Published: Sep, 2018

The global market for grow light has intense competition among the manufactures and the service provider, observes Transparency Market Research (TMR). The prominent players in the market are making efforts to grow their geographical reach by investing in mergers and acquisitions. These players are also expanding their reach in emerging economies to grab opportunities in those regions. Prominent players in the global grow light market include Illumitex, LumiGrow Inc., Philips Lighting, General Electric Company, Heliospectra AB, OSRAM Licht Group, Gavita International B.V., and Sunlight Supply, Inc.

According to TMR, the global grow light market is expected to increase at 8.46% of CAGR during the forecast period 2017 to 2025. The valuation of the market is anticipated to reach US$6.59 bn by the end of 2025. 

global grow light marketOn the basis of technology, the LED segment is expected to lead the market owing to the vast advantages of LED lights. LED lights are energy efficient, long life, and provide accurate light for the growth of the plants. Geographically, Europe is leading the global grow light market and is projected to do so over the forecast period. The valuation for this market in Europe is expected to reach US$ 1.91 bn by the end of forecast tenure.

Growing Significance in Agriculture Sector will Boost Demand for Grow Lights

Technological advancements in grow lights are considered as one of the major driving factors. Growing significance of grow lights in several applications such as in the greenhouse, indoor farming, turf, and vertical farming has also benefited the grow light market. Rising government initiatives to make people aware of the benefits of using LED lights and running schemes on it will boost the demand for grow lights.

Grow light is also making a remarkable change in the agriculture sector. These lights help in cultivating plants in an enclosed environment or in places where there the light is insufficient. Farmers are largely benefitted as they can cultivate healthy plants irrespective of the weather conditions or the season. As the trend for indoor gardening is increasing, grow lights will be very effective for the growth of plants grow indoors.

Horticulture, food production, plant propagation, and hydroponics are some of the main areas where grow light is used on regular basis. Furthermore, the growing popularity of vertical farming and farming within cities have grown demand for grow lights at a tremendous rate. The use of these lights will further rise the production of crops regardless of the availability of fertile land or climate. Numerous types of lights are used to create a fitting light spectrum that can support the process of photosynthesis in plants.

Several Skin Diseases to Obstruct Market Growth

Despite the positive factor mentioned above, there are certain restraints that may limit the growth of grow lights. Longer exposure in LED lights has caused itchiness, minor headache, and redness in eyes. According to the American Medical Association (AMA) states that the use of these lights may impact human health. Although AMA does supports energy efficient and environment-friendly lights but not by compromising one’s health. On the other hand, with constant research and development practices in grow light market will minimize these side effects and assist the growth of grow lights in near future. 

The information presented in this review is based on a TMR report, titled “Grow Light Market (Technology - LED, Fluorescent, and High Intensity Discharge (HID); Application - Indoor Farming, Vertical Farming, Greenhouse, Research, and Turf) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2017–2025.”

The Global Grow Light Market has been segmented as presented below:

Global Grow light market, by Technology

  • LED
  • Fluorescent
  • High Intensity Discharge (HID)
  • Others

Global Grow light market, by Application

  • Indoor Farming
  • Vertical Farming
  • Greenhouse
  • Research
  • Turf
  • Others

Global Grow light market, by Geography

  • North America
    • The U.S.
    • Canada
    • Rest of North America
  • Europe
    • The U.K
    • Germany
    • The Netherlands
    • Rest of Europe
  • Asia Pacific (APAC)
    • India
    • Japan
    • China
    • Rest of APAC
  • Middle East and Africa (MEA)
    • GCC Countries
    • South Africa
    • Rest of MEA
  • South America
    • Brazil
    • Rest of South America

About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through ad hoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.

Contact

90 State Street, Suite 700

Albany, NY 12207

Tel: +1-518-618-1030

USA - Canada Toll Free: 866-552-3453

Email: sales@transparencymarketresearch.com

Website: https://www.transparencymarketresearch.com

.