Plant lighting has become one of the most popular lighting segments in recent years. Many lighting industry chain enterprises have entered the market. However, after experiencing the rapid growth of the plant lighting market driven by North American cannabis cultivation in 2020, the demand for plant lighting has continued to decline since the second half of 2021 due to the crackdown on illegal cannabis cultivation by shipping and other factors

After experiencing low demand in the second half of 2021, the plant lighting market is gradually picking up. Although the market demand is not as hot as the same period last year, in the first half of this year, industrial chain enterprises still achieved a relatively stable recovery growth in the plant lighting business

From in the first half of the market situation, in the short term, the LED lighting plants mainly demand remains from marijuana planting greenhouses in Europe, and North America market, in addition, announced in June after the legalization of marijuana planting, plant lighting requirements also gradually increased from Thailand In the long run, because of the global population growth under the background of shortage of food supplies

Due to the shortage of land resources and other problems, as well as the continuous optimization of plant lighting technology and cost, the demand for plant lighting in plant factories and greenhouse agriculture will continue to increase. TrendForce Group Group Consulting 2022 Global LED Lighting Market Analysis Report -2H22

It pointed out that despite the slow pace of marijuana legalization in North America and the sharp decline in the Chinese market, the growth rate of the plant lighting market is slowing down. However, due to the rising demand for LED equipment replacement in European greenhouses and the stable price of lighting products, the market size is estimated to be 1.79 billion USD, with an annual growth rate of 6.6%

The market size of LED plant lighting is estimated to be USD 1.79 billion in 2022, with an annual growth of 6.6%

Looking forward to the future, in the context of food security and global climate change, smart agriculture is increasingly put on the agenda by governments, and the legalization of cannabis continues to promote, the future LED plant lighting market demand will maintain a steady growth trend,TrendForce set State consulting estimates that the market size in 2026 is $2.89 billion,2021-2026 composite

Grow at a rate of 11.5%

Although the plant lighting source of short-term and long-term demand is relatively clear, but industry chain enterprises to obtain sustainable development in the field of plant lighting, key factor is whether the plant lighting products can meet the demand of terminal plant, improve the enterprise and the end user's input and output ratio, especially after the stage of high demand, plant lighting area there are more and more players, enterprises need to high quality

Amount of product to increasing competition in the plant to win a place in the market Despite the current market demand is better than the same period in the past year or two, but it didn't lose faith in plant lighting market chain enterprise, is still bullish on the future development of the industry, and are in different ways to find the way of the future development of plant lighting

For example, packaging enterprises continue to enrich product portfolio and improve product performance, and win sales based on product quality to drive power supply and terminal lighting enterprises accelerate industrial layout through product research and development, production capacity construction, application and promotion

As can be seen, the temporary slowdown in market demand has given the plant lighting industry an opportunity to develop in a more mature direction

Industrial chain enterprises in the market calm period more in-depth discussion and research product optimization and effective application, in order to make full preparation before the arrival of greater demand, promote plant lighting products in the future agricultural planting and breeding field to play a more important role