Grow Lights Market

Grow Lights - Global Market Outlook (2018-2027)

4.5 (79 reviews)
Published: January 2020 ID: SMRC18692
4.5 (79 reviews)
Published: January 2020 ID: SMRC18692

This report covers the impact of COVID-19 on this global market

According to Stratistics MRC, the Grow Lights Market is accounted for $3.05 billion in 2018 and is expected to reach $9.72 billion by 2027 growing at a CAGR of 13.7% during the forecast period. Some of the factors such as growth in indoor farming practices, increasing number of plant factories, and need for sustainable development among growers driving the market growth. However, huge costs of energy-efficient and better quality grow lights, and requirement of different light spectrums for different crops are restraining the market.

A 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. Grow lights either attempt to provide a light spectrum similar to that of the sun, or to provide a spectrum that is more tailored to the needs of the plants being cultivated.

By technology, Light-Emitting Diode (LED) is estimated to have a lucrative growth because of the increase in demand for energy-efficient and economical grow lights among consumers and increasing government activities to support the adoption of LED lights over the globe. Based on geography, Asia Pacific is going to have a lucrative growth during the forecast period owing to the rapid growth in urban agriculture, such as vertical farming, greenhouses, and growth chambers. Countries, like Japan, Taiwan, and China are the major source of demand for grow lights in the region and are estimated to stay so over the forecast period.

Some of the key players in Global Grow Lights market include General Electric Company, Gavita Holland B.V., Iwasaki Electric Co., Ltd., Royal Philips Electronics BV, Heliospectra Ab., Osram Licht AG, Lumigrow Inc., Hortilux Schreder B.V., Illumitex Inc., Everlight Electronics Co. Ltd, Sunlight Supply Inc., Epistar Corp., Grow LED Hydro, and Signify NV.

Spectrums Covered:
• Partial Spectrum
• Full Spectrum

Light Sources Covered:
• High-pressure Sodium (HPS)
• Fluorescent Lights
• Light Emitting Diodes
• Other Light Sources

Installations Covered:
• New Installations
• Retrofit Installations

Technologies Covered:
• High-intensity Discharge (HID) Lights
• Fluorescent Lighting
• Light-Emitting Diode (LED)
• High-Intensity Discharge
• Other Technologies

Applications Covered:
• Commercial Greenhouse
• Research
• Indoor Farming
• TURF and Landscaping
• Vertical Farming
• Other Applications

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan      
o China      
o India      
o Australia
o New Zealand    
o South Korea     
o Rest of Asia Pacific  
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2017, 2018, 2019, 2023 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis, etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

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• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances.

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