The LED plant lighting market is recovering, and Taiwanese manufacturers such as Everlight are accelerating their layout

As the demand for global greenhouses and vertical farms recovers, the LED plant lighting market has recovered significantly, and the LED supply chain in Taiwan has brought new growth momentum. LED company Fucai Investment Holdings regards plant lighting as a key project, and its subsidiary Epistar is also a key chip supplier.

Fucai's business had double-digit growth last year, and it is optimistic that demand will be stable this year. It recently displayed diversified applications at the Touch Taiwan exhibition, highlighting the group's integration strength.

Companies such as Everlight, a major packaging manufacturer, and Edison, which specializes in high-power LEDs, also rely on their expertise in LED packaging, chips, modules or niche applications to provide different spectral formulas and high light efficiency solutions to seize the plant lighting business opportunities.

TrendForce predicts that the LED plant lighting market will reach US$1.315 billion in 2024. Benefiting from the improved LED light efficiency, significant energy-saving benefits, mature adjustable spectrum technology, and increased investment in localized food supply chains and emerging agricultural technologies by various countries, the market will continue to grow. It is predicted that the global LED plant lighting market size is expected to grow to US$2.056 billion in 2029, with a compound growth rate of 9.4% from 2024 to 2029.

The report points out that greenhouse applications still account for more than 60% of the market, mainly driven by the demand for high-power LEDs to replace traditional HPS lamps.

Due to the increasing demand for localization and high-economic crop cultivation, the growth potential of small and medium-sized vertical farms has attracted more attention. The compound annual growth rate of its market size is estimated to be 13.1%, making it the focus of competition among LED manufacturers.