Europe Grow Light Market Size & Outlook, 2022-2030
Europe grow light market, 2018-2030 (US$M)
Related Markets
Europe grow light market highlights
- The Europe grow light market generated a revenue of USD 1,495.0 million in 2022.
- The market is expected to grow at a CAGR of 14.4% from 2023 to 2030.
- In terms of segment, commercial greenhouse was the largest revenue generating application in 2022.
- Vertical Forming is the most lucrative application segment registering the fastest growth during the forecast period.
- Country-wise, Germany is expected to register the highest CAGR from 2023 to 2030.
Europe data book summary
| Market revenue in 2022 | USD 1,495.0 million |
| Market revenue in 2030 | USD 4,379.7 million |
| Growth rate | 14.4% (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 |
| Key market players worldwide | AeroFarms, Everlight Electronics, Illumitex, LumiGrow, OSRAM Licht AG, Heliospectra, Gavita, Hortilux Schréder |
Other key industry trends
- In terms of revenue, Europe region accounted for 31.9% of the global grow light market in 2022.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 4,485.6 million by 2030.
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Grow Light Market Scope
Grow Light Market Companies
| Name | Profile | # Employees | HQ | Website |
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Europe 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 40.09% in 2022. Horizon Databook has segmented the Europe grow light market based on indoor farming, vertical forming, commercial greenhouse covering the revenue growth of each sub-segment from 2018 to 2030.
The regional market in Europe is expected to witness significant growth over the forecast period owing to the continued advances in genetically modified crop technology. Furthermore, continued adoption of new technology and increasing urban farming are further triggering the regional market demand.
The population of Europe is growing, but the land available for farming is a limited amount. According to EU projections, by 2045, more than 529 million people are on the continent. Growing produce to feed this vast population may not be possible with traditional farming techniques, hence there is a growing need for technology-driven agriculture.
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Target buyers of Europe 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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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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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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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Europe grow light market , including forecasts for subscribers. This continent databook contains high-level insights into Europe grow light market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Europe grow light market size, by country, 2018-2030 (US$M)
Europe Grow Light Market Outlook Share, 2022 & 2030 (US$M)
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