Global Grow Light Market Size & Outlook, 2022-2030
Global grow light market, 2018-2030 (US$M)
Related Markets
Global grow light market highlights
- The global grow light market generated a revenue of USD 4,687.5 million in 2022 and is expected to reach USD 14,312.7 million by 2030.
- The market is expected to grow at a CAGR (2023 - 2030) of 15% by 2030.
- In terms of segment, commercial greenhouse accounted for a revenue of USD 2,049.8 million in 2022.
- Vertical Forming is the most lucrative application segment registering the fastest growth during the forecast period.
- In terms of region, Europe was the largest revenue generating market in 2022.
- Country-wise, UK is expected to register the highest CAGR from 2023 to 2030.
Global data book summary
| Market revenue in 2022 | USD 4,687.5 million |
| Market revenue in 2030 | USD 14,312.7 million |
| Growth rate | 15% (CAGR from 2022 to 2030) |
| Largest segment | Commercial greenhouse |
| Fastest growing segment | Vertical Forming |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Indoor Farming, Vertical Forming, Commercial Greenhouse |
Other key industry trends
- In terms of revenue, the North America accounted for 22.7% of the global grow light market in 2022.
- By country, the China is projected to lead the global market in terms of revenue in 2030.
- By country, UK is the fastest growing regional market and is projected to reach USD 973.2 million by 2030.
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Grow Light Market Scope
Grow Light Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Global grow light market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to grow light market will help companies and investors design strategic landscapes.
Commercial greenhouse was the largest segment with a revenue share of 43.73% in 2022. Horizon Databook has segmented the Global grow light market based on indoor farming, vertical forming, commercial greenhouse covering the revenue growth of each sub-segment from 2018 to 2030.
- Global Grow Light Application Outlook (Revenue, USD Million, 2018-2030)
- Indoor Farming
- Vertical Forming
- Commercial Greenhouse
- Others
- Global Grow Light Product Outlook (Revenue, USD Million, 2018-2030)
- < 300 Watt
- > 300 Watt
- Global Grow Light System Outlook (Revenue, USD Million, 2018-2030)
- Hardware
- Software
- Global Grow Light Technology Outlook (Revenue, USD Million, 2018-2030)
- High Intensity Discharge
- LED
- Fluorescent
- Plasma
- Global Grow Light Installation Outlook (Revenue, USD Million, 2018-2030)
- New Installation
- Retrofit
- Global Grow Light Spectrum Outlook (Revenue, USD Million, 2018-2030)
- Partial Spectrum
- Full Spectrum
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Target buyers of Global grow light market databook
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Our clientele includes a mix of grow light market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of global-level data and insights on the Global grow light market , including forecasts for subscribers. This global databook contains high-level insights into Global grow light market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Global grow light market size, by regions, 2018-2030 (US$M)
Top 10 countries: Grow light market size, 2022 (US$M)
Global grow light market share, by application, 2022 & 2030 (%, US$M)
Grow light market: Opportunity assessment by country
Global grow light market, by region, 2022 (US$M)
| Application | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | 769.0 | 883.4 | 904.2 | 956.0 | 1,062.2 | 1,212.1 | 1,392.8 | 1,608.8 | 1,864.7 | 2,165.1 | 2,498.7 | 2,878.6 | 3,313.4 | 15.3% |
| Europe | 1,116.5 | 1,272.6 | 1,292.6 | 1,356.1 | 1,495.0 | 1,692.8 | 1,930.2 | 2,212.4 | 2,543.7 | 2,930.3 | 3,355.5 | 3,835.3 | 4,379.7 | 14.4% |
| Asia Pacific | 916.5 | 1,064.7 | 1,102.1 | 1,178.4 | 1,324.0 | 1,527.9 | 1,775.6 | 2,074.2 | 2,424.7 | 2,843.7 | 3,317.0 | 3,859.3 | 4,485.6 | 16.5% |
| Latin America | 348.1 | 394.4 | 398.1 | 415.1 | 454.8 | 511.9 | 580.1 | 660.9 | 754.0 | 862.7 | 981.5 | 1,114.0 | 1,263.2 | 13.6% |
| MEA | 280.8 | 315.4 | 315.2 | 324.9 | 351.5 | 389.8 | 434.6 | 486.1 | 553.9 | 625.6 | 698.2 | 780.4 | 870.8 | 12.0% |
| Overall | 3,430.9 | 3,930.5 | 4,012.2 | 4,230.6 | 4,687.5 | 5,334.4 | 6,113.2 | 7,042.4 | 8,141.0 | 9,427.3 | 10,850.8 | 12,467.5 | 14,312.7 | 15.0% |
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