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Global Grow Light Market Size Study, By Application (Indoor Farming, Vertical Farming, Commercial Greenhouse), By Product (<300 Watt, >300 Watt), By System (Hardware, Software), By Technology (HID, LED, Fluorescent, Plasma), By Installation (New Installat

Publisher Bizwit Research & Consulting
Published Jan 11, 2025
Length 285 Pages
SKU # BIZW19502844

Description

Global Grow Light Market Size Study, By Application (Indoor Farming, Vertical Farming, Commercial Greenhouse), By Product (<300 Watt, >300 Watt), By System (Hardware, Software), By Technology (HID, LED, Fluorescent, Plasma), By Installation (New Installation, Retrofit), By Spectrum (Partial Spectrum, Full Spectrum), and Regional Forecasts 2022-2032


The Global Grow Light Market, valued at USD 1.58 billion in 2023, is projected to grow at a robust CAGR of 26.5% from 2024 to 2032, reaching USD 13.11 billion by the end of the forecast period. The adoption of advanced farming techniques such as vertical farming and indoor cultivation, coupled with the growing emphasis on environment-friendly food production, is driving market expansion. The demand for grow lights is further boosted by urban population growth and the consequent need for space-efficient agricultural practices.

Grow lights, utilizing technologies such as LEDs and plasma lighting, extend natural daylight hours, enhancing plant growth, health, and yield. These lights play a pivotal role in alternative farming practices, which address challenges like limited fertile agricultural land and climatic unpredictability. Indoor farming, enabled by controlled-environment agriculture (CEA), offers year-round crop production, optimizing light, temperature, and water conditions to boost productivity.

The <300 Watt segment leads the market, driven by its energy efficiency, reduced heat generation, and cost-effectiveness, making it suitable for small to medium-scale growers. LED technology is anticipated to dominate, fueled by government incentives and its ability to provide tailored lighting solutions for various growth stages. Furthermore, the demand for full-spectrum grow lights is expected to surge as they replicate sunlight and cater to every growth stage of plants.

Europe holds the largest regional share, attributed to its focus on alternative farming practices and the adoption of energy-efficient technologies. Asia Pacific is poised for significant growth, driven by advancements in genetically modified crops and increasing adoption of LEDs for sustainable farming.

Major market players included in this report are:
• AeroFarms
• EVERLIGHT ELECTRONICS CO., LTD.
• GAVITA Holland bv
• Heliospectra AB
• Hortilux Schréder
• Illumitex
• LumiGrow Inc.
• Osram Licht AG
• Panasonic
• Toshiba

The detailed segments and sub-segments of the market are explained below:

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:
• North America
U.S.
Canada
Mexico
• Europe
UK
Germany
• Asia Pacific
China
India
Japan
• South America
Brazil
• Middle East & Africa
Saudi Arabia
UAE

Years Considered for the Study
• Historical Year: 2022
• Base Year: 2023
• Forecast Period: 2024-2032

Key Takeaways
• Market estimates and forecasts for 10 years (2022-2032).
• Detailed analysis of geographical regions with country-level data.
• Analysis of key business strategies and growth tactics.
• Insights into market dynamics, including drivers, restraints, and opportunities.
• In-depth competitive landscape and company profiling.

Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.

Table of Contents

285 Pages
Chapter 1. Global Grow Light Market Executive Summary
1.1. Global Grow Light Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
1.3.1. By Application
1.3.2. By Product
1.3.3. By System
1.3.4. By Technology
1.3.5. By Installation
1.3.6. By Spectrum
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion
Chapter 2. Global Grow Light Market Definition and Research Assumptions
2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
2.3.1. Inclusion & Exclusion
2.3.2. Limitations
2.3.3. Supply Side Analysis
2.3.3.1. Availability
2.3.3.2. Infrastructure
2.3.3.3. Regulatory Environment
2.3.3.4. Market Competition
2.3.3.5. Economic Viability (Consumer’s Perspective)
2.3.4. Demand Side Analysis
2.3.4.1. Regulatory Frameworks
2.3.4.2. Technological Advancements
2.3.4.3. Environmental Considerations
2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates
Chapter 3. Global Grow Light Market Dynamics
3.1. Market Drivers
3.1.1. Urban Cultivation and Vertical Farming Growth
3.1.2. Adoption of Sustainable Farming Practices
3.1.3. Technological Advancements in Grow Lights
3.2. Market Challenges
3.2.1. High Initial Costs of Advanced Grow Light Systems
3.2.2. Supply Chain Disruptions and Raw Material Availability
3.3. Market Opportunities
3.3.1. Expansion of LED Technologies for Energy Efficiency
3.3.2. Rising Investments in Controlled-Environment Agriculture
Chapter 4. Global Grow Light Market Industry Analysis
4.1. Porter’s Five Forces Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. PESTEL Analysis
4.2.1. Political
4.2.2. Economic
4.2.3. Social
4.2.4. Technological
4.2.5. Environmental
4.2.6. Legal
4.3. Top Investment Opportunity
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion
Chapter 5. Global Grow Light Market Size & Forecasts by Application (2022-2032)
5.1. Segment Dashboard
5.2. Global Grow Light Market: Application Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
5.2.1. Indoor Farming
5.2.2. Vertical Farming
5.2.3. Commercial Greenhouse
5.2.4. Others
Chapter 6. Global Grow Light Market Size & Forecasts by Product (2022-2032)
6.1. Segment Dashboard
6.2. Global Grow Light Market: Product Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
6.2.1. <300 Watt
6.2.2. >300 Watt
Chapter 7. Global Grow Light Market Size & Forecasts by System (2022-2032)
7.1. Segment Dashboard
7.2. Global Grow Light Market: System Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
7.2.1. Hardware
7.2.2. Software
Chapter 8. Global Grow Light Market Size & Forecasts by Technology (2022-2032)
8.1. Segment Dashboard
8.2. Global Grow Light Market: Technology Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
8.2.1. High Intensity Discharge (HID)
8.2.2. LED
8.2.3. Fluorescent
8.2.4. Plasma
Chapter 9. Global Grow Light Market Size & Forecasts by Installation (2022-2032)
9.1. Segment Dashboard
9.2. Global Grow Light Market: Installation Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
9.2.1. New Installation
9.2.2. Retrofit
Chapter 10. Global Grow Light Market Size & Forecasts by Spectrum (2022-2032)
10.1. Segment Dashboard
10.2. Global Grow Light Market: Spectrum Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
10.2.1. Partial Spectrum
10.2.2. Full Spectrum
Chapter 11. Global Grow Light Market Size & Forecasts by Region (2022-2032)
11.1. North America Grow Light Market
11.1.1. U.S. Grow Light Market
11.1.1.1. Technology Breakdown Size & Forecasts, 2022-2032
11.1.1.2. Spectrum Breakdown Size & Forecasts, 2022-2032
11.1.2. Canada Grow Light Market
11.1.3. Mexico Grow Light Market
11.2. Europe Grow Light Market
11.2.1. Germany Grow Light Market
11.2.2. U.K. Grow Light Market
11.3. Asia Pacific Grow Light Market
11.3.1. China Grow Light Market
11.3.2. India Grow Light Market
11.3.3. Japan Grow Light Market
11.4. South America Grow Light Market
11.4.1. Brazil Grow Light Market
11.5. Middle East & Africa Grow Light Market
11.5.1. Saudi Arabia Grow Light Market
11.5.2. UAE Grow Light Market
Chapter 12. Competitive Intelligence
12.1. Key Company SWOT Analysis
12.1.1. AeroFarms
12.1.2. EVERLIGHT ELECTRONICS CO., LTD.
12.1.3. Osram Licht AG
12.2. Top Market Strategies
12.3. Company Profiles
12.3.1. AeroFarms
12.3.1.1. Key Information
12.3.1.2. Overview
12.3.1.3. Financials (Subject to Data Availability)
12.3.1.4. Product Summary
12.3.1.5. Market Strategies
12.3.2. Osram Licht AG
12.3.3. EVERLIGHT ELECTRONICS CO., LTD.
Chapter 13. Research Process
13.1. Research Process
13.1.1. Data Mining
13.1.2. Analysis
13.1.3. Market Estimation
13.1.4. Validation
13.1.5. Publishing
13.2. Research Attributes
List of Tables
TABLE 1. Global Grow Light Market Scope
TABLE 2. Global Grow Light Market Estimates & Forecasts by Region, 2022-2032 (USD Million/Billion)
TABLE 3. Global Grow Light Market Estimates & Forecasts by Application, 2022-2032 (USD Million/Billion)
TABLE 4. Global Grow Light Market Estimates & Forecasts by Product, 2022-2032 (USD Million/Billion)
TABLE 5. U.S. Grow Light Market by Technology, 2022-2032 (USD Million/Billion)
TABLE 6. Europe Grow Light Market by Installation, 2022-2032 (USD Million/Billion)
TABLE 7. Asia Pacific Grow Light Market by Spectrum, 2022-2032 (USD Million/Billion)
This list is not complete; the final report contains more than 100 tables. The list may be updated in the final deliverable.
List of Figures
FIGURE 1. Global Grow Light Market Research Methodology
FIGURE 2. Global Grow Light Market Estimation Techniques
FIGURE 3. Global Grow Light Market Key Trends (2023)
FIGURE 4. Global Competitive Landscape of Grow Light Market
FIGURE 5. U.S. Grow Light Market Size by Spectrum, 2022-2032
FIGURE 6. Europe Grow Light Market Growth Analysis by Product, 2022-2032
This list is not complete; the final report contains more than 50 figures. The list may be updated in the final deliverable.

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