With 14.4% CAGR, India Grow Light Market Size to Reach US$ 155.8 Million 2022-2027

IMARC Group has recently released a new research study titled "India Grow Light Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027", offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.

What are the growth prospects of the india grow light industry?

The India grow light market reached a value of US$ 70.5 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 155.8 Million by 2027, exhibiting a CAGR of 14.4% during 2022-2027.

What is a india grow light?

Grow light refers to specialized LED light used for stimulating the growth of indoor plants. They emit electromagnetic radiation in the visible light spectrum, which aids in the procedure of photosynthesis and boosts healthy development. Grow lights are commercially available in high-intensity discharge (HID), light-emitting diodes (LED), incandescent variants, and high-pressure sodium (HPS).

they also offer several benefits, including cooler temperatures, longer lifespan, better efficiency, compact size, usage of full spectrum, and state rebates. In recent years, grow lights have gained traction due to their extensive adoption in home gardening, commercial indoor gardening, horticulture, food production, and plant propagation applications.

Impact of COVID-19:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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What are the major market drivers in the india grow light market?

One of the primary factors driving the market is the rapid establishment of vegetable factories across the country, on account of the increasing population. Grow lights facilitate the use of artificial environmental control, control of light, and fertigation. Additionally, the growing trend of vertical rooftop and commercial greenhouse farming is creating a positive market outlook. Other than this, the increasing utilization of solar power-based agriculture plants is positively influencing the market growth. Besides this, artificial lighting, such as LED lighting, high-pressure sodium lighting, and plasma lighting, can extend the availability of crops, thus increasing the product adoption rate across the country.

In line with this, the rising awareness about the importance of alternative farming due to the less availability of fertile agricultural land is creating lucrative growth opportunities for the key players operating in the industry. Furthermore, indoor farming can produce crops throughout the year, unlike traditional agricultiture, which leads to increased productivity, thus boosting product demand. Moreover, growing technological advancements in grow lights and extensive research and development (R&D) activities to introduce innovations in agricultural science and technology.

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Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Technology:

HID
LED
Fluorescent
Others

Breakup by Installation Type:

New Installations
Retrofit Installations

Breakup by Spectrum:

Full-Spectrum
Partial Spectrum

Breakup by Application:

Indoor Farming
Vertical Farming
Commercial Greenhouse
Turf and Landscaping
Others

By Region:

North India
West and Central India
South India
East India

Competitive Landscape:

The report has also analysed the competitive landscape of the market along with the profiles of the key players.

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