Grow Light Industry Overview

The global grow light market size was valued at USD 4.23 billion in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 15.0% from 2022 to 2030.

Growing urban cultivation, vertical farming and growing adoption of environment-friendly production of fruits and vegetables is boosting the growth of the market. The unprecedented growth of the global population has also increased the demand for urban agriculture. Furthermore, the practice of vertical farming for producing food in a vertically stacked-layer such as a used warehouse, skyscraper, or shipping container is boosting the market growth.

Gather more insights about the market drivers, restrains and growth of the Grow Light Market

Grow light 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.

Browse through Grand View Research's Next Generation Technologies Industry Research Reports.

• The global aviation software market size was estimated at USD 10.68 billion in 2023 and is expected to grow at a CAGR of 7.2% from 2024 to 2030.
• The global automotive robotics market size was valued at USD 13.06 billion in 2023 and is projected to grow at a CAGR of 17.6% from 2024 to 2030.

Grow Light Market Segmentation

Grand View Research has segmented the global grow light market based on application, product, system, technology, installation, spectrum, and region:

Grow Light Application Outlook (Revenue, USD Million, 2017 - 2030)

• Indoor Farming
• Vertical Farming
• Commercial Greenhouse
• Others

Grow Light Product Outlook (Revenue, USD Million, 2017 - 2030)

• < 300 Watt
  • 300 Watt

Grow Light System Outlook (Revenue, USD Million, 2017 - 2030)

• Hardware
• Software

Grow Light Technology Outlook (Revenue, USD Million, 2017 - 2030)

• High Intensity Discharge (HID)
• LED
• Fluorescent
• Plasma

Grow Light Installation Outlook (Revenue, USD Million, 2017 - 2030)

• New Installation
• Retrofit

Grow Light Spectrum Outlook (Revenue, USD Million, 2017 - 2030)

• Partial Spectrum
• Full Spectrum

Grow Light Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
• Asia Pacific
  • China
  • India
  • Japan
• South America
  • Brazil
• Middle East and Africa (MEA)

Key Companies profiled:

• AeroFarms
• EVERLIGHT ELECTRONICS CO., LTD.,
• GAVITA Holland bv
• Heliospectra AB
• Hortilux Schréder
• Illumitex
• LumiGrow Inc
• Osram Licht AG

Key Companies & Market Share Insights

The key market players engage in strategies such as partnerships and new product developments to expand their market share. Companies are also acquiring competitors’ businesses to strengthen their position in the market. For instance, in December 2021, Signify Holding B.V. announced an agreement with Osram to acquire Fluence, an agriculture lighting division of Osram to strengthen its agriculture lighting business. The acquisition has also strengthened the company’s position in North America horticulture lighting market.

Order a free sample PDF of the Grow Light Market Intelligence Study, published by Grand View Research.