Grow Light Market size to grow by USD 7,472.08 million from 2022 to 2027|Agnetix, Black Dog Grow Technologies Inc., and more to emerge as key contributors to growth - Technavio

NEW YORK, July 7, 2023 /PRNewswire/ -- The grow light market is set to grow by USD 7,472.08 million from 2022 to 2027. The market is estimated to be progressing at a CAGR of 15.76% during the forecast period. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The market is driven by the growing popularity of urban agriculture. Urban agriculture, such as vertical farming in countries such as the US, Canada, and the Netherlands, is in high demand, which drives market growth. To reduce the dependency on natural light sources, grow light solutions are being increasingly adopted in urban agriculture projects. Additionally, as a result of the rapid advancement in LED growth lights, farmers can replicate natural light wavelengths and color components to ensure fertile plant development. Hence, such factors boost the market growth during the forecast period. -Here is an Exclusive report talking about Market scenarios with a historical period (2017-2021) and the forecast period (2023-2027). Download Sample Report in minutes!

The grow light market covers the following areas:

• Grow Light Market Sizing
• Grow Light Market Forecast
• Grow Light Market Analysis

The report on the grow light market provides a holistic update, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis. 

Grow Light Market 2023-2027: Market Dynamics

The application of grow lights in plant disease detection and monitoring is an emerging trend shaping the market. Vendors increasingly focus on investments in R&D and technology to expand the applications and functionalities of grow lighting solutions to various aspects of plant growth. For instance, in July 2019, LumiGrow announced the launch of a product line of early disease detection sensors and services. Optimization of disease management processes, reduction of losses in terms of yield, and monitoring of treatment effectiveness related to plants are some of the key features of LumiGrow. Hence, such trends are expected to drive the global glow light market growth during the forecast period.

High ownership costs for grow lights are challenging the grow light market growth. The upfront cost associated with the setup and installation of grow light solutions for horticultural applications is considerably high compared to traditional incandescent bulbs. The type of glow lights changes the variability of the challenges. For instance, End-users' installation of HPS grow lights may incur additional costs to the end-user due to the requirement of additional grow fans and blowers to manage the heat. Hence, such challenges are expected to hinder the global glow light market growth during the forecast period.

Grow Light Market 2023-2027: Market Segmentation

The grow light market analysis includes application (commercial greenhouse, vertical farming, indoor farming, and research), product (hid, led lights, fluorescent lights, and others), and geography (Europe, North America, APAC, Middle East and Africa, and South America). 

• The commercial greenhouse segment will contribute a significant share of the grow light market during the forecast period. It is a type of greenhouse used to grow crops that are sold for commercial consumption. LED lights and sodium lights are a couple of examples of the main commercial greenhouses. Furthermore, LED lights are ideal for indoor growers, mainly those using vertical farming, as emitting very little heat. This is because they are easier to manage and are smaller in size, as they are manufactured as a single encapsulated light. Hence, such factors boost the segment growth during the forecast period.

This report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters- View Sample Report

Companies Mentioned

• Aerogrow International Inc.
• Agnetix
• ams OSRAM AG
• Black Dog Grow Technologies Inc.
• California LightWorks
• Crecer Lighting
• EconoLux Industries Ltd.
• Everlight Electronics Co. Ltd.
• General Electric Co.
• Heliospectra AB
• Hubbell Inc.
• Hydrofarm LLC
• Koninklijke Philips NV
• Lemnis Oreon BV
• Samsung Electronics Co. Ltd.
• Sanan Optoelectronics Co. Ltd.
• Signify NV
• Thrive Agritech
• ViparSpectra
• ALTO INDIA

What's New?

• Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession 
• Global competitiveness and key competitor positions 
• Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - Buy the report!

Vendor Offerings

• Agnetix - The company offers grow light solutions, namely PHENOM Liquidcooled, multi sensor, and imaging smart horticulture lighting systems for vertical farming. 
• Black Dog Grow Technologies Inc. - The company offers grow light solutions, namely OSLON Square Hyper Red LED.
• Crecer Lighting - The company offers grow light solutions such as MegaDrive Series, SpectraMax Series, SolarSystem Series, SolarXtreme Series.

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Key Topics Covered:

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022 

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global grow light market 2017 - 2021
• Exhibit 18: Historic Market Size – Data Table on global grow light market 2017 - 2021 ($ million)

• 4.2 Application Segment Analysis 2017 - 2021
• Exhibit 19: Historic Market Size – Application Segment 2017 - 2021 ($ million)

• 4.3 Product Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size – Product Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Application

• 6.1 Market segments 
• Exhibit 30: Chart on Application - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Application - Market share 2022-2027 (%)

• 6.2 Comparison by Application 
• Exhibit 32: Chart on Comparison by Application
• Exhibit 33: Data Table on Comparison by Application

• 6.3 Commercial green house - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Commercial green house - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Commercial green house - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Commercial green house - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Commercial green house - Year-over-year growth 2022-2027 (%)

• 6.4 Vertical farming - Market size and forecast 2022-2027
• Exhibit 38: Chart on Vertical farming - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Vertical farming - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Vertical farming - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Vertical farming - Year-over-year growth 2022-2027 (%)

• 6.5 Indoor farming - Market size and forecast 2022-2027
• Exhibit 42: Chart on Indoor farming - Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on Indoor farming - Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on Indoor farming - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Indoor farming - Year-over-year growth 2022-2027 (%)

• 6.6 Research - Market size and forecast 2022-2027
• Exhibit 46: Chart on Research - Market size and forecast 2022-2027 ($ million)
• Exhibit 47: Data Table on Research - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Chart on Research - Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on Research - Year-over-year growth 2022-2027 (%)

• 6.7 Market opportunity by Application 
• Exhibit 50: Market opportunity by Application ($ million)
• Exhibit 51: Data Table on Market opportunity by Application ($ million)

7 Market Segmentation by Product

• 7.1 Market segments 
• Exhibit 52: Chart on Product - Market share 2022-2027 (%)
• Exhibit 53: Data Table on Product - Market share 2022-2027 (%)

• 7.2 Comparison by Product 
• Exhibit 54: Chart on Comparison by Product
• Exhibit 55: Data Table on Comparison by Product

• 7.3 HID - Market size and forecast 2022-2027
• Exhibit 56: Chart on HID - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Data Table on HID - Market size and forecast 2022-2027 ($ million)
• Exhibit 58: Chart on HID - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on HID - Year-over-year growth 2022-2027 (%)

• 7.4 LED lights - Market size and forecast 2022-2027
• Exhibit 60: Chart on LED lights - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Data Table on LED lights - Market size and forecast 2022-2027 ($ million)
• Exhibit 62: Chart on LED lights - Year-over-year growth 2022-2027 (%)
• Exhibit 63: Data Table on LED lights - Year-over-year growth 2022-2027 (%)

• 7.5 Fluorescent lights - Market size and forecast 2022-2027 
• Exhibit 64: Chart on Fluorescent lights - Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Data Table on Fluorescent lights - Market size and forecast 2022-2027 ($ million)
• Exhibit 66: Chart on Fluorescent lights - Year-over-year growth 2022-2027 (%)
• Exhibit 67: Data Table on Fluorescent lights - Year-over-year growth 2022-2027 (%)

• 7.6 Others - Market size and forecast 2022-2027
• Exhibit 68: Chart on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 69: Data Table on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 70: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 71: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 7.7 Market opportunity by Product 
• Exhibit 72: Market opportunity by Product ($ million)
• Exhibit 73: Data Table on Market opportunity by Product ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 74: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 75: Chart on Market share by geography 2022-2027 (%)
• Exhibit 76: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 77: Chart on Geographic comparison
• Exhibit 78: Data Table on Geographic comparison

• 9.3 Europe - Market size and forecast 2022-2027
• Exhibit 79: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.4 North America - Market size and forecast 2022-2027
• Exhibit 83: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027
• Exhibit 87: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 91: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.7 South America - Market size and forecast 2022-2027
• Exhibit 95: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027
• Exhibit 99: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 The Netherlands - Market size and forecast 2022-2027
• Exhibit 103: Chart on The Netherlands - Market size and forecast 2022-2027 ($ million)
• Exhibit 104: Data Table on The Netherlands - Market size and forecast 2022-2027 ($ million)
• Exhibit 105: Chart on The Netherlands - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on The Netherlands - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027
• Exhibit 107: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 108: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 109: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 110: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 China - Market size and forecast 2022-2027
• Exhibit 111: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 112: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 113: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 114: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.12 Japan - Market size and forecast 2022-2027
• Exhibit 115: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 116: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 117: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 118: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 119: Market opportunity by geography ($ million)
• Exhibit 120: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers 

• 10.2 Market challenges 

• 10.3 Impact of drivers and challenges 
• Exhibit 121: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends 

11 Vendor Landscape

• 11.1 Overview 

• 11.2 Vendor landscape 
• Exhibit 122: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 123: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 124: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 125: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 126: Matrix on vendor position and classification

• 12.3 Aerogrow International Inc. 
• Exhibit 127: Aerogrow International Inc. - Overview
• Exhibit 128: Aerogrow International Inc. - Product / Service
• Exhibit 129: Aerogrow International Inc. - Key offerings

• 12.4 Agnetix 
• Exhibit 130: Agnetix - Overview
• Exhibit 131: Agnetix - Product / Service
• Exhibit 132: Agnetix - Key offerings

• 12.5 ams OSRAM AG 
• Exhibit 133: ams OSRAM AG - Overview
• Exhibit 134: ams OSRAM AG - Business segments
• Exhibit 135: ams OSRAM AG - Key offerings
• Exhibit 136: ams OSRAM AG - Segment focus

• 12.6 California LightWorks 
• Exhibit 137: California LightWorks - Overview
• Exhibit 138: California LightWorks - Product / Service
• Exhibit 139: California LightWorks - Key offerings

• 12.7 Crecer Lighting 
• Exhibit 140: Crecer Lighting - Overview
• Exhibit 141: Crecer Lighting - Product / Service
• Exhibit 142: Crecer Lighting - Key offerings

• 12.8 Everlight Electronics Co. Ltd. 
• Exhibit 143: Everlight Electronics Co. Ltd. - Overview
• Exhibit 144: Everlight Electronics Co. Ltd. - Business segments
• Exhibit 145: Everlight Electronics Co. Ltd. - Key offerings
• Exhibit 146: Everlight Electronics Co. Ltd. - Segment focus

• 12.9 General Electric Co. 
• Exhibit 147: General Electric Co. - Overview
• Exhibit 148: General Electric Co. - Business segments
• Exhibit 149: General Electric Co. - Key news
• Exhibit 150: General Electric Co. - Key offerings
• Exhibit 151: General Electric Co. - Segment focus

• 12.10 Heliospectra AB 
• Exhibit 152: Heliospectra AB - Overview
• Exhibit 153: Heliospectra AB - Product / Service
• Exhibit 154: Heliospectra AB - Key offerings

• 12.11 Hydrofarm LLC 
• Exhibit 155: Hydrofarm LLC - Overview
• Exhibit 156: Hydrofarm LLC - Product / Service
• Exhibit 157: Hydrofarm LLC - Key offerings

• 12.12 Koninklijke Philips NV 
• Exhibit 158: Koninklijke Philips NV - Overview
• Exhibit 159: Koninklijke Philips NV - Business segments
• Exhibit 160: Koninklijke Philips NV - Key news
• Exhibit 161: Koninklijke Philips NV - Key offerings
• Exhibit 162: Koninklijke Philips NV - Segment focus

• 12.13 Lemnis Oreon BV 
• Exhibit 163: Lemnis Oreon BV - Overview
• Exhibit 164: Lemnis Oreon BV - Product / Service
• Exhibit 165: Lemnis Oreon BV - Key offerings

• 12.14 Sanan Optoelectronics Co. Ltd. 
• Exhibit 166: Sanan Optoelectronics Co. Ltd. - Overview
• Exhibit 167: Sanan Optoelectronics Co. Ltd. - Product / Service
• Exhibit 168: Sanan Optoelectronics Co. Ltd. - Key offerings

• 12.15 Signify NV 
• Exhibit 169: Signify NV - Overview
• Exhibit 170: Signify NV - Business segments
• Exhibit 171: Signify NV - Key news
• Exhibit 172: Signify NV - Key offerings
• Exhibit 173: Signify NV - Segment focus

• 12.16 Thrive Agritech 
• Exhibit 174: Thrive Agritech - Overview
• Exhibit 175: Thrive Agritech - Product / Service
• Exhibit 176: Thrive Agritech - Key offerings

• 12.17 ViparSpectra 
• Exhibit 177: ViparSpectra - Overview
• Exhibit 178: ViparSpectra - Product / Service
• Exhibit 179: ViparSpectra - Key offerings

13 Appendix

• 13.1 Scope of the report 

• 13.2 Inclusions and exclusions checklist
• Exhibit 180: Inclusions checklist
• Exhibit 181: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 182: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 183: Research methodology
• Exhibit 184: Validation techniques employed for market sizing
• Exhibit 185: Information sources

• 13.5 List of abbreviations 
• Exhibit 186: List of abbreviations

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