
Grow
Light Market was valued US$3.1 Bn in 2017 and is anticipated to reach
US$8.27 Bn by 2026 at a CAGR of about 11.5 % during a forecast.
The report on “Grow Light†is
segmented by technology, by Installation and by region. Based on technology
grow light market is divided into HID, LED, fluorescent, induction, and plasma.
Based on Installation grow light market is bifurcated into new and retrofit.
Based on application grow light market is divided into indoor farming, vertical
farming, commercial greenhouse, and research. Regionally into North America,
Europe, Asia Pacific, Middle East & Africa and Latin America.
Grow light is mostly demand in the
applications where natural light is not available. Grow Light of electronic
lamps is accelerating growth by electronic magnetic spectrum. Grow light market
shows growth in the government initiatives to adopt technologies such as LED,
indoor farming, growing demand for energy efficiency, long lasting grow
technology and environmentally safe products. Around 40% of grow lights are
demand in countries such as Netherlands, where supplemental lighting is
required throughout the year.
Global Grow Light Market
On the basis of technology,
traditional lighting technologies such as fluorescent lighting (FL) and
high-intensity discharge (HID) are quite popular among commercial growers as
well as hobbyists. New technology in grow light such as LED have horticultural
lighting and is proving to be far more effective than other lighting
technologies. Though advance technologies are expensive still their long-term
benefits in terms of energy efficiency make them an ideal option for indoor
plant cultivation.
Among retrofit and new
installations, a retrofit installation is likely to hold a larger market share
in the forecasting period. In grow lights market retrofitting is defined as
removing an existing grow light and installing a new one of the same lighting
technology or of a different lighting technology. Thus, retrofit installations
dominated the market. While new installations are generally characterized by
the expansion of existing facilities or setting up of a new facility. New
greenhouse or a vertical farm is the examples of new installations in Grow
Lights
Recently UN has estimated around
80% of the world's population will live in cities by 2050. Thus demand for food
is increasing in these cities areas at the same time as the availability of
arable land around cities is very limited. So artificial grow light lighting
helps in extending the hours of the natural daylight which further increases
the health, growth rate and yield of the plants.
Europe holds major share of grow
light. Europe is expected to grow at high CAGR during the forecast period. The
high exporter of horticultural produce growth in numerous automated commercial
greenhouses for grow light market in Netherlands (Europe). Usually Europe
mandates indoor growing with the help of artificial lightings due to severe
cold in winters and insufficient sunlight. North America was the second largest
market for grow lights in 2016 and boost up the market share in the forecasting
period.
Royal Philips, General Electric
Company, Gavita Holland B.V., LumiGrow, Inc. , Heliospectra AB , Borst
Bloembollen B.V. , Transcend Lighting Inc. , Sunlight Supply Inc., Beacon
Lighting India , Walters Garden, Inc., Osram Licht AG, Green Sense Farms , Shenzhen
Juson Technology Co., Ltd. , General Electric Company
Scope of the Global Grow Light
Market
For more information visit:
https://www.maximizemarketresearch.com/market-report/grow-lights-market/13138/
Global Grow Light Market by Technology:
• HID
• LED
• Fluorescent
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About Maximize Market Research:
Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.

jayashree rathod
Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electroni..
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