Press release
Grow Light Market to Reach USD 10.60 Bn by 2029, emerging at a CAGR of 24.9 percent and forecast 2023-2029
Grow Light Market
Maximize's report delivers unparalleled insights into the expansive Grow Light market, demonstrating its pivotal role in the growth of urban agriculture and the flourishing trend of vertical farming. These insights showcase how the use of grow lights extends the natural daylight hours, fostering plant health, growth, and yield. Moreover, the report emphasizes the increase in crop availability facilitated by artificial lights such as plasma, LED, and high-pressure sodium lighting, especially during the entire season. This growth is further spurred by the ever-increasing global population and the scarcity of arable land.
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Grow Light Market Research Methodology:
Our report is backed by a robust research methodology, incorporating the most recent developments and trends in the Grow Light market. It's designed to provide readers with deep insights and meaningful facts based on historical data and statistically supported market statistics. The report relies on a bottom-up approach to estimate market size and involves both primary and secondary research to identify key players and assess their market revenues.
What are Grow Light Market Dynamics:
Innovative technological advancements have significantly favored LED-based grow lights, surpassing traditional lighting technologies in aspects such as energy efficiency, lifespan, adaptability, and color quality. This has led to extensive adoption in vertical farms, indoor farms, and greenhouses. The flexibility of adjusting the spectrum of grow lights according to plant needs ensures optimal growth and development. However, high-intensity discharge (HID) lamps continue to be preferred for horticultural growers, both indoors and outdoors, due to their cost-effectiveness and capability to provide essential light intensity for plant growth.
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What is Grow Light Market Segmentation:
by Technology
• HID
• LED
• Fluorescent
• Induction
• Plasma
by Installation
• New
• Retrofit
by Application
• Indoor Farming
• Vertical Farming
• Commercial Greenhouse
• Research
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Who are Grow Light Market Key Players:
• 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
• Eye Hortilux
• ILUMINAR Lighting
• A Daintree Company
• PARsource
• A Savant Company
• Hubbell
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Table of content for the Grow Light Market includes:
Grow Light Market: Research Methodology
Grow Light Market: Executive Summary
Market Overview and Definitions
Introduction to the Global Market
Summary
Key Findings
Recommendations for Investors
Recommendations for Market Leaders
Recommendations for New Market Entry
3.Grow Light Market: Competitive Analysis
MMR Competition Matrix
Market Structure by region
Competitive Benchmarking of Key Players
Consolidation in the Market
MandA by region
Key Developments by Companies
Market Drivers
Market Restraints
Market Opportunities
Market Challenges
Market Dynamics
PORTERS Five Forces Analysis
PESTLE
Regulatory Landscape by region
North America
Europe
Asia Pacific
Middle East and Africa
South America
COVID-19 Impact
4.Company Profile: Key players
Company Overview
Financial Overview
Global Presence
Capacity Portfolio
Business Strategy
Recent Developments
Grow Light Market Regional Insights:
Europe: Europe claimed the largest market share, representing over 32% of the total Grow Light Market in 2022. The region is poised to sustain its dominance throughout the forecast period, driven by the growing population and the scarcity of fertile agricultural land. Additionally, heightened awareness regarding alternative farming practices is contributing to market growth.
Asia Pacific: The adoption of genetically modified crop technologies and a shift to LED lights for reduced energy consumption are expected to drive substantial growth in this region. Transitioning to LED lighting over conventional incandescent bulbs can also reduce greenhouse gas emissions, highlighting the region's commitment to sustainability.
Africa: The growing urban population and the commercialization of indoor farming are expected to drive demand in the African region. However, challenges related to funding, limited access to water and land, and technological constraints might impede expansion.
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Key Offerings:
Past Market Size and Competitive Landscape (2022 to 2029)
Past Pricing and price curve by region (2022 to 2029)
Market Size, Share, Size and Forecast by different segment | 2022-2029
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis by growth and trend
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations
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Maximize Market Research is one of the fastest-growing market research and business consulting firms serving clients globally. Our revenue impact and focused growth-driven research initiatives make us a proud partner of the majority of the Fortune 500 companies. We have a diversified portfolio and serve a variety of industries such as IT and telecom, chemical, food and beverage, aerospace and defense, healthcare and others.
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