Grow Light Market Top Producers and Consumers, Consumption, Share and Growth Opportunity 2030

Grow Light Market was valued at US$ 2.78 Bn. in 2023 and the total Grow Light revenue is expected to grow at 24.9% from 2024 to 2030, reaching nearly US$ 13.20 Bn.

Grow Light Market Overview

Maximize Market Research is a Business Consultancy Firm that has published a detailed analysis of the "Grow Light Market". The report includes key business insights, demand analysis, pricing analysis, and competitive landscape. The analysis in the report provides an in-depth aspect at the current status of the Grow Light market, with forecasts outspreading to the year 2030.

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Grow Light Market Scope and Methodology:

The market research report Grow Light contains extensive information on important topics, including those anticipated to fuel the industry's growth and impending problems. Stakeholders will have a thorough understanding of the competitive environment in the sector, the opportunities for investment in the Grow Light market, and the products endorsed by well-known brands. The study examines the industry's quantitative and qualitative aspects. One of the things the MMR probe looks into is a thorough analysis of the competition for the Grow Light Market.

A comprehensive list of needs and a detailed justification for each are included in the study. When creating the Grow Light Market, a wide range of primary and secondary information sources were taken into account, including official government documents, websites, annual reports, and expert and professional comments.

Grow Light Market Regional Insights

The market size, growth rate, import and export by region, and other pertinent data are all carefully examined in this study. The geographical analysis of the research makes it simple to comprehend the Grow Light market conditions in various nations. The Grow Light market is made up of the markets in North America, Europe, South America, Asia Pacific, and the Middle East.

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Grow Light Market Segmentation

by Technology

HID
LED
Fluorescent
Induction
Plasma

The market is divided into technology segments: High Intensity Discharge (HID), LED, fluorescent, and plasma. The HID sector led the Grow Light Market in terms of revenue in 2023, with a market share of more than 36%. The HID is mostly utilized for commercial cultivation, such as commercial greenhouses and vertical farms. The LED sector is expected to dominate during the projection period. The government's efforts to promote energy-efficient LEDs, together with expanding urban horticulture, are projected to drive the LED market. LED lights are most efficient when they are more expensive. LEDs produce the desired light at a certain wavelength. It can simultaneously give a dual band spectrum.

LEDs are beneficial at all stages of development. LEDs have a higher starting cost.However, with time, the cost will decrease. During the projection period, the plasma segment is expected to experience the greatest CAGR. Plasma lights produce full-spectrum light that resembles sunshine. These lights have a longer lifespan and produce less heat. Plasma lights utilize significantly less energy than other types of technology, but producing light of comparable intensity as HID and LED. Although initially pricey, plasma lights grow increasingly affordable over time. Plasma lights can help with both vegetative and flowering development.

by Installation

New
Retrofit

by Application

Indoor Farming
Vertical Farming
Commercial Greenhouse
Research

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Grow Light Market Key Players

1. Royal Philips
2. General Electric Company
3. Gavita Holland B.V.
4. LumiGrow, Inc.
5. Heliospectra AB
6. Borst Bloembollen B.V.
7. Transcend Lighting Inc.
8. Sunlight Supply Inc.
9. Beacon Lighting India
10.Walters Garden, Inc.
11.Osram Licht AG
12.Green Sense Farms
13.Eye Hortilux
14.ILUMINAR Lighting
15.A Daintree Company
16.PARsource
17.A Savant Company
18.Hubbell

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Key questions answered in the Grow Light Market are:

What is Grow Light?
What was the Grow Light market size in 2023?
What is the growth rate of the Grow Light Market?
Which are the factors expected to drive the Grow Light market growth?
What is the CAGR at which the Grow Light market will grow during the forecast period?
What are the different segments of the Grow Light Market?
Which is the fastest growing region in the Grow Lightmarket?
What growth strategies are the players considering to increase their presence in Grow Light?
What are the upcoming opportunities and trends for the Grow Light Market?
What are the recent industry trends that can be implemented to generate additional revenue streams for the Grow Light Market?
Who are the leading companies and what are their portfolios in Grow Light Market?
What segments are covered in the Grow Light Market?
Who are the key players in the Grow Light market?

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Key Offerings:

Past Market Size and Competitive Landscape (2018 to 2022)
Past Pricing and price curve by region (2018 to 2022)
Market Size, Share, Size & Forecast by different segment
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by Region
Market Segmentation - A detailed analysis by segment with their sub-segments and Region
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
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