The global grow lights market was valued at USD 1.5 billion in 2022 and is projected to reach USD 7.2 billion by 2028; registering a CAGR of 30.7% during the forecast period. Strong government support for adoption of solid-state lighting technology and controlled-environment agriculture (CEA) practices is attributed to the increasing use of grow lights in vertical farming.
Signify Holding; Gavita International B.V.; GE Lighting; Current; ams-OSRAM AG; Heliospectra AB; California LightWorks; Valoya Oy; EYE Hortilux; Hortilux Schréder; ILUMINAR Lighting; Bridgelux, Inc.; PARsource; Hubbell; Agrolux; EconoLux; Oreon; GlacialLight Inc. Foxconn; VividGro; Hyperion Grow Lights; Nichia Corporation; Everlight Electronics Co., Ltd.; SANANBIO; LEDESTAR Opto-electronics Tech. Co., Ltd. are some of the key players in the grow lights market. To retain their presence in the grow lights market, these players have adopted growth strategies. Partnership have been the most dominating strategy adopted by the key players from 2020 to 2023 to help them broaden their customer base.
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Signify Holding earlier known as Philips Lighting, is a global leader in manufacturing lighting solutions for use in professional, consumer, and IoT settings. The company provides integrated and customized lighting systems and light management services, including light design and engineering, and remote monitoring and managed services. The company has three operating segments: Digital Solutions, Digital Products, and Conventional Products. Through its Digital solutions it offers LED systems and services. Digital Products sells a wide variety of LED lamps, namely spots, bulbs and tubes, and functional LED luminaires to the consumer and professional channels. In addition, it sells LED electronic components, consisting of LED drivers and LED modules, to OEMs for professional luminaire applications in the retail, office, industry, and outdoor segments. Through Conventional Products offers High-intensity discharge lamp (HID), Tube Luminescent (TL), compact fluorescent, halogen, incandescent, as well as electronic components (electronic ballasts and drivers) and specialty lighting.
Gavita International B.V. (Hawthorne) is the global market leader in assimilation lighting for professional horticulture and indoor growing projects. In 2016, Hawthorne Gardening Company acquired majority control and a 75% economic interest in the company. The company offers electronic fixtures, plasma fixtures, reflectors, and lamps. Besides the manufacturing and development of horticultural products such as high-efficiency reflectors, art electronic ballasts, complete fixtures, and lamps, Gavita provides lighting plans and testing facilities to its partners. Gavita is a specialized horticulture lighting company active worldwide with projects ranging from single fixtures to large greenhouses with more than 100,000 fixtures, serving the retail, research, and professional horticultural markets. The company works closely with experts from academic and research institutes, such as Wageningen University & Research, Plant Dynamics, and Proefstation voor de Groenteteelt Katelijne-Waver.
Heliospectra AB is a global leader in intelligent LED grow lights for greenhouse cultivation and controlled environments horticulture. The company designs and manufactures intelligent lighting solutions for horticultural applications. It combines variable LEDs with optics, remote sensing technologies, and heat dissipation mechanism to create an ideal environment for crop cultivation. Its patented bio feedback-based intelligent variable LED lights can be used for illumination in horticultural research, commercial greenhouses, forestry, botanical gardens, and indoor farming applications. These products are developed in collaboration with some of the world’s leading greenhouse and indoor growers to meet the demands of controlled growing environments. The company also offers automated lighting control systems. It has a strong presence in the legal marijuana/medical plants segment, as it is among the early movers in the marijuana grow lights market.
ams-OSRAM AG (OSRAM) is one of the leading global high-tech companies primarily focused on semiconductor-based technologies. ams AG acquired OSRAM Licht AG forming ams-OSRAM AG. OSRAM provides lighting systems for vertical farming. The company offers appropriate light recipes for plant development, depending on the growth pattern, appearance, and nutrient content of individual plants. The company also delivers greenhouse-based solutions to commercial growers worldwide by combining horticulture lighting leadership with expertise in technologies, sensors, and connectivity.
The company has two reporting segments: Semiconductors and Lamps & Systems. The Semiconductors segment comprises the historical business of ams and the historical business of OSRAM Opto Semiconductors (OS). The company offers LED including infrared LED lights, high-power laser diodes, and optical sensors for vertical farming. It focuses on semiconductor-based products and solutions (including LEDs) for the automotive, consumer, industrial, and medical technology markets. The Lamps & Systems segment comprises the historical business of OSRAM Automotive (AM) and OSRAM Digital (DI). It includes lamps and lighting systems, with a focus on the automotive and industrial end markets.
GE Lighting is a division of the General Electric Company, focusing on offering products such as consumer home lighting, commercial and industrial lighting, and solar and digital energy-efficiency and productivity solutions. General Lighting provides energy-efficient LED lights for indoor plants. The LED grow lights offered by the company are designed to fit a specific plant’s growth stage while providing quality light and cutting down on energy costs. The company offers a balanced light spectrum, wherein bulbs use a balanced red/blue light spectrum that optimizes the development stages of seeds and greens; the light appears white to the eye.
Grow Lights Market by Offering (Hardware, Software, Services), Watt, Spectrum, Cultivated Plant, Lighting Type, Light Source, Installation Type, Sales Channel, Application (Greenhouse, Indoor Farm, Vertical Farm) and Region - Global Forecast to 2028
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