Grow lights are classified according to their application as research, commercial greenhouse, indoor farming, vertical farming, and indoor farming. The commercial category held the largest share of the market in 2016, which can be attributed to global urbanisation and the demand for consistent food supplies.
In 2016, Europe had the world's largest grow light market, accounting for 25.2% of global revenue. Over the forecast period, the Asia-Pacific region (APAC) is expected to have the fastest market growth. APAC is experiencing rapid market expansion.
The Grow Light Market is expected to be worth USD 16.3 billion by 2027. This will be accompanied by a 32.82% compound annual growth rate (CAGR) due to rising population, increased emphasis on urban farming, and increased emphasis on LED lighting by regional governments.
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Market Key Trends
Indoor grow lights give plants the best possible red and green wavelengths to grow healthy and strong. Red light, when sensed by plants via a special receptor, releases a hormone to prevent chlorophyll loss. Red light can produce healthy plants and also grow flowers and fruits. Grow lights allow you to regulate the intensity of red light. Too much red can lead to serious problems such as spindly, lanky plants.
Researchers from the University of Florida’s Horticultural Sciences Department (August 2019) found that plants grown in slow-disco pulsing lights use less energy than in grow lights. Their idea was tested on seedlings of thale cress and turnip. It showed that these plants could be exposed to pulsing lighting for five seconds, ten-second periods of darkness, and 30% less energy. These technological advances could dramatically lower the farmer’s operational costs by up to 25% over a short period.
Recent Development
· Valoya introduced two new models of its RX-Series LEDs for greenhouses, the RX500- and RX600-series. The new models can replace HPS 1-to-1 and provide uniform light output up to 1700 umol/s. The high light intensity allows them to be placed above the canopy, sometimes as high as 4 meters.
· Fluence by OSRAM – a leading global supplier of energy-efficient LED lighting systems for commercial cannabis production and agriculture production – announced its partnership with The Lamphouse in September 2020. The Lamphouse is Africa’s largest supplier. Fluence’s exclusive partner, The Lamphouse, has over 40 years of experience in various specialty lighting industries. They serve South Africa’s professional horticulture retailers and large commercial cannabis production projects. in various specialty lighting industries. They serve South Africa’s professional horticulture retailers and large commercial cannabis production projects.
· Signify and Yunnan AiBiDa Greenhouse Technology Co., Ltd., China, signed an agreement in August 2020. This is a partnership between the company and Yunnan AiBiDa Greenhouse Technology Co., Ltd., China, a greenhouse floriculture manufacturing company. Signify aims to expand Philips’s Chinese horticulture research network and serve its Chinese floral business through this agreement.
· Fluence by OSRAM released four additional spectra in June 2020 on its VYPR top lamp series. These new spectra boasted market-leading efficacies at 3.8 umol/J. Fluence’s extended PhysioSpec spectra let growers optimize lighting strategies for all crops, regardless of their growth stage or geographic location.
· Signify acquired Cooper Lighting Solutions US in March 2020. It is a major provider of professional, control, and connected lighting. Eaton is a top provider of professional lighting, connected lighting, and lighting controls. With this acquisition, the company will be able to increase its presence in North American markets.
· Nectar Farms Victoria awarded Heliospectra AB a contract in January 2020 for MITRA LED lighting. This will allow Nectar Farms to increase their glasshouse tomato production.
· Heliospectra displayed new, innovative LED lighting solutions at Greentech in May 2019. The company showcased its hi-core light control system, vertical farming-based SIERA lighting bar solution, and its MITRA Series.
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Prominent Players of Indoor LED Grow Lights Market
• AeroFarms
• EVERLIGHT ELECTRONICS CO. LTD.,
• GAVITA Holland bv
• Heliospectra AB
• Hortilux Schréder
• OSRAM GmbH
• Savant Systems Inc.
• Illumitex
• LumiGrow Inc
• Osram Licht AG
Кеу Маrkеt Ѕеgmеntѕ of Indoor LED Grow Lights Market
By Product
• < 300 Watt
• 300 Watt By System
• Hardware
• Software By Technology
• High-Intensity Discharge (HID)
• LED
• Fluorescent
• Plasma
By Installation
• New Installation
• Retrofit By Spectrum
• Partial Spectrum
• Full Spectrum
By Application
• Indoor Farming
• Vertical Farming
• Commercial Greenhouse
• Other applications
Frequently Asked Questions
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