India Grow Light Market 2023-2028: Size, Share, Price Trends | Research Report

IMARC Group, a leading market research company, has recently releases report titled "India Grow Light Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028." The study provides a detailed analysis of the industry, including India grow light market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the India grow light market?

The India grow light market size reached US$ 80.4 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 173.6 Million by 2028, exhibiting a growth rate (CAGR) of 13.5% during 2023-2028.

What is grow light?

Grow lights refer to artificial light sources that are used to stimulate the growth of plants by emitting electromagnetic radiation within the visible light spectrum, essentially acting as sunlight for photosynthesis. They are commercially available in various types, such as fluorescent, high-intensity discharge (HID), high-pressure sodium (HPS), light-emitting diodes (LED), and incandescent variants. They are used as artificial lighting to extend the availability of crops throughout the season and can be installed using two different methods, including new installations and retrofit installations that are implemented across various applications such as indoor farming, vertical farming, and commercial greenhouses in different regions. They also provide numerous benefits, such as lower heat emission, extended lifespan, enhanced energy efficiency, compact dimensions, utilization of the full light spectrum, and eligibility for state rebates. In addition, these lights can be adjusted in color, intensity, and temperature to replicate outdoor conditions. This ability to mimic natural environments creates an optimal setting for plant growth, ultimately helping improve crop yields. As a result, grow lights find extensive applications in home gardening, horticulture, commercial indoor gardening, food production, and plant propagation across India.

Request for a free sample copy of this report: https://www.imarcgroup.com/india-grow-light-market/requestsample

What are the growth prospects and trends in the India grow light industry?

The India grow lights market is primarily driven by the rapid establishment of vegetable factories in response to the growing population, as grow lights play a crucial role in these facilities by enabling artificial environmental control, light control, and fertigation. Moreover, the rising trend of vertical rooftop and commercial greenhouse farming is positively influencing market growth. Along with this, the increasing utilization of solar power-based agriculture plants has catalyzed market growth. Additionally, the surging adoption of artificial lighting, including LED lighting, high-pressure sodium lighting, and plasma lighting, which play a vital role in extending crop availability, is propelling the market growth. Besides this, rising awareness of the importance of alternative farming methods due to limited fertile agricultural land has augmented the product demand. Along with this, the increasing penetration of advanced technologies such as the Internet of Things (IoT),

Artificial Intelligence (AI), and robotics in farming technologies represent another major growth-inducing factor. Furthermore, shifting preferences toward indoor farming that offers year-round crop production, surpassing the limitations of traditional agriculture and increasing overall productivity, is contributing to market growth. Apart from this, the rising requirement for vertical farms and greenhouses due to the legalization of cultivation has accelerated the product adoption rate. Other factors, including ongoing research and development (R&D) activities in agricultural science and technology, a rising number of startups innovating novel technologies, and technological advancements, are also anticipated to drive the market further.

What is included in market 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

Breakup by Region:

North India
West and Central India
South India
East India

Ask Analyst for Customization and Browse full report with TOC List of Figure: https://www.imarcgroup.com/request?type=report&id=4305&flag=C

Note: If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

Contact US

IMARC Group

134 N 4th St. Brooklyn, NY 11249, USA

USA: +1-631-791-1145 | Asia: +91-120-433-0800

Email: sales@imarcgroup.com

Follow us on Twitter: @imarcglobal

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC Group's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

This release was published on openPR.