According to IMARC Group’s latest report, titled “Europe Grow Light Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the Europe LED lighting market reached a value of US$ 16.7 Billion in 2020. Grow lights are artificial sources of light that promote photosynthesis and stimulate plant growth. They are commonly available in light-emitting diodes (LED), fluorescent, high-pressure sodium (HPS) and high-intensity discharge (HID) variants. They are widely used for plant propagation, providing optimal light and temperature to the plants and controlling various elements, such as intensity and color. Grow lights provide faster harvest cycles, enhanced proximity, minimal heat emissions and an accurate spectrum of light. They are extensively utilized for the cultivation of aquatic plants, horticulture, food production and home gardening.
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We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
The Europe grow light market is primarily being driven by the widespread adoption of indoor farming practices. Grow lights assist in protecting the plants and maintaining an adequate amount of light. Moreover, various technological advancements, such as the integration of the Internet of Things (IoT) with grow lights, are providing a thrust to the market growth. These innovations offer increased remote access capabilities, seamless communication and convenient accessibility. Other factors, including the rising demand for plant-based food products and the enhanced focus of the consumers on sustainable development, are anticipated to drive the market toward growth across the region. Looking forward, IMARC Group expects the Europe LED lighting market to exhibit strong growth during 2021-2026
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape:
- Cree Inc.
- Dialight PLC
- Eaton Corporation Inc.
- Cooper Industries LLC
- Osram Licht AG
- Panasonic Corporation
- Seoul Semiconductor Co., Ltd.
- Signify N.V.
- Philips Inc.
- TRILUX GmbH & Co. KG
- Zumtobel Group AG
Market Segmentation:
Market Breakup by Country
- Germany
- United Kingdom
- France
- Italy
- Spain
- Others
Market Breakup by Product Type
- LED Lamps and Modules
- LED Fixtures
Market Breakup by Application
- Retrofit
- Retail and Hospitality
- Outdoor
- Offices
- Architectural
- Residential
- Others
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Market Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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