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Agricultural LED Market Expected to Experience Attractive Growt

  • Jan 07th, 2021/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Agricultural LED Market.

    The Agricultural LED Market is estimated to grow from USD 16.9 billion in 2020 to USD 43.0 billion by 2026 at a healthy CAGR of 17.1% during the forecast period.

    Agricultural LED technology helps in extending the hours of the natural daylight, which further increases the growth rate, health, and yield of the plants. Plasma lighting and LED lighting can further extend the life-cycle of crops throughout a season.

    For a more detailed breakdown of the COVID-19 impact on the Agricultural LED Market, request a free sample of the report here:

    https://www.stratviewresearch.com/Request-Sample/2100/Agricultural-LED-Market.html#form

    Segment Analysis:

    Agricultural LED Market Share: By Product Trends

    Based on product, the Agricultural LED market is classified into 0-30w LED, 30-100w LED, >100w LED. The 0-30w LED segment held a significant market share in 2020 and is estimated to register a healthy CAGR during the forecast timeline. This is mainly attributed to technological developments in energy conservation and efficiency. The agricultural LEDs with low power are more efficient when compared to high power lighting solutions, thereby bolstering the segment growth. 

    Agricultural LED Market Share: By Region

    By region, the European market accounted for a significant share in 2020 and is expected to grow at a substantial CAGR in the following years. This is mainly ascribed to increasing awareness regarding the importance of alternative farming, owing to the less availability of fertile agricultural land and increasing population, coupled with high adoption of urban agriculture, which further proliferates the regional market growth.

    COVID-19 Impact on Global Agricultural LED Market

    The COVID-19 outbreak has moderately affected the agricultural LED industry. The pandemic has turned the lives of people worldwide, with the number of cases increasing rapidly. The pandemic resulted in supply chain disruption and the electronic sector witnessed a halt in operations. Although, the agricultural sector was less affected and there was a strong need for agricultural LED lights for ensuring a high yield of crops to cater to the increasing population, thus driving the product demand.

    Key Players:

    Key players operating in the Agricultural LED market are-

    • Philips (Netherlands)
    • Osram (Germany)
    • General Electric (US)
    • Easy Agricultural (US)
    • Illumitex (US)
    • Fionia Lighting (Denmark)
    • Lumigrow (US)
    • Kind LED (US)
    • Grow Lights (US)
    • California LightWorks (US)

    Browse detailed report with COVID-19 impact analysis on the Agricultural LED Market here:

    https://bit.ly/3sEKqz0

    Features of the Report:

    This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

    The Agricultural LED Market analysis report discusses the following heads in great detail:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis
    • COVID-19 Impact Assessment
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
    • Market trend and forecast analysis
    • Market segment trend and forecast
    • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities
    • Emerging trends
    • Strategic growth opportunities for the existing and new players
    • Key success factors.

    Know more about Stratview Research:

    Stratview Research is a global market research company and is known to offer custom research reports in varied fields such as aerospace & Defense, Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas. Our team makes sure to have deep research about the topics so that the most useful insights can be delivered to the professionals.

    Need a detailed report? Get in touch with us: 

    Stratview Research

    E-mail: sales@stratviewresearch.com

    Direct: +1-313-307-4176