Grow Lights Market

“Global Grow Lights Market- Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth and Forecast, 2022-2027” provides a deep and thorough evaluation of the global grow lights market. Grow light, also known as plant light, radiates light in the electromagnetic spectrum to stimulate photosynthesis which increases the health, growth rate, and yield of the plants growing indoors. Some of the most commonly used grow lights are light-emitting diodes (LED), high-intensity discharge (HID), fluorescent tubes and compact fluorescent lights (CFLs), and incandescent variants. They are used to mimic sunlight, color, and temperature in crops, which can also be customized according to the need or type of plants, such as flowering inhibition, anthocyanin accumulation, and enhanced rooting. Consequently, they are extensively utilized in indoor farming, commercial greenhouses, vertical farming, landscaping, and other purposes.

The market is primarily driven by the expanding agricultural industry. In addition, the growing trend of indoor farming and the emerging popularity of commercial greenhouses for plant cultivation represent other major growth-inducing factors. As indoor farming protects crops from extreme weather conditions, farmers are widely using artificial environmental control and fertigation to cultivate more yield. Moreover, the extensive adoption of vertical and landscaping practices is also contributing to market growth. Apart from this, the increasing demand for food due to the rising population is compelling manufacturers to expand plant factories, thus augmenting the market growth. Besides this, various technological advancements, such as the development of smart grow lights integrated with the Internet of Things (IoT), are also providing a positive thrust to market growth. Furthermore, hydroponic farming systems use multiple grow lights to maintain a sufficient amount of sunlight and protect the plants from harm caused by insects and pests. This, coupled with the increasing innovations in the agricultural sector and subsidies provided by the governments on equipment that aids farmers with their cultivation methods, is anticipated to propel the market growth in the coming years. Moreover, the growing awareness regarding alternative farming is also escalating product demand.

Beginning with a global overview, the report explores the dynamics that have a strong influence on the grow lights market and can also impact its future growth. Taking 2021 as the base year, the report covers the historical market scenario from 2016-2021 and provides forecasts till 2027. This includes the study of value and volume trends and pricing history. Growth-inducing factors, market restraints, and recent developments have also been analyzed in the report in order to provide deeper knowledge about the industry. On a regional basis, the report examines the grow lights market in North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. For each of these regions, the report studies the grow lights market in detail for the latest trends, outlook, and opportunities.

The report analyses the competitive structure of the grow lights industry and provides the profiles of major players operating in the market. The price margins for the products along with the various success and risk factors for manufacturers have also been covered in the report. Moreover, in order to determine market attractiveness, the report analyses the grow lights industry along with the parameters of Porter’s Five Forces model. This model examines the degree of competition in the grow lights industry by analyzing the threat posed by new entrants and substitutes, and the bargaining power of suppliers and buyers. SWOT analysis of the market has also been presented in the report which highlights the strengths, weaknesses, opportunities, and threats pertaining to the grow lights industry. Furthermore, the value chain analysis of the grow lights industry has also been covered in the report. This comprises all the activities in the value chain, such as the procurement of various raw materials, manufacturing, sales, and distribution. 
    
Key Segments and Highlights of the Global Grow Lights Market 

• Historical and current scenario
• Trends and developments
• Impact of COVID-19
• Market forecast
• Price analysis and forecast
• Porter’s five forces analysis
• SWOT analysis
• Value chain analysis
• Market Breakup by Type
• Market Breakup by End-Use
• Market Breakup by Region
  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa

• Key players         

The report is a result of exhaustive primary and secondary research undertaken by analysts having years of experience in the grow lights industry. All the qualitative and quantitative aspects of the industry have been covered and the collected data has been analyzed and presented in the form of easily comprehensible charts, graphs, and tables.