Grow Lights Market 2025 is Projected to Grow Expeditiously: to Reach USD 27.3 Billion by 2031, Report

The grow lights market was valued at $2.4 billion in 2021, and is estimated to reach $27.3 billion by 2031, growing at a CAGR of 27.5% from 2022 to 2031.

WILMINGTON, DE, UNITED STATES, August 12, 2025 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “Grow Lights Market," The grow lights market was valued at $2.4 billion in 2021, and is estimated to reach $27.3 billion by 2031, growing at a CAGR of 27.5% from 2022 to 2031.

Grow lights are energy-efficient that are used in indoor farming and commercial greenhouse growers. They offer extensive customization and control to account for transition from solar radiation to artificial light in the growth process of plants. Many growers gain benefits of LED lights to help scale plant production due to their full light spectrum capabilities, low heat wastage & maintenance, and extended lifespan. Moreover, grow light fixture offer high quality spectral accuracy and optimized beam spreads that are advantageous for growers. Some of the major drivers of the grow light industry are benefits offered by grow light such as high controllability for the intensity of light & higher efficiency in terms of its ability to convert power (Watts) into photosynthetic active radiation (PAR) that can be used by crops. However, high initial investments and lack of standardization act as major barriers for the grow lights industry growth. Conversely, plantation for medicinal plants is expected to create lucrative opportunities for the grow lights market growth during the forecast period.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 & 𝐓𝐎𝐂 : https://www.alliedmarketresearch.com/request-sample/A06157

The global grow lights market size is analyzed into offering, technology, spectrum, installation type, application, and region. Depending on offering, the market is fragmented into hardware, software, and services. The hardware segment dominated the market, in terms of revenue in 2021, and is expected to follow the same trend during the forecast period. On the basis of technology, the market is segregated into high-intensity discharge (HID), light-emitting diode (LED), fluorescent, and others. The LED segment registered the highest growth, in terms of revenue in 2021, and is anticipated to witness significant growth during the forecast period.

By spectrum, the market is divided into narrow and broad. The narrow segment led the market, in terms of revenue in 2021, and is anticipated to garner significant market share during the forecast period. As per installation type, it is divided into new installation and retrofit. Both new installation and retrofit segments are further bifurcated into remote and touch. The market share for the new installation segment was highest in 2021 and is expected to grow at a high CAGR from 2022 to 2031. According to application, the market is differentiated into indoor farming, commercial greenhouse, vertical farming, turf & landscaping, research, and others. The market share for the commercial greenhouse segment was highest in 2021, however, the others segment is expected to grow at a high CAGR from 2022 to 2031.

The grow lights market trends has been significantly impacted by the COVID-19 outbreak. Production facilities of electronics and semiconductors have been halted, owing to slowdown and unavailability of workforce across the globe. However, companies such as BIOS Lighting and Kroptek are looking forward to producing a single grow light, which contains multiple options such as Internet of Things (IoT), dimmable LEDs, and adjusting height of fixtures. Moreover, key players in the global grow light market are shifting toward agile supply chain network model that has multiple pathways to prevent single points of failure. It can help them balance costs with better assurance for business continuity and sustainability.

𝐓𝐡𝐞 𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐒𝐭𝐚𝐤𝐞𝐡𝐨𝐥𝐝𝐞𝐫𝐬 𝐜𝐚𝐧 𝐄𝐧𝐪𝐮𝐢𝐫𝐞 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 @ https://www.alliedmarketresearch.com/purchase-enquiry/A06157

Region wise, Europe holds a significant share in the grow lights market analysis, owing to rapid increase in urban agriculture, such as vertical farming, green houses, and growth chambers. However, Asia-Pacific is expected to exhibit the highest CAGR of 29.4% during the forecast period.

The key players profiled in the report include BIOS Lighting

Fluence (Osram)

GE Current

Heliospectra AB

HORTILUX SCHRÉDER

Kroptek

SANlight GmbH

Signify N.V.

Valoya

Vertically Urban

𝐋𝐈𝐌𝐈𝐓𝐄𝐃-𝐓𝐈𝐌𝐄 𝐎𝐅𝐅𝐄𝐑 – 𝐁𝐮𝐲 𝐍𝐨𝐰 & 𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 @ https://www.alliedmarketresearch.com/checkout-final/2bdd1857250cfd9990d875dc7f1fa642

Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the grow lights market analysis from 2021 to 2031 to identify the prevailing grow lights market opportunities.

The market research is offered along with information related to key drivers, restraints, and opportunities.

Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.

In-depth analysis of the grow lights market segmentation assists to determine the prevailing market opportunities.

Major countries in each region are mapped according to their revenue contribution to the global market.

Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.

The report includes the analysis of the regional as well as global grow lights market trends, key players, market segments, application areas, and market growth strategies.

𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭 :
Electronic Components Market https://www.alliedmarketresearch.com/electronic-components-market-A38664
Medical Electronics Market https://www.alliedmarketresearch.com/medical-electronics-market
Flexible Electronics Market https://www.alliedmarketresearch.com/flexible-electronics-market
Printed Electronics Market https://www.alliedmarketresearch.com/printed-electronics-market
Consumer Electronics Batteries Market https://www.alliedmarketresearch.com/consumer-electronics-batteries-market-A207856

David Correa
Allied Market Research
+ +1 800-792-5285
email us here
Visit us on social media:
LinkedIn
Facebook
YouTube
X

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.