Led Lamps for Plants Market size was valued at USD 2.5 Billion in 2024 and is forecasted to grow at a CAGR of 9.5% from 2026 to 2033, reaching USD 5.4 Billion by 2033.
The global LED lamps for plants market was valued at approximately USD 1.45 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 22.5% from 2023 to 2030. The increasing adoption of indoor farming and vertical agriculture, along with the growing awareness about energy efficient solutions, are key factors driving the market’s expansion. Among various regions, North America held the largest market share in 2022, with a valuation of around USD 500 million. This dominance is primarily attributed to the rapid adoption of advanced farming technologies and the high penetration of smart gardening solutions across the region. Europe is expected to witness substantial growth during the forecast period, with a CAGR of over 24%, driven by the increasing popularity of urban farming and government initiatives promoting sustainable agriculture practices.
Asia Pacific is anticipated to experience the highest growth rate over the forecast period, with an expected CAGR of 25.2%, driven by the growing number of hydroponic and aquaponic farms in countries like China and India. Additionally, the rise of small scale urban agriculture projects and the growing demand for fresh produce in metropolitan areas contribute to the markets growth. Latin America and the Middle East & Africa regions are also expected to show significant growth potential, with the Latin American market being valued at USD 200 million in 2022. Factors such as the need for sustainable farming practices and favorable climatic conditions for agriculture in these regions are expected to drive demand for LED lamps for plants.
Get | Download Sample Copy with TOC, Graphs & List of Figures @ http://verifiedmarketreports.com/download-sample/?rid=456232&utm_source=Google site_G_April&utm_medium=235
Philips
GE
Osram
Everlight Electronics
Gavita International BV
Senmatic A/S
Heliospectra
LumiGrow
Inc
Illumitex
Sananbio US
Shenzhen Sosen
Shenzhen VANQ Technology
Xiamen Mixin Smart Agri-Tech
Hongli Zhihui Group Co
Acetal Technology
Keisue Technology
Soltech Solutions
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
Get Discount On The Purchase Of This Report @ https://www.verifiedmarketreports.com/ask-for-discount/?rid=456232&utm_source=Google site_G_April&utm_medium=235
Growing demand for below applications around the world has had a direct impact on the growth of the Global Led Lamps for Plants Market
Full Spectrum LED Lamps
Red and Blue LED Lamps
White LED Lamps
UV LED Lamps
Infrared LED Lamps
Low Power LED Lamps
Medium Power LED Lamps
High Power LED Lamps
Under 10W
10W-50W
Above 50W
Indoor Plant Growth
Outdoor Plant Growth
Hydroponics
Aquaponics
Vertical Farming
Bulb Type LED Lamps
Panel Type LED Lamps
Tube Type LED Lamps
Strip Type LED Lamps
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
For More Information or Query, Visit @ https://www.verifiedmarketreports.com/product/led-lamps-for-plants-market/
1. Introduction of the Global Led Lamps for Plants Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Led Lamps for Plants Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Led Lamps for Plants Market, By Type
6. Global Led Lamps for Plants Market, By Application
7. Global Led Lamps for Plants Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Led Lamps for Plants Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
About Us: Verified Market Reports
Verified Market Reports is a leading Research and Consulting firm servicing over 5000+ US clients. We provide advanced analytical research solutions while offering information-enriched research studies. We also offer insights into strategic and growth analyses and data necessary to achieve corporate goals and critical revenue decisions.
Our 250 Analysts and SMEs offer a high level of expertise in data collection and governance using industrial techniques to collect and analyze data on more than 25,000 high-impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise, and years of collective experience to produce informative and accurate research.
Contact us:
Mr. Edwyne Fernandes
US: +1 (650)-781-4080
US Toll-Free: +1 (800)-782-1768
Website: https://www.verifiedmarketreports.com/