Global Grow Light Market Growth 2023-2029

Global Grow Light Market Growth 2023-2029

Grow light is an artificial light source, generally an electric light, designed to stimulate plant growth by emitting a light appropriate for photosynthesis. Grow lights are used in applications where there is either no naturally occurring light, or where supplemental light is required.

LPI (LP Information)' newest research report, the “Grow Light Industry Forecast” looks at past sales and reviews total world Grow Light sales in 2022, providing a comprehensive analysis by region and market sector of projected Grow Light sales for 2023 through 2029. With Grow Light sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Grow Light industry.

This Insight Report provides a comprehensive analysis of the global Grow Light landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Grow Light portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Grow Light market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Grow Light and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Grow Light.

The global Grow Light market size is projected to grow from US$ 4406.4 million in 2022 to US$ 9560.8 million in 2029; it is expected to grow at a CAGR of 9560.8 from 2023 to 2029.

United States market for Grow Light is estimated to increase from US$ million in 2022 to US$ million by 2029, at a CAGR of % from 2023 through 2029.

China market for Grow Light is estimated to increase from US$ million in 2022 to US$ million by 2029, at a CAGR of % from 2023 through 2029.

Europe market for Grow Light is estimated to increase from US$ million in 2022 to US$ million by 2029, at a CAGR of % from 2023 through 2029.

Global key Grow Light players cover AeroFarms, Royal Philips, General Electric, Osram Licht, Gavita Holland, Lumigrow, Heliospectra, Iwasaki Electric and Illumitex, etc. In terms of revenue, the global two largest companies occupied for a share nearly % in 2022.

This report presents a comprehensive overview, market shares, and growth opportunities of Grow Light market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type
High Intensity Discharge(HID)
LED
Fluorescent
Plasma

Segmentation by application
Indoor Farming
Vertical Farming
Commercial Greenhouse
Others

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
AeroFarms
Royal Philips
General Electric
Osram Licht
Gavita Holland
Lumigrow
Heliospectra
Iwasaki Electric
Illumitex
Hortilux Schreder
Sunlight Supply

Key Questions Addressed in this Report

What is the 10-year outlook for the global Grow Light market?

What factors are driving Grow Light market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Grow Light market opportunities vary by end market size?

How does Grow Light break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.