Grow Lights Market, By Light Source (High-intensity Discharge (HID) Lights, Light Emitting Diodes, Fluorescent Lights, and Other Light Sources), By Installation Type (New Installations, and Retrofit Installations), By Application (Indoor Farming, Vertical

Grow Lights Market, By Light Source (High-intensity Discharge (HID) Lights, Light Emitting Diodes, Fluorescent Lights, and Other Light Sources), By Installation Type (New Installations, and Retrofit Installations), By Application (Indoor Farming, Vertical Farming, Commercial Greenhouse, and Other Applications), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

The use of LEDs for grow lights reduces the cost of maintenance. Unlike traditional grow lights, LEDs use low power and emit low heat radiations, and therefore, they can be used in indoor environments. The average LED grow light will draw 32 watts to cover a square foot. This is the same amount of energy used by a typical High Pressure Sodium (HPS) bulb. However, LEDs don't emit the heat that HIDs do. They can be up to 30 times more efficient. Some grow lights offer on-board scheduling, which allows user to program schedules for their lights. This is a great feature as it eliminates the need for an external timer.

Moreover, a number of new innovative products are making their way into the market. These include the dimming controller, which allows growers to customize wavelengths that are transmitted to plants.

Market Dynamics:

The increase in urban agriculture is expected to have a positive impact on the global grow lights market. Furthermore, increasing investment in the agricultural sector, especially in vertical farming, is anticipated to have a beneficial impact on the grow light industry. The rise in consumer interest in LED technology has been a key factor in driving the development of the global grow lights market.

However, high initial investment and lack of standardization is expected to hamper the growth of the market. Increasing awareness of alternative farming practices will be another factor boosting the growth of the industry.

Key features of the study:

  • This report provides in-depth analysis of the global grow lights market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2022-2030), considering 2021 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global grow lights market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
  • Key companies covered as a part of this study include Epistar Corporation, Signify, Hydro Grow, Savant Systems Inc., Iwasaki Electric Co. Ltd., Heliospectra AB, Everlight Electronics Co. Ltd., OSRAM Licht AG, LumiGrow Inc., and Illumitex Inc.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The global grow lights market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global grow lights market
Detailed Segmentation:
  • Global Grow Lights Market, By Light Source:
  • High-intensity Discharge (HID) Lights
  • Light Emitting Diodes
  • Fluorescent Lights
  • Other Light Sources
  • Global Grow Lights Market, By Installation Type:
  • New Installations
  • Retrofit Installations
  • Global Grow Lights Market, By Application:
  • Indoor Farming
  • Vertical Farming
  • Commercial Greenhouse
  • Other Applications
  • Global Grow Lights Market, By Geography:
  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa
  • Company Profiles:
  • Epistar Corporation,
  • Signify, Hydro Grow
  • Savant Systems Inc., Iwasaki Electric Co. Ltd.
  • Heliospectra AB
  • Everlight Electronics Co. Ltd.
  • OSRAM Licht AG
  • LumiGrow Inc.
  • Illumitex Inc.
  • Others


1. Research Objectives and Assumptions
Research Objectives
Assumptions
Abbreviations
2. Market Purview
Report Description
Market Definition and Scope
Executive Summary
Market Snapshot, By Light Source
Market Snapshot, By Installation Type
Market Snapshot, By Application
Market Snapshot, By Region
Coherent Opportunity Map (COM)
3. Market Dynamics, Regulations, and Trends Analysis
Market Dynamics
Drivers
Growing adoption of indoor farming practices
Surge in the number of startups innovating novel technologies
Restraints
Changing lighting needs for different crops
High cost of setup and maintenance
Opportunities
Penetration of advanced technologies such as IoT, Artificial Intelligence, and robotics in farming technologies
Impact Analysis
Key Highlights
Regulatory Scenario
Product launch/Approvals
PEST Analysis
PORTER’s Analysis
Merger and Acquisition Scenario
4. Global Grow Lights Market – Impact of Coronavirus (COVID-19) Pandemic
COVID-19 Epidemiology
Supply Side and Demand Side Analysis
Economic Impact
5. Global Grow Lights Market , By Light Source, 2017-2030, (US$ Mn)
Introduction
Market Share Analysis, 2022 and 2030 (%)
Y-o-Y Growth Analysis, 2017 – 2030
Segment Trends
High-intensity Discharge (HID) Lights
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2017-2030,(US$ Mn)
Light Emitting Diodes
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2017-2030,(US$ Mn)
Fluorescent Lights
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2017-2030,(US$ Mn)
Other Light Sources
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2017-2030,(US$ Mn)
6. Global Grow Lights Market, By Installation Type, 2017-2030, (US$ Mn)
Introduction
Market Share Analysis, 2022 and 2030 (%)
Y-o-Y Growth Analysis, 2017 – 2030
Segment Trends
New Installations
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2017-2030,(US$ Million)
Retrofit Installations
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2017-2030,(US$ Million)
7. Global Grow Lights Market, By Application, 2017-2030, (US$ Mn)
Introduction
Market Share Analysis, 2022 and 2030 (%)
Y-o-Y Growth Analysis, 2017 – 2030
Segment Trends
Indoor Farming
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2017-2030,(US$ Million)
Vertical Farming
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2017-2030,(US$ Million)
Commercial Greenhouse
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2017-2030,(US$ Million)
Other Applications
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2017-2030,(US$ Million)
8. Global Grow Lights Market, By Region, 2017-2030, (US$ Mn)
Introduction
Market Share Analysis, By Country, 2022 and 2030 (%)
Y-o-Y Growth Analysis, For Country 2017 – 2030
Country Trends
North America
Introduction
Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2017-2030,(US$ Mn)
Market Size and Forecast, and Y-o-Y Growth, By End User, 2017-2030,(US$ Mn)
Europe
Introduction
Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2017-2030,(US$ Mn)
Market Size and Forecast, and Y-o-Y Growth, By End User, 2017-2030,(US$ Mn)
Asia Pacific
Introduction
Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2017-2030,(US$ Mn)
Market Size and Forecast, and Y-o-Y Growth, By End User, 2017-2030,(US$ Mn)
Latin America
Introduction
Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2017-2030,(US$ Mn)
Market Size and Forecast, and Y-o-Y Growth, By End User, 2017-2030,(US$ Mn)
Middle East & Africa
Introduction
Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2017-2030,(US$ Mn)
Market Size and Forecast, and Y-o-Y Growth, By End User, 2017-2030,(US$ Mn)
Rest of World
Introduction
Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2017-2030,(US$ Mn)
Market Size and Forecast, and Y-o-Y Growth, By End User, 2017-2030,(US$ Mn)
9. Competitive Landscape
Signify
Company Highlights
Product Portfolio
Key Developments
Financial Performance
Strategies
Savant Systems Inc.
Company Highlights
Product Portfolio
Key Highlights
Financial Performance
Strategies
Heliospectra AB
Company Highlights
Product Portfolio
Key Highlights
Financial Performance
Strategies
OSRAM Licht AG
Company Highlights
Product Portfolio
Key Highlights
Financial Performance
Strategies
Illumitex Inc.
Company Highlights
Product Portfolio
Key Highlights
Financial Performance
Strategies
LumiGrow Inc.
Company Highlights
Product Portfolio
Key Highlights
Financial Performance
Strategies
Everlight Electronics Co. Ltd.
Company Highlights
Product Portfolio
Key Highlights
Financial Performance
Strategies
Iwasaki Electric Co. Ltd.
Company Highlights
Product Portfolio
Key Highlights
Financial Performance
Strategies
HydrGrow
Company Highlights
Product Portfolio
Key Highlights
Financial Performance
Strategies
Epistar Corporation
Company Highlights
Product Portfolio
Key Highlights
Financial Performance
Strategies
Analyst Views
10. Section
Research Methodology
About us
*Browse 24 market data tables and 28 figures on “Global Grow Lights Market” - Global forecast t2030

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