Middle East & Africa Grow Light Market Size & Outlook
Middle East & Africa grow light market, 2018-2030 (US$M)
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MEA grow light market highlights
- The MEA grow light market generated a revenue of USD 351.5 million in 2022.
- The market is expected to grow at a CAGR of 12% 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.
MEA data book summary
| Market revenue in 2022 | USD 351.5 million |
| Market revenue in 2030 | USD 870.8 million |
| Growth rate | 12% (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, MEA region accounted for 7.5% 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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Middle East & Africa 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 53.09% in 2022. Horizon Databook has segmented the Middle East & Africa grow light market based on indoor farming, vertical forming, commercial greenhouse covering the revenue growth of each sub-segment from 2018 to 2030.
Growing urban population and commercialization of indoor grow light farming is anticipated to drive the African regional demand. However, lack of financial resources to build modern vertical farms and limited access to water and land is expected to restrain the Africa regional growth.
The reason for the growth of the agtech sector in Israel is the constant government support and the STEM education program in the country. With a significant pool of affordable and highly skilled labor force, the region has always handled its own agricultural challenges and has created a large export industry.
The growing penetration of tech-enabled and climate-controlled indoor grow light farming in the United Arab Emirates (UAE) and the Gulf Corporation Council countries (GCC) is expected to drive the market demand over the forecast period.
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Our clientele includes a mix of grow light market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa grow light market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa grow light market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Middle East & Africa grow light market
Middle East & Africa Grow Light Market Outlook Share, 2022 & 2030 (US$M)
Middle East & Africa grow light market
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