Grow Lights Market by Offering (Hardware, Software & Services), Wattage (<300, >=300), Spectrum (Full Spectrum, Limited Spectrum), Cultivated Plant, Installation Type, Lighting Type, Sales Channel, Application and Region - Global Forecast to 2029
The grow lights market is expected to reach USD 6.4 billion by 2029 from USD 2.0 billion in 2024, at a CAGR of 26.5% during the 2024-2029 period.
LED grow lights have surpassed conventional lighting technologies in energy efficiency, lifespan, versatility, and color quality. With their increasing cost competitiveness, they're widely adopted in applications like vertical farms, indoor farms, and greenhouses, catering to various plant needs with different types, shapes, sizes, prices, and colors. LED grow lights outshine traditional high-intensity discharge (HID) lamps in energy efficiency and lifespan, offering a longer operating life of nearly 50,000 hours and consuming 50% to 85% less electricity. Their ability to emit specific spectrums tailored to plant requirements maximizes growth potential and nutritional value while reducing energy costs. Additionally, LEDs are lighter, easier to install, and less heat-emitting, ensuring plants remain unharmed even when placed in proximity. Their resistance to vibrations, thermal shocks, water, and moisture makes them ideal for greenhouse environments. These attributes, coupled with advancements in spectral tailoring and light distribution control, position LED grow lights as the preferred choice for year-round crop production, mitigating weather-dependent limitations of traditional farming methods.
LED grow lights play a pivotal role in enabling farmers to produce high-quality crops throughout the year, irrespective of weather conditions. Their ability to provide photosynthetically active radiation (PAR) for photosynthesis enhances plant quality and productivity, particularly in regions with limited sunlight. By optimizing light spectra for specific crops and offering greater lighting control, LED grow lights maximize yields and nutritional values while minimizing energy costs. Controlled environment agriculture (CEA), facilitated by LED lighting, allows for multiple harvests per year, with one indoor acre equivalent to several outdoor acres. The controlled environment minimizes pest infestation, post-harvest spoilage, and the impact of adverse weather conditions, ensuring high-quality, consistent yields. As climate change poses challenges to traditional farming, the adoption of CEA practices, powered by LED grow lights, is expected to surge, driving further demand for efficient indoor horticulture solutions.
“Legalization of medicinal plants in different countries to increase in the demand of grow lights marker.”
The legalization of medicinal plants, such as marijuana, has sparked a surge in the demand for grow lights, especially in areas where these plants are sanctioned. According to the report by National Conference of State Legislatures in April 2024, 24 states along with two territories and the District of Columbia, have legalized small amounts of cannabis (marijuana) for adult recreational use. Recently, legislation in Delaware, Maryland, Minnesota, Missouri, Ohio, and Rhode Island has been passed, permitting individuals aged 21 or older to possess specific quantities of cannabis. These new laws, except in Delaware, also allow individuals to cultivate marijuana at home, although the permitted number of plants varies by state. It's noteworthy that in all six of these areas, cannabis for medical purposes was legalized before recreational adult use.
In June 2022, Thailand marked a significant milestone by becoming the inaugural Asian nation to legalize cannabis. With this legislative change, cultivating and trading marijuana and hemp products, as well as utilizing plant parts for medicinal purposes, ceased to be criminal offenses. Consequently, methods such as grow tents, greenhouses, and vertical farms have become prevalent for indoor cannabis cultivation. However, all these methods necessitate the incorporation of artificial grow lights, thereby paving the way for promising market expansion opportunities.
With marijuana legalization, there's a noticeable trend among cannabis companies diversifying their product offerings. The increased legalization of cannabis cultivation has driven a higher demand for vertical farms and greenhouses, consequently boosting the need for LED-based grow lights. Cannabis grown without sunlight requires careful consideration of various factors. For instance, the heat emitted from HPS lights can damage the product, while LEDs, operating at lower temperatures, offer a solution to excessive heat emissions.
The advantages of LED lighting for cannabis growth are widely recognized: increased yields, shortened crop cycles, and consistent quality. Utilizing the appropriate blend of white, red, and blue LEDs promotes shorter, more compact cannabis plants with enhanced branching and improved THC/CBD potency.
“Fruits & Vegetables segment of grow lights market projected to record the highest market share during the forecast period.”
Grow lights ensure optimal plant growth and survival by providing tailored light spectra tailored to the specific requirements of different plants. The appropriate combination of light spectrum, intensity, and duration collectively stimulates plant growth, flowering, and reproduction. Fruits and vegetables such as cucumbers, tomatoes, lettuce, mint, basil, and strawberries are predominantly cultivated in Controlled Environment Agriculture (CEA) facilities.
Outdoor cultivation of these fruits and vegetables necessitates suitable soil, favorable climatic conditions, sunlight, adequate water supply, and high-quality seeds or plant materials, typically yielding only two harvests per season. Failure to meet these conditions can result in poor-quality or inedible produce. However, in vertical farms and greenhouses, these fruits and vegetables thrive in a controlled environment with optimized water and light conditions, often without soil. Harvests in these environments are unaffected by seasonal changes, climatic fluctuations, excessive water usage, or soil variations.
During the vegetative stage, young plants require blue light for growth, while plants in the flowering stage benefit from red spectrum wavelengths, which accelerate stem growth, promote flowering, and enhance fruit and chlorophyll production. Plants respond to light shortly after germination, even before the appearance of the first leaf. Insufficient light exposure during this critical stage can lead to elongated stems and weak plant growth. Adequate spacing between plants is essential to ensure each receives sufficient light for proper growth. Red and blue wavelengths are the most utilized by plants for photosynthesis.
Strawberries are one of the most cultivated fruits in vertical farms, with the trend of vertical farming for strawberries on the rise. A single square foot of a strawberry tower foundation can accommodate around 100 strawberry plants, a significant increase compared to traditional land cultivation, with potential for further growth by increasing the height of the vertical tower.
In May 2024, Heliospectra launched 1500W MITRA X LED light featuring an increased output of 5700µmol, wide beam optics, and 3.7 efficacy. With only 2 LED lights needed to cover a standard 8m trellis, the new MITRA X reduces investment costs for vegetable growers while ensuring high output and uniformity to optimize taste and yield. The expanded MITRA X platform emphasizes modularity and versatility, catering to various environments and crops to address the diverse requirements of contemporary growers.
“New installations arse expected to have the largest market share of grow lights in the forecast period.”
The demand for fresh horticultural produce is increasing due to the rapidly growing global population. This is expected to encourage growers to set up new greenhouses and expand their existing production facilities to cultivate higher yields each year. The emergence of vertical farms, particularly in urban settings, contributes to the overall increase in horticultural output. Plants grown in vertical farms depend entirely on artificial lighting for photosynthesis; this factor drives the market for new installations.
LED grow lights are preferred over traditional ones in vertical farms for increased productivity and reduced power consumption. These lights have a lower weight and are easier to configure. They emit less heat than high-intensity discharge (HID) bulbs, so the risk of plants getting burned even if LEDs are placed close to them is relatively low. Additionally, LEDs have a long operating life of nearly 50,000 hours, enabling them to be used for more than five years with 14–18 hours of daily operations.
The break-up of the profile of primary participants in the grow lights market-
Research Coverage
The report segments the grow lights market and forecasts its size based and region. The report also provides a comprehensive review of drivers, restraints, opportunities, and challenges influencing market growth. The report also covers qualitative aspects in addition to the quantitative aspects of the market.
Reasons to buy the report:
The report will help the market leaders/new entrants in this market with information on the closest approximate revenues for the overall grow lights market and related segments. This report will help stakeholders understand the competitive landscape and gain more insights to strengthen their position in the market and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
LED grow lights have surpassed conventional lighting technologies in energy efficiency, lifespan, versatility, and color quality. With their increasing cost competitiveness, they're widely adopted in applications like vertical farms, indoor farms, and greenhouses, catering to various plant needs with different types, shapes, sizes, prices, and colors. LED grow lights outshine traditional high-intensity discharge (HID) lamps in energy efficiency and lifespan, offering a longer operating life of nearly 50,000 hours and consuming 50% to 85% less electricity. Their ability to emit specific spectrums tailored to plant requirements maximizes growth potential and nutritional value while reducing energy costs. Additionally, LEDs are lighter, easier to install, and less heat-emitting, ensuring plants remain unharmed even when placed in proximity. Their resistance to vibrations, thermal shocks, water, and moisture makes them ideal for greenhouse environments. These attributes, coupled with advancements in spectral tailoring and light distribution control, position LED grow lights as the preferred choice for year-round crop production, mitigating weather-dependent limitations of traditional farming methods.
LED grow lights play a pivotal role in enabling farmers to produce high-quality crops throughout the year, irrespective of weather conditions. Their ability to provide photosynthetically active radiation (PAR) for photosynthesis enhances plant quality and productivity, particularly in regions with limited sunlight. By optimizing light spectra for specific crops and offering greater lighting control, LED grow lights maximize yields and nutritional values while minimizing energy costs. Controlled environment agriculture (CEA), facilitated by LED lighting, allows for multiple harvests per year, with one indoor acre equivalent to several outdoor acres. The controlled environment minimizes pest infestation, post-harvest spoilage, and the impact of adverse weather conditions, ensuring high-quality, consistent yields. As climate change poses challenges to traditional farming, the adoption of CEA practices, powered by LED grow lights, is expected to surge, driving further demand for efficient indoor horticulture solutions.
“Legalization of medicinal plants in different countries to increase in the demand of grow lights marker.”
The legalization of medicinal plants, such as marijuana, has sparked a surge in the demand for grow lights, especially in areas where these plants are sanctioned. According to the report by National Conference of State Legislatures in April 2024, 24 states along with two territories and the District of Columbia, have legalized small amounts of cannabis (marijuana) for adult recreational use. Recently, legislation in Delaware, Maryland, Minnesota, Missouri, Ohio, and Rhode Island has been passed, permitting individuals aged 21 or older to possess specific quantities of cannabis. These new laws, except in Delaware, also allow individuals to cultivate marijuana at home, although the permitted number of plants varies by state. It's noteworthy that in all six of these areas, cannabis for medical purposes was legalized before recreational adult use.
In June 2022, Thailand marked a significant milestone by becoming the inaugural Asian nation to legalize cannabis. With this legislative change, cultivating and trading marijuana and hemp products, as well as utilizing plant parts for medicinal purposes, ceased to be criminal offenses. Consequently, methods such as grow tents, greenhouses, and vertical farms have become prevalent for indoor cannabis cultivation. However, all these methods necessitate the incorporation of artificial grow lights, thereby paving the way for promising market expansion opportunities.
With marijuana legalization, there's a noticeable trend among cannabis companies diversifying their product offerings. The increased legalization of cannabis cultivation has driven a higher demand for vertical farms and greenhouses, consequently boosting the need for LED-based grow lights. Cannabis grown without sunlight requires careful consideration of various factors. For instance, the heat emitted from HPS lights can damage the product, while LEDs, operating at lower temperatures, offer a solution to excessive heat emissions.
The advantages of LED lighting for cannabis growth are widely recognized: increased yields, shortened crop cycles, and consistent quality. Utilizing the appropriate blend of white, red, and blue LEDs promotes shorter, more compact cannabis plants with enhanced branching and improved THC/CBD potency.
“Fruits & Vegetables segment of grow lights market projected to record the highest market share during the forecast period.”
Grow lights ensure optimal plant growth and survival by providing tailored light spectra tailored to the specific requirements of different plants. The appropriate combination of light spectrum, intensity, and duration collectively stimulates plant growth, flowering, and reproduction. Fruits and vegetables such as cucumbers, tomatoes, lettuce, mint, basil, and strawberries are predominantly cultivated in Controlled Environment Agriculture (CEA) facilities.
Outdoor cultivation of these fruits and vegetables necessitates suitable soil, favorable climatic conditions, sunlight, adequate water supply, and high-quality seeds or plant materials, typically yielding only two harvests per season. Failure to meet these conditions can result in poor-quality or inedible produce. However, in vertical farms and greenhouses, these fruits and vegetables thrive in a controlled environment with optimized water and light conditions, often without soil. Harvests in these environments are unaffected by seasonal changes, climatic fluctuations, excessive water usage, or soil variations.
During the vegetative stage, young plants require blue light for growth, while plants in the flowering stage benefit from red spectrum wavelengths, which accelerate stem growth, promote flowering, and enhance fruit and chlorophyll production. Plants respond to light shortly after germination, even before the appearance of the first leaf. Insufficient light exposure during this critical stage can lead to elongated stems and weak plant growth. Adequate spacing between plants is essential to ensure each receives sufficient light for proper growth. Red and blue wavelengths are the most utilized by plants for photosynthesis.
Strawberries are one of the most cultivated fruits in vertical farms, with the trend of vertical farming for strawberries on the rise. A single square foot of a strawberry tower foundation can accommodate around 100 strawberry plants, a significant increase compared to traditional land cultivation, with potential for further growth by increasing the height of the vertical tower.
In May 2024, Heliospectra launched 1500W MITRA X LED light featuring an increased output of 5700µmol, wide beam optics, and 3.7 efficacy. With only 2 LED lights needed to cover a standard 8m trellis, the new MITRA X reduces investment costs for vegetable growers while ensuring high output and uniformity to optimize taste and yield. The expanded MITRA X platform emphasizes modularity and versatility, catering to various environments and crops to address the diverse requirements of contemporary growers.
“New installations arse expected to have the largest market share of grow lights in the forecast period.”
The demand for fresh horticultural produce is increasing due to the rapidly growing global population. This is expected to encourage growers to set up new greenhouses and expand their existing production facilities to cultivate higher yields each year. The emergence of vertical farms, particularly in urban settings, contributes to the overall increase in horticultural output. Plants grown in vertical farms depend entirely on artificial lighting for photosynthesis; this factor drives the market for new installations.
LED grow lights are preferred over traditional ones in vertical farms for increased productivity and reduced power consumption. These lights have a lower weight and are easier to configure. They emit less heat than high-intensity discharge (HID) bulbs, so the risk of plants getting burned even if LEDs are placed close to them is relatively low. Additionally, LEDs have a long operating life of nearly 50,000 hours, enabling them to be used for more than five years with 14–18 hours of daily operations.
The break-up of the profile of primary participants in the grow lights market-
- By Company Type: Tier 1 – 35%, Tier 2 – 45%, Tier 3 – 20%
- By Designation Type: C Level – 40%, Director Level – 30%, Others – 30%
- By Region Type: North America – 20%, Europe –40 %, Asia Pacific – 30%, RoW – 10%,
Research Coverage
The report segments the grow lights market and forecasts its size based and region. The report also provides a comprehensive review of drivers, restraints, opportunities, and challenges influencing market growth. The report also covers qualitative aspects in addition to the quantitative aspects of the market.
Reasons to buy the report:
The report will help the market leaders/new entrants in this market with information on the closest approximate revenues for the overall grow lights market and related segments. This report will help stakeholders understand the competitive landscape and gain more insights to strengthen their position in the market and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
- Analysis of key drivers (rising investments in the establishment of vertical farms, greenhouses, and advanced technologies), restraints (human health risk associated with LED grow lights), opportunities (legalization of medicinal plants in different countries), and challenges (Complexities in implementing controlled environment agriculture (CEA) technology and the demand for technical expertise)
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the grow lights market
- Market Development: Comprehensive information about lucrative markets – the report analyses the grow lights market across varied regions.
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the grow lights market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and product offerings of leading players like ams-OSRAM AG (Austria), Signify Holding (Netherlands), SAVANT TECHNOLOGIES LLC. (US), ILUMINAR Lighting LLC. (US), and Gavita International B.V. (Netherlands).
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 STUDY SCOPE
1.3.1 MARKETS COVERED
FIGURE 1 GROW LIGHTS MARKET SEGMENTATION
1.3.2 REGIONS COVERED
FIGURE 2 GROW LIGHTS MARKET: REGIONS COVERED
1.3.3 INCLUSIONS & EXCLUSIONS
1.3.4 YEARS CONSIDERED
1.3.5 CURRENCY CONSIDERED
1.4 LIMITATIONS
1.5 STAKEHOLDERS
1.6 SUMMARY OF CHANGES
1.7 IMPACT OF RECESSION
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
2.2 GROWTH FORECAST ASSUMPTIONS
TABLE 1 MARKET GROWTH ASSUMPTIONS
FIGURE 3 GROW LIGHTS MARKET: RESEARCH DESIGN
2.2.1 SECONDARY DATA
2.2.1.1 Key data from secondary sources
2.2.1.2 Key secondary sources
2.2.2 PRIMARY DATA
2.2.2.1 Key data from primary sources
2.2.2.2 Interviews with experts
2.2.2.3 Breakdown of interviews with experts
2.2.2.4 Insights of industry experts
2.2.3 SECONDARY AND PRIMARY RESEARCH
2.3 MARKET SIZE ESTIMATION
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 1 (SUPPLY SIDE) – REVENUE GENERATED BY KEY PLAYERS
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 2 (SUPPLY SIDE) – REVENUE ESTIMATION OF KEY PLAYERS
FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 3 (DEMAND SIDE) —BOTTOM-UP ESTIMATION BASED ON REGION
2.3.1 BOTTOM-UP APPROACH
2.3.1.1 Approach to derive market size using bottom-up analysis
FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
2.3.2 TOP-DOWN APPROACH
2.3.2.1 Approach to derive market size using top-down analysis
FIGURE 8 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
2.4 MARKET SHARE ESTIMATION
2.5 DATA TRIANGULATION
FIGURE 9 DATA TRIANGULATION
2.6 RISK ASSESSMENT
TABLE 2 RISK FACTOR ANALYSIS
2.7 RECESSION-RELATED ASSUMPTIONS
2.8 RESEARCH ASSUMPTIONS AND LIMITATIONS
2.8.1 RESEARCH ASSUMPTIONS
2.8.2 RESEARCH LIMITATIONS
3 EXECUTIVE SUMMARY
FIGURE 10 VERTICAL FARMING SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
FIGURE 11 >=300 WATTS TO RECORD HIGHER CAGR DURING FORECAST PERIOD
FIGURE 12 EUROPE HELD LARGEST SHARE OF GROW LIGHTS MARKET IN 2023
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN GROW LIGHTS MARKET
FIGURE 13 RISING DEMAND FOR GROW LIGHTS IN INDOOR SETTINGS TO FUEL MARKET GROWTH
4.2 GROW LIGHTS MARKET, BY INSTALLATION TYPE
FIGURE 14 NEW INSTALLATIONS SEGMENT TO HOLD LARGER MARKET SHARE BETWEEN 2024 AND 2029
4.3 GROW LIGHTS MARKET, BY CULTIVATED PLANT
FIGURE 15 FRUITS & VEGETABLES SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
4.4 GROW LIGHTS MARKET, BY REGION
FIGURE 16 SOUTHEAST ASIA GROW LIGHTS MARKET TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 GROW LIGHTS MARKET DYNAMICS
FIGURE 17 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES IN GROW LIGHTS MARKET
5.2.1 DRIVERS
5.2.1.1 Surging demand for fresh food amid declining arable land
FIGURE 18 ARABLE LAND (% OF LAND AREA), 2000–2020
5.2.1.2 Robust government support for implementation of solid-state lighting technology and controlled-environment agriculture methodologies
5.2.1.3 Rising investments in establishment of vertical farms, greenhouses, and advanced technologies
5.2.1.4 Maximizing horticulture efficiency and unlocking year-round crop production
FIGURE 19 GROW LIGHTS MARKET DRIVERS: IMPACT ANALYSIS
5.2.2 RESTRAINTS
5.2.2.1 High investments in establishment and installation
5.2.2.2 Optimizing plant growth through varied light spectrums
5.2.2.3 Risk to human health due to LED grow lights
5.2.2.4 Constraints in optimal grow light placement for plant growth
FIGURE 20 GROW LIGHTS MARKET RESTRAINTS: IMPACT ANALYSIS
5.2.3 OPPORTUNITIES
5.2.3.1 Legalization of cannabis for medicinal purposes
5.2.3.2 Technological advancements in LED grow lights and automation in lighting systems
5.2.3.3 Prospective markets for vertical farming in Asia and Middle East
5.2.3.4 Integrated hardware, software, and data analytics platforms for horticultural yield estimation and energy conservation
FIGURE 21 GROW LIGHTS MARKET OPPORTUNITIES: IMPACT ANALYSIS
5.2.4 CHALLENGES
5.2.4.1 Complexities in implementing controlled environment agriculture technology and lack of technical expertise
5.2.4.2 Lack of standardized testing protocols for evaluating horticulture lighting product quality
FIGURE 22 GROW LIGHTS MARKET CHALLENGES: IMPACT ANALYSIS
5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
FIGURE 23 TRENDS AND DISRUPTIONS IMPACTING CUSTOMER BUSINESS
5.4 PRICING ANALYSIS
5.4.1 AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY WATTAGE
FIGURE 24 AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY WATTAGE, 2024
TABLE 3 AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY WATTAGE, 2020–2024 (USD)
5.4.2 INDICATIVE PRICING OF LED GROW LIGHTS, BY REGION
TABLE 4 INDICATIVE PRICING OF LED GROW LIGHTS, BY REGION, 2020–2024 (USD)
5.5 SUPPLY CHAIN ANALYSIS
FIGURE 25 SUPPLY CHAIN ANALYSIS: GROW LIGHTS MARKET
5.5.1 RESEARCH & DEVELOPMENT ENGINEERS
5.5.2 COMPONENT PROVIDERS/INPUT SUPPLIERS
5.5.3 ORIGINAL EQUIPMENT MANUFACTURERS
5.5.4 SYSTEM INTEGRATORS/TECHNOLOGY & SERVICE PROVIDERS
5.5.5 DISTRIBUTORS & SALES PARTNERS
5.5.6 APPLICATIONS
5.6 ECOSYSTEM ANALYSIS
TABLE 5 GROW LIGHTS MARKET: ECOSYSTEM ANALYSIS
FIGURE 26 KEY PLAYERS IN GROW LIGHTS MARKET
5.7 INVESTMENT AND FUNDING SCENARIO
FIGURE 27 INVESTMENT AND FUNDING SCENARIO FOR STARTUPS
5.8 TECHNOLOGY ANALYSIS
5.8.1 KEY TECHNOLOGIES
5.8.1.1 LED grow lights
5.8.1.2 UV and far-red light integration
5.8.1.3 Smart lighting
5.8.2 COMPLEMENTARY TECHNOLOGIES
5.8.2.1 Climate control systems
5.8.2.2 Hydroponic and aeroponic systems
5.8.3 ADJACENT TECHNOLOGY
5.8.3.1 Spectrum control technology
5.9 PATENT ANALYSIS
FIGURE 28 PATENTS APPLIED AND GRANTED, 2014–2023
TABLE 6 GROW LIGHTS MARKET: MAJOR PATENTS, 2023–2024
5.10 TRADE ANALYSIS
5.10.1 IMPORT SCENARIO (HS CODE 9405)
FIGURE 29 IMPORT DATA FOR HS CODE 9405, BY KEY COUNTRY, 2018–2022 (USD MILLION)
TABLE 7 IMPORT SCENARIO FOR HS CODE 9405-COMPLIANT PRODUCTS, BY COUNTRY, 2018–2022 (USD MILLION)
5.10.2 EXPORT SCENARIO (HS CODE 9405)
FIGURE 30 EXPORT DATA FOR HS CODE 9405, BY KEY COUNTRY, 2018–2022 (USD MILLION)
TABLE 8 EXPORT SCENARIO FOR HS CODE 9405-COMPLIANT PRODUCTS, BY COUNTRY, 2018–2022 (USD MILLION)
5.11 KEY CONFERENCES AND EVENTS, 2024–2025
TABLE 9 KEY CONFERENCES AND EVENTS, 2024–2025
5.12 CASE STUDY ANALYSIS
5.12.1 SIGNIFY HOLDING HELPS TOPLINE GERBERA NURSERY TRANSITION TO FULL LED LIGHTING
TABLE 10 PHILIPS GREENPOWER LED TOP LIGHTING INCREASES EFFICIENCY AND QUALITY FOR GROWER RINO MANS
5.12.2 MAXIMIZING BERRY PRODUCTION AT NOURSE FARMS WITH CALIFORNIA LIGHTWORKS MEGADRIVE LIGHTING SYSTEM
TABLE 11 INNOVATING BERRY CULTIVATION WITH STATE-OF-ART LIGHTING SOLUTIONS
5.12.3 NIPOMO AG HARNESSES CALIFORNIA LIGHTWORKS MEGADRIVE LED SYSTEM TO THRIVE IN COMPETITIVE CANNABIS MARKET
TABLE 12 PATENTED TECHNOLOGY DRIVES HIGHER YIELDS AND LOWER COSTS FOR SAN LUIS OBISPO GREENHOUSE
5.13 TARIFF AND REGULATORY LANDSCAPE
5.13.1 TARIFF ANALYSIS
TABLE 13 MFN TARIFF FOR HS CODE 9405-RELATED PRODUCTS EXPORTED BY CHINA (2023)
5.13.2 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 14 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 15 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 16 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 17 ROW: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.14 PORTER’S FIVE FORCES ANALYSIS
FIGURE 31 GROW LIGHTS MARKET: PORTER’S FIVE FORCES ANALYSIS
TABLE 18 IMPACT ANALYSIS OF PORTER’S FIVE FORCES
5.14.1 INTENSITY OF COMPETITIVE RIVALRY
5.14.2 THREAT OF NEW ENTRANTS
5.14.3 THREAT OF SUBSTITUTES
5.14.4 BARGAINING POWER OF BUYERS
5.14.5 BARGAINING POWER OF SUPPLIERS
5.15 KEY STAKEHOLDERS AND BUYING CRITERIA
5.15.1 KEY STAKEHOLDERS IN BUYING PROCESS
FIGURE 32 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY APPLICATION
TABLE 19 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR APPLICATIONS (%)
5.15.2 BUYING CRITERIA
FIGURE 33 KEY BUYING CRITERIA, BY APPLICATION
TABLE 20 KEY BUYING CRITERIA, BY APPLICATION
6 GROW LIGHTS MARKET, BY OFFERING
6.1 INTRODUCTION
FIGURE 34 HARDWARE SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD
TABLE 21 GROW LIGHTS MARKET, BY OFFERING, 2020–2023 (USD MILLION)
TABLE 22 GROW LIGHTS MARKET, BY OFFERING, 2024–2029 (USD MILLION)
6.2 HARDWARE
6.2.1 INCREASING DEMAND FOR HARDWARE COMPONENTS TO DRIVE MARKET
TABLE 23 HARDWARE: GROW LIGHTS MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 24 HARDWARE: GROW LIGHTS MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
6.3 SOFTWARE & SERVICES
6.3.1 BALANCE BETWEEN LIGHTING AND ENERGY COSTS TO DRIVE MARKET
TABLE 25 SOFTWARE & SERVICES: GROW LIGHTS MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 26 SOFTWARE & SERVICES: GROW LIGHTS MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
7 GROW LIGHTS MARKET, BY WATTAGE
7.1 INTRODUCTION
FIGURE 35 GROW LIGHTS MARKET, BY WATTAGE
FIGURE 36 >=300 WATTS GROW LIGHTS SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD
TABLE 27 GROW LIGHTS MARKET, BY WATTAGE, 2020–2023 (USD MILLION)
TABLE 28 GROW LIGHTS MARKET, BY WATTAGE, 2024–2029 (USD MILLION)
TABLE 29 GROW LIGHTS MARKET, BY WATTAGE, 2020–2023 (THOUSAND UNITS)
TABLE 30 GROW LIGHTS MARKET, BY WATTAGE, 2024–2029 (THOUSAND UNITS)
7.2 <300 WATTS
7.2.1 APPLICATIONS IN HYDROPONIC GREENHOUSES AND CANNABIS CULTIVATION TO DRIVE MARKET
TABLE 31 <300 WATTS: GROW LIGHTS MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 32 <300 WATTS: GROW LIGHTS MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
7.3 >=300 WATTS
7.3.1 CONSISTENT PHOTOSYNTHESIS STIMULATION PROMOTING RAPID PLANT GROWTH TO DRIVE MARKET
TABLE 33 >=300 WATTS: GROW LIGHTS MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 34 >=300 WATTS: GROW LIGHTS MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
8 GROW LIGHTS MARKET, BY SPECTRUM
8.1 INTRODUCTION
FIGURE 37 LIMITED SPECTRUM GROW LIGHTS SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD
TABLE 35 GROW LIGHTS MARKET, BY SPECTRUM, 2020–2023 (USD MILLION)
TABLE 36 GROW LIGHTS MARKET, BY SPECTRUM, 2024–2029 (USD MILLION)
8.2 FULL SPECTRUM
8.2.1 MIMICKING SUNLIGHT, ENHANCING PLANT GROWTH, ROOT DEVELOPMENT, AND HEALTH DRIVING MARKET
8.3 LIMITED SPECTRUM
8.3.1 RED AND BLUE SPECTRUMS OPTIMIZING PLANT GROWTH TO DRIVE MARKET
9 GROW LIGHTS MARKET, BY CULTIVATED PLANT
9.1 INTRODUCTION
FIGURE 38 FRUITS & VEGETABLES SEGMENT TO DOMINATE GROW LIGHTS MARKET DURING FORECAST PERIOD
TABLE 37 GROW LIGHTS MARKET, BY CULTIVATED PLANT, 2020–2023 (USD MILLION)
TABLE 38 GROW LIGHTS MARKET, BY CULTIVATED PLANT, 2024–2029 (USD MILLION)
9.2 FRUITS & VEGETABLES
9.2.1 RISING DEMAND FOR HIGH-QUALITY ORGANIC FRUITS & VEGETABLES TO DRIVE MARKET
TABLE 39 FRUITS & VEGETABLES: GROW LIGHTS MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 40 FRUITS & VEGETABLES: GROW LIGHTS MARKET, BY REGION, 2024–2029 (USD MILLION)
9.3 FLOWERS
9.3.1 ADVANTAGES OVER TRADITIONAL FARMING METHODS TO DRIVE MARKET
TABLE 41 FLOWERS: GROW LIGHTS MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 42 FLOWERS: GROW LIGHTS MARKET, BY REGION, 2024–2029 (USD MILLION)
9.4 CANNABIS
9.4.1 LEGALIZATION, HIGHER RETURNS ON INVESTMENT, AND AUGMENTED FUNDING TO PROPEL MARKET
TABLE 43 CANNABIS: GROW LIGHTS MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 44 CANNABIS: GROW LIGHTS MARKET, BY REGION, 2024–2029 (USD MILLION)
10 GROW LIGHTS MARKET, BY INSTALLATION TYPE
10.1 INTRODUCTION
FIGURE 39 RETROFIT INSTALLATIONS SEGMENT TO REGISTER HIGH GROWTH RATE DURING FORECAST PERIOD
TABLE 45 GROW LIGHTS MARKET, BY INSTALLATION TYPE, 2020–2023 (USD MILLION)
TABLE 46 GROW LIGHTS MARKET, BY INSTALLATION TYPE, 2024–2029 (USD MILLION)
10.2 NEW INSTALLATIONS
10.2.1 RISING DEMAND FOR VERTICAL AND INDOOR FARMING TO DRIVE MARKET
TABLE 47 NEW INSTALLATIONS: GROW LIGHTS MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 48 NEW INSTALLATIONS: GROW LIGHTS MARKET, BY REGION, 2024–2029 (USD MILLION)
10.3 RETROFIT INSTALLATIONS
10.3.1 ENERGY CONSERVATION AND REDUCED OPERATIONAL COSTS TO DRIVE MARKET
TABLE 49 RETROFIT INSTALLATIONS: GROW LIGHTS MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 50 RETROFIT INSTALLATIONS: GROW LIGHTS MARKET, BY REGION, 2024–2029 (USD MILLION)
11 GROW LIGHTS MARKET, BY LIGHTING TYPE
11.1 INTRODUCTION
FIGURE 40 TOP LIGHTING SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD
TABLE 51 GROW LIGHTS MARKET, BY LIGHTING TYPE, 2020–2023 (USD MILLION)
TABLE 52 GROW LIGHTS MARKET, BY LIGHTING TYPE, 2024–2029 (USD MILLION)
11.2 TOP LIGHTING
11.2.1 LIGHTING IN INDOOR CULTIVATION MIMICKING SUNLIGHT TO DRIVE MARKET
TABLE 53 TOP LIGHTING: GROW LIGHTS MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 54 TOP LIGHTING: GROW LIGHTS MARKET, BY REGION, 2024–2029 (USD MILLION)
11.3 INTERLIGHTING
11.3.1 BIDIRECTIONAL LIGHTS ENABLING HIGHER YIELDS TO DRIVE MARKET
TABLE 55 INTERLIGHTING: GROW LIGHTS MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 56 INTERLIGHTING: GROW LIGHTS MARKET, BY REGION, 2024–2029 (USD MILLION)
12 GROW LIGHTS MARKET, BY SALES CHANNEL
12.1 INTRODUCTION
FIGURE 41 DISTRIBUTION CHANNELS SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD
TABLE 57 GROW LIGHTS MARKET, BY SALES CHANNEL, 2020–2023 (USD MILLION)
TABLE 58 GROW LIGHTS MARKET, BY SALES CHANNEL, 2024–2029 (USD MILLION)
12.2 DISTRIBUTION CHANNELS
12.2.1 SUPERIOR AFTER-SALES SUPPORT TO DRIVE MARKET
12.3 E-COMMERCE CHANNELS
12.3.1 RISING PREFERENCE BY SMALL GROWERS/HOME-BASED GROWERS TO BOOST MARKET
12.4 DIRECT SALES CHANNELS
12.4.1 INCREASING APPREHENSIONS REGARDING COUNTERFEIT PRODUCTS TO DRIVE MARKET
13 GROW LIGHTS MARKET, BY APPLICATION
13.1 INTRODUCTION
FIGURE 42 GROW LIGHTS MARKET, BY APPLICATION
FIGURE 43 VERTICAL FARMING SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
TABLE 59 GROW LIGHTS MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 60 GROW LIGHTS MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
13.2 GREENHOUSES
13.2.1 PROTECTED ENVIRONMENTS ENSURING OPTIMAL YIELDS TO DRIVE MARKET
TABLE 61 GREENHOUSES: GROW LIGHTS MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 62 GREENHOUSES: GROW LIGHTS MARKET, BY REGION, 2024–2029 (USD MILLION)
TABLE 63 GREENHOUSES: GROW LIGHTS MARKET, BY WATTAGE, 2020–2023 (USD MILLION)
TABLE 64 GREENHOUSES: GROW LIGHTS MARKET, BY WATTAGE, 2024–2029 (USD MILLION)
TABLE 65 GREENHOUSES: GROW LIGHTS MARKET, BY OFFERING, 2020–2023 (USD MILLION)
TABLE 66 GREENHOUSES: GROW LIGHTS MARKET, BY OFFERING, 2024–2029 (USD MILLION)
13.3 VERTICAL FARMING
13.3.1 MAXIMIZING SPACE AND ENERGY EFFICIENCY TO DRIVE MARKET
TABLE 67 VERTICAL FARMING: GROW LIGHTS MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 68 VERTICAL FARMING: GROW LIGHTS MARKET, BY REGION, 2024–2029 (USD MILLION)
TABLE 69 VERTICAL FARMING: GROW LIGHTS MARKET, BY WATTAGE, 2020–2023 (USD MILLION)
TABLE 70 VERTICAL FARMING: GROW LIGHTS MARKET, BY WATTAGE, 2024–2029 (USD MILLION)
TABLE 71 VERTICAL FARMING: GROW LIGHTS MARKET, BY OFFERING, 2020–2023 (USD MILLION)
TABLE 72 VERTICAL FARMING: GROW LIGHTS MARKET, BY OFFERING, 2024–2029 (USD MILLION)
13.4 INDOOR FARMING
13.4.1 AUGMENTING LIGHT, NUTRITION FOR HOUSEPLANTS, HASTENING GROWTH AND FLOWERING TO DRIVE MARKET
TABLE 73 INDOOR FARMING: GROW LIGHTS MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 74 INDOOR FARMING: GROW LIGHTS MARKET, BY REGION, 2024–2029 (USD MILLION)
TABLE 75 INDOOR FARMING: GROW LIGHTS MARKET, BY WATTAGE, 2020–2023 (USD MILLION)
TABLE 76 INDOOR FARMING: GROW LIGHTS MARKET, BY WATTAGE, 2024–2029 (USD MILLION)
TABLE 77 INDOOR FARMING: GROW LIGHTS MARKET, BY OFFERING, 2020–2023 (USD MILLION)
TABLE 78 INDOOR FARMING: GROW LIGHTS MARKET, BY OFFERING, 2024–2029 (USD MILLION)
13.5 OTHER APPLICATIONS
TABLE 79 OTHER APPLICATIONS: GROW LIGHTS MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 80 OTHER APPLICATIONS: GROW LIGHTS MARKET, BY REGION, 2024–2029 (USD MILLION)
TABLE 81 OTHER APPLICATIONS: GROW LIGHTS MARKET, BY WATTAGE, 2020–2023 (USD MILLION)
TABLE 82 OTHER APPLICATIONS: GROW LIGHTS MARKET, BY WATTAGE, 2024–2029 (USD MILLION)
TABLE 83 OTHER APPLICATIONS: GROW LIGHTS MARKET, BY OFFERING, 2020–2023 (USD MILLION)
TABLE 84 OTHER APPLICATIONS: GROW LIGHTS MARKET, BY OFFERING, 2024–2029 (USD MILLION)
14 GROW LIGHTS MARKET, BY REGION
14.1 INTRODUCTION
FIGURE 44 MARKET SEGMENTATION, BY REGION
FIGURE 45 ASIA PACIFIC GROW LIGHTS MARKET TO RECORD HIGHEST CAGR BETWEEN 2024 AND 2029
TABLE 85 GROW LIGHTS MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 86 GROW LIGHTS MARKET, BY REGION, 2024–2029 (USD MILLION)
14.2 NORTH AMERICA
FIGURE 46 NORTH AMERICA: GROW LIGHTS MARKET SNAPSHOT
TABLE 87 NORTH AMERICA: GROW LIGHTS MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
TABLE 88 NORTH AMERICA: GROW LIGHTS MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
TABLE 89 NORTH AMERICA: GROW LIGHTS MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 90 NORTH AMERICA: GROW LIGHTS MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
TABLE 91 NORTH AMERICA: GROW LIGHTS MARKET, BY CULTIVATED PLANT, 2020–2023 (USD MILLION)
TABLE 92 NORTH AMERICA: GROW LIGHTS MARKET, BY CULTIVATED PLANT, 2024–2029 (USD MILLION)
TABLE 93 NORTH AMERICA: GROW LIGHTS MARKET, BY INSTALLATION TYPE, 2020–2023 (USD MILLION)
TABLE 94 NORTH AMERICA: GROW LIGHTS MARKET, BY INSTALLATION TYPE, 2024–2029 (USD MILLION)
TABLE 95 NORTH AMERICA: GROW LIGHTS MARKET, BY LIGHTING TYPE, 2020–2023 (USD MILLION)
TABLE 96 NORTH AMERICA: GROW LIGHTS MARKET, BY LIGHTING TYPE, 2024–2029 (USD MILLION)
14.2.1 IMPACT OF RECESSION
14.2.2 US
14.2.2.1 Presence of major manufacturers to drive market
14.2.3 CANADA
14.2.3.1 Scarcity of natural light, unfavorable weather conditions, and relatively stable economy to drive market
14.2.4 MEXICO
14.2.4.1 Growth in protected agricultural activities in greenhouses to boost market
14.3 EUROPE
FIGURE 47 EUROPE: GROW LIGHTS MARKET SNAPSHOT
TABLE 97 EUROPE: GROW LIGHTS MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
TABLE 98 EUROPE: GROW LIGHTS MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
TABLE 99 EUROPE: GROW LIGHTS MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 100 EUROPE: GROW LIGHTS MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
TABLE 101 EUROPE: GROW LIGHTS MARKET, BY CULTIVATED PLANT, 2020–2023 (USD MILLION)
TABLE 102 EUROPE: GROW LIGHTS MARKET, BY CULTIVATED PLANT, 2024–2029 (USD MILLION)
TABLE 103 EUROPE: GROW LIGHTS MARKET, BY INSTALLATION TYPE, 2020–2023 (USD MILLION)
TABLE 104 EUROPE: GROW LIGHTS MARKET, BY INSTALLATION TYPE, 2024–2029 (USD MILLION)
TABLE 105 EUROPE: GROW LIGHTS MARKET, BY LIGHTING TYPE, 2020–2023 (USD MILLION)
TABLE 106 EUROPE: GROW LIGHTS MARKET, BY LIGHTING TYPE, 2024–2029 (USD MILLION)
14.3.1 IMPACT OF RECESSION
14.3.2 UK
14.3.2.1 Adoption of technological advancements in indoor farming to drive market
14.3.3 GERMANY
14.3.3.1 Increasing demand for fresh food products to drive market
14.3.4 NETHERLANDS
14.3.4.1 Strong agricultural sector and highly advanced greenhouse industry to boost market
14.3.5 SCANDINAVIA
14.3.5.1 Need to reduce dependence on imports to drive market
14.3.6 REST OF EUROPE
14.4 ASIA PACIFIC
FIGURE 48 ASIA PACIFIC: GROW LIGHTS MARKET SNAPSHOT
TABLE 107 ASIA PACIFIC: GROW LIGHTS MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
TABLE 108 ASIA PACIFIC: GROW LIGHTS MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
TABLE 109 ASIA PACIFIC: GROW LIGHTS MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 110 ASIA PACIFIC: GROW LIGHTS MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
TABLE 111 ASIA PACIFIC: GROW LIGHTS MARKET, BY CULTIVATED PLANT, 2020–2023 (USD MILLION)
TABLE 112 ASIA PACIFIC: GROW LIGHTS MARKET, BY CULTIVATED PLANT, 2024–2029 (USD MILLION)
TABLE 113 ASIA PACIFIC: GROW LIGHTS MARKET, BY INSTALLATION TYPE, 2020–2023 (USD MILLION)
TABLE 114 ASIA PACIFIC: GROW LIGHTS MARKET, BY INSTALLATION TYPE, 2024–2029 (USD MILLION)
TABLE 115 ASIA PACIFIC: GROW LIGHTS MARKET, BY LIGHTING TYPE, 2020–2023 (USD MILLION)
TABLE 116 ASIA PACIFIC: GROW LIGHTS MARKET, BY LIGHTING TYPE, 2024–2029 (USD MILLION)
14.4.1 IMPACT OF RECESSION
14.4.2 CHINA
14.4.2.1 Development of vertical farming infrastructure to propel market
14.4.3 JAPAN
14.4.3.1 Substantial shortage of arable land to drive market
14.4.4 SOUTHEAST ASIA
14.4.4.1 Challenges in conventional farming to drive market
14.4.5 AUSTRALIA
14.4.5.1 Growing awareness of advantages of artificial lighting to drive market
14.4.6 REST OF ASIA PACIFIC
14.5 ROW
FIGURE 49 MIDDLE EAST TO ACCOUNT FOR LARGEST MARKET SHARE IN 2029
TABLE 117 ROW: GROW LIGHTS MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 118 ROW: GROW LIGHTS MARKET, BY REGION, 2024–2029 (USD MILLION)
TABLE 119 ROW: GROW LIGHTS MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 120 ROW: GROW LIGHTS MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
TABLE 121 ROW: GROW LIGHTS MARKET, BY CULTIVATED PLANT, 2020–2023 (USD MILLION)
TABLE 122 ROW: GROW LIGHTS MARKET, BY CULTIVATED PLANT, 2024–2029 (USD MILLION)
TABLE 123 ROW: GROW LIGHTS MARKET, BY INSTALLATION TYPE, 2020–2023 (USD MILLION)
TABLE 124 ROW: GROW LIGHTS MARKET, BY INSTALLATION TYPE, 2024–2029 (USD MILLION)
TABLE 125 ROW: GROW LIGHTS MARKET, BY LIGHTING TYPE, 2020–2023 (USD MILLION)
TABLE 126 ROW: GROW LIGHTS MARKET, BY LIGHTING TYPE,2024–2029 (USD MILLION)
14.5.1 IMPACT OF RECESSION
14.5.2 MIDDLE EAST
14.5.2.1 Optimizing crop production while minimizing water and land use to drive market
14.5.2.2 GCC Countries
14.5.2.2.1 Focus on reducing carbon emissions and improving energy efficiency to drive market
14.5.2.3 Rest of Middle East
TABLE 127 MIDDLE EAST: GROW LIGHTS MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 128 MIDDLE EAST: GROW LIGHTS MARKET, BY REGION, 2024–2029 (USD MILLION)
14.5.3 SOUTH AMERICA
14.5.3.1 Mitigating effects of extreme weather, deforestation, water pollution, and soil degradation to drive market
14.5.4 AFRICA
14.5.4.1 Enhancing productivity and plant development amid unfavorable weather conditions to drive market
15 COMPETITIVE LANDSCAPE
15.1 OVERVIEW
15.2 KEY PLAYER STRATEGIES/RIGHT TO WIN, 2023–2024
TABLE 129 GROW LIGHTS MARKET: KEY STRATEGIES ADOPTED BY LEADING PLAYERS, JUNE 2023–MAY 2024
15.3 REVENUE ANALYSIS, 2019–2023
FIGURE 50 GROW LIGHTS MARKET: REVENUE ANALYSIS OF KEY COMPANIES, 2019–2023
15.4 MARKET SHARE ANALYSIS, 2023
TABLE 130 GROW LIGHTS MARKET: DEGREE OF COMPETITION
FIGURE 51 GROW LIGHTS MARKET SHARE ANALYSIS, 2023
15.5 COMPANY VALUATION AND FINANCIAL METRICS
15.5.1 COMPANY VALUATION
FIGURE 52 GROW LIGHTS MARKET: COMPANY VALUATION, 2024
15.5.2 FINANCIAL METRICS
FIGURE 53 GROW LIGHTS MARKET: FINANCIAL METRICS, 2023
15.6 BRAND/PRODUCT COMPARISON
15.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023
FIGURE 54 GROW LIGHTS MARKET: COMPANY EVALUATION MATRIX (KEY PLAYERS), 2023
15.7.1 STARS
15.7.2 EMERGING LEADERS
15.7.3 PERVASIVE PLAYERS
15.7.4 PARTICIPANTS
15.7.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023
15.7.5.1 Company footprint
FIGURE 55 GROW LIGHTS MARKET: COMPANY FOOTPRINT
15.7.5.2 Region footprint
TABLE 131 REGION: COMPANY FOOTPRINT (12 COMPANIES)
15.7.5.3 Offering footprint
TABLE 132 OFFERING: COMPANY FOOTPRINT (12 COMPANIES)
15.7.5.4 Wattage footprint
TABLE 133 WATTAGE: COMPANY FOOTPRINT (12 COMPANIES)
15.7.5.5 Spectrum footprint
TABLE 134 SPECTRUM: COMPANY FOOTPRINT (12 COMPANIES)
15.7.5.6 Cultivated plant footprint
TABLE 135 CULTIVATED PLANT: COMPANY FOOTPRINT (12 COMPANIES)
15.7.5.7 Installation type footprint
TABLE 136 INSTALLATION TYPE: COMPANY FOOTPRINT (12 COMPANIES)
15.7.5.8 Lighting type footprint
TABLE 137 LIGHTING TYPE: COMPANY FOOTPRINT (12 COMPANIES)
15.7.5.9 Sales channel footprint
TABLE 138 SALES CHANNEL: COMPANY FOOTPRINT (12 COMPANIES)
15.7.5.10 Application footprint
TABLE 139 APPLICATION: COMPANY FOOTPRINT (12 COMPANIES)
15.8 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023
FIGURE 56 GROW LIGHTS MARKET: COMPANY EVALUATION MATRIX (STARTUPS/SMES), 2023
15.8.1 PROGRESSIVE COMPANIES
15.8.2 RESPONSIVE COMPANIES
15.8.3 DYNAMIC COMPANIES
15.8.4 STARTING BLOCKS
15.8.5 COMPETITIVE BENCHMARKING, STARTUPS/SMES, 2023
15.8.5.1 Detailed list of startups/SMEs
TABLE 140 GROW LIGHTS MARKET: KEY STARTUPS/SMES
15.8.5.2 Competitive benchmarking of key startups/SMEs
TABLE 141 GROW LIGHTS MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES
15.9 COMPETITIVE SCENARIO AND TRENDS
15.9.1 PRODUCT LAUNCHES
TABLE 142 GROW LIGHTS MARKET: PRODUCT LAUNCHES, JANUARY 2020–MAY 2024
15.9.2 DEALS
TABLE 143 GROW LIGHTS MARKET: DEALS, JANUARY 2020–MAY 2024
16 COMPANY PROFILES
(Business Overview, Products/Solutions/Services Offered, Recent Developments, MnM view (Key strengths/Right to win, Strategic choices made, Weakness/competitive threats)*
16.1 INTRODUCTION
16.2 KEY PLAYERS
16.2.1 SIGNIFY HOLDING
TABLE 144 SIGNIFY HOLDING: COMPANY OVERVIEW
FIGURE 57 SIGNIFY HOLDING: COMPANY SNAPSHOT
TABLE 145 SIGNIFY HOLDING: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 146 SIGNIFY HOLDING: PRODUCT LAUNCHES, JANUARY 2020–MAY 2024
TABLE 147 SIGNIFY HOLDING: DEALS, JANUARY 2020–MAY 2024
16.2.2 GAVITA INTERNATIONAL B.V.
TABLE 148 GAVITA INTERNATIONAL B.V.: COMPANY OVERVIEW
TABLE 149 GAVITA INTERNATIONAL B.V.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
16.2.3 HELIOSPECTRA
TABLE 150 HELIOSPECTRA: COMPANY OVERVIEW
FIGURE 58 HELIOSPECTRA: COMPANY SNAPSHOT
TABLE 151 HELIOSPECTRA: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 152 HELIOSPECTRA: PRODUCT LAUNCHES, JANUARY 2020–MAY 2024
TABLE 153 HELIOSPECTRA: DEALS, JANUARY 2020–MAY 2024
16.2.4 AMS-OSRAM AG
TABLE 154 AMS-OSRAM AG: COMPANY OVERVIEW
FIGURE 59 AMS-OSRAM AG: COMPANY SNAPSHOT
TABLE 155 AMS-OSRAM AG: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 156 AMS-OSRAM AG: PRODUCT LAUNCHES, JANUARY 2020–MAY 2024
TABLE 157 AMS-OSRAM AG: DEALS, JANUARY 2020–MAY 2024
16.2.5 CALIFORNIA LIGHTWORKS
TABLE 158 CALIFORNIA LIGHTWORKS: COMPANY OVERVIEW
TABLE 159 CALIFORNIA LIGHTWORKS: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 160 CALIFORNIA LIGHTWORKS: PRODUCT LAUNCHES, JANUARY 2020–MAY 2024
TABLE 161 CALIFORNIA LIGHTWORKS: DEALS, JANUARY 2020–MAY 2024
16.2.6 LEDVANCE GMBH
TABLE 162 LEDVANCE GMBH: COMPANY OVERVIEW
TABLE 163 LEDVANCE GMBH: PRODUCTS/SOLUTIONS/SERVICES OFFERED
16.2.7 HORTILUX SCHRЙDER
TABLE 164 HORTILUX SCHRЙDER: COMPANY OVERVIEW
TABLE 165 HORTILUX SCHRЙDER: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 166 HORTILUX SCHRЙDER: PRODUCT LAUNCHES, JANUARY 2020–MAY 2024
TABLE 167 HORTILUX SCHRЙDER: DEALS, JANUARY 2020–MAY 2024
16.2.8 VALOYA
TABLE 168 VALOYA: COMPANY OVERVIEW
TABLE 169 VALOYA: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 170 VALOYA: PRODUCT LAUNCHES, JANUARY 2020–MAY 2024
TABLE 171 VALOYA: DEALS, JANUARY 2020–MAY 2024
16.2.9 ILUMINAR LIGHTING LLC.
TABLE 172 ILUMINAR LIGHTING LLC.: COMPANY OVERVIEW
TABLE 173 ILUMINAR LIGHTING LLC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
16.2.10 SAVANT TECHNOLOGIES LLC
TABLE 174 SAVANT TECHNOLOGIES LLC: COMPANY OVERVIEW
TABLE 175 SAVANT TECHNOLOGIES LLC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 176 SAVANT TECHNOLOGIES LLC.: DEALS, JANUARY 2020–MAY 2024
16.3 OTHER PLAYERS
16.3.1 ECONOLUX INDUSTRIES LTD.
16.3.2 LEMNIS OREON B.V.
16.3.3 HYPERION GROW LIGHTS
16.3.4 SANANBIO
16.3.5 DONGGUAN LEDESTAR OPTO-ELECTRONICS TECH. CO., LTD.
16.3.6 VIPARSPECTRA
16.3.7 KIND LED GROW LIGHTS
16.3.8 BLACK DOG HORTICULTURE TECHNOLOGIES & CONSULTING
16.3.9 AGROLUX B.V.
16.3.10 SOLLUM TECHNOLOGIES
16.3.11 MARS HYDRO
16.3.12 BIOLOGICAL INNOVATION AND OPTIMIZATION SYSTEMS, LLC
16.3.13 EVERLIGHT ELECTRONICS CO., LTD.
16.3.14 NICHIA CORPORATION
16.3.15 THRIVE AGRITECH
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, MnM view (Key strengths/Right to win, Strategic choices made, Weakness/competitive threats)* might not be captured in case of unlisted companies.
17 APPENDIX
17.1 INSIGHTS OF INDUSTRY EXPERTS
17.2 DISCUSSION GUIDE
17.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
17.4 CUSTOMIZATION OPTIONS
17.5 RELATED REPORTS
17.6 AUTHOR DETAILS
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 STUDY SCOPE
1.3.1 MARKETS COVERED
FIGURE 1 GROW LIGHTS MARKET SEGMENTATION
1.3.2 REGIONS COVERED
FIGURE 2 GROW LIGHTS MARKET: REGIONS COVERED
1.3.3 INCLUSIONS & EXCLUSIONS
1.3.4 YEARS CONSIDERED
1.3.5 CURRENCY CONSIDERED
1.4 LIMITATIONS
1.5 STAKEHOLDERS
1.6 SUMMARY OF CHANGES
1.7 IMPACT OF RECESSION
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
2.2 GROWTH FORECAST ASSUMPTIONS
TABLE 1 MARKET GROWTH ASSUMPTIONS
FIGURE 3 GROW LIGHTS MARKET: RESEARCH DESIGN
2.2.1 SECONDARY DATA
2.2.1.1 Key data from secondary sources
2.2.1.2 Key secondary sources
2.2.2 PRIMARY DATA
2.2.2.1 Key data from primary sources
2.2.2.2 Interviews with experts
2.2.2.3 Breakdown of interviews with experts
2.2.2.4 Insights of industry experts
2.2.3 SECONDARY AND PRIMARY RESEARCH
2.3 MARKET SIZE ESTIMATION
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 1 (SUPPLY SIDE) – REVENUE GENERATED BY KEY PLAYERS
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 2 (SUPPLY SIDE) – REVENUE ESTIMATION OF KEY PLAYERS
FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 3 (DEMAND SIDE) —BOTTOM-UP ESTIMATION BASED ON REGION
2.3.1 BOTTOM-UP APPROACH
2.3.1.1 Approach to derive market size using bottom-up analysis
FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
2.3.2 TOP-DOWN APPROACH
2.3.2.1 Approach to derive market size using top-down analysis
FIGURE 8 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
2.4 MARKET SHARE ESTIMATION
2.5 DATA TRIANGULATION
FIGURE 9 DATA TRIANGULATION
2.6 RISK ASSESSMENT
TABLE 2 RISK FACTOR ANALYSIS
2.7 RECESSION-RELATED ASSUMPTIONS
2.8 RESEARCH ASSUMPTIONS AND LIMITATIONS
2.8.1 RESEARCH ASSUMPTIONS
2.8.2 RESEARCH LIMITATIONS
3 EXECUTIVE SUMMARY
FIGURE 10 VERTICAL FARMING SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
FIGURE 11 >=300 WATTS TO RECORD HIGHER CAGR DURING FORECAST PERIOD
FIGURE 12 EUROPE HELD LARGEST SHARE OF GROW LIGHTS MARKET IN 2023
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN GROW LIGHTS MARKET
FIGURE 13 RISING DEMAND FOR GROW LIGHTS IN INDOOR SETTINGS TO FUEL MARKET GROWTH
4.2 GROW LIGHTS MARKET, BY INSTALLATION TYPE
FIGURE 14 NEW INSTALLATIONS SEGMENT TO HOLD LARGER MARKET SHARE BETWEEN 2024 AND 2029
4.3 GROW LIGHTS MARKET, BY CULTIVATED PLANT
FIGURE 15 FRUITS & VEGETABLES SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
4.4 GROW LIGHTS MARKET, BY REGION
FIGURE 16 SOUTHEAST ASIA GROW LIGHTS MARKET TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 GROW LIGHTS MARKET DYNAMICS
FIGURE 17 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES IN GROW LIGHTS MARKET
5.2.1 DRIVERS
5.2.1.1 Surging demand for fresh food amid declining arable land
FIGURE 18 ARABLE LAND (% OF LAND AREA), 2000–2020
5.2.1.2 Robust government support for implementation of solid-state lighting technology and controlled-environment agriculture methodologies
5.2.1.3 Rising investments in establishment of vertical farms, greenhouses, and advanced technologies
5.2.1.4 Maximizing horticulture efficiency and unlocking year-round crop production
FIGURE 19 GROW LIGHTS MARKET DRIVERS: IMPACT ANALYSIS
5.2.2 RESTRAINTS
5.2.2.1 High investments in establishment and installation
5.2.2.2 Optimizing plant growth through varied light spectrums
5.2.2.3 Risk to human health due to LED grow lights
5.2.2.4 Constraints in optimal grow light placement for plant growth
FIGURE 20 GROW LIGHTS MARKET RESTRAINTS: IMPACT ANALYSIS
5.2.3 OPPORTUNITIES
5.2.3.1 Legalization of cannabis for medicinal purposes
5.2.3.2 Technological advancements in LED grow lights and automation in lighting systems
5.2.3.3 Prospective markets for vertical farming in Asia and Middle East
5.2.3.4 Integrated hardware, software, and data analytics platforms for horticultural yield estimation and energy conservation
FIGURE 21 GROW LIGHTS MARKET OPPORTUNITIES: IMPACT ANALYSIS
5.2.4 CHALLENGES
5.2.4.1 Complexities in implementing controlled environment agriculture technology and lack of technical expertise
5.2.4.2 Lack of standardized testing protocols for evaluating horticulture lighting product quality
FIGURE 22 GROW LIGHTS MARKET CHALLENGES: IMPACT ANALYSIS
5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
FIGURE 23 TRENDS AND DISRUPTIONS IMPACTING CUSTOMER BUSINESS
5.4 PRICING ANALYSIS
5.4.1 AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY WATTAGE
FIGURE 24 AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY WATTAGE, 2024
TABLE 3 AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY WATTAGE, 2020–2024 (USD)
5.4.2 INDICATIVE PRICING OF LED GROW LIGHTS, BY REGION
TABLE 4 INDICATIVE PRICING OF LED GROW LIGHTS, BY REGION, 2020–2024 (USD)
5.5 SUPPLY CHAIN ANALYSIS
FIGURE 25 SUPPLY CHAIN ANALYSIS: GROW LIGHTS MARKET
5.5.1 RESEARCH & DEVELOPMENT ENGINEERS
5.5.2 COMPONENT PROVIDERS/INPUT SUPPLIERS
5.5.3 ORIGINAL EQUIPMENT MANUFACTURERS
5.5.4 SYSTEM INTEGRATORS/TECHNOLOGY & SERVICE PROVIDERS
5.5.5 DISTRIBUTORS & SALES PARTNERS
5.5.6 APPLICATIONS
5.6 ECOSYSTEM ANALYSIS
TABLE 5 GROW LIGHTS MARKET: ECOSYSTEM ANALYSIS
FIGURE 26 KEY PLAYERS IN GROW LIGHTS MARKET
5.7 INVESTMENT AND FUNDING SCENARIO
FIGURE 27 INVESTMENT AND FUNDING SCENARIO FOR STARTUPS
5.8 TECHNOLOGY ANALYSIS
5.8.1 KEY TECHNOLOGIES
5.8.1.1 LED grow lights
5.8.1.2 UV and far-red light integration
5.8.1.3 Smart lighting
5.8.2 COMPLEMENTARY TECHNOLOGIES
5.8.2.1 Climate control systems
5.8.2.2 Hydroponic and aeroponic systems
5.8.3 ADJACENT TECHNOLOGY
5.8.3.1 Spectrum control technology
5.9 PATENT ANALYSIS
FIGURE 28 PATENTS APPLIED AND GRANTED, 2014–2023
TABLE 6 GROW LIGHTS MARKET: MAJOR PATENTS, 2023–2024
5.10 TRADE ANALYSIS
5.10.1 IMPORT SCENARIO (HS CODE 9405)
FIGURE 29 IMPORT DATA FOR HS CODE 9405, BY KEY COUNTRY, 2018–2022 (USD MILLION)
TABLE 7 IMPORT SCENARIO FOR HS CODE 9405-COMPLIANT PRODUCTS, BY COUNTRY, 2018–2022 (USD MILLION)
5.10.2 EXPORT SCENARIO (HS CODE 9405)
FIGURE 30 EXPORT DATA FOR HS CODE 9405, BY KEY COUNTRY, 2018–2022 (USD MILLION)
TABLE 8 EXPORT SCENARIO FOR HS CODE 9405-COMPLIANT PRODUCTS, BY COUNTRY, 2018–2022 (USD MILLION)
5.11 KEY CONFERENCES AND EVENTS, 2024–2025
TABLE 9 KEY CONFERENCES AND EVENTS, 2024–2025
5.12 CASE STUDY ANALYSIS
5.12.1 SIGNIFY HOLDING HELPS TOPLINE GERBERA NURSERY TRANSITION TO FULL LED LIGHTING
TABLE 10 PHILIPS GREENPOWER LED TOP LIGHTING INCREASES EFFICIENCY AND QUALITY FOR GROWER RINO MANS
5.12.2 MAXIMIZING BERRY PRODUCTION AT NOURSE FARMS WITH CALIFORNIA LIGHTWORKS MEGADRIVE LIGHTING SYSTEM
TABLE 11 INNOVATING BERRY CULTIVATION WITH STATE-OF-ART LIGHTING SOLUTIONS
5.12.3 NIPOMO AG HARNESSES CALIFORNIA LIGHTWORKS MEGADRIVE LED SYSTEM TO THRIVE IN COMPETITIVE CANNABIS MARKET
TABLE 12 PATENTED TECHNOLOGY DRIVES HIGHER YIELDS AND LOWER COSTS FOR SAN LUIS OBISPO GREENHOUSE
5.13 TARIFF AND REGULATORY LANDSCAPE
5.13.1 TARIFF ANALYSIS
TABLE 13 MFN TARIFF FOR HS CODE 9405-RELATED PRODUCTS EXPORTED BY CHINA (2023)
5.13.2 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 14 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 15 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 16 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 17 ROW: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.14 PORTER’S FIVE FORCES ANALYSIS
FIGURE 31 GROW LIGHTS MARKET: PORTER’S FIVE FORCES ANALYSIS
TABLE 18 IMPACT ANALYSIS OF PORTER’S FIVE FORCES
5.14.1 INTENSITY OF COMPETITIVE RIVALRY
5.14.2 THREAT OF NEW ENTRANTS
5.14.3 THREAT OF SUBSTITUTES
5.14.4 BARGAINING POWER OF BUYERS
5.14.5 BARGAINING POWER OF SUPPLIERS
5.15 KEY STAKEHOLDERS AND BUYING CRITERIA
5.15.1 KEY STAKEHOLDERS IN BUYING PROCESS
FIGURE 32 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY APPLICATION
TABLE 19 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR APPLICATIONS (%)
5.15.2 BUYING CRITERIA
FIGURE 33 KEY BUYING CRITERIA, BY APPLICATION
TABLE 20 KEY BUYING CRITERIA, BY APPLICATION
6 GROW LIGHTS MARKET, BY OFFERING
6.1 INTRODUCTION
FIGURE 34 HARDWARE SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD
TABLE 21 GROW LIGHTS MARKET, BY OFFERING, 2020–2023 (USD MILLION)
TABLE 22 GROW LIGHTS MARKET, BY OFFERING, 2024–2029 (USD MILLION)
6.2 HARDWARE
6.2.1 INCREASING DEMAND FOR HARDWARE COMPONENTS TO DRIVE MARKET
TABLE 23 HARDWARE: GROW LIGHTS MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 24 HARDWARE: GROW LIGHTS MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
6.3 SOFTWARE & SERVICES
6.3.1 BALANCE BETWEEN LIGHTING AND ENERGY COSTS TO DRIVE MARKET
TABLE 25 SOFTWARE & SERVICES: GROW LIGHTS MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 26 SOFTWARE & SERVICES: GROW LIGHTS MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
7 GROW LIGHTS MARKET, BY WATTAGE
7.1 INTRODUCTION
FIGURE 35 GROW LIGHTS MARKET, BY WATTAGE
FIGURE 36 >=300 WATTS GROW LIGHTS SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD
TABLE 27 GROW LIGHTS MARKET, BY WATTAGE, 2020–2023 (USD MILLION)
TABLE 28 GROW LIGHTS MARKET, BY WATTAGE, 2024–2029 (USD MILLION)
TABLE 29 GROW LIGHTS MARKET, BY WATTAGE, 2020–2023 (THOUSAND UNITS)
TABLE 30 GROW LIGHTS MARKET, BY WATTAGE, 2024–2029 (THOUSAND UNITS)
7.2 <300 WATTS
7.2.1 APPLICATIONS IN HYDROPONIC GREENHOUSES AND CANNABIS CULTIVATION TO DRIVE MARKET
TABLE 31 <300 WATTS: GROW LIGHTS MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 32 <300 WATTS: GROW LIGHTS MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
7.3 >=300 WATTS
7.3.1 CONSISTENT PHOTOSYNTHESIS STIMULATION PROMOTING RAPID PLANT GROWTH TO DRIVE MARKET
TABLE 33 >=300 WATTS: GROW LIGHTS MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 34 >=300 WATTS: GROW LIGHTS MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
8 GROW LIGHTS MARKET, BY SPECTRUM
8.1 INTRODUCTION
FIGURE 37 LIMITED SPECTRUM GROW LIGHTS SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD
TABLE 35 GROW LIGHTS MARKET, BY SPECTRUM, 2020–2023 (USD MILLION)
TABLE 36 GROW LIGHTS MARKET, BY SPECTRUM, 2024–2029 (USD MILLION)
8.2 FULL SPECTRUM
8.2.1 MIMICKING SUNLIGHT, ENHANCING PLANT GROWTH, ROOT DEVELOPMENT, AND HEALTH DRIVING MARKET
8.3 LIMITED SPECTRUM
8.3.1 RED AND BLUE SPECTRUMS OPTIMIZING PLANT GROWTH TO DRIVE MARKET
9 GROW LIGHTS MARKET, BY CULTIVATED PLANT
9.1 INTRODUCTION
FIGURE 38 FRUITS & VEGETABLES SEGMENT TO DOMINATE GROW LIGHTS MARKET DURING FORECAST PERIOD
TABLE 37 GROW LIGHTS MARKET, BY CULTIVATED PLANT, 2020–2023 (USD MILLION)
TABLE 38 GROW LIGHTS MARKET, BY CULTIVATED PLANT, 2024–2029 (USD MILLION)
9.2 FRUITS & VEGETABLES
9.2.1 RISING DEMAND FOR HIGH-QUALITY ORGANIC FRUITS & VEGETABLES TO DRIVE MARKET
TABLE 39 FRUITS & VEGETABLES: GROW LIGHTS MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 40 FRUITS & VEGETABLES: GROW LIGHTS MARKET, BY REGION, 2024–2029 (USD MILLION)
9.3 FLOWERS
9.3.1 ADVANTAGES OVER TRADITIONAL FARMING METHODS TO DRIVE MARKET
TABLE 41 FLOWERS: GROW LIGHTS MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 42 FLOWERS: GROW LIGHTS MARKET, BY REGION, 2024–2029 (USD MILLION)
9.4 CANNABIS
9.4.1 LEGALIZATION, HIGHER RETURNS ON INVESTMENT, AND AUGMENTED FUNDING TO PROPEL MARKET
TABLE 43 CANNABIS: GROW LIGHTS MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 44 CANNABIS: GROW LIGHTS MARKET, BY REGION, 2024–2029 (USD MILLION)
10 GROW LIGHTS MARKET, BY INSTALLATION TYPE
10.1 INTRODUCTION
FIGURE 39 RETROFIT INSTALLATIONS SEGMENT TO REGISTER HIGH GROWTH RATE DURING FORECAST PERIOD
TABLE 45 GROW LIGHTS MARKET, BY INSTALLATION TYPE, 2020–2023 (USD MILLION)
TABLE 46 GROW LIGHTS MARKET, BY INSTALLATION TYPE, 2024–2029 (USD MILLION)
10.2 NEW INSTALLATIONS
10.2.1 RISING DEMAND FOR VERTICAL AND INDOOR FARMING TO DRIVE MARKET
TABLE 47 NEW INSTALLATIONS: GROW LIGHTS MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 48 NEW INSTALLATIONS: GROW LIGHTS MARKET, BY REGION, 2024–2029 (USD MILLION)
10.3 RETROFIT INSTALLATIONS
10.3.1 ENERGY CONSERVATION AND REDUCED OPERATIONAL COSTS TO DRIVE MARKET
TABLE 49 RETROFIT INSTALLATIONS: GROW LIGHTS MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 50 RETROFIT INSTALLATIONS: GROW LIGHTS MARKET, BY REGION, 2024–2029 (USD MILLION)
11 GROW LIGHTS MARKET, BY LIGHTING TYPE
11.1 INTRODUCTION
FIGURE 40 TOP LIGHTING SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD
TABLE 51 GROW LIGHTS MARKET, BY LIGHTING TYPE, 2020–2023 (USD MILLION)
TABLE 52 GROW LIGHTS MARKET, BY LIGHTING TYPE, 2024–2029 (USD MILLION)
11.2 TOP LIGHTING
11.2.1 LIGHTING IN INDOOR CULTIVATION MIMICKING SUNLIGHT TO DRIVE MARKET
TABLE 53 TOP LIGHTING: GROW LIGHTS MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 54 TOP LIGHTING: GROW LIGHTS MARKET, BY REGION, 2024–2029 (USD MILLION)
11.3 INTERLIGHTING
11.3.1 BIDIRECTIONAL LIGHTS ENABLING HIGHER YIELDS TO DRIVE MARKET
TABLE 55 INTERLIGHTING: GROW LIGHTS MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 56 INTERLIGHTING: GROW LIGHTS MARKET, BY REGION, 2024–2029 (USD MILLION)
12 GROW LIGHTS MARKET, BY SALES CHANNEL
12.1 INTRODUCTION
FIGURE 41 DISTRIBUTION CHANNELS SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD
TABLE 57 GROW LIGHTS MARKET, BY SALES CHANNEL, 2020–2023 (USD MILLION)
TABLE 58 GROW LIGHTS MARKET, BY SALES CHANNEL, 2024–2029 (USD MILLION)
12.2 DISTRIBUTION CHANNELS
12.2.1 SUPERIOR AFTER-SALES SUPPORT TO DRIVE MARKET
12.3 E-COMMERCE CHANNELS
12.3.1 RISING PREFERENCE BY SMALL GROWERS/HOME-BASED GROWERS TO BOOST MARKET
12.4 DIRECT SALES CHANNELS
12.4.1 INCREASING APPREHENSIONS REGARDING COUNTERFEIT PRODUCTS TO DRIVE MARKET
13 GROW LIGHTS MARKET, BY APPLICATION
13.1 INTRODUCTION
FIGURE 42 GROW LIGHTS MARKET, BY APPLICATION
FIGURE 43 VERTICAL FARMING SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
TABLE 59 GROW LIGHTS MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 60 GROW LIGHTS MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
13.2 GREENHOUSES
13.2.1 PROTECTED ENVIRONMENTS ENSURING OPTIMAL YIELDS TO DRIVE MARKET
TABLE 61 GREENHOUSES: GROW LIGHTS MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 62 GREENHOUSES: GROW LIGHTS MARKET, BY REGION, 2024–2029 (USD MILLION)
TABLE 63 GREENHOUSES: GROW LIGHTS MARKET, BY WATTAGE, 2020–2023 (USD MILLION)
TABLE 64 GREENHOUSES: GROW LIGHTS MARKET, BY WATTAGE, 2024–2029 (USD MILLION)
TABLE 65 GREENHOUSES: GROW LIGHTS MARKET, BY OFFERING, 2020–2023 (USD MILLION)
TABLE 66 GREENHOUSES: GROW LIGHTS MARKET, BY OFFERING, 2024–2029 (USD MILLION)
13.3 VERTICAL FARMING
13.3.1 MAXIMIZING SPACE AND ENERGY EFFICIENCY TO DRIVE MARKET
TABLE 67 VERTICAL FARMING: GROW LIGHTS MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 68 VERTICAL FARMING: GROW LIGHTS MARKET, BY REGION, 2024–2029 (USD MILLION)
TABLE 69 VERTICAL FARMING: GROW LIGHTS MARKET, BY WATTAGE, 2020–2023 (USD MILLION)
TABLE 70 VERTICAL FARMING: GROW LIGHTS MARKET, BY WATTAGE, 2024–2029 (USD MILLION)
TABLE 71 VERTICAL FARMING: GROW LIGHTS MARKET, BY OFFERING, 2020–2023 (USD MILLION)
TABLE 72 VERTICAL FARMING: GROW LIGHTS MARKET, BY OFFERING, 2024–2029 (USD MILLION)
13.4 INDOOR FARMING
13.4.1 AUGMENTING LIGHT, NUTRITION FOR HOUSEPLANTS, HASTENING GROWTH AND FLOWERING TO DRIVE MARKET
TABLE 73 INDOOR FARMING: GROW LIGHTS MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 74 INDOOR FARMING: GROW LIGHTS MARKET, BY REGION, 2024–2029 (USD MILLION)
TABLE 75 INDOOR FARMING: GROW LIGHTS MARKET, BY WATTAGE, 2020–2023 (USD MILLION)
TABLE 76 INDOOR FARMING: GROW LIGHTS MARKET, BY WATTAGE, 2024–2029 (USD MILLION)
TABLE 77 INDOOR FARMING: GROW LIGHTS MARKET, BY OFFERING, 2020–2023 (USD MILLION)
TABLE 78 INDOOR FARMING: GROW LIGHTS MARKET, BY OFFERING, 2024–2029 (USD MILLION)
13.5 OTHER APPLICATIONS
TABLE 79 OTHER APPLICATIONS: GROW LIGHTS MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 80 OTHER APPLICATIONS: GROW LIGHTS MARKET, BY REGION, 2024–2029 (USD MILLION)
TABLE 81 OTHER APPLICATIONS: GROW LIGHTS MARKET, BY WATTAGE, 2020–2023 (USD MILLION)
TABLE 82 OTHER APPLICATIONS: GROW LIGHTS MARKET, BY WATTAGE, 2024–2029 (USD MILLION)
TABLE 83 OTHER APPLICATIONS: GROW LIGHTS MARKET, BY OFFERING, 2020–2023 (USD MILLION)
TABLE 84 OTHER APPLICATIONS: GROW LIGHTS MARKET, BY OFFERING, 2024–2029 (USD MILLION)
14 GROW LIGHTS MARKET, BY REGION
14.1 INTRODUCTION
FIGURE 44 MARKET SEGMENTATION, BY REGION
FIGURE 45 ASIA PACIFIC GROW LIGHTS MARKET TO RECORD HIGHEST CAGR BETWEEN 2024 AND 2029
TABLE 85 GROW LIGHTS MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 86 GROW LIGHTS MARKET, BY REGION, 2024–2029 (USD MILLION)
14.2 NORTH AMERICA
FIGURE 46 NORTH AMERICA: GROW LIGHTS MARKET SNAPSHOT
TABLE 87 NORTH AMERICA: GROW LIGHTS MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
TABLE 88 NORTH AMERICA: GROW LIGHTS MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
TABLE 89 NORTH AMERICA: GROW LIGHTS MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 90 NORTH AMERICA: GROW LIGHTS MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
TABLE 91 NORTH AMERICA: GROW LIGHTS MARKET, BY CULTIVATED PLANT, 2020–2023 (USD MILLION)
TABLE 92 NORTH AMERICA: GROW LIGHTS MARKET, BY CULTIVATED PLANT, 2024–2029 (USD MILLION)
TABLE 93 NORTH AMERICA: GROW LIGHTS MARKET, BY INSTALLATION TYPE, 2020–2023 (USD MILLION)
TABLE 94 NORTH AMERICA: GROW LIGHTS MARKET, BY INSTALLATION TYPE, 2024–2029 (USD MILLION)
TABLE 95 NORTH AMERICA: GROW LIGHTS MARKET, BY LIGHTING TYPE, 2020–2023 (USD MILLION)
TABLE 96 NORTH AMERICA: GROW LIGHTS MARKET, BY LIGHTING TYPE, 2024–2029 (USD MILLION)
14.2.1 IMPACT OF RECESSION
14.2.2 US
14.2.2.1 Presence of major manufacturers to drive market
14.2.3 CANADA
14.2.3.1 Scarcity of natural light, unfavorable weather conditions, and relatively stable economy to drive market
14.2.4 MEXICO
14.2.4.1 Growth in protected agricultural activities in greenhouses to boost market
14.3 EUROPE
FIGURE 47 EUROPE: GROW LIGHTS MARKET SNAPSHOT
TABLE 97 EUROPE: GROW LIGHTS MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
TABLE 98 EUROPE: GROW LIGHTS MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
TABLE 99 EUROPE: GROW LIGHTS MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 100 EUROPE: GROW LIGHTS MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
TABLE 101 EUROPE: GROW LIGHTS MARKET, BY CULTIVATED PLANT, 2020–2023 (USD MILLION)
TABLE 102 EUROPE: GROW LIGHTS MARKET, BY CULTIVATED PLANT, 2024–2029 (USD MILLION)
TABLE 103 EUROPE: GROW LIGHTS MARKET, BY INSTALLATION TYPE, 2020–2023 (USD MILLION)
TABLE 104 EUROPE: GROW LIGHTS MARKET, BY INSTALLATION TYPE, 2024–2029 (USD MILLION)
TABLE 105 EUROPE: GROW LIGHTS MARKET, BY LIGHTING TYPE, 2020–2023 (USD MILLION)
TABLE 106 EUROPE: GROW LIGHTS MARKET, BY LIGHTING TYPE, 2024–2029 (USD MILLION)
14.3.1 IMPACT OF RECESSION
14.3.2 UK
14.3.2.1 Adoption of technological advancements in indoor farming to drive market
14.3.3 GERMANY
14.3.3.1 Increasing demand for fresh food products to drive market
14.3.4 NETHERLANDS
14.3.4.1 Strong agricultural sector and highly advanced greenhouse industry to boost market
14.3.5 SCANDINAVIA
14.3.5.1 Need to reduce dependence on imports to drive market
14.3.6 REST OF EUROPE
14.4 ASIA PACIFIC
FIGURE 48 ASIA PACIFIC: GROW LIGHTS MARKET SNAPSHOT
TABLE 107 ASIA PACIFIC: GROW LIGHTS MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
TABLE 108 ASIA PACIFIC: GROW LIGHTS MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
TABLE 109 ASIA PACIFIC: GROW LIGHTS MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 110 ASIA PACIFIC: GROW LIGHTS MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
TABLE 111 ASIA PACIFIC: GROW LIGHTS MARKET, BY CULTIVATED PLANT, 2020–2023 (USD MILLION)
TABLE 112 ASIA PACIFIC: GROW LIGHTS MARKET, BY CULTIVATED PLANT, 2024–2029 (USD MILLION)
TABLE 113 ASIA PACIFIC: GROW LIGHTS MARKET, BY INSTALLATION TYPE, 2020–2023 (USD MILLION)
TABLE 114 ASIA PACIFIC: GROW LIGHTS MARKET, BY INSTALLATION TYPE, 2024–2029 (USD MILLION)
TABLE 115 ASIA PACIFIC: GROW LIGHTS MARKET, BY LIGHTING TYPE, 2020–2023 (USD MILLION)
TABLE 116 ASIA PACIFIC: GROW LIGHTS MARKET, BY LIGHTING TYPE, 2024–2029 (USD MILLION)
14.4.1 IMPACT OF RECESSION
14.4.2 CHINA
14.4.2.1 Development of vertical farming infrastructure to propel market
14.4.3 JAPAN
14.4.3.1 Substantial shortage of arable land to drive market
14.4.4 SOUTHEAST ASIA
14.4.4.1 Challenges in conventional farming to drive market
14.4.5 AUSTRALIA
14.4.5.1 Growing awareness of advantages of artificial lighting to drive market
14.4.6 REST OF ASIA PACIFIC
14.5 ROW
FIGURE 49 MIDDLE EAST TO ACCOUNT FOR LARGEST MARKET SHARE IN 2029
TABLE 117 ROW: GROW LIGHTS MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 118 ROW: GROW LIGHTS MARKET, BY REGION, 2024–2029 (USD MILLION)
TABLE 119 ROW: GROW LIGHTS MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 120 ROW: GROW LIGHTS MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
TABLE 121 ROW: GROW LIGHTS MARKET, BY CULTIVATED PLANT, 2020–2023 (USD MILLION)
TABLE 122 ROW: GROW LIGHTS MARKET, BY CULTIVATED PLANT, 2024–2029 (USD MILLION)
TABLE 123 ROW: GROW LIGHTS MARKET, BY INSTALLATION TYPE, 2020–2023 (USD MILLION)
TABLE 124 ROW: GROW LIGHTS MARKET, BY INSTALLATION TYPE, 2024–2029 (USD MILLION)
TABLE 125 ROW: GROW LIGHTS MARKET, BY LIGHTING TYPE, 2020–2023 (USD MILLION)
TABLE 126 ROW: GROW LIGHTS MARKET, BY LIGHTING TYPE,2024–2029 (USD MILLION)
14.5.1 IMPACT OF RECESSION
14.5.2 MIDDLE EAST
14.5.2.1 Optimizing crop production while minimizing water and land use to drive market
14.5.2.2 GCC Countries
14.5.2.2.1 Focus on reducing carbon emissions and improving energy efficiency to drive market
14.5.2.3 Rest of Middle East
TABLE 127 MIDDLE EAST: GROW LIGHTS MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 128 MIDDLE EAST: GROW LIGHTS MARKET, BY REGION, 2024–2029 (USD MILLION)
14.5.3 SOUTH AMERICA
14.5.3.1 Mitigating effects of extreme weather, deforestation, water pollution, and soil degradation to drive market
14.5.4 AFRICA
14.5.4.1 Enhancing productivity and plant development amid unfavorable weather conditions to drive market
15 COMPETITIVE LANDSCAPE
15.1 OVERVIEW
15.2 KEY PLAYER STRATEGIES/RIGHT TO WIN, 2023–2024
TABLE 129 GROW LIGHTS MARKET: KEY STRATEGIES ADOPTED BY LEADING PLAYERS, JUNE 2023–MAY 2024
15.3 REVENUE ANALYSIS, 2019–2023
FIGURE 50 GROW LIGHTS MARKET: REVENUE ANALYSIS OF KEY COMPANIES, 2019–2023
15.4 MARKET SHARE ANALYSIS, 2023
TABLE 130 GROW LIGHTS MARKET: DEGREE OF COMPETITION
FIGURE 51 GROW LIGHTS MARKET SHARE ANALYSIS, 2023
15.5 COMPANY VALUATION AND FINANCIAL METRICS
15.5.1 COMPANY VALUATION
FIGURE 52 GROW LIGHTS MARKET: COMPANY VALUATION, 2024
15.5.2 FINANCIAL METRICS
FIGURE 53 GROW LIGHTS MARKET: FINANCIAL METRICS, 2023
15.6 BRAND/PRODUCT COMPARISON
15.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023
FIGURE 54 GROW LIGHTS MARKET: COMPANY EVALUATION MATRIX (KEY PLAYERS), 2023
15.7.1 STARS
15.7.2 EMERGING LEADERS
15.7.3 PERVASIVE PLAYERS
15.7.4 PARTICIPANTS
15.7.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023
15.7.5.1 Company footprint
FIGURE 55 GROW LIGHTS MARKET: COMPANY FOOTPRINT
15.7.5.2 Region footprint
TABLE 131 REGION: COMPANY FOOTPRINT (12 COMPANIES)
15.7.5.3 Offering footprint
TABLE 132 OFFERING: COMPANY FOOTPRINT (12 COMPANIES)
15.7.5.4 Wattage footprint
TABLE 133 WATTAGE: COMPANY FOOTPRINT (12 COMPANIES)
15.7.5.5 Spectrum footprint
TABLE 134 SPECTRUM: COMPANY FOOTPRINT (12 COMPANIES)
15.7.5.6 Cultivated plant footprint
TABLE 135 CULTIVATED PLANT: COMPANY FOOTPRINT (12 COMPANIES)
15.7.5.7 Installation type footprint
TABLE 136 INSTALLATION TYPE: COMPANY FOOTPRINT (12 COMPANIES)
15.7.5.8 Lighting type footprint
TABLE 137 LIGHTING TYPE: COMPANY FOOTPRINT (12 COMPANIES)
15.7.5.9 Sales channel footprint
TABLE 138 SALES CHANNEL: COMPANY FOOTPRINT (12 COMPANIES)
15.7.5.10 Application footprint
TABLE 139 APPLICATION: COMPANY FOOTPRINT (12 COMPANIES)
15.8 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023
FIGURE 56 GROW LIGHTS MARKET: COMPANY EVALUATION MATRIX (STARTUPS/SMES), 2023
15.8.1 PROGRESSIVE COMPANIES
15.8.2 RESPONSIVE COMPANIES
15.8.3 DYNAMIC COMPANIES
15.8.4 STARTING BLOCKS
15.8.5 COMPETITIVE BENCHMARKING, STARTUPS/SMES, 2023
15.8.5.1 Detailed list of startups/SMEs
TABLE 140 GROW LIGHTS MARKET: KEY STARTUPS/SMES
15.8.5.2 Competitive benchmarking of key startups/SMEs
TABLE 141 GROW LIGHTS MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES
15.9 COMPETITIVE SCENARIO AND TRENDS
15.9.1 PRODUCT LAUNCHES
TABLE 142 GROW LIGHTS MARKET: PRODUCT LAUNCHES, JANUARY 2020–MAY 2024
15.9.2 DEALS
TABLE 143 GROW LIGHTS MARKET: DEALS, JANUARY 2020–MAY 2024
16 COMPANY PROFILES
(Business Overview, Products/Solutions/Services Offered, Recent Developments, MnM view (Key strengths/Right to win, Strategic choices made, Weakness/competitive threats)*
16.1 INTRODUCTION
16.2 KEY PLAYERS
16.2.1 SIGNIFY HOLDING
TABLE 144 SIGNIFY HOLDING: COMPANY OVERVIEW
FIGURE 57 SIGNIFY HOLDING: COMPANY SNAPSHOT
TABLE 145 SIGNIFY HOLDING: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 146 SIGNIFY HOLDING: PRODUCT LAUNCHES, JANUARY 2020–MAY 2024
TABLE 147 SIGNIFY HOLDING: DEALS, JANUARY 2020–MAY 2024
16.2.2 GAVITA INTERNATIONAL B.V.
TABLE 148 GAVITA INTERNATIONAL B.V.: COMPANY OVERVIEW
TABLE 149 GAVITA INTERNATIONAL B.V.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
16.2.3 HELIOSPECTRA
TABLE 150 HELIOSPECTRA: COMPANY OVERVIEW
FIGURE 58 HELIOSPECTRA: COMPANY SNAPSHOT
TABLE 151 HELIOSPECTRA: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 152 HELIOSPECTRA: PRODUCT LAUNCHES, JANUARY 2020–MAY 2024
TABLE 153 HELIOSPECTRA: DEALS, JANUARY 2020–MAY 2024
16.2.4 AMS-OSRAM AG
TABLE 154 AMS-OSRAM AG: COMPANY OVERVIEW
FIGURE 59 AMS-OSRAM AG: COMPANY SNAPSHOT
TABLE 155 AMS-OSRAM AG: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 156 AMS-OSRAM AG: PRODUCT LAUNCHES, JANUARY 2020–MAY 2024
TABLE 157 AMS-OSRAM AG: DEALS, JANUARY 2020–MAY 2024
16.2.5 CALIFORNIA LIGHTWORKS
TABLE 158 CALIFORNIA LIGHTWORKS: COMPANY OVERVIEW
TABLE 159 CALIFORNIA LIGHTWORKS: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 160 CALIFORNIA LIGHTWORKS: PRODUCT LAUNCHES, JANUARY 2020–MAY 2024
TABLE 161 CALIFORNIA LIGHTWORKS: DEALS, JANUARY 2020–MAY 2024
16.2.6 LEDVANCE GMBH
TABLE 162 LEDVANCE GMBH: COMPANY OVERVIEW
TABLE 163 LEDVANCE GMBH: PRODUCTS/SOLUTIONS/SERVICES OFFERED
16.2.7 HORTILUX SCHRЙDER
TABLE 164 HORTILUX SCHRЙDER: COMPANY OVERVIEW
TABLE 165 HORTILUX SCHRЙDER: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 166 HORTILUX SCHRЙDER: PRODUCT LAUNCHES, JANUARY 2020–MAY 2024
TABLE 167 HORTILUX SCHRЙDER: DEALS, JANUARY 2020–MAY 2024
16.2.8 VALOYA
TABLE 168 VALOYA: COMPANY OVERVIEW
TABLE 169 VALOYA: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 170 VALOYA: PRODUCT LAUNCHES, JANUARY 2020–MAY 2024
TABLE 171 VALOYA: DEALS, JANUARY 2020–MAY 2024
16.2.9 ILUMINAR LIGHTING LLC.
TABLE 172 ILUMINAR LIGHTING LLC.: COMPANY OVERVIEW
TABLE 173 ILUMINAR LIGHTING LLC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
16.2.10 SAVANT TECHNOLOGIES LLC
TABLE 174 SAVANT TECHNOLOGIES LLC: COMPANY OVERVIEW
TABLE 175 SAVANT TECHNOLOGIES LLC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 176 SAVANT TECHNOLOGIES LLC.: DEALS, JANUARY 2020–MAY 2024
16.3 OTHER PLAYERS
16.3.1 ECONOLUX INDUSTRIES LTD.
16.3.2 LEMNIS OREON B.V.
16.3.3 HYPERION GROW LIGHTS
16.3.4 SANANBIO
16.3.5 DONGGUAN LEDESTAR OPTO-ELECTRONICS TECH. CO., LTD.
16.3.6 VIPARSPECTRA
16.3.7 KIND LED GROW LIGHTS
16.3.8 BLACK DOG HORTICULTURE TECHNOLOGIES & CONSULTING
16.3.9 AGROLUX B.V.
16.3.10 SOLLUM TECHNOLOGIES
16.3.11 MARS HYDRO
16.3.12 BIOLOGICAL INNOVATION AND OPTIMIZATION SYSTEMS, LLC
16.3.13 EVERLIGHT ELECTRONICS CO., LTD.
16.3.14 NICHIA CORPORATION
16.3.15 THRIVE AGRITECH
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, MnM view (Key strengths/Right to win, Strategic choices made, Weakness/competitive threats)* might not be captured in case of unlisted companies.
17 APPENDIX
17.1 INSIGHTS OF INDUSTRY EXPERTS
17.2 DISCUSSION GUIDE
17.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
17.4 CUSTOMIZATION OPTIONS
17.5 RELATED REPORTS
17.6 AUTHOR DETAILS
