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Grow Light Market by Product and Geography - Global Forecast and Analysis 2019-2023

Grow Light Market by Product and Geography - Global Forecast and Analysis 2019-2023

Global Grow Light Market: About this market

Technavio’s grow light market analysis considers sales from HID lights, LED lights, fluorescent lights, and others. Our analysis also considers the sales of grow light in APAC, Europe, North America, South America, and MEA. In 2018, the HID light segment had a significant market share. However, the LED light segment will have the largest market share during the forecast period. Factors such as high energy efficiency of LED lights and their long lamp life will play a significant role in the LED light segment to change its market position. Also, our global grow light market report looks at factors such as growing popularity of urban culture, advances in LED lighting technology for horticulture applications, and growing emphasis on expansion of horticulture projects and product offerings. However, high ownership for grow lights, constraints related to lighting complexities and crop range, and stringent regulations in North America and Europe may hamper the growth of the grow light industry over the forecast period.

Global Grow Light Market: Overview

Growing popularity of urban agriculture

Governments, organizations, and individuals have been focusing on innovating farming techniques, such as urban farming due to the shortage of arable land and water. The growing adoption of urban agriculture such as vertical farming, is a practice of producing vegetables in vertically stacked layers or surfaces that may be integrated into structures and skyscrapers. Grow light solutions are being increasingly adopted in urban agriculture projects to reduce the dependency on natural light sources. With rapid advances in LED grow lights, urban farmers can replicate natural light wavelengths and color components to facilitate plant growth. This will lead to the expansion of the global grow light market at a CAGR of almost 19% during the forecast period.

The rising popularity of hydroponic farming systems

The demand for hydroponic farming systems is one of the major grow light market trends that have increased the sale of CFL, HID, HPS and LED grow light solutions. Hydroponic systems refer to the method of growing plants without any soil or compost. Gardeners are opting for electrical illumination for indoor farming applications. This growing popularity of hydroponic farming systems is expected to have a positive impact on the overall market growth.

For the detailed list of factors that will drive the global grow light market during the forecast period 2019-2023, click here.

Competitive Landscape

With the presence of several major players, the global grow light market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading grow light manufacturers, that include Gavita International BV, General Electric Co., Iwasaki Electric Co. Ltd., OSRAM Licht AG, Signify NV.

Also, the grow light market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.


  • Executive summary
  • Scope of the report
    • Preface
      • Table Product overview
    • Currency conversion rates for US$
  • Market landscape
    • Market ecosystem
      • Table Global agribusiness market
      • Table Segments of global agribusiness market
    • Market characteristics
      • Table Market characteristics
    • Market segmentation analysis
      • Table Market segments
  • Market sizing
    • Market definition
      • Table Market definition - Inclusions and exclusions checklist
    • Market sizing 2018
      • Table Market size 2018
    • Market size and forecast 2018-2023
      • Table Global market: Size and forecast 2018-2023 ($ millions)
      • Table Global market: Year-over-year growth 2019-2023 (%)
  • Five forces analysis
    • Table Five forces analysis 2018
    • Table Five forces analysis 2023
    • Bargaining power of buyers
      • Table Bargaining power of buyers
    • Bargaining power of suppliers
      • Table Bargaining power of suppliers
    • Threat of new entrants
      • Table Threat of new entrants
    • Threat of substitutes
      • Table Threat of substitutes
    • Threat of rivalry
      • Table Threat of rivalry
    • Market condition
      • Table Market condition - Five forces 2018
  • Market segmentation by product
    • Table Product - Market share 2018-2023 (%)
    • Comparison by product
      • Table Comparison by product
    • HID lights - Market size and forecast 2018-2023
      • Table HID lights - Market size and forecast 2018-2023 ($ millions)
      • Table HID lights - Year-over-year growth 2019-2023 (%)
    • LED lights - Market size and forecast 2018-2023
      • Table LED lights - Market size and forecast 2018-2023 ($ millions)
      • Table LED lights - Year-over-year growth 2019-2023 (%)
    • Fluorescent lights - Market size and forecast 2018-2023
      • Table Fluorescent lights - Market size and forecast 2018-2023 ($ millions)
      • Table Fluorescent lights - Year-over-year growth 2019-2023 (%)
    • Others - Market size and forecast 2018-2023
      • Table Others - Market size and forecast 2018-2023 ($ millions)
      • Table Others - Year-over-year growth 2019-2023 (%)
    • Market opportunity by product
      • Table Market opportunity by product
  • Customer landscape
    • Table Customer landscape
  • Geographic landscape
    • Geographic segmentation
      • Table Market share by geography 2018-2023 (%)
    • Geographic comparison
      • Table Geographic comparison
    • Europe - Market size and forecast 2018-2023
      • Table Europe - Market size and forecast 2018-2023 ($ millions)
      • Table Europe - Year-over-year growth 2019-2023 (%)
    • North America - Market size and forecast 2018-2023
      • Table North America - Market size and forecast 2018-2023 ($ millions)
      • Table North America - Year-over-year growth 2019-2023 (%)
    • APAC - Market size and forecast 2018-2023
      • Table APAC - Market size and forecast 2018-2023 ($ millions)
      • Table APAC - Year-over-year growth 2019-2023 (%)
    • MEA - Market size and forecast 2018-2023
      • Table MEA - Market size and forecast 2018-2023 ($ millions)
      • Table MEA - Year-over-year growth 2019-2023 (%)
    • South America - Market size and forecast 2018-2023
      • Table South America - Market size and forecast 2018-2023 ($ millions)
      • Table South America - Year-over-year growth 2019-2023 (%)
    • Key leading countries
      • Table Key leading countries
    • Market opportunity
      • Table Market opportunity
  • Decision Framework
  • Drivers and challenges
    • Market drivers
    • Market challenges
      • Table Impact of drivers and challenges
  • Market trends
    • Application of grow lights in plant disease detection and monitoring
    • Rising popularity of hydroponic farming systems
    • Rising prominence of IoT in grow light technology
  • Vendor landscape
    • Overview
      • Table Vendor landscape
    • Landscape disruption
      • Table Landscape disruption
    • Competitive scenario
  • Vendor analysis
    • Vendors covered
      • Table Vendors covered
    • Vendor classification
      • Table Vendor classification
    • Market positioning of vendors
      • Table Market positioning of vendors
    • Gavita International BV
      • Table Gavita International BV - Vendor overview
      • Table Gavita International BV - Product segments
      • Table Gavita International BV - Key offerings
    • General Electric Co.
      • Table General Electric Co. - Vendor overview
      • Table General Electric Co. - Business segments
      • Table General Electric Co. - Organizational developments
      • Table General Electric Co. - Geographic focus
      • Table General Electric Co. - Segment focus
      • Table General Electric Co. - Key offerings
    • Iwasaki Electric Co. Ltd.
      • Table Iwasaki Electric Co. Ltd. - Vendor overview
      • Table Iwasaki Electric Co. Ltd. - Business segments
      • Table Iwasaki Electric Co. Ltd. - Organizational developments
      • Table Iwasaki Electric Co. Ltd. - Geographic focus
      • Table Iwasaki Electric Co. Ltd. - Segment focus
      • Table Iwasaki Electric Co. Ltd. - Key offerings
    • OSRAM Licht AG
      • Table OSRAM Licht AG - Vendor overview
      • Table OSRAM Licht AG - Business segments
      • Table OSRAM Licht AG - Organizational developments
      • Table OSRAM Licht AG - Geographic focus
      • Table OSRAM Licht AG - Segment focus
      • Table OSRAM Licht AG - Key offerings
    • Signify NV
      • Table Signify NV - Vendor overview
      • Table Signify NV - Business segments
      • Table Signify NV - Organizational developments
      • Table Signify NV - Geographic focus
      • Table Signify NV - Segment focus
      • Table Signify NV - Key offerings
  • Appendix
    • Research methodology
      • Table Validation techniques employed for market sizing
    • List of abbreviations
    • Definition of market positioning of vendors
      • Table Definition of market positioning of vendors
  • Explore Technavio

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