2020 Global LED Growth Light Market

Global LED Growth Light Market

 

 

 

By 2020, the global LED growth lamp market will reach 1.9 billion US dollars, with a compound annual growth rate of more than 25%. The LED growth lamp market is relatively new, technology is constantly evolving, and more efficient products are being introduced. LED life is 10 times longer than ordinary energy-saving lamps and far exceeds that of ordinary incandescent lamps. Although such luminaires are more expensive, they are more efficient because they do not require frequent replacement and also save on electricity costs. LED lamps last up to 11 years, and LEDs generate less heat than other luminaires, thus eliminating the cost of expensive and complicated cooling systems. Cooling systems are required to use other luminaires because the temperature is too high and can damage plant tissue cells.

 

 

 

As LEDs have more advantages, global researchers are focusing on promoting the development of LED growth lamps, and the market will grow further.