Grow Light Market: Top Companies, Investment Trend, Growth & Innovation Trends by 2026

According to IMARC Group’s latest report, titled “Grow Light Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global grow light market reached a value of US$ 3.26 Billion in 2020. Looking forward, IMARC Group expects the global market to exhibit strong growth during 2021-2026.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

A grow light, or plant light, refers to an artificial light source that provides an electromagnet light spectrum to promote photosynthesis and accelerate growth in plants. It is available in fluorescent, high-intensity discharge (HID), light-emitting diodes (LED), and incandescent variants. Grow lights are primarily used for supplementing sunlight, color, and temperature to the crops and can be tailored according to a specific goal, such as flowering inhibition, anthocyanin accumulation, and enhanced rooting. Owing to this, they find extensive applications in vertical farming, indoor farming, commercial greenhouses, and landscaping.

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Significant growth in the agricultural sector, along with the rising popularity of vertical and indoor farming practices, is primarily driving the market growth. Besides this, the emergence of hydroponic farming systems has induced the usage of grow lights to provide an adequate amount of sunlight and prevent the plants from damage caused by insects and pests. Additionally, the growing demand for food due to the increasing population, coupled with the limited availability of cultivable land, is also catalyzing the adoption of grow lights in sustainable farming methods. Besides this, various technological innovations such as the integration of the Internet-of-Things (IoT) with smart grow lights are expected to further propel the global market for grow light in the coming years.

Grow Light Market 2021-2026 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the grow light market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

  • Epistar
  • Everlight Electronics
  • Gavita International B.V.
  • General Electric Company
  • Heliospectra AB
  • Illumitex Inc.
  • Koninklijke Philips N.V.
  • LumiGrow
  • Osram Licht AG
  • Shenzhen Juson Technology Co. Ltd.

Key Market Segmentation:

The report has segmented the global grow light market on the basis of technology, installation type, spectrum, application and region.

Breakup by Technology:

  • HID
  • LED
  • Fluorescent
  • Others

Breakup by Installation Type:

  • New Installations
  • Retrofit Installations

Breakup by Spectrum:

  • Full-Spectrum
  • Partial Spectrum

Breakup by Application:

  • Indoor Farming
  • Vertical Farming
  • Commercial Greenhouse
  • Turf and Landscaping
  • Others

Breakup by Region:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • Middle East and Africa

Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/grow-light-market

Key highlights of the report:                                                         

  • Market Performance (2015-2020)
  • Market Outlook (2021-2026)
  • Market Trends
  • Market Drivers and Success Factors
  • The Impact of COVID-19 on the Global Market
  • Value Chain Analysis
  • Structure of the Global Market
  • Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Email: sales@imarcgroup.com
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