Grow Lights Market

Grow Lights Market by Offering (Hardware, and Software & Services), Installation Type (New and Retrofit), Application (Commercial Greenhouses, Vertical Farming, Indoor Farming, and Others), Lighting Type, Watt, and Geography - Global Forecast to 2025

Report Code: SE 4140 May, 2020, by marketsandmarkets.com

[139 Pages Report] The grow lights market is expected to grow from USD 1.0 billion in 2020 to USD 2.5 billion by 2025, at a CAGR of 19.9%. The factors such as increasing adoption of indoor farming in urban areas, ongoing government initiatives to support energy-efficient lighting, growing need for long-lasting, energy-efficient , and economical grow lights, and emerging trend of farm-to-table concept drive the demand for grow lights.

Grow Lights Market

Grow Lights Market Dynamics

Driver: Increasing demand for indoor farming in urban areas

Growing focus on infrastructural development and rising need to transform agricultural spaces into an abode for human living owing to the ever-growing population, especially in urban areas, has resulted in a scarcity of arable land, which, in turn, encourages growers across the world to adopt indoor farming technology. In this technique, plants are grown indoors by utilizing artificial light sources such as high-pressure sodium lamps (HPS), metal halide, and LED lamps. This allows regular plant growth without being much affected by environmental factors such as storms and extreme temperatures.

Restraint: High setup and installation costs

The initial capital required for the purchase of good-quality LED grow lights is higher than that of conventional lighting technologies such as FL and HID. This is mainly because each LED grow light unit contains arrays of LEDs, specially designed for horticultural applications. Often, these units contain different types of LEDs with variation in watts and wavelengths to provide a broad range of light spectrum and intensity for different types of plants.

Opportunity: Rise of vertical farms

A recent trend in the horticultural industry is the emergence of vertical farms in urban establishments. Vertical farms are indoor farms wherein plants are grown in stacks one above the other, similar to a multistoried building. These are highly optimized plant factories, which make use of artificial lightings as the source of light and hydroponics for plant growth; the climatic conditions in these farms can be controlled artificially. Hydroponics is a method by which plants are grown without soil and are supplied with required minerals and nutrients by mixing them in water. These factors are beneficial for vertical farming, which eradicates the side effects of pesticides.

Challenge: Lack of standard testing practices for accessing product quality and their fixtures

The lighting technology industry is facing a major challenge, that is, the lack of standard testing practices for assessing the quality of products, especially for new technologies such as LED, induction, and plasma. Product quality needs to be assessed mainly to validate its lumen output and operating life. Manufacturers of LEDs have claimed the operating life of their products to be between 30,000 hours and 50,000 hours based on their research and testing for several years. However, every manufacturer has their own technique of manufacturing LEDs; hence, their testing practices also differ.

Market for new installations is expected to hold largest share during forecast period

The introduction of new grow light technologies such as LED, plasma, and induction has provided the growers with more options to choose from while retrofitting their grow light systems. LED grow lights offer variable spectrums that make them suitable for various plants. As a result, this technology is being preferred by the growers for most of the applications. New installations of grow lights are driven by the expansion of existing facilities and the construction of new facilities, such as commercial greenhouses or vertical farms.

Market for interlighting is expected to register a higher CAGR during forecast period

Interlighting is a relatively new concept in horticulture lighting. In this type of lighting, lights are placed inside the canopy of high-wire plants, which direct growth-stimulating light on the most vital parts of the crop, such as its leaves and veins. It has bidirectional lights that reduce shadowing of leaves, which occurs in the case of toplighting, ensuring lower parts of a plant are also exposed to adequate light. Interlighting provides greater light efficacy, which results in higher yield compared to toplighting as the design of interlighting allows a plant to absorb light rays from the entire spectrum.

Commercial greenhouse segment held the largest market share in 2019

Commercial greenhouses have witnessed increased automation in the last decade, and the concept of controlled environment agriculture (CEA) is being implemented in greenhouses to maintain optimum growing conditions and obtain a higher yield. Growers are gradually realizing the potential benefits of cultivating plants inside a greenhouse; this has contributed to the development of commercial greenhouses. LED grow lights can be easily programmed and integrated into the CEA setup within a greenhouse. Hence, growers with greater investment capabilities have started shifting toward LED grow lights from conventional lighting systems.

Europe expected to account for largest market share from 2020 to 2025

Europe held the largest share in grow lights market, among all regions. This region has been using grow light systems for the past few decades to grow plants in commercial greenhouses. The use of grow light in this region is gradually increasing from being a supplemental lighting source to becoming the primary source of light in indoor operations. The population of Europe has expanded rapidly in recent times, and countries are importing fruits and vegetables in frozen form from the external markets in Africa and Asia. Indoor horticulture is gaining rapid momentum in some of the major countries in this region, to obtain fresh produce from locally cultivated farms. This factor is expected to generate massive demand for grow light systems in the future.

Grow Lights Market by Region

Key Market Players

Major players in the grow lights market include Signify Holding (The Netherlands), General Electric Company (US), Osram GmbH (Germany), Gavita International B. V. (The Netherlands), Helliospectra AB (Sweden), Iwasaki Electric Co., Ltd. (Japan), Illumitex (US), Hortilux Schréder (The Netherlands), and California Lightworks (US).

Scope of the Report

Report Metric

Details

Market size available for years

2017–2025

  Base year considered

2019

  Forecast period

2020–2025

  Forecast units

Value (USD)

  Segments covered

Watt, Lighitng Type, Installation Type, Offering, Application, and Region

  Geographies covered

North America, Europe, APAC, and RoW

  Companies covered

       Signify Holding (The Netherlands), General Electric Company (US), Osram GmbH (Germany), Gavita International B. V. (The Netherlands), Helliospectra AB (Sweden), Iwasaki Electric Co., Ltd. (Japan), Illumitex (US), Hortilux Schréder (The Netherlands), California Lightworks (US), Zuzi Technology (China), AeroFarms (US), Emium LLC (US), InduLux Technologies (Canada), Valoya (Finland), Kessil (US), Thrive Agritech (US), VividGro (US), Bowery Farming, Inc. (US), Metropolis Farms (US), and Crop One Holdings (US).
Total 20 major players covered

In this research report, the grow lights market has been segmented on the basis of watt, lighting type, installation type, offering, application, and geography.

Grow Lights Market, by Watt

  • <300 Watt
  • >300 Watt

Grow Lights Market, by Lighting Type

  • Toplighting
  • Interlighting

Grow Lights Market, by Installation Type

  • New Installations
  • Retrofit Installations

Grow Lights Market, by Offering

  • Hardware
  • Software and Services

Grow Lights Market, by Application

  • Commercial Greenhouse
  • Vertical Farming
  • Indoor Farming
  • Others (Plant Laboratories, Agriculture Universities, etc.)

Grow Lights Market, by Geography

  • North America
  • Europe
  • APAC
  • RoW

Recent Developments

  • In February 2020, Signify expanded its product range for greenhouse horticulture lighting. The latest version of the Greenpower LED toplighting linear offers the most uniform light distribution in greenhouses. The maximum light output has been increased from 620 to 1,000 μmol/s, and it is a lot more energy efficient than the previous version
  • In January 2020, Osram launched the new generation of the Oslon Square Hyper Red with a wavelength of 660 nm, which is the flagship product in Osram Opto Semiconductors’ comprehensive Horticulture portfolio. In addition to the better efficiency values, greenhouse operators benefit from a radiant flux of 1.030 mW at 73% WPE (wall-plug efficiency) and a photon flux of 5.7 μmol/s at an efficacy of 4.0 μmol/J at 700 mA
  • In June 2019, Gavita launched a 750-W double ended fixture and lamp. Growers with a traditional magnetic 400 V 600 W installation can even upgrade to electronic 750 W fixtures without changing the electrical installation because its capacity is calculated on the basis of magnetic fixtures with a low power factor.
  • In August 2019, Signify signed a contract with Evesham Vale Growers and R & L Holt, premium tomato growers in the UK, to offer Philips LED and HPS lighting for a new greenhouse. Philips’ hybrid lighting setup, which was installed by Philips Horti LED partner Certhon in 2015, resulted in a 25% increase in crop production
  • In April 2019, General Electric developed a new line of indoor GE grow lights with applications in growing greens, herbs, vegetables, fruits, flowers, or other plants. These lights feature a prescribed light spectrum with high Photosynthetic Photon Flux (PPF)

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 15)
    1.1 STUDY OBJECTIVES
    1.2 MARKET DEFINITION AND SCOPE
           1.2.1 INCLUSIONS AND EXCLUSIONS
    1.3 STUDY SCOPE
           1.3.1 MARKETS COVERED
           1.3.2 REGIONAL SCOPE
           1.3.3 YEARS CONSIDERED
    1.4 CURRENCY
    1.5 LIMITATIONS
    1.6 STAKEHOLDERS

2 RESEARCH METHODOLOGY (Page No. - 19)
    2.1 RESEARCH DATA
           2.1.1 SECONDARY DATA
                    2.1.1.1 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Breakdown of primaries
                    2.1.2.2 Key data from primary sources
                    2.1.2.3 Key industry insights
           2.1.3 SECONDARY AND PRIMARY RESEARCH
    2.2 MARKET SIZE ESTIMATION
           2.2.1 BOTTOM-UP APPROACH
                    2.2.1.1 Approach for obtaining market size using bottom-up analysis
           2.2.2 TOP-DOWN APPROACH
                    2.2.2.1 Approach for obtaining market size using top-down analysis
    2.3 MARKET BREAKDOWN AND DATA TRIANGULATION
    2.4 RESEARCH ASSUMPTIONS

3 EXECUTIVE SUMMARY (Page No. - 29)

4 PREMIUM INSIGHTS (Page No. - 34)
    4.1 ATTRACTIVE GROWTH OPPORTUNITIES IN GROW LIGHTS MARKET
    4.2 GROW LIGHTS MARKET, BY APPLICATION
    4.3 GROW LIGHTS MARKET IN EUROPE,  BY APPLICATION AND COUNTRY
    4.4 GROW LIGHTS MARKET IN EUROPE, BY LIGHTING TYPE
    4.5 GROW LIGHTS MARKET, BY REGION

5 MARKET OVERVIEW (Page No. - 37)
    5.1 INTRODUCTION
    5.2 MARKET DYNAMICS
           5.2.1 DRIVERS
                    5.2.1.1 Increasing adoption of indoor farming in urban areas
                    5.2.1.2 Ongoing government initiatives to support energy-efficient lighting
                    5.2.1.3 Growing need for long-lasting, energy-efficient, and economical grow lights
                    5.2.1.4 Emerging trend of farm-to-table concept
           5.2.2 RESTRAINTS
                    5.2.2.1 Requirement for varied light spectrums for different crops
                    5.2.2.2 High setup and installation costs
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Rise of vertical farms
                    5.2.3.2 Technological advancements in LED grow lights
                    5.2.3.3 Legalization of cannabis in different countries including US
                    5.2.3.4 Emergence of horticulture lighting software and calculator
           5.2.4 CHALLENGES
                    5.2.4.1 Lack of standard testing practices for assessing product quality of grow lights and their fixtures

6 INDUSTRY TRENDS (Page No. - 47)
    6.1 VALUE CHAIN ANALYSIS
    6.2 COVID-19 IMPACT ON GROW LIGHTS MARKET
           6.2.1 OVERVIEW AND STATISTICS
           6.2.2 IMPACT ON GROW LIGHTS MARKET

7 GROW LIGHTS MARKET, BY WATT (Page No. - 50)
    7.1 INTRODUCTION
    7.2 <300 WATT
           7.2.1 <300 WATT TYPE OF GROW LIGHTS ARE LARGELY USED FOR CANNABIS PRODUCTION
    7.3 >300 WATT
           7.3.1 >300 WATT TYPE OF GROW LIGHTS ARE SUITABLE FOR VEGETABLE AND FLOWER PRODUCTION

8 GROW LIGHTS MARKET, BY LIGHTING TYPE (Page No. - 54)
    8.1 INTRODUCTION
    8.2 TOPLIGHTING
           8.2.1 TOPLIGHTING—WIDELY USED LIGHTING TYPE IN INDOOR FARMING
    8.3 INTERLIGHTING
           8.3.1 INTERLIGHTING TO REGISTER HIGHER CAGR IN GROW LIGHTS MARKET DURING FORECAST PERIOD

9 GROW LIGHTS MARKET, BY INSTALLATION TYPE (Page No. - 58)
    9.1 INTRODUCTION
    9.2 NEW INSTALLATIONS
           9.2.1 GROWING ADOPTION OF VERTICAL FARMING BOOST NEW INSTALLATIONS OF GROW LIGHTS
    9.3 RETROFIT INSTALLATIONS
           9.3.1 RETROFITTING INSTALLATION OF GROW LIGHTS HELP SAVE ENERGY, IMPROVE PLANT QUALITY, AND REDUCE MAINTENANCE COST

10 GROW LIGHTS MARKET, BY OFFERING (Page No. - 62)
     10.1 INTRODUCTION
     10.2 HARDWARE
             10.2.1 BULBS AND FIXTURES, METAL REFLECTORS, REFLECTIVE FILMS, AND BALLASTS ARE KEY HARDWARE COMPONENTS OF GROW LIGHT SYSTEM
     10.3 SOFTWARE & SERVICES
             10.3.1 SOFTWARE & SERVICES SEGMENT TO EXHIBIT HIGHER CAGR IN GROW LIGHT MARKET DURING 2020–2025

11 GROW LIGHTS MARKET, BY APPLICATION (Page No. - 66)
     11.1 INTRODUCTION
     11.2 COMMERCIAL GREENHOUSE
             11.2.1 COMMERCIAL GREENHOUSE USE GROW LIGHTS TO ACHIEVE HIGHER YIELD
     11.3 VERTICAL FARMING
             11.3.1 OPTIMUM USE OF VERTICAL SPACE AND BALANCED ENERGY UTILIZATION CREATE DEMAND FOR GROW LIGHTS IN VERTICAL FARMING
     11.4 INDOOR FARMING
             11.4.1 RISE IN GLOBAL POPULATION AND INCREASING REQUIREMENT FOR FOOD ACCELERATE DEMAND FOR GROW LIGHTS IN INDOOR FARMING
     11.5 OTHERS

12 GEOGRAPHIC ANALYSIS (Page No. - 74)
     12.1 INTRODUCTION
     12.2 NORTH AMERICA
             12.2.1 US
                       12.2.1.1 Presence of various manufacturers of grow light systems foster growth of grow lights market in US
             12.2.2 CANADA
                       12.2.2.1 Utilization of grow lights for cultivation of medical marijuana induce greater demand in Canada
             12.2.3 MEXICO
                       12.2.3.1 Extensive use of grow lights in tomato cultivation to accelerate their demand in Mexico
     12.3 EUROPE
             12.3.1 UK
                       12.3.1.1 Large-scale indoor farming practices in UK to boost demand for grow lights
             12.3.2 GERMANY
                       12.3.2.1 High adoption of grow lights in large-scale commercial greenhouses to fuel requirement for grow lights
             12.3.3 NETHERLANDS
                       12.3.3.1 Robust Presence of agriculture industry and key market players in country to augment growth of grow lights market
             12.3.4 SCANDINAVIA
                       12.3.4.1 Rapid adoption of grow lights in indoor farming and greenhouse applications to stimulate market growth in Scandinavian countries
             12.3.5 REST OF EUROPE
     12.4 APAC
             12.4.1 CHINA
                       12.4.1.1 Surging demand for high-quality fruits and vegetables to encourage use of grow lights in China
             12.4.2 JAPAN
                       12.4.2.1 Shortage of arable land in country to induce demand for grow lights
             12.4.3 AUSTRALIA
                       12.4.3.1 Less rainfall, along with legalization of cannabis, to facilitate use of grow lights for horticulture in Australia
             12.4.4 REST OF APAC
     12.5 REST OF THE WORLD
             12.5.1 SOUTH AMERICA
                       12.5.1.1 Vertical coffee farm in Brazil to provide lucrative opportunities for grow lights market
             12.5.2 MIDDLE EAST
                       12.5.2.1 Lack of fertile land in Middle East encouraging adoption of grow lights
             12.5.3 AFRICA
                       12.5.3.1 Deficiency of sunlight in long monsoon season in Africa promote implementation of grow lights

13 COMPETITIVE LANDSCAPE (Page No. - 97)
     13.1 OVERVIEW
     13.2 RANKING ANALYSIS OF KEY PLAYERS IN GROW LIGHTS MARKET
     13.3 COMPETITIVE SITUATIONS AND TRENDS
             13.3.1 PRODUCT LAUNCHES AND DEVELOPMENTS
             13.3.2 CONTRACTS
             13.3.3 COLLABORATIONS
     13.4 COMPETITIVE LEADERSHIP MAPPING, 2019
             13.4.1 VISIONARY LEADERS
             13.4.2 DYNAMIC DIFFERENTIATORS
             13.4.3 INNOVATORS
             13.4.4 EMERGING COMPANIES

14 COMPANY PROFILES (Page No. - 104)
     14.1 KEY PLAYERS
(Business overview, Products/solutions/services offered, Recent developments, SWOT analysis, and MnM view)*
             14.1.1 SIGNIFY HOLDING
             14.1.2 GAVITA INTERNATIONAL B.V.
             14.1.3 GENERAL ELECTRIC COMPANY
             14.1.4 OSRAM GMBH
             14.1.5 HELIOSPECTRA AB
             14.1.6 IWASAKI ELECTRIC CO., LTD.
             14.1.7 ILLUMITEX
             14.1.8 HORTILUX SCHRÉDER
             14.1.9 CALIFORNIA LIGHTWORKS
             14.1.10 ZUZI TECHNOLOGY
     14.2 OTHER IMPORTANT PLAYERS
             14.2.1 AEROFARMS
             14.2.2 EMIUM LLC
             14.2.3 INDULUX TECHNOLOGIES
             14.2.4 VALOYA
             14.2.5 KESSIL
*Details on Business overview, Products/solutions/services offered, Recent developments, SWOT analysis, and MnM view might not be captured in case of unlisted companies.
     14.3 KEY INNOVATORS
             14.3.1 THRIVE AGRITECH
             14.3.2 VIVIDGRO (SUBSIDIARY OF LIGHTING SCIENCE GROUP CORPORATION)
             14.3.3 BOWERY FARMING, INC.
             14.3.4 METROPOLIS FARMS
             14.3.5 CROP ONE HOLDINGS

15 APPENDIX (Page No. - 132)
     15.1 OTHER INSIGHTS FROM INDUSTRY EXPERTS
     15.2 DISCUSSION GUIDE
     15.3 KNOWLEDGE STORE: MARKETSANDMARKETS’  SUBSCRIPTION PORTAL
     15.4 AVAILABLE CUSTOMIZATIONS
     15.5 RELATED REPORTS
     15.6 AUTHOR DETAILS


LIST OF TABLES (61 Tables)

TABLE 1 EFFECTS OF DIFFERENT SPECTRUMS OF GROW LIGHTS ON DIFFERENT TYPES OF PLANTS
TABLE 2 GROW LIGHTS MARKET, BY WATT, 2017–2025 (USD MILLION)
TABLE 3 <300-WATT GROW LIGHTS MARKET, BY APPLICATION, 2017–2025 (USD MILLION)
TABLE 4 >300-WATT GROW LIGHTS MARKET, BY APPLICATION, 2017–2025 (USD MILLION)
TABLE 5 GROW LIGHTS MARKET, BY LIGHTING TYPE, 2017–2025 (USD MILLION)
TABLE 6 GROW LIGHTS MARKET FOR TOPLIGHTING, BY REGION, 2017–2025 (USD MILLION)
TABLE 7 GROW LIGHTS MARKET FOR INTERLIGHTING, BY REGION, 2017–2025 (USD MILLION)
TABLE 8 GROW LIGHTS MARKET, BY INSTALLATION TYPE, 2017–2025 (USD MILLION)
TABLE 9 GROW LIGHTS MARKET FOR NEW INSTALLATIONS, BY REGION, 2017–2025 (USD MILLION)
TABLE 10 GROW LIGHTS MARKET FOR RETROFIT INSTALLATIONS, BY REGION, 2017–2025 (USD MILLION)
TABLE 11 GROW LIGHTS MARKET, BY OFFERING, 2017–2025 (USD MILLION)
TABLE 12 GROW LIGHTS MARKET FOR HARDWARE, BY REGION, 2017–2025 (USD MILLION)
TABLE 13 GROW LIGHTS MARKET FOR SOFTWARE & SERVICES, BY REGION, 2017–2025 (USD MILLION)
TABLE 14 GROW LIGHTS MARKET, BY APPLICATION, 2017–2025 (USD MILLION)
TABLE 15 GROW LIGHTS MARKET FOR COMMERCIAL GREENHOUSE, BY WATT, 2017–2025 (USD MILLION)
TABLE 16 GROW LIGHTS MARKET FOR COMMERCIAL GREENHOUSE, BY REGION, 2017–2025 (USD MILLION)
TABLE 17 GROW LIGHTS MARKET FOR VERTICAL FARMING, BY WATT, 2017–2025 (USD MILLION)
TABLE 18 GROW LIGHTS MARKET FOR VERTICAL FARMING, BY REGION, 2017–2025 (USD MILLION)
TABLE 19 GROW LIGHTS MARKET FOR INDOOR FARMING, BY WATT, 2017–2025 (USD MILLION)
TABLE 20 GROW LIGHTS MARKET FOR INDOOR FARMING, BY REGION, 2017–2025 (USD MILLION)
TABLE 21 GROW LIGHTS MARKET FOR OTHER APPLICATIONS, BY WATT, 2017–2025 (USD MILLION)
TABLE 22 GROW LIGHTS MARKET FOR OTHER APPLICATIONS, BY REGION, 2017–2025 (USD THOUSAND)
TABLE 23 GROW LIGHTS MARKET, BY REGION, 2017–2025 (USD MILLION)
TABLE 24 GROW LIGHTS MARKET IN NORTH AMERICA, BY COUNTRY, 2017–2025 (USD MILLION)
TABLE 25 GROW LIGHTS MARKET IN NORTH AMERICA, BY LIGHTING TYPE, 2017–2025 (USD MILLION)
TABLE 26 GROW LIGHTS MARKET IN NORTH AMERICA, BY INSTALLATION TYPE, 2017–2025 (USD MILLION)
TABLE 27 GROW LIGHTS MARKET IN NORTH AMERICA, BY OFFERING, 2017–2025 (USD MILLION)
TABLE 28 GROW LIGHTS MARKET IN NORTH AMERICA, BY APPLICATION, 2017–2025 (USD MILLION)
TABLE 29 GROW LIGHTS MARKET IN US, BY APPLICATION, 2017–2025 (USD MILLION)
TABLE 30 GROW LIGHTS MARKET IN CANADA, BY APPLICATION, 2017–2025 (USD MILLION)
TABLE 31 GROW LIGHTS MARKET IN MEXICO, BY APPLICATION, 2017–2025 (USD MILLION)
TABLE 32 GROW LIGHTS MARKET IN EUROPE, BY COUNTRY, 2017–2025 (USD MILLION)
TABLE 33 GROW LIGHTS MARKET IN EUROPE, BY LIGHTING TYPE, 2017–2025 (USD MILLION)
TABLE 34 GROW LIGHTS MARKET IN EUROPE, BY INSTALLATION TYPE, 2017—2025 (USD MILLION)
TABLE 35 GROW LIGHTS MARKET IN EUROPE, BY OFFERING, 2017–2025 (USD MILLION)
TABLE 36 GROW LIGHTS MARKET IN EUROPE, BY APPLICATION, 2017–2025 (USD MILLION)
TABLE 37 GROW LIGHTS MARKET IN UK, BY APPLICATION, 2017–2025 (USD MILLION)
TABLE 38 GROW LIGHTS MARKET IN GERMANY, BY APPLICATION, 2017–2025 (USD MILLION)
TABLE 39 GROW LIGHTS MARKET IN NETHERLANDS, BY APPLICATION, 2017–2025 (USD MILLION)
TABLE 40 GROW LIGHTS MARKET IN SCANDINAVIA, BY APPLICATION, 2017–2025 (USD MILLION)
TABLE 41 GROW LIGHTS MARKET IN REST OF EUROPE, BY APPLICATION, 2017–2025 (USD MILLION)
TABLE 42 GROW LIGHTS MARKET IN APAC, BY COUNTRY, 2017–2025 (USD MILLION)
TABLE 43 GROW LIGHTS MARKET IN APAC, BY LIGHTING TYPE, 2017–2025 (USD MILLION)
TABLE 44 GROW LIGHTS MARKET IN APAC, BY INSTALLATION TYPE, 2017–2025 (USD MILLION)
TABLE 45 GROW LIGHTS MARKET IN APAC, BY OFFERING, 2017–2025 (USD MILLION)
TABLE 46 GROW LIGHTS MARKET IN APAC, BY APPLICATION, 2017–2025 (USD MILLION)
TABLE 47 GROW LIGHTS MARKET IN CHINA, BY APPLICATION, 2017–2025 (USD MILLION)
TABLE 48 GROW LIGHTS MARKET IN JAPAN, BY APPLICATION, 2017–2025 (USD MILLION)
TABLE 49 GROW LIGHTS MARKET IN AUSTRALIA, BY APPLICATION, 2017–2025 (USD MILLION)
TABLE 50 GROW LIGHTS MARKET IN REST OF APAC, BY APPLICATION, 2017–2025 (USD MILLION)
TABLE 51 GROW LIGHTS MARKET IN ROW, BY COUNTRY, 2017–2025 (USD MILLION)
TABLE 52 GROW LIGHTS MARKET IN ROW, BY LIGHTING TYPE, 2017–2025 (USD MILLION)
TABLE 53 GROW LIGHTS MARKET IN ROW, BY INSTALLATION TYPE, 2017–2025 (USD MILLION)
TABLE 54 GROW LIGHTS MARKET IN ROW, BY OFFERING, 2017–2025 (USD MILLION)
TABLE 55 GROW LIGHTS MARKET IN ROW, BY APPLICATION, 2017–2025 (USD MILLION)
TABLE 56 GROW LIGHTS MARKET IN SOUTH AMERICA, BY APPLICATION, 2017–2025 (USD THOUSAND)
TABLE 57 GROW LIGHTS MARKET IN MIDDLE EAST, BY APPLICATION, 2017–2025 (USD MILLION)
TABLE 58 GROW LIGHTS MARKET IN AFRICA, BY APPLICATION, 2017–2025 (USD THOUSAND)
TABLE 59 PRODUCT LAUNCHES AND DEVELOPMENTS, 2019–2020
TABLE 60 CONTRACTS, 2019–2020
TABLE 61 COLLABORATIONS, 2019
 
 
LIST OF FIGURES (50 Figures)
 
FIGURE 1 GROW LIGHTS MARKET SEGMENTATION
FIGURE 2 GROW LIGHTS MARKET: PROCESS FLOW OF MARKET SIZE ESTIMATION
FIGURE 3 GROW LIGHTS MARKET: RESEARCH DESIGN
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 1 (SUPPLY SIDE): REVENUE GENERATED BY COMPANIES FROM SOLUTIONS/PRODUCTS/ SERVICES OFFERED IN GROW LIGHTS MARKET
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 2 (DEMAND SIDE): ADOPTION LEVEL OF GROW LIGHTS BY DIFFERENT END USERS
FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
FIGURE 8 DATA TRIANGULATION
FIGURE 9 RETROFIT INSTALLATIONS TO REGISTER HIGHER CAGR DURING FORECAST PERIOD
FIGURE 10 VERTICAL FARMING TO ACCOUNT FOR LARGEST SIZE OF GROW LIGHTS MARKET DURING FORECAST PERIOD
FIGURE 11 TOPLIGHTING EXPECTED TO CONTINUE TO HOLD LARGER MARKET SIZE DURING 2020–2025
FIGURE 12 EUROPE ACCOUNTED FOR LARGEST SHARE OF GROW LIGHTS MARKET IN 2019
FIGURE 13 SCENARIO ANALYSIS, 2020–2025
FIGURE 14 INCREASING ADOPTION OF CONTROLLED ENVIRONMENT AGRICULTURE IN URBAN AREAS DRIVE DEMAND FOR GROW LIGHTS
FIGURE 15 MARKET FOR INDOOR FARMING EXPECTED TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
FIGURE 16 COMMERCIAL GREENHOUSE AND NETHERLANDS HELD LARGEST SHARE OF EUROPEAN GROW LIGHTS MARKET, BY APPLICATION AND COUNTRY, RESPECTIVELY, IN 2020
FIGURE 17 INTERLIGHTING TO RECORD HIGHER CAGR IN EUROPEAN GROW LIGHTS MARKET DURING FORECAST PERIOD
FIGURE 18 APAC TO EXHIBIT HIGHEST CAGR IN GROW LIGHTS MARKET DURING  2020–2025
FIGURE 19 GROW LIGHTS MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES,  AND CHALLENGES
FIGURE 20 IMPACT ANALYSIS: DRIVERS
FIGURE 21 IMPACT ANALYSIS: RESTRAINTS
FIGURE 22 IMPACT ANALYSIS: OPPORTUNITIES
FIGURE 23 IMPACT ANALYSIS: CHALLENGES
FIGURE 24 VALUE CHAIN ANALYSIS: GROW LIGHTS MARKET
FIGURE 25 GROW LIGHTS MARKET, BY WATT
FIGURE 26 >300 WATT SEGMENT TO LEAD GROW LIGHTS MARKET DURING FORECAST PERIOD
FIGURE 27 GROW LIGHTS MARKET, BY LIGHTING TYPE
FIGURE 28 TOPLIGHTING EXPECTED TO HOLD LARGER SIZE OF GROW LIGHTS MARKET DURING FORECAST PERIOD
FIGURE 29 GROW LIGHTS MARKET, BY INSTALLATION TYPE
FIGURE 30 RETROFIT INSTALLATIONS TO EXHIBIT HIGHER CAGR IN GROW LIGHTS MARKET DURING FORECAST PERIOD
FIGURE 31 GROW LIGHTS MARKET, BY OFFERING
FIGURE 32 SOFTWARE & SERVICES SEGMENT TO EXHIBIT HIGHER GROWTH RATE IN GROW LIGHTS MARKET DURING FORECAST PERIOD
FIGURE 33 GROW LIGHTS MARKET, BY APPLICATION
FIGURE 34 VERTICAL FARMING TO HOLD LARGEST SIZE OF GROW LIGHTS MARKET DURING FORECAST PERIOD
FIGURE 35 GROW LIGHTS MARKET, BY GEOGRAPHY
FIGURE 36 GROW LIGHTS MARKET IN NORTH AMERICA
FIGURE 37 SNAPSHOT: GROW LIGHTS MARKET IN NORTH AMERICA, 2019
FIGURE 38 GROW LIGHTS MARKET IN EUROPE
FIGURE 39 SNAPSHOT OF GROW LIGHTS MARKET IN EUROPE, 2019
FIGURE 40 GROW LIGHTS MARKET IN APAC
FIGURE 41 SNAPSHOT OF GROW LIGHTS MARKET IN APAC, 2019
FIGURE 42 GROW LIGHTS MARKET IN ROW
FIGURE 43 KEY GROWTH STRATEGIES, 2017–2020
FIGURE 44 GROW LIGHTS MARKET: RANKING OF KEY COMPANIES
FIGURE 45 GROW LIGHTS MARKET (GLOBAL) COMPETITIVE LEADERSHIP MAPPING, 2019
FIGURE 46 SIGNIFY HOLDING: COMPANY SNAPSHOT
FIGURE 47 GENERAL ELECTRIC COMPANY: COMPANY SNAPSHOT
FIGURE 48 OSRAM GMBH: COMPANY SNAPSHOT
FIGURE 49 HELIOSPECTRA AB: COMPANY SNAPSHOT
FIGURE 50 IWASAKI ELECTRIC CO., LTD.: COMPANY SNAPSHOT

The study involved 4 major activities in estimating the current size of the grow lights market. Exhaustive secondary research has been done to collect information on the market, the peer markets, and the parent market. To validate these findings, assumptions, and sizing with industry experts across the value chain through primary research has been the next step. Both top-down and bottom-up approaches have been employed to estimate the complete market size. After that, market breakdown and data triangulation have been used to estimate the market size of segments and subsegments.

Secondary Research

Secondary sources referred to in this research study include corporate filings (such as company websites, investor presentations, and financial statements); trade, business, and professional associations; white papers, grow lights-related journals, IEST publications; directories; and databases. The secondary data has been collected and analyzed to arrive at the overall market size estimations, which has been further validated by primary research.

Primary Research

In the primary research process, various primary sources from both supply and demand sides have been interviewed to obtain qualitative and quantitative information relevant to this report. Extensive primary research has been conducted after understanding and analyzing the grow lights and market through secondary research. Several primary interviews have been conducted with key opinion leaders from both demand- and supply-side vendors across 4 regions: the Americas, Europe, APAC, and RoW. RoW comprises the Middle East and Africa, and South America. Approximately 30% of the primary interviews have been conducted with the demand side and 70% with the supply side. This primary data has been collected mainly through telephonic interviews, which accounted for 80% of the total primary interviews. Besides, questionnaires and emails have also been used to collect the data.

Grow Lights Market

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches have been implemented to estimate and validate the total size of the grow lights market. These methods have also been used extensively to estimate the size of the markets based on various subsegments. The research methodology used to estimate the market size includes the following steps:

  • The key players in the industry and markets have been identified through extensive secondary research.
  • The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size—using the market size estimation processes as explained above—the market has been split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation and market breakdown procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from the demand and supply sides across different end-use applications.

Study Objectives

  • To describe and forecast the grow lights market, in terms of value, segmented by watt, lighting type, installation type, offering, and application
  • To describe and forecast the market size by regions—North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
  • To provide detailed information regarding the major factors such as drivers, restraints, opportunities, and challenges influencing the growth of the market
  • To strategically analyze micromarkets with respect to individual growth trends, prospects, and their contributions to the overall market
  • To analyze opportunities in the market for stakeholders and provide a detailed competitive landscape of the market
  • To strategically profile key players in the market and comprehensively analyze their market ranking and core competencies
  • To analyze competitive developments such as contracts, product launches/developments, expansions, and research and development (R&D) activities carried out by players in the grow lights market

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to a company's specific needs. The following customization options are available for this report:

Regional Analysis

  • Country-wise breakdown for America, Europe, APAC, and RoW

Company Information

  • Detailed analysis and profiling of additional market players (up to 5)
COVID-19

Get in-depth analysis of the COVID-19 impact on the Grow Lights Market

Benchmarking the rapid strategy shifts of the Top 100 companies in the Grow Lights Market

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SE 4140
Published ON
May, 2020
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