Press release
Grow Light Market Timelines: Exponential Growth, Key Players, and Prevailing Trends
Grow Light Market Share
What Is The Projected Market Size Of The Global Grow Light Market And Its Growth Rate?
The Global Grow Light Market has shown a considerable increase in recent years:
• The market size stood at $4.22 billion in 2024,
• It grew to $4.96 billion in 2025, registering a CAGR of 17.4%,
• The market is expected to escalate to $9.22 billion by 2029, with an impressive CAGR of 16.8%.
These advances in the market can be attributed to factors such as cultivation of high-value crops, industry regulations, and increased demand for year-round produce, and expansion of vertical farming and rise in cannabis* cultivation.
What Is Driving The Growth In The Grow Light Market?
The increasing adoption of indoor farming practices is significantly driving the growth in the Grow Light market. Indoor farming, often employed when natural light is scarce, uses grow lights for plant development, possibly outperforming natural sunlight. The US agriculture industry's contribution of $1.53 trillion to the GDP in 2023 signifies its influence on the market. Consequently, these farming practices stimulate the continual expansion of the grow light market.
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Who Are the Key Players Driving Grow Light Market Growth?
Key players in the market responsible for driving its growth are:
- Everlight Electronics Co. Ltd.
- Gavita International b.v.
- Heliospectra AB
- Hortilux Schréder b.v.
- Illumitex Inc.
- Lumigrow Inc.
- Signify N.V.
- Sunlight Supply Inc.
- Platinum LED Lights LLC
- Hydrofarm Inc.
- Alta LED Corporation
- Valoya Ltd.
- Black Dog LED
- Advanced LED Lights
- ams-OSRAM AG
- GrowGeneration
- California LightWorks
- Electric Sky
- EYE Hortilux
- Kind LED Grow Lights
- BIOS Lighting
- Timber Grow Lights
- Kroptek
- SANlight GmbH
- Viparspectra
- Mars Hydro
- Spider Farmer
What Are The Key Trends In The Grow Light Market?
Major trends in the global Grow Light market include:
- Urban agriculture and vertical farming
- Regulatory shifts towards cannabis* cultivation
- Horticultural research and development
- Smart and connected lighting
- Customized light spectrum
What Are The Segments Of The Global Grow Light Market?
The Global Grow Light Market is segmented into:
1) By Type: Light Emitting Diode (LED), High Intensity Discharge (HID), Plasma, Fluorescent
2) By Spectrum: Full-Spectrum, Partial Spectrum
3) By Application: Indoor Farming, Commercial Greenhouse, Vertical Farming, Other Applications
Which Region Leads The Grow Light Market?
Europe was the largest region in the grow light market in 2024. However, Asia-Pacific is expected to be the fastest-growing market during the forecast period. Other regions featured in the report include Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Grow Light Market Global Market Report?
- Market Size Analysis: Analyze the Grow Light Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Grow Light Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Grow Light Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Grow Light Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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