Greenhouse Grow Light Market

Greenhouse Grow Light Market Size & Growth (2022 - 2027):

Greenhouse Grow Light Market Size was worth USD 2.33 billion in 2021 and estimated to be growing at a CAGR of 11.9%, to reach USD 4.26 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.

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.

GREENHOUSE GROW LIGHT MARKET REPORT COVERAGE:

Market Segmentation:

Greenhouse Grow Light Market – By Spectrum:

• Partial

• Spectrum
• Full-spectrum

Greenhouse Grow Light Market – By Installation:

• New installations
• Retrofit

Greenhouse Grow Light Market – By Technology:

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

Greenhouse Grow Light Market – By Application:

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

Geographical Analysis:

The market has also been geographically segmented into

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

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 Light in the Asia-Pacific area is amplifying because more of 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 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.