Greenhouse Grow Light Market

Global Greenhouse Grow Light Market Size (2024 to 2032)

The global greenhouse-growth light market was valued at USD 2.7 billion in 2023 and is anticipated to reach USD 3.02 billion in 2024 from USD 7.43 billion by 2032, growing at a CAGR of 11.9% from 2024 to 2032.

Current Scenario of the Global Grow Light Market

Grow lights, particularly LEDs, are used in a huge range of farming-related applications owing to the advantages they offer, such as high low power consumption, reliability, and spectral intensity. A greenhouse is a house made of glass. It has glass walls and a glass roof. People grow tomatoes and flowers and other plants in them. A greenhouse stays warm inside, even during winter. Sunlight shines in and warms the plants and air inside.

Market Drivers

The growth of the greenhouse-growth light market is majorly driven by the rise in the adoption of greenhouses, owing to rapid innovation in technology and rising disposable incomes of people willing to invest in farming. Technological innovations have further helped in lowering the costs of necessary Grow Light which aids in increasing the feasibility of owning a greenhouse. The adoption of greenhouse adoption technologies and encouragement from governments also act as drivers of market growth.

REPORT COVERAGE

REGIONAL ANALYSIS

In 2015, Europe led the global greenhouse grow light market in terms of market share., owing to the beginning of greenhouse culture in Europe because of favorable climate conditions. The market for these Greenhouse Grow Lights in the Asia-Pacific area is amplifying because of more supportive government policies and increasing demand for greenhouses. The Asia-Pacific and other rising nations are foreseen to develop at a quick pace in the Greenhouse Grow Light market in the following years when compared with the seasoned markets of developed regions.

KEY MARKET PLAYERS

The major players operating in the Global Greenhouse Grow Light industry include Royal Philips, General Electric Company, Osram Licht AG, Gavita Holland B.V, Lumigrow Inc., Heliospectra Ab., Iwasaki Electric Co., Ltd., Illumitex Inc., Hortilux Schreder B.V., and Sunlight Supply Inc.

DETAILED SEGMENTATION OF THE GLOBAL GREENHOUSE GROW LIGHT MARKET INCLUDED IN THIS REPORT

This research report on the global greenhouse grow light market is segmented and sub-segmented into the following categories.

By Spectrum

• Partial
• Spectrum
• Full-spectrum

By Installation

• New installations
• Retrofit

By Technology

• High-intensity discharge
• Fluorescent lighting
• LED and others

By Application

• Indoor farming
• Vertical farming
• Commercial greenhouse
• TURF and landscaping research
• Other applications

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle-East & Africa