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$14.3 Billion Worldwide Grow Light Industry to 2030 - Featuring Aerofarms, Everlight Electronics, Gavita Holland and Heliospectra Among Others

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Global Grow Light Market

Global Grow Light Market
Global Grow Light Market

Dublin, Nov. 15, 2022 (GLOBE NEWSWIRE) -- The "Grow Light Market Size, Share & Trends Analysis Report by Application (Indoor Farming, Vertical Farming, Commercial Greenhouse), by Product, by System, by Technology, by Installation, by Spectrum, and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.

The global grow light market size is anticipated to reach USD 14.31 billion by 2030, growing at a CAGR of 15.0%. The increased use of vertical farming and indoor cultivation, for producing crops, is likely to spur the market demand over the forecast period.

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 the season.

According to the UN, by 2050, around 80 percent of the world's population will live in cities. People continuously move into cities to get access to training, service, jobs, culture and entertainment, and all the other things cities offer. This means that the demand for food is increasing in these areas at the same time as the availability of arable land around cities is very limited.

Artificial lighting 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 can extend the availability of crops (throughout a season). LED lighting systems produce dual-band color spectrum and generate low heat. They are anticipated to witness significant growth over the forecast period.

The U.S. government has increasingly started to legitimize cannabis plantations across various states. With this initiative, cannabis cultivation is on the verge to become a big business in some parts of the country. Cannabis growers prefer Controlled-Environment Agriculture (CEA) to enhance product quality and yield. This setup consumes a high amount of electricity. As government officials and power companies are trying to convert this into a green industry, they are encouraging the use of LEDs to reduce power consumption and greenhouse gas emissions.

Grow Light Market Report Highlights

  • The escalating urban population and lack of arable land around cities is expected to drive the market.

  • The plasma technology segment is expected to portray high growth rate with a CAGR of 21.9% over the projected period.

  • New installations and replacement lights, increasing urban cultivation, increasing vertical farming and government initiatives are expected to be the drivers of the market over the forecast period.

  • The Asia Pacific regional market is expected to have significant growth over the forecast period, owing to the technological advancement and commercial vertical farms.

Key Topics Covered:

Chapter 1 Methodology and Scope

Chapter 2 Executive Summary

Chapter 3 Industry Outlook
3.1 Market Segmentation &Scope
3.2 Grow Light Market Size and Growth Prospects
3.3 Grow Light-Value Chain Analysis
3.4 Market Dynamics
3.4.1 Market driver analysis
3.4.1.1 New installations and replacement lights
3.4.1.2 Increasing urban cultivation
3.4.1.3 Increasing indoor cultivation & vertical farming
3.4.1.4 Government initiatives to adopt energy-efficient LEDs
3.4.2 Market restraint analysis
3.4.2.1 High costs of energy-efficient grow lights
3.5 Key Opportunities-Prioritized
3.6 Grow Lights- Key Company Analysis, 2021
3.6.1 Key company analysis, 2021
3.6.2 List of Market Players
3.7 Industry Analysis-Porter's
3.8 Grow Light-PESTEL Analysis
3.9 COVID Impact Analysis on Grow Light Market

Chapter 4 Grow Light Market: Application Estimates & Trend Analysis
4.1 Grow Light Market: Application Movement Analysis, 2021 & 2030
4.2 Indoor Farming
4.2.1. Global market estimates and forecasts, 2017-2030 (USD Million)
4.3 Vertical Farming
4.3.1. Global market estimates and forecasts, 2017-2030 (USD Million)
4.4 Commercial Greenhouse
4.4.1. Global market estimates and forecasts, 2017-2030 (USD Million)
4.5 Others
4.5.1 Global market estimates and forecasts, 2017-2030 (USD Million)

Chapter 5 Grow Light Market: Product Estimates & Trend Analysis
5.1 Grow Light Market: Product Movement Analysis, 2021 & 2030
5.2 < 300 Watt
5.2.1. Global market estimates and forecasts, 2017-2030 (USD Million)
5.3 > 300 Watt
5.3.1. Global market estimates and forecasts, 2017-2030 (USD Million)

Chapter 6 Grow Light Market: System Estimates & Trend Analysis
6.1 Grow Light Market: System Movement Analysis, 2021 & 2030
6.2 Hardware
6.2.1. Global market estimates and forecasts, 2017-2030 (USD Million)
6.3 Software
6.3.1. Global market estimates and forecasts, 2017-2030 (USD Million)

Chapter 7 Grow Light Market: Technology Estimates & Trend Analysis
7.1 Grow Light Market: Technology Movement Analysis, 2021 & 2030
7.2 High Intensity Discharge (HID)
7.2.1. Global market estimates and forecasts, 2017-2030 (USD Million)
7.3 LED
7.3.1. Global market estimates and forecasts, 2017-2030 (USD Million)
7.4 Fluorescent
7.4.1. Global market estimates and forecasts, 2017-2030 (USD Million)
7.5 Plasma
7.5.1. Global market estimates and forecasts, 2017-2030 (USD Million)

Chapter 8 Grow Light Market: Installation Estimates & Trend Analysis
8.1 Grow Light Market: Installation Movement Analysis, 2021 & 2030
8.2 New Installation
8.2.1. Global market estimates and forecasts, 2017-2030 (USD Million)
8.3 Retrofit
8.3.1. Global market estimates and forecasts, 2017-2030 (USD Million)

Chapter 9 Grow Light Market: Spectrum Estimates & Trend Analysis
9.1 Grow Light Market: Spectrum Movement Analysis, 2021 & 2030
9.2 Partial Spectrum
9.2.1. Global market estimates and forecasts, 2017-2030 (USD Million)
9.3 Full Spectrum
9.3.1. Global market estimates and forecasts, 2017-2030 (USD Million)

Chapter 10 Grow Light Market: Regional Estimates & Trend Analysis

Chapter 11 Competitive Landscape
11.1 AeroFarms
11.1.1 Company overview
11.1.2 Product benchmarking
11.2 EVERLIGHT ELECTRONICS CO., LTD.
11.2.1 Company overview
11.2.2 Financial performance
11.2.3 Product benchmarking
11.3 GAVITA Holland bv
11.3.1 Company overview
11.3.2 Product benchmarking
11.4 Heliospectra AB
11.4.1 Company overview
11.4.2 Financial Performance
11.4.3 Product benchmarking
11.4.4 Recent Developments
11.5 Hortilux Schreder
11.5.1 Company overview
11.5.2 Product benchmarking
11.6 Illumitex
11.6.1 Company overview
11.6.2 Product benchmarking
11.7 LumiGrow Inc
11.7.1 Company overview
11.7.2 Product benchmarking
11.7.3 Recent developments
11.8 Osram Licht AG
11.8.1 Company overview
11.8.2 Financial Performance
11.8.3 Product benchmarking
11.9 Philips Lighting
11.9.1 Company overview
11.9.2 Financial Performance
11.9.3 Product benchmarking
11.9.4 Recent Developments
11.10 Sunlight Supply, Inc.
11.10.1 Company overview
11.10.2 Product benchmarking

For more information about this report visit https://www.researchandmarkets.com/r/46y5qs

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