Grow Lights Market By Offering (Hardware and Software), By Rating (<300 Watt and >300 Watt), By Plant Type (High Light Plants and Low Light Plants), By Device Type (Top Lights, Inter-Lights, TLEDs, and Flowering Lamps), By Range (60-200W, 200-1000W, and 1000-2000W), and By Application (Indoor Farming, Vertical Farming, Commercial Greenhouse, TURF &Landscaping, and Other Applications):Global Opportunity Analysis and Industry Forecast, 2020-2027
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Oct 2020 |
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COVID-19
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The global grow lights market is experiencing a significant growth, and will grow considerably in the next few years. Grow light technology aids in prolonging the hours of the natural daylight which further escalates the health, growth rate and production of the plants. The fact that LED light bulbs generate the same amount of light as HID lights but stuffs down fewer watts has made them the best grow lights among their counterparts. Especially, when it comes to electricity savings, the importance of grow lights gets multiplied yet more.Â
LED grow lights have nowcome out as a popular choice for a number of good reasons such as high-efficiency, productivity, temperature, longevity, therange of light they provide, and their size.Rise in the number of plant factories, increase in demand for sustainable development, and development in urban agriculture are the major factors driving the growth of the global lights market.
The global grow lights market is segmented on the basis of offering, rating, plant type, device type, range, application, and geography. Based on offering, the market is further segmented into hardware and software. Based on rating, the market is divided into <300 watt and >300 watt. Based on plant type, the report categorizes the market into high light plants and low light plants.Â
By device type, the market is classified into top lights, inter-lights, TLEDs, and flowering lamps. By range, the market catalogues the report into 60-200W, 200-1000W, and 1000-2000W. By application, the report is elemented into indoor farming, vertical farming, commercial greenhouse, TURF and landscaping, and other applications. Geographically, the global market is divided across North America, Europe, Asia-Pacific, and RoW (Rest of the World).Â
Key players of the global grow lights market analyzed in the report include Royal Philips, Sunlight Supply Inc., HortiluxSchreder B.V., General Electric Company, Iwasaki Electric Co., OsramLicht AG, Gavita Holland B.V., Lumigrow Inc., Heliospectra Ab., LTD., and  Illumitex Inc.
Top Impacting Factors
Rise in the trend of urban cultivation & vertical farming, increase in adoption of eco-friendly cultivation of crops, and surge in the number of plant workshops drive the growth of the global grow lights market. Moreover, artificial lighting is best known for encompassing the availability of fruits & vegetables throughout all the seasons. This factor, in turn, has supplemented the market growth. On the other hand, the high maintenance and installation costs of grow lights impede the growth to some extent. Nevertheless, increase in awareness regarding the significance of such alternative farming is expected to usher in lucrative opportunities in the near future.
Urban AgricultureHas Now Become Much Trendy
Rise in environmental concerns and vagueness & uncertainty regarding the prevailing rainfall patterns has made people get more inclined toward investing in the domestic garden set-up. This proclivity of people has again worked as one of the prime factors driving the growth of the market. This high-end technology is mainly used to cater to all the light requirements a plant needs to grow or in certain cases, to top up the natural sunlight, especially in cold regions having low daylight spans.Â
LettUs Grow, a UK-based aquaponicssystem provider is reportedly accelerating the establishment of two new indoor areas on its urban homestead. Their aim is to grow greens for local food aids and handouts during this COVID-19 outbreak. According to the firm, the grow LED lights they have been using in the process have just done wonder in monitoring as well as controlling the indoor growing.
Hyperion Grow Lights, a renowned firm in Berlin, has also introducing the latest high power top light in the Hyperion LED range in January, 2020.
A Range of Spectrums that Determine Healthy Growth of the Plants; New Products Launched By Companies
Grow lights tend to emitluminosity of an array of spectrumsranging from yellow to blue or green. A number of studies have been conducted in this regard and it’s revealed that these spectrums are highly useful at various growth phases of plants. Whensingle spectrum lamps give off light only similar to sunlight, grow lamps, on the other hand, are beneficialto every growth stage of a plant.
There’s no doubt that one of the biggest issues with raising and mounting plants is lighting. Inconsistent light has often beenunfavorableand detrimental to the development of plants. Pico comes here as one’s little nature-loving cohort and solves this problem with its patent-pendingproject. The palm-sized potconsists ofan untainted steel collapsible arm that’s attachedwith multi-spectrum LED lights—the same grow lights utilized in indoor farming. It springs up several inches upward to leave the plants in wholesome rays. Recently, Steiner has happened to choose Hyperion top light for Germany’s first downright LED tomato production.
Key Benefits of the Report:
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This study renders an interpretative depiction of the global grow lights industry along with the current trends and future valuations to spur on the looming investment pockets.
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The report also depicts information in regards to key drivers, restraints, and opportunities in consort with detailed analysis of the global grow lights market share.
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The current market is quantitatively analyzed from 2020 to 2027 to highlight the global grow lights market growth landscape.
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Porter’s five forces analysis demonstrates the influence of buyers & suppliers in the market.Â
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The report doles out anall-inclusive global grow lights market study based on economical intensity and how the market contention will take shape in the near future.Â
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Scope of the Report:
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       Report Metric |
                 Details |
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 Market Size Available For Years |
 2020-2027 |
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 Base Year Considered |
 2019 |
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 Forecast Period |
 2020-2027 |
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 Forecast Units |
 Value (USD) |
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 Segments Covered |
Offering, Rating, Plant Type, Device Type, Range, Application, and Geography |
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 RegionsCovered |
North America (US, Canada, and Mexico), Europe (UK, Germany, Netherlands,Scandinavia, and the Rest of Europe), Asia Pacific (China, Japan, Australia, New Zealand, and the Rest of APAC), Rest of the World (South America and Middle East & Africa) |
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 Companies Covered |
Major players analyzed in the report include Royal Philips, General Electric Company, OsramLicht AG, Gavita Holland B.V., Lumigrow Inc., Heliospectra Ab., Iwasaki Electric Co., LTD., Illumitex Inc., HortiluxSchreder B.V., and Sunlight Supply Inc. |
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Key Market Segments:
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Questions Answered in the Grow Lights Market Research Report:
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What are the key market players active in the grow lights market?
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What are the current trends that are likely to determine the market in the next few years?
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What are the driving factors, restraints, and opportunities looming large in the market?
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What are the forecasts for the future that would aid in taking further tactical steps to expand the market yet more?
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