LED Grow Light Market by Wattage, Type of Installation (New,
Retrofit), Spectrum (Partial, Full), Application (Indoor Farming, Commercial Greenhouse, Vertical Farming, Turf & Landscaping, Research, and Others), and Geography - Forecast to 2020

Table of Contents

1 INTRODUCTION 12

1.1 OBJECTIVES OF THE STUDY 12
1.2 MARKET DEFINITION 12
1.3 STUDY SCOPE 13
1.3.1 MARKETS COVERED 13
1.3.2 GEOGRAPHIC SCOPE 13
1.3.3 YEARS CONSIDERED FOR THE STUDY 14
1.4 CURRENCY 14
1.5 LIMITATIONS 14
1.6 STAKEHOLDERS 14

2 RESEARCH METHODOLOGY 15

2.1 RESEARCH DATA 15
2.1.1 SECONDARY DATA 16
2.1.1.1 Key data from secondary sources 16
2.1.2 PRIMARY DATA 17
2.1.2.1 Key data from primary sources 17
2.1.2.2 Key industry insights 18
2.1.2.3 Breakdown of primaries 18
2.2 MARKET SIZE ESTIMATION 19
2.2.1 BOTTOM-UP APPROACH 19
2.2.2 TOP-DOWN APPROACH 20
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 21
2.4 RESEARCH ASSUMPTIONS AND LIMITATIONS 22
2.4.1 ASSUMPTIONS 22
2.4.2 LIMITATIONS 22

3 EXECUTIVE SUMMARY 23
4 PREMIUM INSIGHTS 27

4.1 ATTRACTIVE GROWTH OPPORTUNITIES IN THE LED GROW LIGHT MARKET 27
4.2 LED GROW LIGHT MARKET, BY APPLICATION 27
4.3 LED GROW LIGHT MARKET IN THE ASIA-PACIFIC REGION, 2014 28
4.4 U.S. COMMANDED LEADING MARKET SHARE IN THE LED GROW LIGHT MARKET IN 2014 28
4.5 VERTICAL FARMING IS EXPECTED TO BE THE FASTEST GROWING APPLICATION FOR LED GROW LIGHT DURING 2015–2020 29
 

5 MARKET OVERVIEW 30

5.1 INTRODUCTION 31
5.2 EVOLUTION OF LED GROW LIGHTS 31
5.3 MARKET SEGMENTATION 32
5.4 MARKET DYNAMICS 34
5.4.1 DRIVERS 35
5.4.1.1 Rising trend of indoor farming would boost the adoption of LED grow lights 35
5.4.1.2 Government regulations favoring growth of LED technology 35
5.4.1.3 Need for energy-efficient and long-lasting lighting technology 35
5.4.2 RESTRAINTS 36
5.4.2.1 Purchasing of good quality LED grow lights can be very costly for growers 36
5.4.3 OPPORTUNITIES 37
5.4.3.1 Retrofitting of conventional lighting technologies with LED grow lights 37
5.4.3.2 Emergence of vertical farms in urban areas 37
5.4.4 CHALLENGES 38
5.4.4.1 Absence of standard testing practices for assessing the quality of LED products 38

6 INDUSTRY TRENDS 39

6.1 VALUE CHAIN 39
6.2 STRATEGIC BENCHMARKING 40
6.2.1 CONTRACTS, AGREEMENTS, AND PRODUCT INNOVATIONS 40
6.3 PORTER’S FIVE FORCES ANALYSIS 41
6.3.1 THREAT OF NEW ENTRANTS 43
6.3.2 THREAT OF SUBSTITUTES 44
6.3.3 BARGAINING POWER OF SUPPLIERS 44
6.3.4 BARGAINING POWER OF BUYERS 45
6.3.5 INTENSITY OF RIVALRY 46

7 LED GROW LIGHT MARKET, BY PRODUCT 47

7.1 INTRODUCTION 48
7.2 <300 WATT 49
7.3 >300 WATT 49

8 LED GROW LIGHT MARKET, BY INSTALLATION TYPE 50

8.1 INTRODUCTION 51
8.2 NEW INSTALLATION 52
8.3 RETROFIT 52
 

9 LED GROW LIGHT MARKET, BY SPECTRUM 53

9.1 INTRODUCTION 54
9.2 PARTIAL SPECTRUM 54
9.3 FULL SPECTRUM 54

10 LED GROW LIGHT MARKET, BY APPLICATION 55

10.1 INTRODUCTION 56
10.2 INDOOR FARMING 57
10.3 COMMERCIAL GREENHOUSE 59
10.4 VERTICAL FARMING 61
10.5 TURF AND LANDSCAPING 62
10.6 RESEARCH 64
10.7 OTHERS 66

11 LED GROW LIGHT MARKET, BY GEOGRAPHY 68

11.1 INTRODUCTION 69
11.2 NORTH AMERICA 70
11.3 EUROPE 72
11.4 APAC 74
11.5 ROW 76

12 COMPETITIVE LANDSCAPE 78

12.1 OVERVIEW 78
12.2 MARKET RANKING ANALYSIS 79
12.2.1 MARKET RANKING ANALYSIS FOR LED GROW LIGHT MARKET, 2014 79
12.3 COMPETITIVE SITUATION AND TRENDS 80
12.3.1 NEW PRODUCT LAUNCHES 80
12.3.2 AGREEMENTS, PARTNERSHIPS, COLLABORATIONS, AND JOINT VENTURES 81
12.3.3 OTHER DEVELOPMENTS 81

13 COMPANY PROFILES 82

13.1 INTRODUCTION 82
(Overview, Financials, Products & Services, Strategy, and Developments)*
13.2 ROYAL PHILIPS ELECTRONICS N.V. 83
13.3 LUMIGROW, INC. 86
13.4 OSRAM LICHT AG 88
13.5 HELIOSPECTRA AB 91
13.6 GENERAL ELECTRIC COMPANY 93
13.7 CREE, INC. 96
13.8 EVERLIGHT ELECTRONICS CO. LTD. 98
13.9 ALTA LED CORPORATION 100
13.10 BRIDGELUX, INC. 101
13.11 ILLUMITEX, INC. 102
*Details on overview, financials, product & services, strategy, and developments might not be captured in case of unlisted companies.

14 APPENDIX 103

14.1 INSIGHTS OF INDUSTRY EXPERTS 103
14.2 DISCUSSION GUIDE 104
14.3 INTRODUCING RT: REAL-TIME MARKET INTELLIGENCE 107
14.4 AVAILABLE CUSTOMIZATIONS 108
14.5 RELATED REPORTS 109

LIST OF TABLES

TABLE 1 DRIVERS: IMPACT ANALYSIS 36
TABLE 2 RESTRAINTS: IMPACT ANALYSIS 37
TABLE 3 OPPORTUNITIES: IMPACT ANALYSIS 38
TABLE 4 CHALLENGES: IMPACT ANALYSIS 38
TABLE 5 LED GROW LIGHT MARKET SIZE, BY PRODUCT, 2014–2020 (USD MILLION) 48
TABLE 6 LED GROW LIGHTING MARKET SIZE, BY TYPE OF INSTALLATION,
2014–2020 (USD MILLION) 51
TABLE 7 LED GROW LIGHT MARKET SIZE, BY SPECTRUM, 2014–2020 (USD MILLION) 54
TABLE 8 LED GROW LIGHT MARKET SIZE, BY APPLICATION, 2014–2020 (USD MILLION) 56
TABLE 9 INDOOR FARMING MARKET SIZE, BY WATT, 2014–2020 (USD MILLION)) 57
TABLE 10 INDOOR FARMING MARKET SIZE, BY SPECTRUM, 2014–2020 (USD MILLION) 58
TABLE 11 INDOOR FARMING MARKET SIZE, BY GEOGRAPHY, 2014–2020 (USD MILLION) 58
TABLE 12 COMMERCIAL GREENHOUSE MARKET SIZE, BY WATT, 2014–2020 (USD MILLION) 59
TABLE 13 COMMERCIAL GREENHOUSE MARKET SIZE, BY SPECTRUM,
2014–2020 (USD MILLION) 59
TABLE 14 COMMERCIAL GREENHOUSE MARKET SIZE, BY GEOGRAPHY,
2014–2020 (USD MILLION) 60
TABLE 15 VERTICAL FARMING MARKET SIZE, BY WATT, 2014–2020 (USD MILLION) 61
TABLE 16 VERTICAL FARMING MARKET SIZE, BY SPECTRUM, 2014–2020 (USD MILLION) 61
TABLE 17 VERTICAL FARMING MARKET SIZE, BY GEOGRAPHY, 2014–2020 (USD MILLION) 62
TABLE 18 TURF & LANDSCAPING MARKET SIZE, BY WATT, 2014–2020 (USD MILLION) 62
TABLE 19 TURF & LANDSCAPING MARKET SIZE, BY SPECTRUM, 2014–2020 (USD MILLION) 63
TABLE 20 TURF & LANDSCAPING MARKET SIZE, BY GEOGRAPHY, 2014–2020 (USD MILLION) 63
TABLE 21 RESEARCH MARKET SIZE, BY WATT, 2014–2020 (USD MILLION) 64
TABLE 22 RESEARCH MARKET SIZE, BY SPECTRUM, 2014–2020 (USD MILLION) 65
TABLE 23 RESEARCH MARKET SIZE, BY GEOGRAPHY, 2014–2020 (USD MILLION) 65
TABLE 24 OTHERS MARKET SIZE, BY WATT, 2014–2020 (USD MILLION) 66
TABLE 25 OTHER APPLICATION MARKET SIZE, BY SPECTRUM, 2014–2020 (USD MILLION) 66
TABLE 26 OTHER APPLICATION MARKET SIZE, BY GEOGRAPHY, 2014–2020 (USD MILLION) 66
TABLE 27 LED GROW LIGHT MARKET, BY GEOGRAPHY, 2014–2020 (USD MILLION) 69
TABLE 28 NORTH AMERICA: LED GROW LIGHTING MARKET SIZE, BY APPLICATION,
2014–2020 (USD MILLION) 70
TABLE 29 NORTH AMERICA: LED GROW LIGHTING MARKET SIZE, BY COUNTRY,
2014–2020 (USD MILLION) 71
TABLE 30 EUROPE: LED GROW LIGHTING MARKET SIZE, BY APPLICATION,
2014–2020 (USD MILLION) 73
TABLE 31 EUROPE: LED GROW LIGHTING MARKET SIZE, BY COUNTRY,
2014–2020 (USD MILLION) 73
TABLE 32 APAC: LED GROW LIGHTING MARKET SIZE, BY APPLICATION,
2014–2020 (USD MILLION) 75
TABLE 33 APAC: LED GROW LIGHTING MARKET SIZE, BY COUNTRY,
2014–2020 (USD MILLION) 75
TABLE 34 ROW: LED GROW LIGHTING MARKET SIZE, BY APPLICATION,
2014–2020 (USD MILLION) 76
TABLE 35 ROW: LED GROW LIGHTING MARKET SIZE, BY COUNTRY,
2014–2020 (USD MILLION) 76
TABLE 36 NEW PRODUCT LAUNCHES, 2014–2015 80
TABLE 37 AGREEMENTS, PARTNERSHIPS, COLLABORATIONS, AND JOINT VENTURES,
2014–2015 81
TABLE 38 OTHER DEVELOPMENTS, 2014–2015 81

LIST OF FIGURES

FIGURE 1 RESEARCH DESIGN 15
FIGURE 2 MARKET SIZE ESTIMATION METH0DOLOGY: BOTTOM-UP APPROACH 19
FIGURE 3 MARKET SIZE ESTIMATION METH0DOLOGY: TOP-DOWN APPROACH 20
FIGURE 4 DATA TRIANGULATION 21
FIGURE 5 ASSUMPTIONS OF THE RESEARCH STUDY 22
FIGURE 6 LIMITATIONS OF THE RESEARCH STUDY 22
FIGURE 7 LED GROW LIGHT MARKET SNAPSHOT (2015 VS. 2020): COMMERCIAL GREENHOUSE IS EXPECTED TO HAVE THE LARGEST MARKET SIZE DURING THE FORECAST PERIOD 24
FIGURE 8 GLOBAL LED GROW LIGHT MARKET, BY APPLICATION, 2014 24
FIGURE 9 LED GROW LIGHT MARKET, BY SPECTRUM, 2015 VS. 2020 25
FIGURE 10 GLOBAL LED GROW LIGHT MARKET SHARE, BY REGION, 2014 25
FIGURE 11 LED GROW LIGHT MARKET IS EXPECTED TO RISE WITH A VERY HIGH ADOPTION RATE DURING THE FORECAST PERIOD 27
FIGURE 12 COMMERCIAL GREENHOUSES ARE EXPECTED TO BE THE LARGEST ADOPTERS OF LED GROW LIGHT TECHNOLOGY DURING 2015–2020 27
FIGURE 13 JAPAN WAS ONE OF THE FIRST ADOPTERS OF LED GROW LIGHT TECHNOLOGY IN ASIA-PACIFIC WITH 33% MARKET SHARE IN 2014 28
FIGURE 14 U.S AND GERMANY WERE THE LEADING MARKETS FOR LED GROW LIGHTS
IN 2014 28
FIGURE 15 LED GROW LIGHT MARKET IS EXPECTED TO SEE THE FASTEST ADOPTION IN THE VERTICAL FARMING APPLICATION DURING THE FORECAST PERIOD 29
FIGURE 16 EVOLUTION OF LIGHTING TECHNOLOGIES 32
FIGURE 17 LED GROW LIGHT MARKET, BY POWER OUTPUT 32
FIGURE 18 LED GROW LIGHT MARKET, BY SPECTRUM 33
FIGURE 19 LED GROW LIGHT MARKET, BY TYPE OF INSTALLATION 33
FIGURE 20 LED GROW LIGHT MARKET, BY APPLICATION 34
FIGURE 21 INDOOR FARMING AND GOVERNMENT REGULATIONS TO DRIVE THE MARKET FOR LED GROW LIGHTS DURING THE FORECAST PERIOD 34
FIGURE 22 LED GROW LIGHT MARKET: VALUE CHAIN ANALYSIS 39
FIGURE 23 STRATEGIC BENCHMARKING: MAJOR COMPANIES ARE FOCUSING ON CONTRACTUAL AGREEMENTS AS GROWTH STRATEGY 41
FIGURE 24 PORTER’S FIVE FORCES ANALYSIS FOR LED GROW LIGHT MARKET 42
FIGURE 25 PORTER’S FIVE FORCES: IMPACT ANALYSIS 42
FIGURE 26 THEAT OF NEW ENTRANTS 43
FIGURE 27 THREAT OF SUBSTITUTES 44
FIGURE 28 BARGAINING POWER OF SUPPLIERS 44
FIGURE 29 BARGAINING POWER OF BUYERS 45
FIGURE 30 INTENSITY OF RIVALRY 46
FIGURE 31 MARKET FOR >300WATT LED PANELS HELD THE LARGEST MARKET SHARE
IN 2014 48
FIGURE 32 NEW INSTALLATION MARKET HELD THE LARGEST MARKET SHARE IN 2014 51
FIGURE 33 VERTICAL FARMING IS EXPECTED TO GROW AT THE HIGHEST CAGR AMONG ALL APPLICATIONS FROM 2015 TO 2020 56
FIGURE 34 APAC MARKET IS EXPECTED TO GROW AT THE HIGHEST CAGR FROM
2015 TO 2020 60
FIGURE 35 HIGH WATT LED PANELS HOLDS LARGEST MARKET SHARE IN 2014 64
FIGURE 36 LED GROW LIGHT MARKET, GEOGRAPHIC SNAPSHOT, 2015–2020 69
FIGURE 37 EUROPE GEOGRAPHIC SNAPSHOT, 2014 72
FIGURE 38 APAC GEOGRAPHIC SNAPSHOT, 2014 74
FIGURE 39 COMPANIES ADOPTED AGREEMENT, PARTNERSHIP, AND JOINT VENTURE AS THE KEY GROWTH STRATEGY FROM 2013-2015 78
FIGURE 40 BATTLE FOR MARKET SHARE: AGREEMENT, PARTNERSHIP, AND COLLABORATION WAS THE KEY STRATEGY 80
FIGURE 41 GEOGRAPHIC REVENUE MIX OF MAJOR COMPANIES 82
FIGURE 42 ROYAL PHILIPS ELECTRONICS N.V.: COMPANY SNAPSHOT 83
FIGURE 43 ROYAL PHILIPS ELECTRONICS N.V.: SWOT ANALYSIS 85
FIGURE 44 LUMIGROW, INC.: SWOT ANALYSIS 87
FIGURE 45 OSRAM LICHT AG: COMPANY SNAPSHOT 88
FIGURE 46 OSRAM LICHT AG: SWOT ANALYSIS 90
FIGURE 47 HELIOSPECTRA AB: SWOT ANALYSIS 92
FIGURE 48 GENERAL ELECTRIC COMPANY: COMPANY SNAPSHOT 93
FIGURE 49 GENERAL ELECTRIC COMPANY: SWOT ANALYSIS 95
FIGURE 50 CREE, INC.: COMPANY SNAPSHOT 96
FIGURE 51 EVERLIGHT ELECTRONICS CO. LTD.: COMPANY SNAPSHOT 98

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