Asia-Pacific Greenhouse Grow Light Market was worth USD 1.21 Billion in 2021 and estimated to be growing at a CAGR of 14.2%, to reach USD 1.98 billion by 2026. Grow lights, particularly LEDs are used in a huge range of farming-related applications, owing to the advantages they offer such as high low power consumption, reliability, and spectral intensity.
A greenhouse is a house made of glass. It has glass walls and a glass roof. People grow tomatoes and flowers and other plants in them. A greenhouse stays warm inside, even during winter. Sunlight shines in and warms the plants and air inside.
The growth of the Asia-Pacific Greenhouse Grow Light Market is mainly driven by the rise in adoption of greenhouses, owing to rapid innovation in technology and rising disposable incomes of people willing to invest in farming. Technological innovations have further helped in lowering the costs of necessary Grow Light which aids in increasing the feasibility of owning a greenhouse. The adoption of greenhouse adoption technologies and encouragement from governments also act as drivers of market growth.
The Asia-Pacific Greenhouse Grow Light market is segmented on the basis of spectrum, installation, technology, application, and by region. On the basis of spectrum, the market is segmented into partial spectrum and full spectrum. On the basis of installation, the market is categorised into new installations and retrofit. On the basis of technology, the market is segmented into high-intensity discharge, fluorescent lighting, LED and others. On the basis of application, the market is segmented into indoor farming, vertical farming, commercial greenhouse, TURF and landscaping, research, and other applications.
The Asia-Pacific region is geographically segmented into China, India, Japan, South Korea, and Australia. Asia-Pacific is predicted to grow with the highest CAGR during the forecast period. Factors such as growing awareness and supportive government policies, coupled with the rapid growth in disposable incomes and technology are anticipated to lead the growth of the market in this region.
Major Key Players:
The major players operating in the Global Greenhouse Grow Light industry include Royal Philips, General Electric Company, Osram Licht AG, Gavita Holland B.V, Lumigrow Inc., Heliospectra Ab., Iwasaki Electric Co., Ltd., Illumitex Inc., Hortilux Schreder B.V., and Sunlight Supply Inc.
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Spectrum
5.1.1 Introduction
5.1.2 Partial Spectrum
5.1.3 Full Spectrum
5.1.4 Y-o-Y Growth Analysis, By Spectrum
5.1.5 Market Attractiveness Analysis, By Spectrum
5.1.6 Market Share Analysis, By Spectrum
5.2 Installation
5.2.1 Introduction
5.2.2 New Installation
5.2.3 Retrofit
5.2.4 Y-o-Y Growth Analysis, By Installation
5.2.5 Market Attractiveness Analysis, By Installation
5.2.6 Market Share Analysis, By Installation
5.3 Application
5.3.1 Introduction
5.3.2 Indoor Farming
5.3.3 Vertical Farming
5.3.4 Greenhouse
5.3.5 TURF and Landscaping
5.3.6 Other Applications
5.3.7 Y-o-Y Growth Analysis, By Application
5.3.8 Market Attractiveness Analysis, By Application
5.3.9 Market Share Analysis, By Application
5.4 Technology
5.4.1 Introduction
5.4.2 High-Intensity Discharge
5.4.2.1 High Pressure Sodium Lamp
5.4.2.2 Metal Halide Lamp
5.4.3 Fluorescent Lighting
5.4.3.1 T5
5.4.3.2 CFL
5.4.4 LED
5.4.5 Other Technologies
5.4.6 Y-o-Y Growth Analysis, By Technology
5.4.7 Market Attractiveness Analysis, By Technology
5.4.8 Market Share Analysis, By Technology
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Spectrum
6.1.3.3 By Installation
6.1.3.4 By Application
6.1.3.5 By Technology
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Spectrum
6.1.4.3 By Installation
6.1.4.4 By Application
6.1.4.5 By Technology
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Spectrum
6.1.5.3 By Installation
6.1.5.4 By Application
6.1.5.5 By Technology
6.2 China
6.3 India
6.4 Japan
6.5 South Korea
6.6 Australia
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Royal Philips
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 General Electric Company
8.3 Osram Licht AG
8.4 Gavita Holland B.V
8.5 Lumigrow Inc
8.6 Heliospectra Ab
8.7 Iwasaki Electric Co
8.8 Illumitex Inc
8.9 Hortilux Schreder B.V
8.10 Sunlight Supply
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
