"The Report Global LED
Lighting Market for Horticulture Application 2016-2020 provides
information on pricing, market analysis, shares, forecast, and
company profiles for key industry participants. -
MarketResearchReports.biz"
MarketResearchReports.biz has
announced the addition of a new market study to its repository,
titled “Global
LED Lighting Market For Horticulture Application 2016-2020.”
The study is a complete analysis of the growth drivers, market
challenges, trends presently impacting the industry, and future
opportunities in LED lighting market for horticulture application.
The report studies the market in detail by segmenting it on the basis
of key criteria. It then gives information such as leading and
declining segments, and also attributes the reasons behind a
segment’s respective status. The degree of competition, threat of
substitutes, and buyer and supplier bargaining power as well as the
threat of new entrants have been analyzed. As such, the report proves
to be ideal for investors who wish to make investments and earn
profits in the global LED lighting industry for horticulture
application.
As per the report, the global
LED lighting market for horticulture application will expand at a
stupendous CAGR of 22% between 2016 and 2020. The increase in the
consumption of electricity and the high electricity prices are
expected to be the main reasons behind this healthy growth of the
market. The high cost of electricity is pushing more and more
consumers to adopt LED lighting market for horticulture application.
In addition to this, factors such as growth in population, and thus a
rise in energy consumption, and industrialization have created a high
demand for electricity all across the world. This environment is
proving to be more than favorable for the global LED lighting market
for horticulture application.
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The high cost of raw materials
used by power distribution and generation companies is compelling
utility companies to increase the price of electricity. This
increasing cost of electricity is pushing governments and consumers
across the globe to adopt power saving technologies, thus driving the
demand for LED lighting. High demand for LED lighting is especially
expected from marijuana growers.
Concerns such as global warming
and depletion of non-renewable power sources are pushing countries
across the globe to focus on energy saving technology. As a result of
this, many countries have already banned the use of incandescent
bulbs and halogen lamps, that are energy wise inefficient.
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No specific player in the
global LED lighting market for horticulture application holds major
shares as the market has many small and regional suppliers. These
small players have occupied significant positions in their regions.
As per the study, competition among vendors is of a moderate level.
To increase market shares, companies must invest in patent
acquisitions and expand their geographical presence. Some of the
companies mentioned in the report include: Cree, Heliospectra,
Fluence Bioengineering, OSRAM SYLVANIA, Hubbell Lighting, Kessil
Lighting, Illumitex, LumiGrow, Lemnis Oreon, and Smart Grow
Technologies.
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