Looking forward, IMARC Group expects the global grow light market to exhibit strong growth during the next five years.

SHERIDAN, WYOMING, UNITED STATES, October 19, 2021 /EINPresswire.com/ -- According to IMARC Group’s latest report, titled “Grow Light Market Size: Global Industry Trends, Share, Growth, Opportunity and Forecast 2021-2026”, the global grow light market reached a value of US$ 3.26 Billion in 2020. A grow light, or plant light, refers to an artificial light source that provides an electromagnet light spectrum to promote photosynthesis and accelerate growth in plants. It is available in fluorescent, high-intensity discharge (HID), light-emitting diodes (LED), and incandescent variants. Grow lights are primarily used for supplementing sunlight, color, and temperature to the crops and can be tailored according to a specific goal, such as flowering inhibition, anthocyanin accumulation, and enhanced rooting. Owing to this, they find extensive applications in vertical farming, indoor farming, commercial greenhouses, and landscaping.

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Significant growth in the agricultural sector, along with the rising popularity of vertical and indoor farming practices, is primarily driving the market growth. Besides this, the emergence of hydroponic farming systems has induced the usage of grow lights to provide an adequate amount of sunlight and prevent the plants from damage caused by insects and pests. Additionally, the growing demand for food due to the increasing population, coupled with the limited availability of cultivable land, is also catalyzing the adoption of grow lights in sustainable farming methods. Besides this, various technological innovations such as the integration of the Internet-of-Things (IoT) with smart grow lights are expected to further propel the global market for grow light in the coming years. Looking forward, IMARC Group expects the global grow light market to exhibit strong growth during the next five years.

As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Competitive Landscape with Key Players:

Epistar
Everlight Electronics
Gavita International B.V.
General Electric Company
Heliospectra AB
Illumitex Inc.
Koninklijke Philips N.V.
LumiGrow
Osram Licht AG
Shenzhen Juson Technology Co. Ltd.
Market Segmentation:

Breakup by Technology:

HID
LED
Fluorescent
Others

Breakup by Installation Type:

New Installations
Retrofit Installations

Breakup by Spectrum:

Full-Spectrum
Partial Spectrum

Breakup by Application:

Indoor Farming
Vertical Farming
Commercial Greenhouse
Turf and Landscaping
Others

Breakup by Region:

North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Argentina
Columbia
Chile
Peru
Others
Middle East and Africa
Turkey
Saudi Arabia
Iran
United Arab Emirates
Others

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Key highlights of the report:

Market Performance (2015-2020)
Market Outlook (2021-2026)
Market Trends
Market Drivers and Success Factors
The Impact of COVID-19 on the Global Market
Value Chain Analysis
Structure of the Global Market
Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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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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IMARC Services Private Limited
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