Benefited from the promotion of policies of various countries and the mass introduction of LED grow lighting equipment in the North American medical and recreational cannabis cultivation market, the global plant lighting LED market will show explosive growth in 2020, with an output value of US$301 million, an annual increase of 57%.
This wave of growth momentum will also continue into 2021, and it is estimated that this year's output value will reach 399 million US dollars, an annual increase of 33%.
However, it is worth noting that in the third quarter of 2021, red LED chips for plants will be squeezed out by automotive and infrared LED market demand and there will be a shortage, especially in high-end chips.
At the same time, power driver ICs are still out of stock, and the demand for led grow light terminals has been suppressed.
In addition, delays in shipping schedules and North America's crackdown on illegal indoor cannabis growers have also affected the performance of terminal product shipments, causing some LED grow lighting manufacturers to slow down their production plans and material stocking efforts.
However, LED manufacturers remain optimistic about the current market situation. Although changes in the overall environment will have an adverse effect on market demand in the short term, they believe that the situation will be improved by the end of the third quarter.
According to research, LED packaging suppliers for plant lighting include ams-OSRAM, Samsung LED, CREE LED, Seoul Semiconductor, Lumileds, Everlight, LITEON, Tian Lightning; LED chip suppliers for plant lighting include Epistar, San'an, HC Semitek, HPO, Epileds, etc., most of them benefited With regard to plant lighting, the revenues in the first half of this year have all achieved dazzling results.
Looking forward to the future, under the requirements of ensuring food safety, the food supply chain will be shortened through the development of indoor planting agriculture and the investment and construction of vertical farms, and the global plant lighting LED market will continue to rise.
In addition, with the long-term introduction of LED lighting equipment by greenhouse growers, or emerging vertical farm growers, and the trend that the cost of LED lamps is expected to decline, the willingness of more indoor growers to replace traditional products with LED lamps can be further increased. Become an important key to promote the growth of the future plant lighting LED market.
