The growth in the indoor farming, government initiatives to adopt technologies such as LED, growing demand for energy efficiency, long lasting grow technology and environmentally safe products are the factors boosting the growth of the grow light market.
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Also, a high commercial greenhouses practice in countries such as Netherlands is propelling the growth of the market.
Grow light can be explained as a type of electronic lamp designed to accelerate plant growth by electronic magnetic spectrum. It is widely used in applications where natural light is not available or where supplemental light required.
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The key drivers contributing to the growth of the grow light market are growth in the indoor farming, government initiatives to adopt technologies such as LED, growing demand for energy efficiency, long lasting grow technology and environmentally safe products. Also, the demand for these products is increasing in countries such as Netherlands where supplemental lighting is required throughout the year.
However, low awareness among consumers, high cost of capital are the factors hindering the growth of the overall growth of the market. Whereas, high reliability, low power consumption, high commercial greenhouse practices are also propelling the growth of the grow light market.
Taste the market data and market information presented through more than 30 market data tables and figures spread over 100 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Grow Light Market Research Report -Forecast to 2022”.
Grow Light Market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the top players including
- Osram LichtAG (Germany),
- General Electric Company (U.S.),
- Iwasaki Electric Co., Ltd. (Japan),
- LumiGrow, Inc. (U.S.),
- Gavita Holland B.V. (Netherlands),
- Hortilux Schreder B.V. (Netherlands),
- Sunlight Supply, Inc. (U.S.),
- Heliospectra AB (Sweden),
- Royal Philips (Netherlands),
- Platinum LED Lights LLC (U.S.)
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- Research firms
- Consultancy firms
- Software Developers
- Semiconductor Manufacturers
- End-user sectors
- Technology Investors
Regionally, Europe accounted for the largest market share, because Netherlands is a leading exporter of horticultural produce which increases the usage of commercial greenhouse. Also, the concept of vertical farming is gaining popularity in this region.
Asia-Pacific region is expected to grow significantly over the forecast period, majorly due to increasing awareness about the benefits of this technology.
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For the purpose of this study, Market Research Future has segmented the market of grow light into technology, installation, application and region.
- High Intensity Discharge
- Fluorescent Lighting
- New Installation
- Indoor Framing
- Commercial Greenhouse
- Vertical Framing
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