Global Grow Lights Market Analysis and Outlook 2020-2025 - Europe to Hold Largest Share of the Global Market During the Forecast Period -

The "Grow Lights Market by Offering (Hardware, and Software & Services), Installation Type (New and Retrofit), Application (Commercial Greenhouses, Vertical Farming, Indoor Farming, and Others), Lighting Type, Watt, and Geography - Global Forecast to 2025" report has been added to's offering.

The global grow lights market was valued at USD 1.2 billion in 2019 and is projected to reach USD 2.5 billion by 2025; it is estimated to grow at a CAGR of 19.9% during the forecast period.

Major factors influencing the grow lights market's growth are the increasing adoption of indoor farming in urban areas; ongoing government initiatives to support energy-efficient lighting; the growing need for long-lasting, energy-efficient, and economical grow lights; the emerging trend of farm-to-table concept. Further, the rise of vertical farms, technological advancements in LED grow lights, the legalization of cannabis in different countries including the US, and the emergence of horticulture lighting software and calculator will create opportunities for the grow lights market. The major restraint for the market is the high setup and installation costs. The lack of standard testing practices for assessing product quality of grow lights and their fixtures pose a major challenge to this market.

New installations to hold larger share of grow lights market during forecast period.

The demand for fresh horticultural produce is increasing with the growing population. This is expected to encourage growers to set up new greenhouses and expand their existing production facilities to cultivate higher yield each year. The emergence of vertical farms, particularly in urban settings, is also contributing to the overall increase in horticultural output. Plants grown in vertical farms are entirely dependent on artificial lighting for photosynthesis; this factor is driving the growth of the market for new installations.

Among all applications, commercial greenhouses held largest share of grow lights market in 2019.

The commercial greenhouse accounted for the largest share of nearly 47% of the grow lights market, by application, in 2019. Commercial greenhouses have witnessed increased automation in the last decade, and the concept of controlled environment agriculture (CEA) is being implemented in greenhouses to maintain optimum growing conditions and obtain a higher yield. Growers are gradually realizing the potential benefits of cultivating plants inside a greenhouse; this has contributed to the development of commercial greenhouses.

Europe to hold largest share of grow lights market during forecast period.

Europe is expected to continue to dominate the grow lights market during the forecast period. This region has been using grow light systems for the past few decades in controlled environment agriculture (CEA) such as greenhouses, vertical farming, and indoor farming. The use of grow lights in this region is gradually increasing; from being a supplemental lighting source, grow lights are becoming the primary source of light in indoor farming operations. The population of Europe has grown significantly in recent years, and countries in the region are importing fruits and vegetables from the external markets of Africa and Asia in frozen form. To reduce dependency on imports, some of the major countries in this region are increasingly adopting CEA to obtain fresh produce from locally cultivated farms. This, in turn, is expected to generate a huge demand for grow light systems in the future.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

4.1 Attractive Growth Opportunities in Grow Lights Market

4.2 Grow Lights Market, by Application

4.3 Grow Lights Market in Europe, by Application and Country

4.4 Grow Lights Market in Europe, by Lighting Type

4.5 Grow Lights Market, by Region

5 Market Overview

5.1 Introduction

5.2 Market Dynamics

5.2.1 Drivers Increasing Adoption of Indoor Farming in Urban Areas Ongoing Government Initiatives to Support Energy-Efficient Lighting Growing Need for Long-Lasting, Energy-Efficient, and Economical Grow Lights Emerging Trend of Farm-To-Table Concept

5.2.2 Restraints Requirement for Varied Light Spectrum for Different Crops High Setup and Installation Costs

5.2.3 Opportunities Rise of Vertical Farms Technological Advancements in Led Grow Lights Legalization of Cannabis in Different Countries Including Us Emergence of Horticulture Lighting Software and Calculator

5.2.4 Challenges Lack of Standard Testing Practices for Assessing Product Quality of Grow Lights and Their Fixtures

6 Industry Trends

6.1 Value Chain Analysis

6.2 Covid-19 Impact on Grow Lights Market

6.2.1 Overview and Statistics

6.2.2 Impact on Grow Lights Market

7 Grow Lights Market, by Watt

7.1 Introduction

7.2 <300 Watt

7.2.1 <300 Watt Type of Grow Lights Are Largely Used for Cannabis Production

7.3 >300 Watt

7.3.1 >300 Watt Type of Grow Lights Are Suitable for Vegetable and Flower Production

8 Grow Lights Market, by Lighting Type

8.1 Introduction

8.2 Toplighting

8.2.1 Toplighting - Widely Used Lighting Type in Indoor Farming

8.3 Interlighting

8.3.1 Interlighting to Register Higher CAGR in Grow Lights Market During Forecast Period

9 Grow Lights Market, by Installation Type

9.1 Introduction

9.2 New Installations

9.2.1 Growing Adoption of Vertical Farming Boost New Installations of Grow Lights

9.3 Retrofit Installations

9.3.1 Retrofitting Installation of Grow Lights Help Save Energy, Improve Plant Quality, and Reduce Maintenance Cost

10 Grow Lights Market, by Offering

10.1 Introduction

10.2 Hardware

10.2.1 Bulbs and Fixtures, Metal Reflectors, Reflective Films, and Ballasts Are Key Hardware Components of Grow Light System

10.3 Software & Services

10.3.1 Software & Services Segment to Exhibit Higher CAGR in Grow Light Market During 2020-2025

11 Grow Lights Market, by Application

11.1 Introduction

11.2 Commercial Greenhouse

11.2.1 Commercial Greenhouse Use Grow Lights to Achieve Higher Yield

11.3 Vertical Farming

11.3.1 Optimum Use of Vertical Space and Balanced Energy Utilization Create Demand for Grow Lights in Vertical Farming

11.4 Indoor Farming

11.4.1 Rise in Global Population and Increasing Requirement for Food Accelerate Demand for Grow Lights in Indoor Farming

11.5 Others

12 Geographic Analysis

12.1 Introduction

12.2 North America

12.2.1 US Presence of Various Manufacturers of Grow Light Systems Foster Growth of Grow Lights Market in Us

12.2.2 Canada Utilization of Grow Lights for Cultivation of Medical Marijuana Induce Greater Demand in Canada

12.2.3 Mexico Extensive Use of Grow Lights in Tomato Cultivation to Accelerate Their Demand in Mexico

12.3 Europe

12.3.1 UK Large-Scale Indoor Farming Practices in Uk to Boost Demand for Grow Lights

12.3.2 Germany High Adoption of Grow Lights in Large-Scale Commercial Greenhouses to Fuel Requirement for Grow Lights

12.3.3 Netherlands Robust Presence of Agriculture Industry and Key Market Players in Country to Augment Growth of Grow Lights Market

12.3.4 Scandinavia Rapid Adoption of Grow Lights in Indoor Farming and Greenhouse Applications to Stimulate Market Growth in Scandinavian Countries

12.3.5 Rest of Europe

12.4 Apac

12.4.1 China Surging Demand for High-Quality Fruits and Vegetables to Encourage Use of Grow Lights in China

12.4.2 Japan Shortage of Arable Land in Country to Induce Demand for Grow Lights

12.4.3 Australia Less Rainfall, Along with Legalization of Cannabis, to Facilitate Use of Grow Lights for Horticulture in Australia

12.4.4 Rest of Apac

12.5 Rest of the World

12.5.1 South America Vertical Coffee Farm in Brazil to Provide Lucrative Opportunities for Grow Lights Market

12.5.2 Middle East Lack of Fertile Land in Middle East Encouraging Adoption of Grow Lights

12.5.3 Africa Deficiency of Sunlight in Long Monsoon Season in Africa Promote Implementation of Grow Lights

13 Competitive Landscape

13.1 Overview

13.2 Ranking Analysis of Key Players in Grow Lights Market

13.3 Competitive Situations and Trends

13.3.1 Product Launches and Developments

13.3.2 Contracts

13.3.3 Collaborations

13.4 Competitive Leadership Mapping, 2019

13.4.1 Visionary Leaders

13.4.2 Dynamic Differentiators

13.4.3 Innovators

13.4.4 Emerging Companies

14 Company Profiles

14.1 Key Players

14.1.1 Signify Holding

14.1.2 Gavita International B.V.

14.1.3 General Electric Company

14.1.4 Osram GmbH

14.1.5 Heliospectra AB

14.1.6 Iwasaki Electric Co. Ltd.

14.1.7 Illumitex

14.1.8 Hortilux Schroder

14.1.9 California Lightworks

14.1.10 Zuzi Technology

14.2 Other Important Players

14.2.1 Aerofarms

14.2.2 Emium LLC

14.2.3 Indulux Technologies

14.2.4 Valoya

14.2.5 Kessil

14.3 Key Innovators

14.3.1 Thrive Agritech

14.3.2 Vividgro (Subsidiary of Lighting Science Group Corporation)

14.3.3 Bowery Farming, Inc.

14.3.4 Metropolis Farms

14.3.5 Crop One Holdings

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