Analysis of China's LED plant growth light industry chain

The LED plant growth light industry chain is relatively mature, and downstream market applications are cutting-edge.

From the perspective of the industrial chain, the upstream of the plant growth lamp industry chain includes lamp materials, equipment and manpower. Lamp materials include lamp structural parts and electronic components; downstream of plant growth lamps, plant growth lamps are usually used in greenhouses, vertical agriculture, Plant factory and home gardening. At present, high value-added agricultural products such as vegetables, fruits and flowers in developed countries are mainly grown in greenhouses, using artificial light sources to control the light environment. In addition, plant growth lights are also used in laboratory research and other fields.

Vertical agriculture and plant factories are promising downstream application areas for plant growth lights. Data show that China's vertical agriculture market size will be approximately 13.17 billion yuan in 2022 and is expected to reach 17.81 billion yuan in 2023. Plant factories are generally divided into five levels: sprout plant factory → mushroom and medicinal fungus plant factory → leaf vegetable plant factory → berry and flower plant factory → traditional Chinese medicine plant factory. At present, my country's plant factories are generally at the third and fourth levels. There are "plant factories" in Beijing, Shandong, Jiangsu, Fujian and other places carrying out production and research and development. Planting varieties include lettuce, tomatoes, rapeseed, grapes, okra, peppers, etc. varieties, as well as some high-end flower seedlings. According to statistics, the number of plant factories in my country will reach 272 in 2021, with 48 new ones and an area of 215,400 square meters. The development speed of domestic plant factories has become the fastest in the global market, and the market is expected to continue to grow rapidly in the future.

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