In 2022, the global grow lights market stood at USD 2,227 million. Recording a CAGR of 14.4% from 2023 to 2029.
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Request for updated version of the report at the same price
Request for updated version of the report at the same price
Request for updated version of the report at the same price
Grow lights have existed for several years and have found widespread usage in different application areas. Different types of grow lights include fluorescent, high intensity discharge (HID), plasma and light emitting diodes (LED). In 2022, the global grow lights market stood at USD 2,227 million. Recording a CAGR of 14.4% from 2023 to 2029, the worth is projected to reach ~USD 5,711 million by 2029, according to a new report by Gen Consulting Company. The increasing global demand for food has generated the need for an increase in indoor farming and cultivation of crops in greenhouses. This is attributed to the constantly decreasing arable land and adverse climatic conditions that are creating havoc in the global agricultural industry due to changing environmental factors. Other factors, including several agricultural science discoveries and the implementation of favourable government regulations, are expected to propel the market in the next few years.The increasing global demand for food has generated the need for an increase in indoor farming and cultivation of crops in greenhouses. This is attributed to the constantly decreasing arable land and adverse climatic conditions that are creating havoc in the global agricultural industry due to changing environmental factors. Other factors, including several agricultural science discoveries and the implementation of favourable government regulations, are expected to propel the market in the next few years.
The report covers market size and growth, segmentation, regional breakdowns, competitive landscape, trends and strategies for global grow lights market. It presents a quantitative analysis of the market to enable stakeholders to capitalize on the prevailing market opportunities. The report also identifies top segments for opportunities and strategies based on market trends and leading competitors’ approaches.
A Bonafide Research industry report provides in-depth market analysis, trends, competitive insights, and strategic recommendations to help businesses make informed decisions.
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