Grow Light Market is forecast to reach USD 16.3 Billion by 2031. This will accompany a 32.82% compound annual growth rate (CAGR) from 2022-2031.

Growing Demand

According to their application, grow lights are classified into research, commercial greenhouse, indoor farming, vertical farming, and indoor farming. The market’s largest share was held in 2016 by the commercial category, which can be attributed to growing urbanization worldwide and demand for consistent food supplies.

Europe was the world’s largest grow lights market, accounting for 25.2% of global revenue in 2016. The Asia-Pacific region (APAC) is expected to have the fastest market growth over the forecast period. APAC is experiencing rapid market growth due to a rising population, increased focus on urban farming, and increasing emphasis by regional governments on LED lighting.

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Market Key Trends

Indoor farming is done on a large scale and requires growing lights that can replace direct sunlight. They can sometimes even surpass sunlight in certain situations. Three grow lights are essential for indoor cultivation: fluorescent lights (HPS or HID), LED grow lamps, and HID/HID develop lights.
The market is growing due to technological advances in grow lights and inexpensive gardening systems. About one-third of the millennia are now growing herbs indoors.
Indoor grow lights give plants the best possible red and green wavelengths to grow healthy and strong. Red light, when sensed by plants via a special receptor, releases a hormone to prevent chlorophyll loss. Red light can produce healthy plants and also grow flowers and fruits. Grow lights allow you to regulate the intensity of red light. Too much red can lead to serious problems such as spindly, lanky plants.
Researchers from the University of Florida’s Horticultural Sciences Department (August 2019) found that plants grown in slow-disco pulsing lights use less energy than in grow lights. Their idea was tested on seedlings of thale cress and turnip. It showed that these plants could be exposed to pulsing lighting for five seconds, ten-second periods of darkness, and 30% less energy. These technological advances could dramatically lower the farmer’s operational costs by up to 25% over a short period.

Recent Development

Valoya introduced two new models of its RX-Series LEDs for greenhouses, the RX500- and RX600-series. The new models can replace HPS 1-to-1 and provide uniform light output up to 1700 umol/s. The high light intensity allows them to be placed above the canopy, sometimes as high as 4 meters.
Fluence by OSRAM – a leading global supplier of energy-efficient LED lighting systems for commercial cannabis production and agriculture production – announced its partnership with The Lamphouse in September 2020. The Lamphouse is Africa’s largest supplier. Fluence’s exclusive partner, The Lamphouse, has over 40 years of experience in various specialty lighting industries. They serve South Africa’s professional horticulture retailers and large commercial cannabis production projects.
Signify and Yunnan AiBiDa Greenhouse Technology Co., Ltd., China, signed an agreement in August 2020. This is a partnership between the company and Yunnan AiBiDa Greenhouse Technology Co., Ltd., China, a greenhouse floriculture manufacturing company. Signify aims to expand Philips’s Chinese horticulture research network and serve its Chinese floral business through this agreement.
Fluence by OSRAM released four additional spectra in June 2020 on its VYPR top lamp series. These new spectra boasted market-leading efficacies at 3.8 umol/J. Fluence’s extended PhysioSpec spectra let growers optimize lighting strategies for all crops, regardless of their growth stage or geographic location.
Signify acquired Cooper Lighting Solutions US in March 2020. It is a major provider of professional, control, and connected lighting. Eaton is a top provider of professional lighting, connected lighting, and lighting controls. With this acquisition, the company will be able to increase its presence in North American markets.
Nectar Farms Victoria awarded Heliospectra AB a contract in January 2020 for MITRA LED lighting. This will allow Nectar Farms to increase their glasshouse tomato production.
Heliospectra displayed new, innovative LED lighting solutions at Greentech in May 2019. The company showcased its hi-core light control system, vertical farming-based SIERA lighting bar solution, and its MITRA Series.

Key Companies

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

Кеу Маrkеt Ѕеgmеntѕ

By Product

< 300 Watt
300 Watt

By System

Hardware
Software

By Technology

High-Intensity Discharge (HID)
LED
Fluorescent
Plasma

By Installation

New Installation
Retrofit

By Spectrum

Partial Spectrum
Full Spectrum

By Application

Indoor Farming
Vertical Farming
Commercial Greenhouse
Other applications

Frequently Asked Questions

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WHAT TO TAKE AWAY FROM THIS ARTICLE:

Get a sample of a report to get a comprehensive insight @ https.
APAC is experiencing rapid market growth due to a rising population, increased focus on urban farming, and increasing emphasis by regional governments on LED lighting.
The market’s largest share was held in 2016 by the commercial category, which can be attributed to growing urbanization worldwide and demand for consistent food supplies.