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Grow Light Industry Report 2025-2034: Market Dynamics, Trends, And Forecasts
Grow Light
What Is the Current Grow Light Market Size and Its Estimated Growth Rate?
In recent years, the market size for grow lights has seen significant expansion. An increase from $4.22 billion in 2024 to $4.96 billion in 2025 is expected, with a compound annual growth rate (CAGR) of 17.4%. The upswing during the historical period can be linked to the farming of high-value crops, advancements in plant development studies, developments in fluorescent and HID lights, changes in industry laws and regulations, and a mounting demand for produce all year round.
In the coming years, the grow light market size is projected to expand rapidly. By 2029, it is expected to reach $9.22 billion, with a compound annual growth rate (CAGR) of 16.8%. The upcoming growth can be tied to several factors such as the widespread enhancement of vertical farming, investment in research and development, the rising demand for indoor farming, an increase in cannabis* cultivation, and a focus on environmentally friendly solutions. Significant trends in the future include urban farming and vertical agriculture, regulatory changes favouring cannabis* cultivation, research and improvements in horticulture, smart and interconnected lighting, and light spectra customization.
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What Are the High-Growth Segments in the Grow Light Market?
The grow light market covered in this report is segmented -
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
Subsegments:
1) By Light Emitting Diode (LED): Full Spectrum LEDs, Red Or Blue Spectrum LEDs, COB (Chip On Board) LEDs
2) By High Intensity Discharge (HID): Metal Halide (MH), High Pressure Sodium (HPS)
3) By Plasma: Plasma Arc Lights, Plasma Grow Lights
4) By Fluorescent: T5 Fluorescent Lights, Compact Fluorescent Lights (CFL)
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What Key Drivers Are Expected to Influence Future Grow Light Market Growth?
The surge in indoor farming practices is playing a key role in driving the growth of the grow light market. Defined as the large-scale cultivation of crops or plants entirely indoors, indoor farming heavily relies on grow lights in absence of natural sunlight. These lights either mimic or surpass the effectiveness of sunlight for plant growth. For example, data from the United States Environmental Protection Agency - a US government agency - in September 2024, revealed that in 2023, agriculture added over $1.53 trillion to the U.S. gross domestic product, accounting for 10.4 percent of the country's total employment. As such, it's clear that the rise in indoor farming practices is fueling the expansion of the grow light market.
Which Companies Hold the Largest Share Across Different Grow Light Market Segments?
Major companies operating in the grow light market include 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 Trends Are Driving Growth in The Grow Light Market?
Leaders in the grow light market, like major corporations, are focusing their efforts on the creation of revolutionary solutions like next-generation LED grow lights. These are intended to boost energy efficiency, stimulate plant development, and cut down operating expenses. The term "next-generation LED grow lights" refers to cutting-edge illumination systems crafted specifically to boost plant growth through a more effective, targeted light spectrum. For example, an electronics manufacturing firm based in India, Polymatech Electronics, launched its advanced horticulture LED grow light dubbed RavayeTM in January 2023. This innovative product line was designed to improve agricultural tactics in vertical farming and hydroponics. Full-spectrum packages and monochromatic LEDs are featured in this line, which foster healthier plant growth by speeding up photosynthesis and enhancing nutritional value. RavayeTM, prioritizing cost efficiency, aspires to decrease lighting system costs for farmers, thus elevating profitability.
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What Are the Emerging Geographies for The Grow Light Market Growth?
Europe was the largest region in the grow light market in 2024. Asia-Pacific is expected to be the fastest-growing region in the grow light market report during the forecast period. The regions covered in the grow light market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Grow Light Market?
2. What is the CAGR expected in the Grow Light Market?
3. What Are the Key Innovations Transforming the Grow Light Industry?
4. Which Region Is Leading the Grow Light Market?
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