Grow Light Market is to grow at a 24.9% CAGR, with the United States leading the market through 2030

The Global Grow Light Market is expected to reach USD 13.20 Bn by 2030. The Global Grow Light Market is driven by the rise in the number of individuals affected by rare diseases.

Grow Light Market to Hit USD 13.20 Bn by 2030

The Global Grow Light Market was USD 2.78 Bn in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 24.9% from 2023 to 2030, reaching USD 13.20 Bn by 2030. In terms of energy efficiency, lifespan, adaptability, & colour quality, LED-based grow lights have outperformed all conventional lighting technologies. As a result of their increasing cost competitiveness, LED grow lights are widely active in applications like vertical farms, indoor farms & greenhouses. Many plants are grown indoors under grow lights. The spectrum of grow lights can be changed based on the needs of the plants.

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Grow Light Market Segmentation

By Technology: Grow lights are categorized into HID, LED, Fluorescent, Induction, and Plasma. HID lights (MH & HPS) offer high intensity but consume more energy, while LEDs are energy-efficient, long-lasting, and customizable, making them increasingly popular. Fluorescent lights are cost-effective for small-scale indoor gardening, induction lights provide efficiency with a longer lifespan, and plasma lights mimic natural sunlight but remain costly and less widely adopted.

By Installation: The market is divided into New Installation and Retrofit Installation. New installations involve setting up lighting systems in greenhouses, vertical farms, and indoor gardens, driven by urban farming and controlled-environment agriculture (CEA). Retrofit installations focus on upgrading existing systems with energy-efficient solutions like LEDs, driven by cost savings, sustainability goals, and regulatory requirements.

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Grow Light Market Regional Analysis

In North America, In North America, the grow light market is projected to reach approximately USD 3.3 billion by 2030, with a compound annual growth rate (CAGR) of 15.3% from 2023 to 2030. The United States grow light market size reached USD 1,263.3 million in 2024 and is projected to reach USD 2,862.7 million by 2033, exhibiting a CAGR of 9.04% during the forecast period (2025-2033).

The European The European grow light market is experiencing steady growth, driven by the increasing adoption of vertical farming, greenhouse cultivation, and government initiatives supporting sustainable agriculture. Key factors fuelling market expansion include advancements in LED technology, rising demand for year-round crop production, and the shift toward energy-efficient lighting solutions. Major contributors to market growth include Germany, the Netherlands, and France, where controlled-environment agriculture is rapidly expanding.

APAC, The Asia-Pacific (APAC) grow light market is experiencing rapid growth, driven by the increasing adoption of indoor and vertical farming, rising demand for year-round crop production, and advancements in LED technology. Rapid urbanization in APAC countries is leading to a need for vertical farming and indoor cultivation, which heavily relies on grow lights.

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Grow Light Market Competitive Landscape

Acuity Brands': In November 2023, Acuity Brands acquired the Arize horticultural lighting products from Current Lighting Solutions, LLC, enhancing its position in the horticultural lighting sector.

Signify's: Signify completed the acquisition of Fluence from ams OSRAM, integrating Fluence as a business unit within Signify's agricultural lighting division to drive innovation in horticultural lighting.

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Conclusion

Grow lights are becoming the preferred choice due to their superior energy efficiency, longer lifespan, and adaptability, making them ideal for applications such as vertical farming, indoor farms, and greenhouses.
The market is divided by technology (LED, HID, Fluorescent, Induction, Plasma) and installation type (New vs. Retrofit). The demand for energy-efficient retrofit installations is increasing due to cost savings and regulatory policies.

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