Global Grow Light Market to Reach $19.12 Billion in 2032 at a 14.7% CAGR

The market for global grow light market was valued at USD 4.23 million. Between 2022-2032, it is anticipated to expand at a 14.7% CAGR.

The market for agricultural LED growth lights is expected to see a steady growth rate over the forecast period. The increased use of solid-state lighting technology as well as controlled environmental agriculture practices is expected to propel the growth of the market. The growth in the market will also be enhanced by increased investments in greenhouses and vertical farms. The growing demand for LED lights will be significantly impacted by the legalization of cannabis cultivation across different regions of the world. Indoor farming is increasing the demand for LED grow lights. There are numerous types of grow light options available on the market, such as fluorescent lights such as LED grow lights, as well as high-pressure sodium, grow lights. LED lights require less energy.

When urban agriculture becomes more widespread LED lighting will become more useful. Indoor farming has been an industry growing that is producing healthy and fresh vegetables. This will increase the demand for LED grow lights for agriculture. LED lights are also being developed for agriculture due to the increasing demand for poultry products. To improve the growth of chickens LED grow lights are a good option for poultry farmers. It has been proven that chickens that are raised under LED grow lights produce better quality and larger quantities of eggs.

Driving Factors:

Because they are energy efficient, these lights are more efficient than standard lights. Because of their unique characteristics such as energy efficiency and cost-effectiveness, excellent color quality, versatility, and affordability, grow lights are highly sought-after. Indoor farming requires high-end grow lights. Indoor plants require light. Grow lights come with many benefits and benefits that can drive market demand.

The demand in the world is huge for grow lights due to their large sodium and metal-halide levels. All regions are experiencing an increase in indoor farming. The indoor farming industry is a major market driver for grow lights. These trends encourage several industries to employ grow lights. The environmental benefits that come with it drive its development. The major drivers driving the growth-light market are the growing indoor farming sector and government initiatives.

Market Restraints, Factors for Growth Light

Increased awareness of the many advantages of lighting for growth is driving the demand for it. Numerous artificial lights have been used in the past for indoor and vertical farming. Artificial lighting has many disadvantages. This has resulted in a growing market for grow light. The grow-light overcomes the limitations of artificial lighting including fluorescent and electric ballasts. The most significant issue with grow lights is their cost-intensive initial cost. As far as capital cost growth lights are much more expensive than LEDs. The cost of grow lights varies depending on their specifications and power output. High prices of grow lights limit the market.

Market Trends for Grow Light:

Grow lights are needed for indoor farming. They are able to imitate direct sunlight. Sometimes, they even exceed sunlight in certain instances. There are three kinds of indoor cultivators' lights: HID or HPS development lights lighting, fluorescent lights, and LED lights.

Innovations in technology in the fields of grow light market and cost-effective gardening systems are among the aspects that have contributed to the increase in indoor market growth.

Indoor grow lights provide the highest blue and red wavelengths that allow plants to grow healthy and large growth. Plants detect red light and release a hormone that stops the destruction of chlorophyll. The red light could produce healthy, large-sized plants as well as fruit and seeds. Grow lights can be used to regulate how much red light is given to plants. A lot of red light could cause spindly or large plants.

Recent Developments:

Valoya has come up with a new LED lighting range for greenhouses that allow plants to grow. The light can intensify and the latest version comes with multiple replacements.

Valoya's RX-Series range of greenhouse LEDs has been expanded by two new models: the RX500- and the RX600-series. These new models can be used to replace HPS 1-1 and provide astounding 1700 umol/s continuous light output. Because of their luminosity, they can be placed as high as 4 meters over the canopy.

Market Key Players:

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

Market Segmentation for Grow Light:

Market.US has split the market of Grow Light by geography (North America and Europe, APAC and South America) as well as the Middle East, Africa, and the Middle East. The market is divided into three segments: vertical farming, indoor agriculture commercial greenhouses, and others. It is also segmented by product into 300 Watt and 300 Watt. The market is also broken down into hardware and software. The market could be split by technology into high-intensity (hid) Le, high-intensity, and fluorescent. Installation is also a way to divide the market into retrofits as well as new installations. The market is further divided by Spectrum into a partial spectrum and a full spectrum.

Frequently asked questions:

What is the size of the Grow Light Market?

In 2021 the market for Grow Light is estimated at USD 4.23 billion. It is projected to grow to $19.12 Billion in 2032.

What is Grow Light Market?

The Grow Light Market is expected to grow at a compound annual rate of 14.7 % between 2021-2032, reaching $19.12 billion in 2032.

Which segment accounted for the most of Grow Light Market's sales?

In 2021, Europe held 32.05 percent of the global grow light market. This could be due to the growing awareness of the significance of alternative farming in light of the shrinking supply of fertile land and the growing population.

What are the main factors that drive the Grow Light Market?

The primary factors behind the growth of the light market are urban cultivation and vertical agriculture as well as the growing use of organic and sustainable production methods for fruits and vegetables.

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