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All of horiticultural LED suppliers in the world are expected to see LED revenue US $158 million in 2020

horicultural led lights are used in agricultural plant
Horticultural LED light has matured into a fast-growing market in the year 2020 because of legalizaion of marijuana cultivation and the pandemic-induced surge of recreational and medical marijuana markets in North America. Besides, the current covid-19 pandemic has begun to influence the food supply chain, the rising requirement for equipment replacement and procurement results in upward capital expensiture for indoor agricultural infrastructure construction. The total horicultural LED revenue is anticipated to reach US $158 million in 2020, a 39.7% increase YoY.

The players in the line of indoor agriculture must face two challenging issues in terms of increasing crop yield and decreasing lighting equipment cost. Different companies in the LED supply chain are required to cooperate in continually refreshing horticultural LED solutions in order to satisfy the market demand finally. Nowadays, famous horticultural LED suppliers cover Signify, Fluence by OSRAM, GE Current, Illumitex, Heliospectra, and Sananbio, all of which boast of their equipment efficiency and reliablity.

The photosynthetic photon efficiency (PPE, measured in ┬Ámol/J) of horticultural LED, along with the specific light spectrum required for plant growth, play an important role in improving agricultural production capacity. Major suppliers of horticultural LED components include OSRAM, Samsung LED, CREE, Seoul Semiconductor, Lumileds, Nichia, and Everlight, and each of these suppliers holds a differentiating competitive advantage. In particular, OSRAM and Samsung LED take a lead over their competitors in this industry.

Facing the requirement for food safety, the food supply chain will be shortened step by by by the rise of urban indoor agriculture and investments in plant factories.Also, the current nontraditional agrucultural projects shows the capital expenditure for agricultural technologies keeps incrasing greatly year by year in Europe, the U.S., and Japan. As lighting equipment is a necessity in plant factories, many LED suppliers are expected to see double-digit YoY growths in their horticultural LED revenue in the next year 2021.

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