Grow Light Market is expected to reach USD 5.80 billion by the end of 2022 with ~13% CAGR during forecast period 2017-2022
The growth in the indoor farming, government initiatives to adopt technologies such as LED, growing demand for energy efficiency, long lasting grow technology and environmentally safe products are the factors boosting the growth of the grow light market. Also, a high commercial greenhouses practice in countries such as Netherlands is propelling the growth of the market.
Grow light can be explained as a type of electronic lamp designed to accelerate plant growth by electronic magnetic spectrum. It is widely used in applications where natural light is not available or where supplemental light required.
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Factors such as low awareness among consumers, high cost of capital are hampering the growth of the market. European region accounted for the largest market share in the grow light market majorly due to high vertical farming practices.
- Osram LichtAG (Germany)
- General Electric Company (U.S.)
- Iwasaki Electric Co., Ltd. (Japan)
- LumiGrow, Inc. (U.S.)
- Gavita Holland B.V. (Netherlands)
- Hortilux Schreder B.V. (Netherlands)
- Sunlight Supply, Inc. (U.S.)
- Heliospectra AB (Sweden)
- Royal Philips (Netherlands)
- Platinum LED Lights LLC (U.S.)
Market Research Future Analysis
The global grow light market is expected to grow significantly. The market is highly application basis. Vertical Farming segment of grow light market globally drives the market. The market is expected to have higher growth rate as compared to the previous years.
Scope of the Report
According to market research future, the market segmentation of grow light market can be into technology, installation, application and region.
- High Intensity Discharge
- Fluorescent Lighting
- New Installation
- Indoor Framing
- Commercial Greenhouse
- Vertical Framing
Europe accounted for the largest market share, because Netherlands is a leading exporter of horticultural produce which increases the usage of commercial greenhouse. Also, the concept of vertical farming is gaining popularity in this region.
Asia-Pacific region is expected to grow significantly over the forecast period, majorly due to increasing awareness about the benefits of this technology.
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Table of Content
1 Market Introduction
2 Research Methodology
3 Market Dynamics
4 Executive Summary
5. Market Factor Analysis
5.1 Porter’s Five Forces Analysis
5.2 Supply Chain Analysis
6 Global Grow Light Market, By Segments
6.2 By Technology
6.3 By Installation
6.4 By Application
6.5 By Geography
7 Competitive Analysis
7.1 Osram Lichtag (Germany),
7.2 General Electric Company (U.S.)
7.3 Iwasaki Electric Co., Ltd. (Japan)
7.4 Lumigrow, Inc. (U.S.)
Taste the market data and market information presented through more than 30 market data tables and figures spread over 100 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Grow Light Market Research Report -Forecast to 2022”.
List of Table
Table 1 Global Grow Light Market, By Technology
Table 2 Global Grow Light Market, By Installation
Table 3 Global Grow Light Market, By Application
Table 4 Global Grow Light Market, By Geography
Table 5 North America Grow Light Market, By Technology
Table 6 North America Grow Light Market, By Installation
Table 7 North America Grow Light Market, By Application
Table 8 North America Grow Light Market, By Geography
List of Figure
Figure 1 Research Technology
Figure 2 Global Grow Light Market, By Technology (%)
Figure 3 Global Grow Light Market, By Installation (%)
Figure 4 Global Grow Light Market, By Application (%)
Figure 5 Global Grow Light Market, By Regions (%)
Figure 6 North America Grow Light, By Country (%)
Figure 7 North America Grow Light, By Technology (%)
Figure 8 North America Grow Light, By Installation (%)
Figure 9 North America Grow Light, By Application (%)
Figure 10 Europe Grow Light, By Country (%)
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