Global Grow Light Market Size To Exceed USD 31.98 Billion By 2035 | CAGR of 16.31%

Global Grow Light Market Size To Exceed USD 31.98 Billion By 2035

According to a research report published by Spherical Insights & Consulting, the Global Grow Light Market  Size is Expected to Grow from USD 6.07 Billion in 2024 to USD 31.98 Billion by 2035, at a CAGR of 16.31% during the forecast period 2025-2035.

Browse key industry insights spread across 230 pages with 140 Market data tables and figures & charts from the report on the "Global Grow Light Market Size, Share, and COVID-19 Impact Analysis, By Product (< 300 Watt, > 300 Watt), By Installation (New Installation, and Retrofit), By Technology (High Intensity Discharge, LED, Fluorescent, Plasma), By Application (Indoor Farming, Vertical Farming, Commercial Greenhouse, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2025 – 2035." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/grow-light-market     

The grow light market refers to a synthetic electric light source that replicates the spectrum of sunlight or is customized to meet the needs of specific plants to encourage their growth. These lights help grow plants indoors or in areas with little natural light because they provide certain wavelengths, typically red and blue, to promote various growth phases like germination, vegetative growth, and flowering. The market growth is driven by the lack of arable land is driving demand for alternative agricultural methods, including indoor and vertical farming. These systems require grow lights since they extend growth hours and boost crop yields. Growing understanding of sustainable agriculture and food security is contributing to their rising popularity. A controlled environment protected from severe weather allows for year-round growing. However, the market growth is hindered by the high upfront costs currently hinder widespread adoption of LED grow lights, especially for small-scale farmers. anticipated price reductions may ease this barrier.

The < 300-watt segment dominated the market in 2024 and is projected to grow at a substantial CAGR during the estimated timeframe.

On the basis of product, the grow light market is segmented into < 300 watt, > 300 watt. Among these, the < 300-watt segment dominated the market in 2024 and is projected to grow at a substantial CAGR during the estimated timeframe. The growth is driven by the growing need for high-intensity illumination in commercial horticulture and vertical farming. High-wattage systems encourage optimal plant development and offer uniform coverage, especially during crucial growth times. Commercial growers desire to use high PPFD lighting solutions to increase quality and yield. This graph illustrates how large-scale businesses are increasingly using grow lights with a power output of less than 300 watts.

The retrofit segment accounted for the largest share in 2024 and is anticipated to grow at the fastest CAGR during the projected timeframe.

On the basis of installation, the grow light market is classified into new installations and retrofits. Among these, the retrofit segment accounted for the largest share in 2024 and is anticipated to grow at the fastest CAGR during the projected timeframe. The segmental growth is due to the expansion of urban and vertical farming. These tasks usually include renovating already-existing commercial or industrial structures where structural constraints and electrical systems preclude the installation of entirely new lighting infrastructure. Without undergoing significant renovations, operators can enhance illumination intensity and quality to suit the requirements of specific crops with the aid of scalable and flexible retrofit grow light solutions. The versatility of retrofitting makes it a particularly attractive solution for small and medium-sized enterprises wishing to get into the controlled-environment agriculture sector.

The LED segment accounted for the largest share in 2024 and is anticipated to grow at the fastest CAGR during the projected period.

On the basis of technology, the grow light market is classified into high-intensity discharge, LED, fluorescent, and plasma. Among these, the LED segment accounted for the largest share in 2024 and is anticipated to grow at the fastest CAGR during the projected period. The segmental growth is due to expanding urban farming and government initiatives to use LEDs that use less energy. The costliest LED bulbs are the most efficient. LEDs are used to create the desired light at the exact wavelength. It can simultaneously generate a red and blue dual-band spectrum. LEDs are beneficial at every stage of development. LEDs are more expensive initially, but they progressively drop in price.

The commercial greenhouse segment accounted for the largest share in 2024 and is anticipated to grow at the fastest CAGR during the estimated period.

On the basis of application, the grow light market is segmented into indoor farming, vertical farming, commercial greenhouse, and others. Among these, the commercial greenhouse segment accounted for the largest share in 2024 and is anticipated to grow at the fastest CAGR during the estimated period. The segmental growth is due to the legalization and commercialization of cannabis in some countries has resulted in a sharp rise in the use of advanced grow lighting systems. Technological developments, falling LED grow light prices, and government incentives for ecologically friendly farming practices are all driving the market's expansion. As producers search for ways to increase productivity while reducing costs, advanced grow lighting systems are becoming increasingly important in modern greenhouse farming.

North America is expected to hold the majority share of the global grow light market during the forecast period.

North America is expected to hold the majority share of the global grow light market during the forecast period. The advancements in agricultural technology and the rising desire, especially in North America, for healthful, locally produced food. Year-round farming requires artificial lighting due to the severe weather and long winters. Improvements in LED technology and falling prices have further sped up adoption in indoor farming. Cannabis legalization has also raised demand for precise, energy-efficient lighting systems that optimize plant growth.

Asia Pacific is anticipated to grow at the fastest pace in the global grow light market during the forecast period. The area is the growing expenditures on smart agriculture and agritech innovation. Modern farming methods are being promoted by governments and commercial companies throughout the region to address climate-related problems and agricultural inefficiencies. Grow lights are crucial for plant growth in fully enclosed environments, which is why South Korea and Japan have invested heavily in vertical farming projects. LED grow lights are employed because they improve energy efficiency and provide flexible light spectrums, two crucial features for advanced indoor farms that are located in cities.

Major vendors in the global grow light market are AeroFarms, Sunlight Supply, Inc., EVERLIGHT ELECTRONICS CO., LTD., Signify Holding, GAVITA Holland BV, Osram Licht AG, Heliospectra AB, LumiGrow Inc, Hortilux Schréder, Illumitex, ams-OSRAM AG, Mars Hydro, California LightWorks, Shenzhen Juson Technology Co. Ltd., and Others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Key Market Development 

• In June 2024, Signify Holding introduced the Philips GreenPower LED Toplighting Force 2.0 (TLF 2.0), which offers high light output of up to 5150 µmol/s.  More light in the right situation leads to increased yields and better company performance. The newly developed Quadro beam lens enables constant light dispersion in all directions, even at high light output levels. This results in fewer fixtures required for the same area, lowering installation costs and increasing light efficiency.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the grow light market based on the below-mentioned segments:

Global Grow Light Market, By Product

• < 300 Watt
• 300 Watt

Global Grow Light Market, By Installation

• New Installation
• Retrofit

Global Grow Light Market, By Technology

• High Intensity Discharge
• LED
• Fluorescent
• Plasma

Global Grow Light Market, By Application

• Indoor Farming
• Vertical Farming
• Commercial Greenhouse
• Others

Global Grow Light Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa

About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements. 

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