Techno World LED-Lighting-Horticulture-Market | Page 2

applications owing to the related power savings, optimum plant light outputs and considerably
longer lifecycles up to 5X the conventional products. These factors are expected to provide major
traction to the LED Lighting Horticulture market during the next few years.
Moreover, rather than increasingly focusing on the commercial sales of the products, major
industry participants that include Philips Lighting and Osram Sylvania are increasingly focusing
on awareness through investing in trial projects. For instance, Philips has already made
significant investments in Europe, Americas and Asia Pacific for several such projects to gain
higher consumer inclinations. Moreover, offering products with 3 to 5 years warranty is expected
to
garner
higher
consumer
inclinations
over
the
long
run.
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Low light intensity is the major drawback that will restrain the growth of LED lighting horticulture
market
Conventional alternatives that includes specifically includes HPS are associated with additional
costs owing to their short lifecycles, requirement to alter the lights almost every year and high
labor costs. However, these are expected to remain in the industry for long owing to their high
intensity and low light degradation that is 1% every thousand hours of utilization. However, long
term warranties of the LED counterparts only ensures only 70% of the initial lumen output over
its lifecycle. This is expected to remain as the major restraining factor for the industry over the
forecast period. Moreover, low overall initial outputs also require the plants to be located in the
close proximity. This in turn can lead to blocking of the naturally available sunlight, which may
lead to 24 hours requirement of these lights. This may hamper the overall yield up to 30% which
is not ideal for growers who want to maintain the annual yield which may in turn lead to
decreased consumer inclinations.
These factors are anticipated to be most likely be dealt with the utilization of increased intensity
with certain product developments over the next few years. Moreover, aforementioned benefits
outweigh these drawbacks and LED lighting horticulture market is expected to gain highest
traction over the coming years.
U.S. is expected to remain the most lucrative regional business segment owing to the
unfavorable climatic conditions for conventional agriculture methodology
U.S has legalized the cultivation of marijuana in locations away from public spaces, along with
certain other countries in the Americas. In conjunction with this demands for high nutrition foods,
will drive the requirement for vegetable and fruits over the next few years. Owing to unfavorable
weather conditions, requirements to meet these demands, construction of commercial