Report Feature
The future of the grow light market looks promising with opportunities in the indoor farming, commercial greenhouse, and vertical farming applications. The global grow light market is expected to grow with a CAGR of 20% to 22% from 2020 to 2025. The major growth drivers for this market are increasing demand for indoor farming in urban areas and increasing government support towards the adoption of LED lights.
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Growth in various segments of the grow light market are given below:
The study includes trends and forecast for the global grow light market by light source, installation type, application and region as follows:
By Light Source [$M shipment analysis for 2014 – 2025]:
- HID
- LED
- Fluorescent
By Installation Type [$M shipment analysis for 2014 – 2025]:
- New Installation
- Retrofit
By Application [$M shipment analysis for 2014 – 2025]:
- Indoor Farming
- Commercial Greenhouse
- Vertical Farming
- Others
By Region [$M shipment analysis for 2014 – 2025]:
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of the World
Some of the grow light manufacturers profiled in this report include, Koninklijke Philips N.V., Osram Licht AG, General Electric Company, Heliospectra AB, Dool Industries, Illumitex Inc., Gavita International B.V., Lumigrow Inc., Iwasaki Electric Co. Ltd., Sunlight Supply Inc., Hydrofarm Inc., and Fluence Bioengineering Inc.
In this market, High intensity Discharge (HID) lights, Light Emitting Diodes (LED), and fluorescent are the major sources used.
Within this market, commercial greenhouse is expected to remain the largest application over the forecast period due to increased automation in the last decade of its and the concept of controlled environment agriculture (CEA) is being implemented in greenhouses to maintain optimum growing conditions and obtain a higher yield.
Europe is expected to remain largest market during the forecast period due to the growing awareness regarding the importance of alternative farming, owing to the less availability of fertile agricultural land and increasing population.
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Features of the Global Grow Light Market |
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This report answers following key questions |
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Q.1 What are some of the most promising potential, high-growth opportunities for the grow light market by light source (HID, LED, fluorescent), installation type (new installation, retrofit), application (indoor farming, commercial greenhouse, vertical farming, and others) and region (North America, Europe, Asia Pacific (APAC), and Rest of the World (ROW))? Q. 2 Which segments will grow at a faster pace and why? Q.3 Which regions will grow at a faster pace and why? Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market? Q.5 What are the business risks and threats to the grow light market? Q.6 What are emerging trends in grow light market and the reasons behind them? Q.7 What are some changing demands of customers in the grow light market? Q.8 What are the new developments in the grow light market? Which companies are leading these developments? Q.9 Who are the major players in this grow light market? What strategic initiatives are being implemented by key players for business growth? Q.10 What are some of the competitive products and processes in this grow light market, and how big of a threat do they pose for loss of market share via material or product substitution? Q.11 What M & A activities did take place in the last five years in this, grow light market? |
| Key Features | Description |
| Base Year for Estimation | 2019 |
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Trend Period (Actual Estimates) |
2014-2019 |
| Forecast Period | 2020-2025 |
| Pages | More than 150 |
| Market Representation / Units | Revenue in US $ Million |
| Report Coverage | Market Trends & Forecasts, Competitor Analysis, New Product Development, Company Expansion, Merger, Acquisitions & Joint Venture, and Company Profiling |
| Market Segments | by Light Source (HID, LED, Fluorescent), Installation Type (New Installation, Retrofit), Application (Indoor Farming, Commercial Greenhouse, Vertical Farming, and Others) |
| Regional Scope | North America (USA, Mexico, and Canada), Europe (UK, Germany, and Italy), Asia (China, India, Japan, South Korea), and ROW |
| Customization | 10% Customization without Any Additional Cost |
Table of Contents
1. Executive Summary
4.1 Global Grow Light Market by Region
4.2.1 Market by Light Source: HID, LED, and Fluorescent
4.2.2 Market by Installation Type: New Installation, Retrofit
4.2.3 Market by Application: Indoor Farming, Commercial Greenhouse, Vertical Farming, Others
4.2.4 United States Grow Light Market
4.2.5 Canadian Grow Light Market
4.2.6 Mexican Grow Light Market
4.4.1 Market by Light Source: HID, LED, and Fluorescent
4.4.2 Market by Installation Type: New Installation, Retrofit
4.4.3 Market by Application: Indoor Farming, Commercial Greenhouse, Vertical Farming, Others
4.4.4 China Grow Light Market
4.4.5 Japan Grow Light Market
4.4.6 South Korea Grow Light Market
4.4.7 India Grow Light Market
Methodology
Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
- In-depth interviews of the major players in this market
- Detailed secondary research from competitors’ financial statements and published data
- Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
- A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.
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