The Grow Light Market is expected to be around US$ 7.60 Billion by 2028 at a CAGR of 32% in the given forecast period.
Major growth in the agricultural sector is one of the significant factors catalyzing the growth of the market. Moreover, the large-scale adoption of vertical and indoor farming practices is also providing a thrust to the market growth. The hydroponic farming systems use several grow lights to maintain a sufficient amount of sunlight and protecting the plants from damage caused by insects and pests. Furthermore, the surging demand for food as a result of the rising population, along with the limited availability of cultivable land, is also influencing the product demand positively. Grow lights helps in maintaining the optimal yield and plant quality, thus meeting the steadily increasing food demand across the world. Additionally, several technological advancements, including the development of smart grow lights incorporated with the Internet of Things (IoT), are also boosting the market growth.
The global Grow Light market is segregated on the basis of Technology as HID, LED, Fluorescent and Others. Based on Installation Type the global Grow Light market is segmented in New Installations and Retrofit Installations. Based on Spectrum the global Grow Light market is segmented in Full-Spectrum and Partial Spectrum.
Based on Application, the global Grow Light market is segmented in Indoor Farming, Vertical Farming, Commercial Greenhouse, Turf & Landscaping and Others.
The global Grow Light market report provides geographic analysis covering regions, such as North America, Europe, Asia-Pacific, and Rest of the World. The Grow Light market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.
Competitive Rivalry
Royal Philips, General Electric Company, Gavita Holland B.V., LumiGrow, Inc., Heliospectra AB, Borst Bloembollen B.V., Transcend Lighting Inc., Sunlight Supply Inc., Beacon Lighting India, Walters Garden, Inc., Osram Licht AG, Green Sense Farms, Shenzhen Juson Technology Co., Ltd., General Electric Company, Signify Holding, and others are among the major players in the global Grow Light market. The companies are involved in several growth and expansion strategies to gain a competitive advantage. Industry participants also follow value chain integration with business operations in multiple stages of the value chain.
The Grow Light Market has been segmented as below:
Grow Light Market, By Technology
Grow Light Market, By Installation Type
Grow Light Market, By Spectrum
Grow Light Market, By Application
Grow Light Market, By Region
Grow Light Market, By Company
The report covers:
Report Scope:
The global Grow Light market report scope includes detailed study covering underlying factors influencing the industry trends. The report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies. The report scope includes detailed competitive outlook covering market shares and profiles key participants in the global Grow Light market share. Major industry players with significant revenue share include Royal Philips, General Electric Company, Gavita Holland B.V., LumiGrow, Inc., Heliospectra AB, Borst Bloembollen B.V., Transcend Lighting Inc., Sunlight Supply Inc., Beacon Lighting India, Walters Garden, Inc., Osram Licht AG, Green Sense Farms, Shenzhen Juson Technology Co., Ltd., General Electric Company, Signify Holding, and others.
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1. Introduction
1.1. Key Points
1.2. Report Description
1.3. Markets Covered
1.4. Stakeholders
2. Research Methodology
2.1. Research Scope
2.2. Market Research Process
2.3. Research Data Analysis
2.3.1.1. Secondary Research
2.3.1.2. Primary Research
2.3.1.3. Models for Estimation
2.4. Market Size Estimation
2.4.1. Bottom-Up Approach- Segmental Market Analysis
2.4.2. Top-Down Approach- Parent Market Analysis
3. Executive Summary
4. Market Overview
4.1. Introduction
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. Porter’s Five Force Analysis
5. Grow Light Market, By Technology
5.1. Introduction
5.2. HID
5.2.1. Market Overview
5.2.2. Market Size and Forecast
5.3. LED
5.3.1. Market Overview
5.3.2. Market Size and Forecast
5.4. Fluorescent
5.4.1. Market Overview
5.4.2. Market Size and Forecast
5.5. Others
5.5.1. Market Overview
5.5.2. Market Size and Forecast
6. Grow Light Market, By Installation Type
6.1. Introduction
6.2. New Installations
6.2.1. Market Overview
6.2.2. Market Size and Forecast
6.3. Retrofit Installations
6.3.1. Market Overview
6.3.2. Market Size and Forecast
7. Grow Light Market, By Spectrum
7.1. Introduction
7.2. Full-Spectrum
7.2.1. Market Overview
7.2.2. Market Size and Forecast
7.3. Partial Spectrum
7.3.1. Market Overview
7.3.2. Market Size and Forecast
8. Grow Light Market, By Application
8.1. Introduction
8.2. Indoor Farming
8.2.1. Market Overview
8.2.2. Market Size and Forecast
8.3. Vertical Farming
8.3.1. Market Overview
8.3.2. Market Size and Forecast
8.4. Commercial Greenhouse
8.4.1. Market Overview
8.4.2. Market Size and Forecast
8.5. Turf & Landscaping
8.5.1. Market Overview
8.5.2. Market Size and Forecast
8.6. Others
8.6.1. Market Overview
8.6.2. Market Size and Forecast
9. Grow Light Market, By Geography
9.1. Introduction
9.2. North America
9.2.1. North America Grow Light, By Technology
9.2.2. North America Grow Light, By Installation Type
9.2.3. North America Grow Light, By Spectrum
9.2.4. North America Grow Light, By Application
9.3. Europe
9.3.1. Europe Grow Light, By Technology
9.3.2. Europe Grow Light, By Installation Type
9.3.3. Europe Grow Light, By Spectrum
9.3.4. Europe Grow Light, By Application
9.4. Asia-Pacific
9.4.1. Asia-Pacific Grow Light, By Technology
9.4.2. Asia-Pacific Grow Light, By Installation Type
9.4.3. Asia-Pacific Grow Light, By Spectrum
9.4.4. Asia-Pacific Grow Light, By Application
9.5. Rest of the World
9.5.1. Rest of the World Grow Light, By Technology
9.5.2. Rest of the World Grow Light, By Installation Type
9.5.3. Rest of the World Grow Light, By Spectrum
9.5.4. Rest of the World Grow Light, By Application
10. Competitive Insights
10.1. Key Insights
10.2. Company Market Share Analysis
10.3. Strategic Outlook
10.3.1. Mergers & Acquisitions
10.3.2. New Product Developments
10.3.3. Portfolio/Production Capacity Expansions
10.3.4. Joint Ventures, Collaborations, Partnerships & Agreements
10.3.5. Others
11. Company Profiles
11.1. Royal Philips
11.1.1. Company Overview
11.1.2. Product/Service Landscape
11.1.3. Financial Overview
11.1.4. Recent Developments
11.2. General Electric Company
11.2.1. Company Overview
11.2.2. Product/Service Landscape
11.2.3. Financial Overview
11.2.4. Recent Developments
11.3. Gavita Holland B.V.
11.3.1. Company Overview
11.3.2. Product/Service Landscape
11.3.3. Financial Overview
11.3.4. Recent Developments
11.4. LumiGrow, Inc.
11.4.1. Company Overview
11.4.2. Product/Service Landscape
11.4.3. Financial Overview
11.4.4. Recent Developments
11.5. Heliospectra AB
11.5.1. Company Overview
11.5.2. Product/Service Landscape
11.5.3. Financial Overview
11.5.4. Recent Developments
11.6. Borst Bloembollen B.V.
11.6.1. Company Overview
11.6.2. Product/Service Landscape
11.6.3. Financial Overview
11.6.4. Recent Developments
11.7. Transcend Lighting Inc.
11.7.1. Company Overview
11.7.2. Product/Service Landscape
11.7.3. Financial Overview
11.7.4. Recent Developments
11.8. Sunlight Supply Inc.
11.8.1. Company Overview
11.8.2. Product/Service Landscape
11.8.3. Financial Overview
11.8.4. Recent Developments
11.9. Beacon Lighting India
11.9.1. Company Overview
11.9.2. Product/Service Landscape
11.9.3. Financial Overview
11.9.4. Recent Developments
11.10. Walters Garden, Inc.
11.10.1. Company Overview
11.10.2. Product/Service Landscape
11.10.3. Financial Overview
11.10.4. Recent Developments
11.11. Osram Licht AG
11.11.1. Company Overview
11.11.2. Product/Service Landscape
11.11.3. Financial Overview
11.11.4. Recent Developments
11.12. Green Sense Farms
11.12.1. Company Overview
11.12.2. Product/Service Landscape
11.12.3. Financial Overview
11.12.4. Recent Developments
11.13. Shenzhen Juson Technology Co., Ltd.
11.13.1. Company Overview
11.13.2. Product/Service Landscape
11.13.3. Financial Overview
11.13.4. Recent Developments
11.14. General Electric Company
11.14.1. Company Overview
11.14.2. Product/Service Landscape
11.14.3. Financial Overview
11.14.4. Recent Developments
11.15. Signify Holding
11.15.1. Company Overview
11.15.2. Product/Service Landscape
11.15.3. Financial Overview
11.15.4. Recent Developments
The Grow Light Market has been segmented as below:
Grow Light Market, By Technology
Grow Light Market, By Installation Type
Grow Light Market, By Spectrum
Grow Light Market, By Application
Grow Light Market, By Region
Grow Light Market, By Company
