Grow Light Market - Detailed Study Analysis and Forecast by 2025
A grow light is an artificial source of light energy, which is especially designed to stimulate and power the growth of plants and seeds. Popularly called plant lights, grow lights are used in situations where there is a lack of naturally occurring light or where artificial sources of light are required to supplement sunlight. Grow lights are widely used in commercial greenhouses, vertical farms, and a range of horticulture applications to better the yield. Some of the major types are fluorescent grow lights, high-intensity discharge (HID) grow lights, and light-emitting diode (LED) grow lights. The adoption of grow lights has gained traction in recent years, driven by the growing popularity of controlled environment agriculture (CEA) and the increased adoption of LED lighting.
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Global Grow Light Market: Key Trends
Growth in indoor farming methods and soaring popularity of commercial greenhouses for cultivating plants are the key factors propelling the grow light market. Government regulations and intensive initiatives to support the adoption of solid state lighting (SSL) technologies, such as LED, across various regions have boosted the market. The increasing adoption of automation in commercial greenhouses has helped growers maximize their yield using grow lights, thereby accelerating their implementation in controlled environment agriculture practices. Efforts by manufacturers to speed up time-to-market for energy-efficient grow lights and the launch of customized products with specific intensity and wavelength are expected to open up lucrative avenues in the market. With vertical farming methods gathering steam in various developed nations, the grow light market is expected to witness numerous exciting opportunities for manufacturers.
Global Grow Light Market: Market Potential
Noribachi, a U.S.-based LED technology manufacturing company focusing on clean lighting technologies for commercial applications, announced in April, 2017 the launch of its advanced, full-spectrum LED grow lights. The product line features a wide range of warehouse grow lights and DIY kits developed in its Northern California Growlab. The innovative and high-end LED grow light is used by farmers to facilitate the growth cycle of different types of fruits, vegetables, and flowers. The LED technology developed by Noribachi enables a number of commercial growers and urban farmers to optimize space, increase light output, and reduce their energy costs.
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Noribachis Growlab (NGL) has been a key testing ground for several smart grow light technologies. As a vital part of NGLs testing environment, Noribachi has developed a program known as Customer Grow, which encourages its customers to send plants with specific growth requirements to the lab for testing. During the testing period, the company designs a customized equipment or fixture to maximize light output with due consideration of the optimum growth conditions for each plant, thereby helping growers improve the quality and quantity of the yield.
Over the past few years, technological advances in LED grow lights have led to cutting-edge innovations in the farming and horticulture industries, thereby creating abundant growth opportunities for manufacturers of LED.
Global Grow Light Market: Regional Outlook
Geographically, the Middle East and South America are prominent markets for grow lights. The regional markets are driven by the rising adoption of indoor farming methods. Constant advancement in urban farming technologies and the growing popularity of hydroponics among agriculturists are key factors fuelling the demand for grow lights in the developed regions of Asia Pacific and North America. Meanwhile, the impending food crisis in some regions, particularly in various parts of Southern Africa, is expected to stimulate the demand for vertical farming and CEA practices, thereby boosting the adoption of grow lights in these regions.
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Global Grow Light Market: Competitive Analysis
Several emerging players are forming partnerships with commercial agriculturists and research institutions to develop innovative grow lights that help control light levels dynamically in order to augment crop quality and maximize yield. Leading players are offering cloud-based solutions to gain a competitive edge over others. Major companies eyeing a significant share in the grow light market include General Electric Company, Osram Licht AG, LumiGrow, Inc., Royal Philips Electronics, Heliospectra Ab., IWASAKI ELECTRIC CO., LTD., Hortilux SchrEder B.V., Sunlight Supply Inc., and Gavita Holland B.V.
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