Grow Lights Market size worth $ 8,480 Million, Globally, by 2028 at 32.24% CAGR: Verified Market Research®

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Verified Market Research recently published a report, “Grow Lights Market” By Product (High-Intensity Discharge (HID), LED, Fluorescent), By Application (Indoor Farming, Vertical Farming, Commercial Greenhouse), and By Geography. According to Verified Market Research, the Global Grow Lights Market size was valued at USD 907.78 Million in 2020 and is projected to reach USD 8,480 Million by 2028, growing at a CAGR of 32.24% from 2021 to 2028.

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Browse in-depth TOC on “Grow Lights Market

202 – Pages

126 – Tables

37 – Figures

Global Grow Lights Market Overview

Grow Lights are in high demand owing to their unique characteristics such as durability, energy consumption, color quality, and cost-effectiveness. LED Grow Lights have a number of advantages over traditional lighting systems, including increased energy efficiency and a longer lifespan. Grow Lights can be adjusted to fit the requirements of the plants. Plant growth and development will be aided by the usage of several types of Grow Lights. To obtain the overall light spectrum for plants, growers have blended HID lights such as high-pressure sodium (HPS) lamps with metal-halide (MH) lamps.

LEDs are widely used these days since they eliminate the drawbacks of HPS, fluorescent (FL), metal-halide, and electric ballast lighting. The environmental benefits of the grow light industry are one of the main reasons for its expansion. As a result, the grow-light industry is being propelled forward by government programs and fast-expanding indoor farming. All of these considerations have boosted the demand for horticulture lighting that is both energy-efficient and long-lasting.

The demand for LED-based grows lights is increasing as a result of the growing demand for vertical farms and greenhouses as a result of the legalization of cannabis cultivation. When cultivating cannabis in a sunless medium, a number of considerations must be made. For instance, the heat generated by HPS lights will destroy the produce. As a result, LEDs, which run at significantly lower temperatures, could be a viable choice for reducing the amount of heat produced. Grow Lights are also employed in a number of indoor farms in North America and Europe.

Key Developments in Grow Lights Market

  • In March 2021: AeroFarms, an indoor vertical farming company based in New Jersey, has agreed to merge with black check company Spring Valley Acquisition Corp. in order to go public on the Nasdaq stock exchange.
  • June 2021: Heliospectra AB, a global leader in intelligent lighting technology for greenhouse and controlled plant growth environments, has announced a new reseller partnership with AllGreenHydroponics.com, a company that specialises in indoor gardening equipment for hobbyists and commercial growers, to represent Heliospectra’s market-leading LED lighting and light control solutions for controlled environments agriculture.

Key Players

The major players in the market are AeroFarms, Royal Philips, General Electric, Osram Licht, Gavita Holland, Lumigrow, Heliospectra, Iwasaki Electric., Llumitex, and Sunlight Supply.

Verified Market Research has segmented the Global Grow Lights Market On the basis of Product, Application, and Geography.

  • Grow Lights Market, By Product
    • High-Intensity Discharge (HID)
    • LED
    • Fluorescent
    • Plasma
  • Grow Lights Market, By Application
    • Indoor Farming
    • Vertical Farming
    • Commercial Greenhouse
  • Grow Lights Market by Geography
    • North America
      • U.S
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • U.K
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • Rest of Asia Pacific
    • ROW
      • Middle East & Africa
      • Latin America

Browse Related Reports:

LED Grow Light Market By Product (<300 Watt and >300 Watt), By Installation Type (Retrofit and New Installation), By Spectrum (Partial Spectrum and Full Spectrum), By Application (Indoor Farming, Commercial Greenhouse, Vertical Farming, Turf and Landscaping, Research, and Others), By Geography, Forecast, 2020-2027

Western Blotting Market By Product (Instruments, Consumables), By Equipment (Irrigation Systems, Led Grow Light, HVAC, Control Systems), By End-User (Pharmaceutical And Biotechnology Companies, Academic And Research Institutes), By Geography, Forecast, 2020-2027

Hydroponics Market By Type (Aggregate Systems, Liquid Systems), By Crop Type (Vegetables, Fruits, Flowers), By Equipment (HVAC, LED Grow Lights, Irrigation Systems), By Geography, Forecast, 2020-2027

High End Greenhouse Market By Application (Commercial, Residential), By Crop Type (Vegetables, Fruits, Floriculture), By Vegetables (Tomato, Cucumber, Peppers), By Geography, Forecast, 2020-2027

Top Vertical Farming Systems Helping Grow Crops in Stacked Layers

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