Grow Light Market Report 2021-2026, Industry Growth, Share, Size, Demand and Future Scope | imarcgroup
Research Reports
Jan 20, 2021
The global grow light market reached a value of US$ 3.26 Billion in 2020. Looking forward, the market to exhibit strong growth during the next five years.
Grow light, also known as plant light, is an artificial source of light that promotes photosynthesis and helps in stimulating the growth of plants. There is a wide variety of grow lights available in the market, ranging from fluorescent, high-intensity discharge (HID) to light-emitting diodes (LED), and incandescent variants. They emit light in the electromagnetic spectrum and are used where there is little or no sunlight.
Global Grow Light Market Trends:
The global grow light market is primarily driven by significant growth in the agricultural sector. Grow lights help farmers maintain the optimal yield and plant quality, thereby meeting the steadily rising food demand across the globe. These lights are also used for flowering inhibition, anthocyanin accumulation and enhanced rooting, as well as for supplementing sunlight, color and temperature to the crops.
Besides this, the growing awareness among farmers about the benefits of LED grow lights has increased their demand, as they are cost-efficient and allow the growers to cultivate plants indoors while keeping the electricity consumption at a minimum level.
Owing to these properties, They find extensive applications in vertical farming, indoor farming, commercial greenhouses, and landscaping. Moreover, with advancements in technology, manufacturers have developed smart grow lights integrated with the Internet of Things (IoT), which is expected to create a positive outlook for the market in the upcoming years.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Grow Light Market 2020-2025 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of the major players operating in the industry include Epistar (TPE: 2448), Everlight Electronics (TPE: 2393), Gavita International B.V., General Electric Company (NYSE: GE), Heliospectra AB, Illumitex Inc., LumiGrow, Osram Licht AG, Shenzhen Juson Technology Co. Ltd., etc.
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The report has segmented the market on the basis of technology, installation type, spectrum, application, and region.
Breakup by Technology:
HID
LED
Fluorescent
Others
Breakup by Installation Type:
New Installations
Retrofit Installations
Breakup by Spectrum:
Full-Spectrum
Partial Spectrum
Breakup by Application:
Indoor Farming
Vertical Farming
Commercial Greenhouse
Turf and Landscaping
Others
Market Breakup by Region
- Asia Pacific
- North America
- Europe
- Middle East and Africa
- Latin America
Key highlights of the report:
Market Performance (2014-2019)
Market Outlook (2020- 2025)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape
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