Trends and Forecast for the Global Grow Light MarketTrends, opportunities and forecast in grow light market to 2025 by light source (HID, LED, fluorescent), installation type (new installation, retrofit), application (indoor farming, commercial greenhouse, vertical farming, and others) and region (North America, Europe, Asia Pacific (APAC), and Rest of the World (ROW)Lucintel's latest market report analyzed that grow light provides attractive opportunities in the indoor farming, commercial greenhouse, and vertical farming applications. The grow light market is expected to grow at a CAGR of 20% to 22%. In this market, commercial greenhouse is the largest segment by application.
Download Brochure of this report by clicking on https://www.lucintel.com/grow-light-market.aspx Based on application, the grow light market is segmented into indoor farming, commercial greenhouse, vertical farming, and others. The commercial greenhouse segment accounted for the largest share of the market in 2020 and is expected to register the highest CAGR during the forecast period, due to increased automation in the last decade of its and the concept of controlled environment agriculture (CEA) is being implemented in greenhouses to maintain optimum growing conditions and obtain a higher yield.
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The Grow Light Market is marked by the presence of several big and small players. Some of the prominent players offering grow light include Koninklijke Philips N.V., Osram Licht AG, General Electric Company, Heliospectra AB, Dool Industries, Illumitex Inc., Gavita International B.V., Lumigrow Inc., Iwasaki Electric Co. Ltd., Sunlight Supply Inc., Hydrofarm Inc., and Fluence Bioengineering Inc.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link helpdesk@lucintel.com.
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