Grow Light Market Segmentation Report from 2022 to 2030.

Grow Light Industry Overview

The global grow light market size was valued at USD 4.23 billion in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 15.0% from 2022 to 2030.

Growing urban cultivation, vertical farming and growing adoption of environment-friendly production of fruits and vegetables is boosting the growth of the market. The unprecedented growth of the global population has also increased the demand for urban agriculture. Furthermore, the practice of vertical farming for producing food in a vertically stacked-layer such as a used warehouse, skyscraper, or shipping container is boosting the market growth.

Gather more insights about the market drivers, restrains and growth of the Grow Light Market

Grow light helps in extending the hours of the natural daylight which further increases the health, growth rate, and yield of the plants. Artificial lighting, such as high-pressure sodium lighting, LED lighting and plasma lighting can extend the availability of crops (throughout a season). Growing awareness regarding the importance of alternative farming, owing to the less availability of fertile agricultural land and increasing population, are the key factors anticipated to spur the industry demand.

Unlike traditional farming, indoor farming can produce crops throughout the year, which results in increased productivity. Furthermore, indoor farming can protect crops from extreme weather conditions through the usage of techniques such as the controlled environment agriculture technology, where the facilities use artificial environmental control, control of light, and fertigation.

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Grow Light Market Segmentation

Grand View Research has segmented the global grow light market based on application, product, system, technology, installation, spectrum, and region:

Grow Light Application Outlook (Revenue, USD Million, 2017 - 2030)