Launch new light---LED GROW LIGHT

Rise-Lite mainly supply two design Led Grow light, ECO design and Tri-Fold Design.

Market Synopsis

LED Grow Light Market is expected to grow from USD 621.83 Million in 2018 to USD 2.01 Billion by 2025, at a CAGR of 26.45%, during the forecast period.

LED grow light is an electric lighting device that is designed to stimulate plant growth by emitting a light appropriate for photosynthesis. This device works as an artificial light source that is widely being adopted by agriculturalists to substitute the naturally occurring light. Higher energy efficiency, low heat emission, and no requirement of ballast are among the key benefits of LED grow lights. These lights are widely been adopted for vertical and indoor farming as well as in commercial greenhouses. However, the need for varying light spectrum for different crops and high cost of these lights may limit their adoption in the coming years.

The global LED grow light market has been segmented based on installation type, product, spectrum, application, and region.

By installation type, the market has been segmented into retrofit and new. The retrofit installation segment is expected to dominate the market during the forecast period. Retrofit process involves removing an existing grow light and installing a new one. However, the new installtion segment is expected to register the highest CAGR owing to the rapid growth in the number of indoor vertical farms.

By application, the market has been segmented into indoor farming, greenhouse, vertical farming, turf and landscaping, and others. The vertical farming segment is projected to register the highest CAGR during the forecast period owing to the rise in the trend of controlled environment agriculture in urban areas and the changing outlook of food production. The greenhouse segment is expected to dominate the market during the forecast period.