make the report investor’s guide.
Agricultural LED Market Scope: Inquire before buying



Global Agricultural LED Market


Base Year
2022
Forecast Period
2023-2029


Historical Data
CAGR
Market Size in 2022
Market Size in 2029


2018 to 2022
20.3%
US$ 3.84 Bn
US$ 14.03 Bn


Segments Covered


by Lighting Type
Toplighting
interlighting
Photoperiodic Lighting
Supplemental Lighting
Sole-Source Lighting
by Cultivation
Fruits
Vegetables
Floriculture
by Technology
High-Intensity Discharge
Fluorescent
Others
by Offering
Hardware
Software
Services
by Application
Greenhouses
Vertical Farming
Indoor Farming
Others


Regions Covered


North America
United States
Canada
Mexico
Europe
UK
France
Germany
Italy
Spain
Sweden
Austria
Rest of Europe
Asia Pacific
China
S Korea
Japan
India
Australia
Indonesia
Malaysia
Vietnam
Taiwan
Bangladesh
Pakistan
Rest of APAC
Middle East and Africa
South Africa
GCC
Egypt
Nigeria
Rest of ME&A
South America
Brazil
Argentina
Rest of South America



Key Players are:
1. Philips
2. Osram
3. General Electric
4. Easy Agricultural
5. Illumitex
6. Fionia Lighting
7. Lumigrow
8. Kind LED Grow Lights
9. California LightWorks
10. Spectrum King Grow Lights
11. Valoya
12. Weshine
13. Apollo Horticulture
14. Kessil
15. Cidly
16. Heliospectra AB
17. LEDHYDROPONICS
18. Ohmax Optoelectronic
19. Zhicheng
20. Noribachi
21. Greengage Lighting Ltd
22. Beba-Lighting UK Limited
23. ONCE，Inc.
Frequently Asked Questions:
1. What segments are covered in the Agriculture LED Market report?
Ans. The segments covered in the Agriculture LED Market report are based on Lightning type, cultivation, technology, offering, application, and deployment.

2. Which region is expected to hold the highest share in the Agriculture LED Market?
Ans. The Europe region is expected to hold the highest share in the Agriculture LED Market.

3. What is the market size of the Agriculture LED Market by 2029?
Ans. The market size of the Agriculture LED Market by 2029 is US$ 14.03 Bn.

4. What is the forecast period for the Agriculture LED Market?
Ans. The Forecast period for the Agriculture LED Market is 2023-2029.

5. What was the market size of the Agriculture LED Market in 2022?
Ans. The market size of the Agriculture LED Market in 2022 was US$ 3.84 Bn.