Industry News

The largest plant grow lighting markets

Author : Crownda.LED

Update time : 2021-08-20 10:01:15

The largest plant grow lighting markets and penetration rate of smart street lights

Globally, Americas and EMEA are the areas with the largest demand for plant lighting, and they are expected to account for 81% in 2021.

Americas: During the epidemic, North America has accelerated the process of lifting the ban on cannabis, which has played a significant role in promoting the demand for growing lighting. The Americas will continue to maintain a rapid growth trend in the next few years.

EMEA: The Netherlands, the United Kingdom and other European countries actively advocate the establishment of plant factories and propose relevant subsidy policies to boost the willingness of agricultural growers. They have built plant factories in Europe to increase the demand for plant growing lighs. In addition, the Middle East region represented by Israel and Turkey, and the African region represented by South Africa, have been increasing their own agricultural output due to intensified climate change factors, and are gradually increasing investment in facility agriculture.

APAC: In response to COVID-19 and the needs of the localized agricultural market, Japanese plant factories have received renewed attention, developing high-value crops such as leafy vegetables, strawberries, and grapes. Plant growing lamps in China and South Korea continues to shift to the cultivation of high-economic crops such as Chinese medicinal materials and ginseng to improve the economic benefits of products.

The penetration rate of smart street lights continues to increase

In order to alleviate economic difficulties, governments of various countries have increased infrastructure construction, including North America and China. Roads are a major item of social infrastructure investment expenditure. In addition, as the penetration rate of smart street lamps increases and the price rises, it is estimated that wisdom will be in 2021. The size of the street LED lamp market is growing by 18% annually, and the compound growth rate (CAGR) for 2020-2025 will be 14.7%, which is higher than the overall general lighting average.

Finally, from the perspective of the revenue of LED lighting manufacturers, although the current COVID-19 still brings many uncertainties to the global economic development, it is still in danger. Many lamping manufacturers are gradually adopting "lighting LED products" + "digital system" professional LED lighting. The solution provides a healthier, smarter and convenient lighting experience, and continues to bring stable growth momentum to the revenue growth of lighting luminaires manufacturers. It is expected that the revenue of lighting fixtures manufacturers will show a 5-10% annual growth in 2021.

Previous : Development direction of photovoltaic street lights

Next : 2021-2022 Global LED Lighting Market Outlook: General Lighting, Plant Lighting, Smart Lighting

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