Global Greenhouse Grow Light Market Size, Share, Trends, COVID-19 Impact & Growth Forecast Report – Segmented By Spectrum (partial, Full), Installation (new, Retrofit), Technology (high-intensity Discharge, Fluorescent, LED, Others), Application (indoor Farming, Vertical Farming, Greenhouse, Others) And By Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa) - Industry Analysis From 2024 to 2029

Updated On: June, 2024
ID: 4719
Pages: 185

Global Greenhouse Grow Light Market Size (2024 to 2029)

The global greenhouse-growth light market size is expected to reach USD 3.264 billion in 2024 and reach USD 5.727 billion by 2029, growing at a CAGR of 11.9% from 2024 to 2029.

Current Scenario of the Global Grow Light Market

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.

Market Drivers

The growth of the greenhouse grow light market is majorly driven by the rise in the 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.

REPORT COVERAGE

REPORT METRIC

DETAILS

Market Size Available

2023 to 2029

Base Year

2023

Forecast Period

2024 to 2029

CAGR

11.9%

Segments Covered

By Spectrum, Installation, Technology, Application, and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

Royal Philips, General Electric Company, Osram Licht AG, Gavita Holland B.V, Lumigrow Inc., Heliospectra Ab., Iwasaki Electric Co., Ltd., Illumitex Inc.

REGIONAL ANALYSIS

In 2015, Europe led the global greenhouse grow light market in terms of market share., owing to the beginning of greenhouse culture in Europe because of favorable climate conditions. The market for these Greenhouse Grow Lights in the Asia-Pacific area is amplifying because of more supportive government policies and increasing demand for greenhouses. The Asia-Pacific and other rising nations are foreseen to develop at a quick pace in the Greenhouse Grow Light market in the following years when compared with the seasoned markets of developed regions.

KEY MARKET 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.

DETAILED SEGMENTATION OF THE GLOBAL GREENHOUSE GROW LIGHT MARKET INCLUDED IN THIS REPORT

This research report on the global greenhouse grow light market is segmented and sub-segmented into the following categories.

By Spectrum

  • Partial
  • Spectrum
  • Full-spectrum

By Installation

  • New installations
  • Retrofit

By Technology

  • High-intensity discharge
  • Fluorescent lighting
  • LED and others

By Application

  • Indoor farming
  • Vertical farming
  • Commercial greenhouse
  • TURF and landscaping research
  • Other applications

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle-East & Africa

Please wait. . . . Your request is being processed

Access the study in MULTIPLE FORMATS
Purchase options starting from $ 1800

Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM

Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!

REACH OUT TO US

Call us on: +1 888 702 9696 (U.S Toll Free)

Write to us: [email protected]

Click for Request Sample