Grow Light Market 2020-2025 | Industry Size by Global Major Companies Profile, Competitive Landscape and Key Regions 2025 | IMARC Group – Jewish Life…

The global grow light market reached a value of USD 3.65 Billion in 2019. Looking forward, the market is expected to continue its moderate growth during the next five years., according to a new report by IMARC Group.

Grow light, also known as plant light, is an artificial source of light that promotes photosynthesis and helps in stimulating the growth of plants. There is a wide variety of grow lights available in the market, ranging from fluorescent, high-intensity discharge (HID) to light-emitting diodes (LED), and incandescent variants. They emit light in the electromagnetic spectrum and are used where there is little or no sunlight.

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Market Trends

The global grow light market is primarily driven by significant growth in the agricultural sector. Grow lights help farmers maintain the optimal yield and plant quality, thereby meeting the steadily rising food demand across the globe. These lights are also used for flowering inhibition, anthocyanin accumulation and enhanced rooting, as well as for supplementing sunlight, color and temperature to the crops. Besides this, the growing awareness among farmers about the benefits of LED grow lights has increased their demand, as they are cost-efficient and allow the growers to cultivate plants indoors while keeping the electricity consumption at a minimum level. Owing to these properties, They find extensive applications in vertical farming, indoor farming, commercial greenhouses, and landscaping. Moreover, with advancements in technology, manufacturers have developed smart grow lights integrated with the Internet of Things (IoT), which is expected to create a positive outlook for the market in the upcoming years.

Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Global Grow Light Market 2020-2025 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of the major players operating in the industry include Epistar (TPE: 2448), Everlight Electronics (TPE: 2393), Gavita International B.V., General Electric Company (NYSE: GE), Heliospectra AB, Illumitex Inc., LumiGrow, Osram Licht AG, Shenzhen Juson Technology Co. Ltd., etc.

Related:Luminous Growth in Smart Lighting Market

The report has segmented the market on the basis of technology, installation type, spectrum, application, and region.

Breakup by Technology:

HIDLEDFluorescentOthers

Breakup by Installation Type:

New InstallationsRetrofit Installations

Breakup by Spectrum:

Full-SpectrumPartial Spectrum

Breakup by Application:

Indoor FarmingVertical FarmingCommercial GreenhouseTurf and LandscapingOthers

Market Breakup by Region

Key highlights of the report:

Market Performance (2014-2019)Market Outlook (2020- 2025)Porters Five Forces AnalysisMarket Drivers and Success FactorsSWOT AnalysisValue ChainComprehensive Mapping of the Competitive Landscape

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About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

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Grow Light Market 2020-2025 | Industry Size by Global Major Companies Profile, Competitive Landscape and Key Regions 2025 | IMARC Group - Jewish Life...