Grow Light Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

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Grow Light Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

Status : October, 2020 | Technology & Media | PPT format

Report Digest


Global Grow Light Market: Snapshot

In order to stimulate and power the growth of plants and seeds a specially designed artificial source of light is used which is known as grow light. They are also popularly known as plant lights; grow lights are used in conditions where naturally occurring light is not available or in cases where the artificial sources of light are required to augment the sunlight. Grow lights are widely used in vertical farms, commercial greenhouses, and in horticulture, applications to increase and improve the yield. Some of the major types of grow lights are high-intensity discharge grow lights, fluorescent grow lights, and light-emitting diode grows lights.

Grow light technology helps in extending the hours of the natural daylight which further increases the health, growth rate and yield of the plants. Artificial lighting, such as high-pressure sodium lighting, LED lighting and plasma lighting can extend the availability of crops throughout a season. Growing awareness regarding the importance of alternative farming, owing to the less availability of fertile agricultural land and increasing population, are the key factors anticipated to spur the industry demand.Unlike traditional farming, indoor farming can produce crops throughout the year, which results in increased productivity. Furthermore, indoor farming can protect crops from extreme weather conditions through the usage of techniques such as the controlled environment agriculture technology, where the facilities use artificial environmental control, control of light, and fertigation.

Global Grow Light Market: Overview 

A grow light is an artificial source of light energy, which is especially designed to stimulate and power the growth of plants and seeds. Popularly called plant lights, grow lights are used in situations where there is a lack of naturally occurring light or where artificial sources of light are required to supplement sunlight. Grow lights are widely used in commercial greenhouses, vertical farms, and a range of horticulture applications to better the yield. Some of the major types are fluorescent grow lights, high-intensity discharge (HID) grow lights, and light-emitting diode (LED) grow lights. The adoption of grow lights has gained traction in recent years, driven by the growing popularity of controlled environment agriculture (CEA) and the increased adoption of LED lighting. 

Global Grow Light Market: Key Trends 

Growth in indoor farming methods and soaring popularity of commercial greenhouses for cultivating plants are the key factors propelling the grow light market. Government regulations and intensive initiatives to support the adoption of solid state lighting (SSL) technologies, such as LED, across various regions have boosted the market. The increasing adoption of automation in commercial greenhouses has helped growers maximize their yield using grow lights, thereby accelerating their implementation in controlled environment agriculture practices. Efforts by manufacturers to speed up time-to-market for energy-efficient grow lights and the launch of customized products with specific intensity and wavelength are expected to open up lucrative avenues in the market. With vertical farming methods gathering steam in various developed nations, the grow light market is expected to witness numerous exciting opportunities for manufacturers. 

Global Grow Light Market: Market Potential

Noribachi, a U.S.-based LED technology manufacturing company focusing on clean lighting technologies for commercial applications, announced in April, 2017 the launch of its advanced, full-spectrum LED grow lights. The product line features a wide range of warehouse grow lights and DIY kits developed in its Northern California Growlab. The innovative and high-end LED grow light is used by farmers to facilitate the growth cycle of different types of fruits, vegetables, and flowers. The LED technology developed by Noribachi enables a number of commercial growers and urban farmers to optimize space, increase light output, and reduce their energy costs.

Noribachi’s Growlab (NGL) has been a key testing ground for several smart grow light technologies. As a vital part of NGL’s testing environment, Noribachi has developed a program known as “Customer Grow”, which encourages its customers to send plants with specific growth requirements to the lab for testing. During the testing period, the company designs a customized equipment or fixture to maximize light output with due consideration of the optimum growth conditions for each plant, thereby helping growers improve the quality and quantity of the yield.

Over the past few years, technological advances in LED grow lights have led to cutting-edge innovations in the farming and horticulture industries, thereby creating abundant growth opportunities for manufacturers of LED.

Global Grow Light Market: Regional Outlook 

Geographically, the Middle East and South America are prominent markets for grow lights. The regional markets are driven by the rising adoption of indoor farming methods. Constant advancement in urban farming technologies and the growing popularity of hydroponics among agriculturists are key factors fuelling the demand for grow lights in the developed regions of Asia Pacific and North America. Meanwhile, the impending food crisis in some regions, particularly in various parts of Southern Africa, is expected to stimulate the demand for vertical farming and CEA practices, thereby boosting the adoption of grow lights in these regions. 

Global Grow Light Market: Competitive Analysis 

Several emerging players are forming partnerships with commercial agriculturists and research institutions to develop innovative grow lights that help control light levels dynamically in order to augment crop quality and maximize yield. Leading players are offering cloud-based solutions to gain a competitive edge over others. Major companies eyeing a significant share in the grow light market include General Electric Company, Osram Licht AG, LumiGrow, Inc., Royal Philips Electronics, Heliospectra Ab., IWASAKI ELECTRIC CO., LTD., Hortilux SchrEder B.V., Sunlight Supply Inc., and Gavita Holland B.V. 

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

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

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?