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Report
Grow Light Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Market Report I 2023-06-14 I 142 Pages I IMARC Group
Market Overview:
The global grow light market size reached US$ 4.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 7.9 Billion by 2028, exhibiting a growth rate (CAGR) of 12.28% during 2023-2028.
A grow light, or plant light, is an artificial source of light that emits light in the electromagnetic spectrum to promote photosynthesis and accelerate growth in plants. It is commonly available in fluorescent, high-intensity discharge (HID), light-emitting diodes (LED) and incandescent variants. They are primarily used for supplementing sunlight, color and temperature to the crops and can be customized according to a specific goal, such as flowering inhibition, anthocyanin accumulation and enhanced rooting. Owing to this, they find extensive applications in vertical farming, indoor farming, commercial greenhouses, landscaping, and for other purposes.
Significant growth in the agricultural sector is one of the key factors driving the growth of the market. Furthermore, widespread adoption of vertical and indoor farming practices is also providing a boost to the market growth. The hydroponic farming systems use multiple grow lights to maintain an adequate amount of sunlight and protecting the plants from damage caused by insects and pests. Additionally, the rising demand for food as a result of the increasing population, coupled with the limited availability of cultivable land, is also impacting the product demand positively. Grow lights aid in maintaining the optimal yield and plant quality, thereby meeting the steadily rising food demand across the globe. Apart from this, various technological advancements, including the development of smart grow lights integrated with the Internet of Things (IoT), are acting as another growth-inducing factor. Other factors, including various innovations in the field of agricultural sciences and the implementation of favorable government policies, are projected to drive the market in the upcoming years.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global grow light market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on technology, installation type, spectrum and application.
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
Breakup by Region:
North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Argentina
Colombia
Chile
Peru
Others
Middle East and Africa
Turkey
Saudi Arabia
Iran
United Arab Emirates
Others
Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players being Epistar, Everlight Electronics, Gavita International B.V., General Electric Company, Heliospectra AB, Illumitex Inc., Koninklijke Philips N.V., LumiGrow, Osram Licht AG, Shenzhen Juson Technology Co. Ltd., etc.
Key Questions Answered in This Report:
What was the size of the global grow light market in 2022?
What is the expected growth rate of the global grow light market during 2023-2028?
What are the key factors driving the global grow light market?
What has been the impact of COVID-19 on the global grow light market?
What is the breakup of the global grow light market based on the technology?
What is the breakup of the global grow light market based on the installation type?
What is the breakup of the global grow light market based on the spectrum?
What is the breakup of the global grow light market based on the application?
What are the key regions in the global grow light market?
Who are the key players/companies in the global grow light market?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Grow Light Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Technology
6.1 HID
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 LED
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Fluorescent
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Others
6.4.1 Market Trends
6.4.2 Market Forecast
7 Market Breakup by Installation Type
7.1 New Installations
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Retrofit Installations
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by Spectrum
8.1 Full-Spectrum
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Partial Spectrum
8.2.1 Market Trends
8.2.2 Market Forecast
9 Market Breakup by Application
9.1 Indoor Farming
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Vertical Farming
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Commercial Greenhouse
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Turf and Landscaping
9.4.1 Market Trends
9.4.2 Market Forecast
9.5 Others
9.5.1 Market Trends
9.5.2 Market Forecast
10 Market Breakup by Region
10.1 North America
10.1.1 United States
10.1.1.1 Market Trends
10.1.1.2 Market Forecast
10.1.2 Canada
10.1.2.1 Market Trends
10.1.2.2 Market Forecast
10.2 Asia Pacific
10.2.1 China
10.2.1.1 Market Trends
10.2.1.2 Market Forecast
10.2.2 Japan
10.2.2.1 Market Trends
10.2.2.2 Market Forecast
10.2.3 India
10.2.3.1 Market Trends
10.2.3.2 Market Forecast
10.2.4 South Korea
10.2.4.1 Market Trends
10.2.4.2 Market Forecast
10.2.5 Australia
10.2.5.1 Market Trends
10.2.5.2 Market Forecast
10.2.6 Indonesia
10.2.6.1 Market Trends
10.2.6.2 Market Forecast
10.2.7 Others
10.2.7.1 Market Trends
10.2.7.2 Market Forecast
10.3 Europe
10.3.1 Germany
10.3.1.1 Market Trends
10.3.1.2 Market Forecast
10.3.2 France
10.3.2.1 Market Trends
10.3.2.2 Market Forecast
10.3.3 United Kingdom
10.3.3.1 Market Trends
10.3.3.2 Market Forecast
10.3.4 Italy
10.3.4.1 Market Trends
10.3.4.2 Market Forecast
10.3.5 Spain
10.3.5.1 Market Trends
10.3.5.2 Market Forecast
10.3.6 Russia
10.3.6.1 Market Trends
10.3.6.2 Market Forecast
10.3.7 Others
10.3.7.1 Market Trends
10.3.7.2 Market Forecast
10.4 Latin America
10.4.1 Brazil
10.4.1.1 Market Trends
10.4.1.2 Market Forecast
10.4.2 Mexico
10.4.2.1 Market Trends
10.4.2.2 Market Forecast
10.4.3 Argentina
10.4.3.1 Market Trends
10.4.3.2 Market Forecast
10.4.4 Colombia
10.4.4.1 Market Trends
10.4.4.2 Market Forecast
10.4.5 Chile
10.4.5.1 Market Trends
10.4.5.2 Market Forecast
10.4.6 Peru
10.4.6.1 Market Trends
10.4.6.2 Market Forecast
10.4.7 Others
10.4.7.1 Market Trends
10.4.7.2 Market Forecast
10.5 Middle East and Africa
10.5.1 Turkey
10.5.1.1 Market Trends
10.5.1.2 Market Forecast
10.5.2 Saudi Arabia
10.5.2.1 Market Trends
10.5.2.2 Market Forecast
10.5.3 Iran
10.5.3.1 Market Trends
10.5.3.2 Market Forecast
10.5.4 United Arab Emirates
10.5.4.1 Market Trends
10.5.4.2 Market Forecast
10.5.5 Others
10.5.5.1 Market Trends
10.5.5.2 Market Forecast
11 SWOT Analysis
11.1 Overview
11.2 Strengths
11.3 Weaknesses
11.4 Opportunities
11.5 Threats
12 Value Chain Analysis
12.1 Overview
12.2 Research and Development
12.3 Raw Material Procurement
12.4 Manufacturing
12.5 Marketing
12.6 Distribution
12.7 End-Use
13 Porters Five Forces Analysis
13.1 Overview
13.2 Bargaining Power of Buyers
13.3 Bargaining Power of Suppliers
13.4 Degree of Competition
13.5 Threat of New Entrants
13.6 Threat of Substitutes
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 Epistar
14.3.1.1 Company Overview
14.3.1.2 Product Portfolio
14.3.1.3 Financials
14.3.2 Everlight Electronics
14.3.2.1 Company Overview
14.3.2.2 Product Portfolio
14.3.3 Gavita International B.V.
14.3.3.1 Company Overview
14.3.3.2 Product Portfolio
14.3.4 General Electric Company
14.3.4.1 Company Overview
14.3.4.2 Product Portfolio
14.3.4.3 Financials
14.3.4.4 SWOT Analysis
14.3.5 Heliospectra AB
14.3.5.1 Company Overview
14.3.5.2 Product Portfolio
14.3.5.3 Financials
14.3.6 Illumitex Inc.
14.3.6.1 Company Overview
14.3.6.2 Product Portfolio
14.3.7 Koninklijke Philips N.V.
14.3.7.1 Company Overview
14.3.7.2 Product Portfolio
14.3.8 LumiGrow
14.3.8.1 Company Overview
14.3.8.2 Product Portfolio
14.3.9 Osram Licht AG
14.3.9.1 Company Overview
14.3.9.2 Product Portfolio
14.3.10 Shenzhen Juson Technology Co. Ltd.
14.3.10.1 Company Overview
14.3.10.2 Product Portfolio
Figure 1: Global: Grow Light Market: Major Drivers and Challenges
Figure 2: Global: Grow Light Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Grow Light Market: Breakup by Technology (in %), 2022
Figure 4: Global: Grow Light Market: Breakup by Installation Type (in %), 2022
Figure 5: Global: Grow Light Market: Breakup by Spectrum (in %), 2022
Figure 6: Global: Grow Light Market: Breakup by Application (in %), 2022
Figure 7: Global: Grow Light Market: Breakup by Region (in %), 2022
Figure 8: Global: Grow Light Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 9: Global: Grow Light (HID) Market: Sales Value (in Million US$), 2017 & 2022
Figure 10: Global: Grow Light (HID) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 11: Global: Grow Light (LED) Market: Sales Value (in Million US$), 2017 & 2022
Figure 12: Global: Grow Light (LED) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 13: Global: Grow Light (Fluorescent) Market: Sales Value (in Million US$), 2017 & 2022
Figure 14: Global: Grow Light (Fluorescent) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 15: Global: Grow Light (Other Technologies) Market: Sales Value (in Million US$), 2017 & 2022
Figure 16: Global: Grow Light (Other Technologies) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 17: Global: Grow Light (New Installations) Market: Sales Value (in Million US$), 2017 & 2022
Figure 18: Global: Grow Light (New Installations) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 19: Global: Grow Light (Retrofit Installations) Market: Sales Value (in Million US$), 2017 & 2022
Figure 20: Global: Grow Light (Retrofit Installations) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 21: Global: Grow Light (Full-Spectrum) Market: Sales Value (in Million US$), 2017 & 2022
Figure 22: Global: Grow Light (Full-Spectrum) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 23: Global: Grow Light (Partial Spectrum) Market: Sales Value (in Million US$), 2017 & 2022
Figure 24: Global: Grow Light (Partial Spectrum) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 25: Global: Grow Light (Indoor Farming) Market: Sales Value (in Million US$), 2017 & 2022
Figure 26: Global: Grow Light (Indoor Farming) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 27: Global: Grow Light (Vertical Farming) Market: Sales Value (in Million US$), 2017 & 2022
Figure 28: Global: Grow Light (Vertical Farming) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 29: Global: Grow Light (Commercial Greenhouse) Market: Sales Value (in Million US$), 2017 & 2022
Figure 30: Global: Grow Light (Commercial Greenhouse) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 31: Global: Grow Light (Turf and Landscaping) Market: Sales Value (in Million US$), 2017 & 2022
Figure 32: Global: Grow Light (Turf and Landscaping) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 33: Global: Grow Light (Other Applications) Market: Sales Value (in Million US$), 2017 & 2022
Figure 34: Global: Grow Light (Other Applications) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 35: North America: Grow Light Market: Sales Value (in Million US$), 2017 & 2022
Figure 36: North America: Grow Light Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 37: United States: Grow Light Market: Sales Value (in Million US$), 2017 & 2022
Figure 38: United States: Grow Light Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 39: Canada: Grow Light Market: Sales Value (in Million US$), 2017 & 2022
Figure 40: Canada: Grow Light Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 41: Asia Pacific: Grow Light Market: Sales Value (in Million US$), 2017 & 2022
Figure 42: Asia Pacific: Grow Light Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 43: China: Grow Light Market: Sales Value (in Million US$), 2017 & 2022
Figure 44: China: Grow Light Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 45: Japan: Grow Light Market: Sales Value (in Million US$), 2017 & 2022
Figure 46: Japan: Grow Light Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 47: India: Grow Light Market: Sales Value (in Million US$), 2017 & 2022
Figure 48: India: Grow Light Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 49: South Korea: Grow Light Market: Sales Value (in Million US$), 2017 & 2022
Figure 50: South Korea: Grow Light Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 51: Australia: Grow Light Market: Sales Value (in Million US$), 2017 & 2022
Figure 52: Australia: Grow Light Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 53: Indonesia: Grow Light Market: Sales Value (in Million US$), 2017 & 2022
Figure 54: Indonesia: Grow Light Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 55: Others: Grow Light Market: Sales Value (in Million US$), 2017 & 2022
Figure 56: Others: Grow Light Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 57: Europe: Grow Light Market: Sales Value (in Million US$), 2017 & 2022
Figure 58: Europe: Grow Light Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 59: Germany: Grow Light Market: Sales Value (in Million US$), 2017 & 2022
Figure 60: Germany: Grow Light Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 61: France: Grow Light Market: Sales Value (in Million US$), 2017 & 2022
Figure 62: France: Grow Light Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 63: United Kingdom: Grow Light Market: Sales Value (in Million US$), 2017 & 2022
Figure 64: United Kingdom: Grow Light Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 65: Italy: Grow Light Market: Sales Value (in Million US$), 2017 & 2022
Figure 66: Italy: Grow Light Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 67: Spain: Grow Light Market: Sales Value (in Million US$), 2017 & 2022
Figure 68: Spain: Grow Light Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 69: Russia: Grow Light Market: Sales Value (in Million US$), 2017 & 2022
Figure 70: Russia: Grow Light Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 71: Others: Grow Light Market: Sales Value (in Million US$), 2017 & 2022
Figure 72: Others: Grow Light Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 73: Latin America: Grow Light Market: Sales Value (in Million US$), 2017 & 2022
Figure 74: Latin America: Grow Light Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 75: Brazil: Grow Light Market: Sales Value (in Million US$), 2017 & 2022
Figure 76: Brazil: Grow Light Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 77: Mexico: Grow Light Market: Sales Value (in Million US$), 2017 & 2022
Figure 78: Mexico: Grow Light Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 79: Argentina: Grow Light Market: Sales Value (in Million US$), 2017 & 2022
Figure 80: Argentina: Grow Light Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 81: Colombia: Grow Light Market: Sales Value (in Million US$), 2017 & 2022
Figure 82: Colombia: Grow Light Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 83: Chile: Grow Light Market: Sales Value (in Million US$), 2017 & 2022
Figure 84: Chile: Grow Light Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 85: Peru: Grow Light Market: Sales Value (in Million US$), 2017 & 2022
Figure 86: Peru: Grow Light Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 87: Others: Grow Light Market: Sales Value (in Million US$), 2017 & 2022
Figure 88: Others: Grow Light Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 89: Middle East and Africa: Grow Light Market: Sales Value (in Million US$), 2017 & 2022
Figure 90: Middle East and Africa: Grow Light Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 91: Turkey: Grow Light Market: Sales Value (in Million US$), 2017 & 2022
Figure 92: Turkey: Grow Light Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 93: Saudi Arabia: Grow Light Market: Sales Value (in Million US$), 2017 & 2022
Figure 94: Saudi Arabia: Grow Light Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 95: Iran: Grow Light Market: Sales Value (in Million US$), 2017 & 2022
Figure 96: Iran: Grow Light Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 97: United Arab Emirates: Grow Light Market: Sales Value (in Million US$), 2017 & 2022
Figure 98: United Arab Emirates: Grow Light Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 99: Others: Grow Light Market: Sales Value (in Million US$), 2017 & 2022
Figure 100: Others: Grow Light Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 101: Global: Grow Light Industry: SWOT Analysis
Figure 102: Global: Grow Light Industry: Value Chain Analysis
Figure 103: Global: Grow Light Industry: Porters Five Forces Analysis
Table 1: Global: Grow Light Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Grow Light Market Forecast: Breakup by Technology (in Million US$), 2023-2028
Table 3: Global: Grow Light Market Forecast: Breakup by Installation Type (in Million US$), 2023-2028
Table 4: Global: Grow Light Market Forecast: Breakup by Spectrum (in Million US$), 2023-2028
Table 5: Global: Grow Light Market Forecast: Breakup by Application (in Million US$), 2023-2028
Table 6: Global: Grow Light Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 7: Global: Grow Light Market: Competitive Structure
Table 8: Global: Grow Light Market: Key Players
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