Grow Lights Market Analysis

Technology (LED, Fluorescent, Plasma, High Intensity Discharge)

The LED segment is estimated to gain the largest grow lights market share of 38% in the year 2037. The growth of the segment is propelled by the increasing government initiatives to adopt energy efficient LEDs. In addition, the surging urban population is opting for LEDs technology, followed by an increase in the sale of LED lights. This is set to influence the growth of the segment during the forecast timeline.

Application (Commercial Greenhouse, Vertical Farming, Indoor Farming)

The vertical farming segment in the grow lights market is slated to hold the significant share during the forecast timeframe. This can be attributed to the widely acceptance of vertical farming in countries such as China, Japan, and others. Vertical farming produces food, herbs, and medication in vertically stacked layers. These are integrated into a utilized warehouse, skyscraper, or shipping container. Some vertical farms use greenhouse techniques, in which sunlight is enhanced with metal reflectors and grow lights. This influences the growth of the segment.

Our in-depth analysis of the global market includes the following segments:

Application	Commercial Greenhouse Vertical Farming Indoor Farming
Installation Type	New Installation Retrofit
Technology	LED Fluorescent Plasma High Intensity Discharge
Wattage	300 Watts 300 Watts
Spectrum	Partial Spectrum Full Spectrum

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of grow lights is assessed at USD 3.37 billion.

The grow lights market size was over USD 2.87 billion in 2024 and is poised to reach USD 34.85 billion by the end of 2037, growing at around 21.4% CAGR during the forecast period i.e., between 2025-2037. The market growth is driven by increasing demand for energy-efficient lighting solutions, the rising demand for horticultural lighting, and the growing awareness about the ecological benefits of using LED grow lights.

European industry is predicted to be the largest with a share of 28% by 2037, led by increasing awareness of alternative farming owing to non-availability of enough fertile agricultural land in the region.

The major players in the market include Gavita International B.V., Smart Global Holdings, Inc., EVERLIGHT ELECTRONICS CO., LTD, Savant Systems, Inc, Bridgelux, Inc., OSRAM GmbH, Heliospectra AB, Black Dog LED, WOLFSPEED, INC., Samsung Electronics.

Grow Lights Market Analysis