Global Grow Light Market Size, Trends and Growth opportunity, By Application (indoor farming, vertical farming, commercial greenhouse, others), By Product (< 300 Watt, > 300 Watt), By System (hardware, software), By technology (High Intensity Discharge (HID), LED, fluorescent, Plasma), By Installation (New Installation, Retrofit), By Spectrum (partial spectrum, full spectrum), By Region and forecast till 2027.
Global Grow Light Market
The global Grow Light market was valued at USD 4.23 billion in 2021 and is expected to expand USD 12. 31 billion at a CAGR of 20.09 % during forecast period 2022- 2027.
A grow light is an artificial source of light that emits light in the electromagnetic spectrum which accelerate the process of photosynthesis and foster the growth in plants. It is usually available in light-emitting diodes (LED), fluorescent, high-intensity discharge (HID), and incandescent variants. Grow lights are mostly useful in absence of sunlight.
Market Drivers
Grow light helps in extending the hours of the natural daylight which increases the health, growth rate, and yield of the plants act as major factor for driving the market growth.
Growing awareness among farmers regarding the importance of alternative farming due to shrinkage of fertile agricultural land and increasing population ultimately increases the food demand along with increasing government support propelling the growth of Grow Light market.
Rising indoor farming technology monitors extreme weather conditions like environmental control, control of light, fertigation which results in increased productivity. Additionally, growing vertical farming to produce food in a warehouse, skyscraper or shipping container fuels the market growth.
Market Restraints
Lack of awareness among farmers regarding the use of plant light for greater yields hinders the growth of market.
Additionally, the semiconductor uses to increase their full spectrum led grow lights and lack of infrastructure facilities for quality assurance restrain the growth of Grow Light market. The unavailability of raw materials anticipated the growth of Global Grow Light Market.
COVID-19 Impact on Global Grow Light Market
Outbreak of covid-19 Negatively impacted market as lockdown is imposed by government causing shutdown of manufacturing sector and disruption in supply chain. Additionally, the reduction in transportation and slow domestic demand during pandemic affected the market growth. The commercial greenhouse farming driven the market during COVID-19.
Market Segmentation
The global Grow Light market segmented on the basis of Application, Product, System, Technology, Installation, Spectrum and Region. On the basis of application it is segmented into indoor farming, vertical farming, commercial greenhouse,others.On the basis of product it is segmented into < 300 Watt,> 300 Watt. On the basis of system, it is segmented into hardware, software. On the basis of technology, it is segmented into High Intensity Discharge (HID), LED, fluorescent, Plasma. On the basis of Installation, it is segmented into New Installation, Retrofit. On the basis of Spectrum, it is segmented into partial spectrum, full spectrum. On the basis of Region, it is segmented into North America, Europe, Asia Pacific, Latin America, MEA.
Regional Analysis
The Global Grow Light market segmented into five regions North America, Europe, Asia Pacific, Latin America, MEA. Europe dominate the market due to growing awareness regarding grow Light farming in this region. Asia-Pacific also witnessed a significant rise in global Grow Light market during forecast period 2022-2027.
Key Players
Various key players are listed in this report such as AeroFarms,EVERLIGHT ELECTRONICS CO LTD,GAVITA Holland bv,Heliospectra AB, Hortilux Schréder, Illumitex,LumiGrow Inc, Osram Licht AG,Signify Holding ,Valoya, California LightWorks,Cree LED,Samsung.
Market Taxonomy
By Application
o indoor farming
o vertical farming
o commercial greenhouse
o others
By Product
o < 300 Watt
o > 300 Watt
By System
o Hardware
o Software
By Technology
o High Intensity Discharge (HID)
o LED
o Fluorescent
o Plasma
By Installation
o New Installation
o Retrofit
By Spectrum
o partial spectrum
o full spectrum
By Region
o North America
o Europe
o Asia Pacific
o Latin America
o Middle East and Africa
Key Question Addressed by the Report
• What are the Key Opportunities in Global Grow Light Market?
• What will be the growth rate from 2022 to 2027?
• Which segment/region will have highest growth?
• What are the factors that will impact/drive the Market?
• What is the role of key players in the value chain?
Global Grow Light Market
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Grow Light Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Grow Light Market, By Application
5.1 Y-o-Y Growth Comparison, By Application
5.2 Grow Light Market Share Analysis, By Application
5.3 Grow Light Market Size and Forecast, By Application
5.3.1 indoor farming
5.3.2 vertical farming
5.3.3 commercial greenhouse
5.3.4 others
6 Grow Light Market, By Product
6.1 Y-o-Y Growth Comparison, By Product
6.2 Grow Light Market Share Analysis, By Product
6.3 Grow Light Market Size and Forecast, By Product
6.3.1 < 300 Watt
6.3.2 > 300 Watt
7 Grow Light Market, By System
7.1 Y-o-Y Growth Comparison, By System
7.2 Grow Light Market Share Analysis, By System
7.3 Grow Light Market Size and Forecast, By System
7.3.1 Hardware
7.3.2 Software
8 Grow Light Market, By Technology
8.1 Y-o-Y Growth Comparison, By Technology
8.2 Grow Light Market Share Analysis, By Technology
8.3 Grow Light Market Size and Forecast, By Technology
8.3.1 High Intensity Discharge (HID)
8.3.2 LED
8.3.3 Fluorescent
8.3.4 Plasma
9 Grow Light Market, By Installation
9.1 Y-o-Y Growth Comparison, By Installation
9.2 Grow Light Market Share Analysis, By Installation
9.3 Grow Light Market Size and Forecast, By Installation
9.3.1 New Installation
9.3.2 Retrofit
10 Grow Light Market, By Spectrum
10.1 Y-o-Y Growth Comparison, By Spectrum
10.2 Grow Light Market Share Analysis, By Spectrum
10.3 Grow Light Market Size and Forecast, By Spectrum
10.3.1 Partial spectrum
10.3.2 full spectrum
11 Grow Light Market, By Region
11.1 Grow Light Market Share Analysis, By Region
11.2 Grow Light Market Share Analysis, By Region
11.3 Grow Light Market Size and Forecast, By Region
12 North America Grow Light Market Analysis and Forecast (2022 – 2027)
12.1 Introduction
12.2 North America Grow Light Market Share Analysis, By Application
12.3 North America Grow Light Market Size and Forecast, By Product
12.4 North America Grow Light Market Size and Forecast, By System
12.5 North America Grow Light Market Size and Forecast, By Technology
12.6 North America Grow Light Market Size and Forecast, By Installation
12.7 North America Grow Light Market Size and Forecast, By Spectrum
12.8 North America Grow Light Market Size and Forecast, By Country
12.8.1 U.S.
12.8.2 Canada
12.8.3 Mexico
13 Europe Grow Light Market Analysis and Forecast (2022 – 2027)
13.1 Introduction
13.2 Europe Grow Light Market Share Analysis, By Application
13.3 Europe Grow Light Market Size and Forecast, By Product
13.4 Europe Grow Light Market Size and Forecast, By System
13.5 Europe Grow Light Market Size and Forecast, By Technology
13.6 Europe Grow Light Market Size and Forecast, By Installation
13.7 Europe Grow Light Market Size and Forecast, By Spectrum
13.8 Europe Grow Light Market Size and Forecast, By Country
13.8.1 Germany
13.8.2 France
13.8.3 Austria
13.8.4. Rest of Europe
14 Asia Pacific Grow Light Market Analysis and Forecast (2022 – 2027)
14.1 Introduction
14.2 Asia Pacific Grow Light Market Share Analysis, By Application
14.3 Asia Pacific Grow Light Market Size and Forecast, By Product
14.4 Asia Pacific Grow Light Market Size and Forecast, By System
14.5 Asia Pacific Grow Light Market Size and Forecast, By Technology
14.6 Asia Pacific Grow Light Market Size and Forecast, By Installation
14.7 Asia Pacific Grow Light Market Size and Forecast, By Spectrum
14.8 Asia Pacific Grow Light Market Size and Forecast, By Country
14.8.1 China
14.8.2 Japan
14.8.3 India
14.8.4. Rest of Asia Pacific
15 Latin America Grow Light Market Analysis and Forecast (2022 – 2027)
15.1 Introduction
15.2 Latin America Grow Light Market Share Analysis, By Application
15.3 Latin America Grow Light Market Size and Forecast, By Product
15.4 Latin America Grow Light Market Size and Forecast, By System
15.5 Latin America Grow Light Market Size and Forecast, By Technology
15.6 Latin America Grow Light Market Size and Forecast, By Installation
15.7 Latin America Grow Light Market Size and Forecast, By Spectrum
15.8 Latin America Grow Light Market Size and Forecast, By Country
15.8.1. Brazil
15.8.2. Rest of Latin America
16 Middle East Grow Light Market Analysis and Forecast (2022 – 2027)
16.1 Introduction
16.2 Middle East Grow Light Market Share Analysis, By Application
16.3 Middle East Grow Light Market Size and Forecast, By Product
16.4 Middle East Grow Light Market Size and Forecast, By System
16.5 Middle East Grow Light Market Size and Forecast, By Technology
16.6 Middle East Grow Light Market Size and Forecast, By Installation
16.7 Middle East Grow Light Market Size and Forecast, By Spectrum
16.8 Middle East Grow Light Market Size and Forecast, By Country
16.8.1. Saudi Arabia
16.8.2. UAE
16.8.3. Egypt
16.8.4. Kuwait
16.8.5. South Africa
17 Competitive Analysis
17.1 Competition Dashboard
17.2 Market share Analysis of Top Vendors
17.3 Key Development Strategies
18 Company Profiles
18.1 AeroFarms
18.1.1 Overview
18.1.2 Offerings
18.1.3 Key Financials
18.1.4 Business Segment & Geographic Overview
18.1.5 Key Market Developments
18.1.6 Key Strategies
18.2 EVERLIGHT ELECTRONICS CO LTD
18.2.1 Overview
18.2.2 Offerings
18.2.3 Key Financials
18.2.4 Business Segment & Geographic Overview
18.2.5 Key Market Developments
18.2.6 Key Strategies
18.3 GAVITA Holland bv
18.3.1 Overview
18.3.2 Offerings
18.3.3 Key Financials
18.3.4 Business Segment & Geographic Overview
18.3.5 Key Market Developments
18.3.6 Key Strategies
18.4 Heliospectra AB
18.4.1 Overview
18.4.2 Offerings
18.4.3 Key Financials
18.4.4 Business Segment & Geographic Overview
18.4.5 Key Market Developments
18.4.6 Key Strategies
18.5 Hortilux Schréder
18.5.1 Overview
18.5.2 Offerings
18.5.3 Key Financials
18.5.4 Business Segment & Geographic Overview
18.5.5 Key Market Developments
18.5.6 Key Strategies
18.6 LumiGrow Inc
18.6.1 Overview
18.6.2 Offerings
18.6.3 Key Financials
18.6.4 Business Segment & Geographic Overview
18.6.5 Key Market Developments
18.6.6 Key Strategies
18.7 Osram Licht AG
18.7.1 Overview
18.7.2 Offerings
18.7.3 Key Financials
18.7.4 Business Segment & Geographic Overview
18.7.5 Key Market Developments
18.7.6 Key Strategies
18.8 Signify Holding
18.8.1 Overview
18.8.2 Offerings
18.8.3 Key Financials
18.8.4 Business Segment & Geographic Overview
18.8.5 Key Market Developments
18.8.6 Key Strategies
18.9 Valoya
18.9.1 Overview
18.9.2 Offerings
18.9.3 Key Financials
18.9.4 Business Segment & Geographic Overview
18.9.5 Key Market Developments
18.9.6 Key Strategies
18.10 California LightWorks
18.10.1 Overview
18.10.2 Offerings
18.10.3 Key Financials
18.10.4 Business Segment & Geographic Overview
18.10.5 Key Market Developments
18.10.6 Key Strategies
18.11 Cree LED
18.11.1 Overview
18.11.2 Offerings
18.11.3 Key Financials
18.11.4 Business Segment & Geographic Overview
18.11.5 Key Market Developments
18.11.6 Key Strategies
18.12 Samsung
18.12.1 Overview
18.12.2 Offerings
18.12.3 Key Financials
18.12.4 Business Segment & Geographic Overview
18.12.5 Key Market Developments
18.12.6 Key Strategies
