Grow Light Market to Grow at 15.0% CAGR During the Forecast Period 2022-2030

Posted on 2023-03-01 by researchinsights in Technology // 0 Comments

San Francisco, California , USA, Mar 01, 2023 — /EPR Network/ —

Grow Light Industry Overview

The global grow light market size was valued at USD 4.23 billion in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 15.0% from 2022 to 2030.

Growing urban cultivation, vertical farming and growing adoption of environment-friendly production of fruits and vegetables is boosting the growth of the market. The unprecedented growth of the global population has also increased the demand for urban agriculture. Furthermore, the practice of vertical farming for producing food in a vertically stacked-layer such as a used warehouse, skyscraper, or shipping container is boosting the market growth.

Grow light helps in extending the hours of the natural daylight which further increases the health, growth rate, and yield of the plants. Artificial lighting, such as high-pressure sodium lighting, LED lighting and plasma lighting can extend the availability of crops (throughout a season). Growing awareness regarding the importance of alternative farming, owing to the less availability of fertile agricultural land and increasing population, are the key factors anticipated to spur the industry demand.

Gather more insights about the market drivers, restraints, and growth of the Global Grow Light Market

Unlike traditional farming, indoor farming can produce crops throughout the year, which results in increased productivity. Furthermore, indoor farming can protect crops from extreme weather conditions through the usage of techniques such as the controlled environment agriculture technology, where the facilities use artificial environmental control, control of light, and fertigation.

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Grow Light Industry Segmentation

Grand View Research has segmented the global grow light market based on application, product, system, technology, installation, spectrum, and region:

Grow Light Application Outlook (Revenue, USD Million, 2017 – 2030)

Indoor Farming
Vertical Farming
Commercial Greenhouse
Others

Grow Light Product Outlook (Revenue, USD Million, 2017 – 2030)

< 300 Watt
> 300 Watt

Grow Light System Outlook (Revenue, USD Million, 2017 – 2030)

Hardware
Software

Grow Light Technology Outlook (Revenue, USD Million, 2017 – 2030)

High Intensity Discharge (HID)
LED
Fluorescent
Plasma

Grow Light Installation Outlook (Revenue, USD Million, 2017 – 2030)

New Installation
Retrofit

Grow Light Spectrum Outlook (Revenue, USD Million, 2017 – 2030)

Partial Spectrum
Full Spectrum

Grow Light Regional Outlook (Revenue, USD Million, 2017 – 2030)

North America
Europe
Asia Pacific
South America
MEA (Middle East & Africa)

Key Companies profiled:

Some prominent players in the global Grow Light Industry include

AeroFarms
EVERLIGHT ELECTRONICS CO., LTD.,
GAVITA Holland bv
Heliospectra AB
Hortilux Schréder
Illumitex
LumiGrow Inc
Osram Licht AG

Order a free sample PDF of the Grow Light Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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