Worldwide Horticultural Grow Light Industry to 2031 - Rising Need Among Food Producers to Adopt Advanced Farming Methods is Driving Growth - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--Nov 21, 2022--

The "Global Horticultural Grow Light Market Analysis 2021-2031" report has been added to ResearchAndMarkets.com's offering.

The global horticultural grow light market is anticipated to grow with a CAGR of 18.4% during the forecast period, i.e., 2022 - 2031.

The market is estimated to garner a revenue of near to USD 39250 Million by the end of 2031, up from a revenue of about USD 7280 Million in the year 2021.

Companies Mentioned

• Signify Holding (Philips)
• Fluence Bioengineering Inc.
• GE Lighting (SAVANT TECHNOLOGIES LLC)
• Hubbell Incorporated
• California Lightworks
• Gavita International B.V.
• Heliospectra AB
• Valoya
• LumiGrow Inc.
• Hortilux Schreder
• Lemnis Oreon BV
• Black Dog Grow Technologies Inc.
• Agnetix
• Thrive Agritech
• Hyperion Grow Lights Limited
• Hydrofarm Holdings Group Inc.
• MechaTronix Co. Ltd.
• Felio Sylvania Group
• SANANBIO
• PL Light Systems
• Tungsram Operations Ltd.
• ams-OSRAM International GmbH
• Lumileds Holding B.V.
• Cree LED (SMART Global Holdings Inc.)
• SAMSUNG
• Bridgelux Inc.
• Luminus Inc.

Factors such as the surge in government initiatives that are aimed to promote the adoption of controlled environment agriculture (CEA) practices, along with the growing need amongst the producers of food to adopt advanced farming methods, and the increasing demand for different types of food crops globally, and therefore the need amongst the food producers to adopt sustainable production processes are projected to drive the growth of the market.

The global horticultural grow light market is segmented into numerous segments which include segmentation by product, application, connection, technology, watt, cultivated plant, distribution channel, and by region. By cultivated plant, the market is segmented into fruits & vegetables, floriculture, cannabis, crops, and others. The fruits & vegetables segment, out of all the other segments, is projected to garner the largest revenue of more than USD 30340 Million by the end of 2031. Additionally, in the year 2021, the segment generated a revenue of over USD 5670 Million.

On the basis of regional analysis, the global horticultural grow light market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. The market in the Asia Pacific, out of the market in all the other regions, is projected to garner the largest revenue of around USD 18090 Million by the end of 2031. Additionally, in the year 2021, the market in the region generated a revenue of close to USD 3420 Million.

Key Topics Covered:

1. Market Definition

2. Assumptions and Acronyms

3. Research Methodology

4. Executive Summary - Global Horticultural Grow Light Market

5. Market Dynamics

5.1. Drivers

5.2. Trends

6. Key Market Opportunities

7. Major Roadblocks for the Market Growth

8. Regulatory & Standards Landscape

9. Industry Risk Analysis

10. Market Attractiveness Analysis

11. Technological Outlook

12. Horticulture Grow Light Market Ecosystem

13. Value Chain Analysis

14. Raw Material Analysis

15. Customer Preference Analysis

16. Industry Growth Outlook

17. Impact of COVID-19 on the Horticulture Grow Light Market

18. Cost Analysis

19. Competitive Positioning

19.1. Horticulture Grow Light Products (LED Fixture)

19.2. LED Chip

20. Competitive Structure

20.1. Market Share Analysis

20.2. Competitive Benchmarking

20.3. Company Profiles - Horticulture Grow Light Products (LED Fixture)

21. Global Horticulture Grow Light Market

21.1. Market Overview

21.2. Market Size (2021-2031)

21.3. Market Segmentation

21.3.1. By Product Offering

21.3.2. By Application

21.3.3. By Connection

21.3.4. By Technology

21.3.5. By Watt

21.3.6. By Cultivated Plant

21.3.7. By Distribution Channel

21.3.8. By Region

22. North America Horticulture Grow Light Market

23. Europe Horticulture Grow Light Market

24. Asia Pacific Horticulture Grow Light Market

25. Rest of the World Horticulture Grow Light Market

For more information about this report visit https://www.researchandmarkets.com/r/md3pum

View source version on businesswire.com:https://www.businesswire.com/news/home/20221121005748/en/

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KEYWORD: EUROPE NORTH AMERICA ASIA PACIFIC

INDUSTRY KEYWORD: AGRICULTURE NATURAL RESOURCES OTHER MANUFACTURING CONSUMER ELECTRONICS TECHNOLOGY CANNABIS MANUFACTURING OTHER TECHNOLOGY

SOURCE: Research and Markets

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