Global Grow Light Market to be Worth $19.12 Billion in 2032 at 14.7% CAGR

In 2021, the global grow light market was valued at 4.23 million. It is predicted to grow at a CAGR of 14.7% between 2022-2032.

The market for LED grow lights for agriculture is expected to witness a robust growth rate over the forecast period. The increased use of solid-state lighting technology and controlled environmental agriculture practices will drive the growth of the market. investing in vertical farms and greenhouses will also contribute to market growth. The market for LED growth lights will be impacted by the legalization of cannabis cultivation in various parts of the world. Indoor farming is increasing the demand for LED grow lights. There is a myriad of grow light options available on the market today, including fluorescent lights such as LED grow lights, as well as high-pressure sodium, grow lights. LED grow lights consume less energy.

LED lighting is more efficient as urban farming expands. Indoor farming is a growing industry that produces fresh and nutritious vegetables. This will drive the demand for LED to grow lights. Demand for LED lights from the poultry sector is also driving the development of LED lights for agriculture. To boost the growth of chickens, LED grow lights are a great choice for poultry farmers. LED grow lamps have been proven to increase egg production and chickens of higher quality.

Factors that Drive You:

Grow lights perform better than conventional lights due to their energy efficiency. Because of their distinct features like energy efficiency, cost-effectiveness, excellent color quality flexibility, affordability, and color, the lights of growth are highly desired. Indoor farming requires top-quality grow lights. Light is essential for indoor gardening. There are numerous benefits and benefits to growing lights that will ultimately drive market demand. Grow lights are required for horticulture.

Due to their high concentrations of metal-halide and sodium, the global demand for growth lamps is high. Every region is seeing an increase in indoor farming. Indoor farming is a significant demand generator for grow lamps. The growing trend of indoor farming is encouraging several industries to employ grow lights. The environmental benefits are driving its development. Government initiatives and the growing market for indoor farming are the key drivers of the market's development.

Market Restraints Factors to Increase Light:

The need for grow lighting is increasing as more and more people are more conscious of the many advantages it has to offer. Many artificial lighting sources have been previously used for vertical and indoor farming. Artificial lights don't come without their drawbacks. This has led to a growing market of grow lights. Grow lights overcome the limitation of artificial lighting, like fluorescent or electric ballasts. The most significant issue is the cost of the initial investment of grow light. As far as capital cost growing lights are more costly than artificial lights. The price of grow lights differs based on the specifications and power output. The high prices for grow lights restrict the market.

Market Trends for Grow Light:

Grow lights are essential for indoor farming. They are able to replace direct sunlight and mimic the effects. They can sometimes even surpass the effect of sunlight in some instances. Indoor cultivation lights are composed of three types: fluorescent lights HPS, HID, or HID lights, and LED lights.

The rise in indoor market development has been assisted by technological advances in the areas of grow lighting and cost-effective gardening systems.

Indoor grow lights provide the best blue and red wavelengths to allow plants to have healthy and large growth. The plants are able to sense the red light, and then release a hormone that helps to prevent the destruction of chlorophyll. The red light can produce healthy, large, and healthy plants along with fruits and seeds. You can regulate the amount of red light being given to plants with grow lights. A lot of red light could cause spindly and lanky plants.

Recent Developments:

Valoya has come up with a new LED lighting range to help grow plants in greenhouses. The light can intensify, and the new model is available with several different alternatives.

Valoya's RX-Series series of LEDs for greenhouses has been expanded by two new models: the RX500- and the RX600-series. These new models can be used as replacements for HPS 1-1 with an impressive 1700 umol/s of uniform light output. They can be put up to 4 meters over the canopy due to their high intensity of light.

Market Key Players:

AeroFarms Everlight Electronics Co. LTD., Lumigrow, Inc., Illumitex Inc., Epistar Corporation, Bridgelux, Inc., Heliospectra AB, Hortilux Schreder, Illumitex, Black Dog Grow Technologies Inc., LumiGrow Inc, Gavita International B.V., Bridgelux Inc., Gavita Holland bv, Samsung Electronics Co. Ltd., Royal Philips Electronics N.V., Osram Licht AG, and Other Key Players

Grow Light Market Segmentation:

Market.US has divided the market of grow light market by geography (North America and Europe, APAC and South America) as well as the Middle East, Africa, and the Middle East. The market is classified by Applications into vertical farming, indoor farming, commercial greenhouses, as well as other uses. The market can be further broken down by product into 300 Watt or 300 Watt. The market can be further divided by market into software and hardware. The market is divided by technology into high-intensity (hid), le, and fluorescent. The market can be divided by installation into retrofit as well as new installations. Spectrum can further split the market into a part or full spectrum.

Most Of The Time Asked Questions:

How much is the Grow Light Market?

The Grow Light Market was valued at USD 4.23 Billion in 2021. The market is expected to grow to $19.12 Billion by 2032.

What is Grow Light Market?

The Grow Light Market is expected to expand at a compound annual rate of 14.7 % between 2021 and 2032, reaching $19.12 Billion by 2032.

Which market segment had the biggest percentage of the Grow Light Market?

In 2021, Europe was the largest market, accounting for 32.05 percent of the world's growing light market. This is due to increasing awareness of alternative farming methods and decreasing land availability.

What are the drivers behind the Grow Light Market?

Vertical and urban agriculture are the key drivers of moderate market growth. Methods of production that are based on vegetables and are sustainable and organic are also being embraced.

Related Reports:

Global LED Grow Light Market By Type (Partial Spectrum, and Full Spectrum), By Application (Indoor Farming, Commercial Greenhouse, Vertical Farming, Turf Landscaping, and Research), By Region, and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2020-2029

View Full Research Report - LED Grow Light Market

Global Grow Light Market By Type (High-Intensity Discharge (HID), LED, Fluorescent), By Application (Indoor Farming, Vertical Farming), By Region, and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

View Full Research Report - Grow Light Market

Global LED Agricultural Grow Lights Market By Type (280 ~ 315nm, 315 ~ 400nm, 400 ~ 520nm, 520 ~ 610nm, 610 ~ 720nm, and ? 1000nm), By Application (Vegetable Irradiation, and The Landscaped Plant Irradiation), By Region and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2019-2028
 

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