Grow Light Market by Technology (HID, Fluorescent, LED, Induction, and Plasma), Type of Installation (New and Retrofit), Application (Indoor Farming, Commercial Greenhouse, Vertical Farming, Research), and Geography - Global Forecast to 2022

  • ID: 4165323
  • Report
  • Region: Global
  • 171 Pages
  • Markets and Markets
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The Grow Lights Market Was Valued at USD 2.50 Billion in 2016 and is Likely to Grow at a CAGR of 11.86% Between 2017 and 2022

FEATURED COMPANIES

  • Aerofarms
  • Fluence Bioengineering
  • General Electric Company
  • Hortilux Schreder B.V.
  • Indulux Technologies Inc.
  • Osram Licht AG
  • MORE

“Grow lights market to exhibit a high growth between 2017 and 2022”

The grow lights market was valued at USD 2.50 billion in 2016 and is likely to grow at a CAGR of 11.86% between 2017 and 2022. The key factors driving the growth of the market include growth in indoor farming practices, government initiatives to encourage the adoption of solid state lighting (SSL) technology such as LED, and rising demand for energy-efficient and long lasting grow lights technology. However, the high costs of energy-efficient grow lights are restraining the growth of this market.

“Commercial greenhouses to hold a major share of the grow lights market between 2017 and 2022”

Commercial greenhouses have witnessed increased automation in the last decade, and the concept of controlled environment agriculture (CEA) is being implemented in the greenhouses to maintain optimum growing conditions and obtain a higher yield. The growers are gradually realizing the potential benefits of cultivating plants inside a greenhouse; this has contributed to the development of commercial greenhouses. LED grow lights can be easily programmed and integrated into the CEA setup within a greenhouse. Hence, growers with greater investment capabilities have started shifting toward LED grow lights from conventional lighting systems.

“Grow lights market in RoW to grow at a high rate in the coming years”

The market in RoW is expected to grow at a high rate between 2017 and 2022, owing to the increasing adoption of indoor farming practices especially in the Middle East and South American regions. The urban farming methodologies to meet the increasing demand for food and to mitigate the issues related to water scarcity and extreme temperatures have led to the increasing use of grow lights in this region. The grow lights market for vertical farming applications is expected to grow at a significant rate in this region in the near future. The Middle East and Africa hold a major share of the grow lights market in RoW.

Breakdown of the profile of the primary participants:

  • By Company Type: Tier 1 - 40%, Tier 2 - 35%, and Tier 3 - 25%
  • By Designation: C-Level Executives - 35%, Directors - 25%, and Others - 40%
  • By Region: North America - 45%, APAC - 30%, Europe - 20%, and RoW - 5%

The major key players operating in the grow lights market include Royal Philips (Netherlands), General Electric Company (U.S.), Osram Licht AG (Germany), Gavita Holland B.V. (Netherlands), LumiGrow, Inc. (U.S.), Heliospectra AB (Sweden), Iwasaki Electric Co., Ltd. (Japan), Illumitex, Inc. (U.S.), Hortilux Schreder B.V. (Netherlands), and Sunlight Supply, Inc. (U.S.).

Research Coverage:

  • In this report, various segments such as technology, installation, application, spectrum, and geography of the grow lights market have been covered.
  • It also discusses the key drivers, restraints, opportunities, and challenges pertaining to the market.
  • The report gives a detailed view of the market across four main regions: North America, Europe, APAC, and RoW (comprising South America, the Middle East, and Africa).
  • The Porter’s five forces analysis has been included in the report, along with the description of each of its forces and their impact on the said market.

Reasons to Buy the Report:

  • This report includes the market statistics pertaining to technology, installation, application, and geography.
  • The Porter’s five forces framework has been utilized, along with the value chain analysis, to provide an in-depth insight into the grow lights market.
  • The major drivers, restraints, challenges, and opportunities for the grow lights market have been detailed in this report.
  • Illustrative segmentation, analysis, and forecast for markets based on technology, installation, application, and geography have been conducted to give an overall view of the market.
  • A detailed competitive landscape has been provided that includes key players, revenue of key players, and strategic developments, among others.
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FEATURED COMPANIES

  • Aerofarms
  • Fluence Bioengineering
  • General Electric Company
  • Hortilux Schreder B.V.
  • Indulux Technologies Inc.
  • Osram Licht AG
  • MORE
1 Introduction

    1.1 Objectives of the Study

    1.2 Market Definition

    1.3 Scope of the Study

           1.3.1 Markets Covered

           1.3.2 Years Considered for the Study

    1.4 Currency and Pricing

    1.5 Package and Size

    1.6 Limitations

    1.7 Stakeholders

2 Research Methodology

    2.1 Research Data

           2.1.1 Secondary Data

                    2.1.1.1 Key Data From Secondary Sources

           2.1.2 Primary Data

                    2.1.2.1 Key Data From Primary Sources

                    2.1.2.2 Key Industry Insights

                    2.1.2.3 Breakdown of Primaries

    2.2 Market Size Estimation

           2.2.1 Bottom-Up Approach

           2.2.2 Top-Down Approach

    2.3 Market Breakdown and Data Triangulation

    2.4 Research Assumptions

3 Executive Summary

4 Premium Insights

    4.1 Attractive Growth Opportunities in the Grow Lights Market

    4.2 Grow Lights Market, By Application

    4.3 Grow Lights Market in Europe

    4.4 Share of Leading Countries/Regions in the Grow Lights Market, 2016

    4.5 Grow Lights Market, By Installation

5 Market Overview

    5.1 Introduction

    5.2 Evolution of Grow Light Technologies

    5.3 Market Dynamics

           5.3.1 Drivers

                    5.3.1.1 Growth in Indoor Farming Practices

                    5.3.1.2 Government Initiatives and Regulations to Adopt Energy-Efficient LEDs

                    5.3.1.3 Necessity for Energy-Efficient and Long-Lasting Grow Light Technology

                    5.3.1.4 More Production in Lesser Time

           5.3.2 Restraints

                    5.3.2.1 High Costs of Energy-Efficient and Better Quality Grow Lights

                    5.3.2.2 Requirement of Different Light Spectrums for Different Crops

           5.3.3 Opportunities

                    5.3.3.1 Increase in the Number of Vertical Farming Methods

                    5.3.3.2 Customization for Specific Intensity and Wavelength

                    5.3.3.3 Retrofitting the Traditional Lighting Sources With LED Grow Lights

                    5.3.3.4 Legalization of Growing Marijuana in the U.S.

           5.3.4 Challenges

                    5.3.4.1 Lack of Standard Testing Practices for Assessing the Product Quality of Grow Lights and Their Fixtures

                    5.3.4.2 Low-Quality Light Offered By Artificial Lightings

    5.4 Commonly Used Accessories in Grow Lights

           5.4.1 Bulbs and Fixtures

           5.4.2 Metal Reflectors & Reflective Films

           5.4.3 Ballasts

    5.5 Comparison of Grow Lights

    5.6 Crops Currently Grown Using Grow Lights

           5.6.1 Tomatoes

           5.6.2 Lettuce, Basil, and Mint

           5.6.3 Strawberries

           5.6.4 Cannabis

           5.6.5 African Violets

6 Industry Trends

    6.1 Value Chain Analysis

           6.1.1 HID and FL Grow Lights

           6.1.2 LED Grow Lights

    6.2 Porter’s Five Force Analysis

           6.2.1 Threat of New Entrants

           6.2.2 Threat of Substitutes

           6.2.3 Bargaining Power of Suppliers

           6.2.4 Bargaining Power of Buyers

           6.2.5 Intensity of Competitive Rivalry

7 Spectrums Used for Grow Lights

    7.1 Introduction

    7.2 Partial Spectrum

    7.3 Full Spectrum

8 Grow Lights Market, By Installation

    8.1 Introduction

    8.2 New Installations

    8.3 Retrofit

9 Grow Lights Market, By Technology

    9.1 Introduction

    9.2 High-Intensity Discharge

           9.2.1 High-Pressure Sodium Lamp

           9.2.2 Metal-Halide Lamp

    9.3 Fluorescent Lighting

           9.3.1 T5

           9.3.2 CFL

                    9.3.2.1 Color Type

                               9.3.2.1.1 White

                               9.3.2.1.2 Neutral White

    9.4 LED

           9.4.1 LED Based on Crop Type

                    9.4.1.1 Vegetative

                    9.4.1.2 Food and Flower

    9.5 Other Technologies

           9.5.1 Induction Lighting

           9.5.2 Plasma Lighting

10 Grow Lights Market, By Application

     10.1 Introduction

     10.2 Indoor Farming

     10.3 Vertical Farming

     10.4 Commercial Greenhouse

     10.5 TURF and Landscaping

     10.6 Research

     10.7 Other Applications

11 Grow Lights Market, By Geography

     11.1 Introduction

     11.2 North America

             11.2.1 U.S.

                        11.2.1.1 Some of the Major Manufacturers of Grow Lights are Located in the U.S.

                        11.2.1.2 Rise in Demand for Grow Lights Owing to Vertical Farming and Legalization to Grow Medical Marijuana

             11.2.2 Canada

                        11.2.2.1 Aafc Research to Enhance Nutritional Value in Crops for Benefits of Cultivators

             11.2.3 Mexico

                        11.2.3.1 Suppliers in Mexico Providing Grow Lights

     11.3 Europe

             11.3.1 UK

                        11.3.1.1 Companies in the U.K. Focus on LED Grow Lights

             11.3.2 Germany

                        11.3.2.1 Public-Private Partnership in Germany to Benefit the Grow Lights Market

             11.3.3 Netherlands

                        11.3.3.1 Key Exporter of Horticultural Produce in Europe

             11.3.4 Scandinavia

                        11.3.4.1 Scandinavia to Be the Third Largest Market in Europe By 2022

             11.3.5 Rest of Europe

     11.4 Asia-Pacific

             11.4.1 China

                        11.4.1.1 Grow Lights Market in China is Expected to Grow at A High Rate

             11.4.2 Japan

                        11.4.2.1 World’s Largest Vertical Farm

             11.4.3 Australia

                        11.4.3.1 Australia Being A Major Agricultural Producer is Expected to Boost the Demand for Grow Lights

             11.4.4 New Zealand

                        11.4.4.1 Grow Lights Manufacturers are Increasing Their Presence in New Zealand Gradually

             11.4.5 Rest of APAC

     11.5 Rest of the World

             11.5.1 South America

                        11.5.1.1 Vertical Coffee Farm in Brazil Could Be A Major Market for Grow Lights

             11.5.2 Middle East and Africa

                        11.5.2.1 Cultivation of Strawberries Using LED Grow Lights in UAE

12 Competitive Landscape

     12.1 Introduction

     12.2 Market Ranking Analysis

     12.3 Competitive Situations and Trends

     12.4 Competitive Analysis

             12.4.1 New Product Launches

             12.4.2 Contracts,Partnerships, Agreements,Collaborations, and Projects

             12.4.3 Expansions, Divestments, and Awards

13 Company Profiles

     13.1 Introduction

     13.2 Royal Philips

     13.3 General Electric Company

     13.4 Osram Licht AG

     13.5 Gavita Holland B.V.

     13.6 Lumigrow Inc.

     13.7 Heliospectra Ab.

     13.8 Iwasaki Electric Co., Ltd.

     13.9 Illumitex Inc.

     13.10 Hortilux Schreder B.V.

     13.11 Sunlight Supply Inc.

     13.12 Startup Ecosystem

             13.12.1 Aerofarms

             13.12.2 Fluence Bioengineering

             13.12.3 Emium LLC

             13.12.4 Indulux Technologies Inc.

List of Tables
Table 1 Effects of Different Spectrum of Grow Lights on Plants
Table 2 Comparative Analysis of Different Grow Lights
Table 3 Grow Lights Market, By Installation, 2014-2022 (USD Million)
Table 4 Grow Lights Market for New Installations, By Technology, 2014-2022 (USD Million)
Table 5 Market for New Installations for HID, By Type, 2014-2022 (USD Million)
Table 6 Market for New Installations for FL, By Type, 2014-2022 (USD Million)
Table 7 Grow Lights Market for Retrofits, By Technology, 2014-2022 (USD Million)
Table 8 Market for Retrofit Installations for HID, By Type, 2014-2022 (USD Million)
Table 9 Market for Retrofits for FL, By Type, 2014-2022 (USD Million)
Table 10 Grow Lights Market, By Technology, 2014-2022 (USD Million)
Table 11 HID Grow Lights Market, By Type, 2014-2022 (USD Million)
Table 12 HID Grow Lights Market, By Type of Installation, 2014-2022 (USD Million)
Table 13 HID Grow Lights Market, By Application, 2014-2022 (USD Million)
Table 14 HID Grow Lights Market, By Region, 2014-2022 (USD Million)
Table 15 HPS Grow Lights Market, By Type of Installation, 2014-2022 (USD Million)
Table 16 HPS Grow Lights Market, By Application, 2014-2022 (USD Million)
Table 17 MH Grow Lights Market, By Type of Installation, 2014-2022 (USD Million)
Table 18 MH Grow Lights Market, By Application, 2014-2022 (USD Million)
Table 19 FL Grow Lights Market, By Type, 2014-2022 (USD Million)
Table 20 FL Grow Lights Market, By Type of Installation, 2014-2022 (USD Million)
Table 21 FL Grow Lights Market, By Application, 2014-2022 (USD Million)
Table 22 FL Grow Lights Market, By Geography, 2014-2022 (USD Million)
Table 23 T5 Grow Lights Market, By Type of Installation, 2014-2022 (USD Million)
Table 24 T5 Grow Lights Market, By Application, 2014-2022 (USD Million)
Table 25 CFL Grow Lights Market, By Type of Installation, 2014-2022 (USD Million)
Table 26 CFL Grow Lights Market, By Application, 2014-2022 (USD Million)
Table 27 LED Grow Lights Market, By Type of Installation, 2014-2022 (USD Million)
Table 28 LED Grow Lights Market, By Application, 2014-2022 (USD Million)
Table 29 LED Grow Lights Market, By Region, 2014-2022 (USD Million)
Table 30 Other Grow Lights Market, By Type, 2014-2022 (USD Million)
Table 31 Other Grow Lights Market, By Type of Installation, 2014-2022 (USD Million)
Table 32 Other Grow Lights Market, By Application, 2014-2022 (USD Million)
Table 33 Other Grow Lights Market, By Region, 2014-2022 (USD Million)
Table 34 Induction Grow Lights Market, By Type of Installation, 2014-2022 (USD Million)
Table 35 Induction Grow Lights Market, By Application, 2014-2022 (USD Million)
Table 36 Plasma Grow Lights Market, By Type of Installation, 2014-2022 (USD Million)
Table 37 Plasma Grow Lights Market, By Application, 2014-2022 (USD Million)
Table 38 Grow Lights Market, By Application, 2014-2022 (USD Million)
Table 39 Grow Lights Market for Indoor Farming, By Technology, 2014-2022 (USD Million)
Table 40 Grow Lights Market for Indoor Farming, By Region, 2014-2022 (USD Million)
Table 41 Grow Lights Market for Vertical Farming, By Technology, 2014-2022 (USD Million)
Table 42 Grow Lights Market for Vertical Farming, By Region, 2014-2022 (USD Million)
Table 43 Grow Lights Market for Commercial Greenhouses, By Technology, 2014-2022 (USD Million)
Table 44 Grow Lights Market for Commercial Greenhouses, By Region, 2014-2022 (USD Million)
Table 45 Grow Lights Market for TURF and Landscaping, By Technology, 2014-2022 (USD Million)
Table 46 Grow Lights Market for TURF and Landscaping, By Region, 2014-2022 (USD Million)
Table 47 Grow Lights Market for Research, By Technology, 2014-2022 (USD Million)
Table 48 Grow Lights Market for Research, By Region, 2014-2022 (USD Million)
Table 49 Grow Lights Market for Other Applications, By Technology, 2014-2022 (USD Million)
Table 50 Grow Lights Market for Other Applications, By Region, 2014-2022 (USD Million)
Table 51 Grow Light Market Size, By Region, 2014-2022 (USD Million)
Table 52 Grow Lights Market in North America, By Technology, 2014-2022 (USD Million)
Table 53 Grow Lights Market in North America, By Application, 2014-2022 (USD Million)
Table 54 Grow Lights Market in North America, By Country, 2014-2022 (USD Million)
Table 55 Grow Lights Market in Europe, By Country, 2014-2022 (USD Million)
Table 56 Grow Lights Market in Europe, By Technology, 2014-2022 (USD Million)
Table 57 Grow Lights Market in Europe, By Application, 2014-2022 (USD Million)
Table 58 Grow Lights Market in APAC, By Country, 2014-2022 (USD Million)
Table 59 Grow Lights Market in APAC, By Technology, 2014-2022 (USD Million)
Table 60 Grow Lights Market in APAC, By Application, 2014-2022 (USD Million)
Table 61 Grow Lights Market in RoW, By Country, 2014-2022 (USD Million)
Table 62 Grow Lights Market in RoW, By Technology, 2014-2022 (USD Million)
Table 63 Grow Lights Market in RoW, By Application, 2014-2022 (USD Million)
Table 64 Market Ranking of Top Players in the Grow Lights Market

List of Figures
Figure 1 Segmentation of the Grow Lights Market
Figure 2 Research Design
Figure 3 Market Size Estimation Meth0dology: Bottom-Up Approach
Figure 4 Market Size Estimation Meth0dology: Top-Down Approach
Figure 5 Data Triangulation
Figure 6 Assumptions of the Research Study
Figure 7 Retrofit Installations to Lead the Grow Lights Market During the Forecast Period
Figure 8 Europe to Hold the Largest Share of the Grow Lights Market During the Forecast Period
Figure 9 LED Technology to Hold the Largest Size of the Grow Lights Market By 2022
Figure 10 Market for Vertical Farming to Witness the Highest Growth Between 2017 and 2022
Figure 11 Europe Held the Largest Share of the Grow Lights Market in 2016
Figure 12 Increase in Vertical Farming Practices to Drive the Grow Lights Market
Figure 13 Commercial Greenhouse Applications to Hold the Largest Size of the Market for Grow Lights During the Forecast Period
Figure 14 Netherlands Held the Largest Share of the Grow Lights Market in Europe in 2016
Figure 15 Europe Accounted for A Market Share of ~41% in 2016
Figure 16 Retrofit Installations to Lead the Grow Lights Market Between 2017 and 2022
Figure 17 Evolution of Grow Lights
Figure 18 Increase in Indoor Farming Practices and Government Initiatives to Adopt Energy-Efficient LED Lighting to Drive the Growth of the Grow Lights Market During the Forecast Period
Figure 19 Value Chain Analysis: HID and FL Grow Lights
Figure 20 Value Chain Analysis: LED Grow Lights
Figure 21 Porter’s Five Force Analysis - Grow Light Market
Figure 22 Porter’s Five Force: Impact Analysis
Figure 23 Grow Light Market: Threat of New Entrants
Figure 24 Grow Light Market: Threat of Substitutes
Figure 25 Grow Light Market: Bargaining Power of Suppliers
Figure 26 Grow Light Market: Bargaining Power of Buyers
Figure 27 Grow Light Market: Intensity of Competitive Rivalry
Figure 28 Retrofit Installations to Lead the Grow Lights Market During the Forecast Period
Figure 29 Market for LED for Retrofit Installations to Grow at the Highest Rate Between 2017 and 2022
Figure 30 LED Grow Lights to Hold A Large Market Share By 2022
Figure 31 Retrofit Installation for HID Grow Lights to Hold A Major Market Share During the Forecast Period
Figure 32 Retrofit Installation for Metal Halide Grow Lights Expected to Hold A Large Share Between 2017 and 2022
Figure 33 Grow Lights Market in RoW Region to Grow at Highest CAGR
Figure 34 Retrofit Installation of LED Grow Lights to Witness the Highest Growth Rate During the Forecast Period
Figure 35 Plasma Grow Lights Market to Grow at A Higher CAGR Between 2017 and 2022
Figure 36 Induction Grow Lights for Commercial Greenhouses to Hold the Largest Market Share During the Forecast Period
Figure 37 Grow Lights Market for Vertical Farming Application to Grow at the Highest Rate Between 2017 and 2022
Figure 38 Europe Expected to Hold the Largest Size of the Grow Lights Market During the Forecast Period
Figure 39 Grow Lights Market for TURF and Landscaping Application in APAC to Grow at the Highest CAGR Between 2017 and 2022
Figure 40 Europe to Lead the Market for Other Applications of Grow Lights During the Forecast Period
Figure 41 Grow Lights Market, By Region
Figure 42 Mexico Expected to Register the Highest Growth Rate in Grow Lights Market During the Forecast Period
Figure 43 Europe is Expected to Hold the Largest Share for Grow Lights Market Between 2017 and 2022
Figure 44 Geographic Snapshot of North America, 2016
Figure 45 Grow Lights Market in Germany to Grow at the Highest Rate in Europe
Figure 46 Netherland to Hold the Largest Market Share During the Forecast Period
Figure 47 Geographic Snapshot of Asia-Pacific, 2016
Figure 48 Grow Lights Market in China to Grow at the Highest Rate Between 2017 and 2022
Figure 49 Geographic Snapshot of RoW, 2016
Figure 50 Middle East and Africa to Hold Major Share of the Grow Lights Market During Forecast Period
Figure 51 New Product Launches - Key Strategy Adopted By the Companies Between 2013 and 2017
Figure 52 Market Evolution Framework: Partnerships, Joint Ventures, Agreements, and Contracts Fuelled Growth Between 2014 and 2016
Figure 53 Battle for Market Share: Contracts,Collaborations, Projects, and Partnerships Emerged as Key Strateies Between 2013 and 2017
Figure 54 Geographic Revenue Mix of the Top Players in the Grow Lights Market
Figure 55 Company Snapshot: Royal Philips
Figure 56 SWOT Analysis: Royal Philips
Figure 57 Company Snapshot: General Electric Company
Figure 58 SWOT Analysis: General Electric Company
Figure 59 Company Snapshot: Osram Licht Ag
Figure 60 SWOT Analysis: Osram Licht Ag
Figure 61 SWOT Analysis: Gavita Holland B.V.
Figure 62 SWOT Analysis: Lumigrow Inc.
Figure 63 Company Snapshot: Heliospectra Ab
Figure 64 Company Snapshot: Iwasaki Electric Co., Ltd.
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FEATURED COMPANIES

  • Aerofarms
  • Fluence Bioengineering
  • General Electric Company
  • Hortilux Schreder B.V.
  • Indulux Technologies Inc.
  • Osram Licht AG
  • MORE

The grow lights market is expected to grow at a CAGR of 11.86 % between 2017 and 2022 to be valued at USD 5.11 Billion by 2022. Grow lights, especially LEDs are used in a wide range of farming-related applications, owing to the advantages they offer such as high reliability, low power consumption, and spectral intensity. The increasing commercial greenhouse and vertical farming practices, which require the use of different grow lights, are driving the growth of the overall grow lights market.

This market is segmented on the basis of technology, installation, application, spectrum, and geography. The applications include vertical farming, indoor farming, commercial greenhouse, turf and landscaping, and research. Among all these applications, commercial greenhouse held the largest market share in 2016.

On the basis of technology, the grow lights market has been segmented into high-intensity discharge (HID), fluorescent lighting (FL), light emitting diode (LED), and other lighting technologies (induction and plasma lighting). Traditional lighting technologies such as high-intensity discharge (HID) and fluorescent lighting (FL) are quite popular among commercial growers as well as hobbyists. LED grow light is a new technology in horticultural lighting and is proving to be far more effective than other lighting technologies. Though LED grow lights are expensive, their long-term benefits in terms of energy efficiency make them an ideal option for indoor plant cultivation.

The grow lights market, on the basis of installation, has been segmented into retrofit and new installations. The market for retrofit installations is likely to hold a larger market share in the coming years. In the context of the grow lights market, retrofitting is defined as removing an existing grow light and installing a new one, either of the same lighting technology or of a different lighting technology. New installations are generally characterized by the expansion of existing facilities or setting up of a new facility, such as a new greenhouse or a vertical farm.

Europe was the leading market for grow lights in 2016. Within Europe, the Netherlands is a leading exporter of horticultural produce, grown within its numerous automated commercial greenhouses. The concept of vertical farming is also gaining popularity in Europe. The rising population in Europe is a major driver for the increasing need to practice indoor horticulture in this region. Also, the severe cold in winters and insufficient sunlight in parts of Europe mandates indoor growing with the help of artificial lightings. North America was the second major market for grow lights in 2016. The emergence of vertical farms and the booming market for cannabis cultivation are driving the demand for grow lights in this region.

The initial capital required for the purchase of good-quality LED grow lights is higher compared to that of conventional lighting technologies such as FL and HID. This is mainly because each LED grow light unit contains arrays of LEDs, specially designed for horticultural applications. Often, these units contain different types of LEDs with variation in watts and wavelengths to provide a broad range of light spectrum and intensity for different types of plants. High-powered LED grow lights are available in the market for prices starting from USD 500. A high-powered induction grow light also costs USD 1,300 or more, whereas high-powered plasma grow light costs around USD 3,000. The costs of these grow lights are higher compared to that of a 1,000 watt HPS light, which costs between USD 100 and USD 150 and provides sufficient light for photosynthesis. This significant price difference is restraining the growers to adopt energy-efficient grow light technologies such as LED, induction lighting, and plasma lighting.

Royal Philips (Netherlands) holds a leading position in the grow lights market and is a recognized brand in the lighting and illumination business; it offers a diversified product portfolio for horticultural applications. The company has developed innovative products to cater to the horticultural lighting markets by combining its expertise in lighting technologies with inputs from plant psychologists. Its products come in a variety of shapes, with a range of lumen outputs, which are offered at various price points to suit a wide range of growers from hobbyists to commercial growers. The company mainly focuses on partnering and collaborating with other companies to grow in the LED grow lights market. For instance, Philips partnered with Dummen Orange (Netherlands) in 2016. This partnership is expected to benefit both the companies to exchange information as well as conduct experiments to understand the effects of LED Lighting on a variety of red roses and other crops. Philips offers its horticultural lighting solutions in all the major markets across the world with the help of its global distribution and servicing capabilities.

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  • Aerofarms
  • Emium LLC
  • Fluence Bioengineering
  • Gavita Holland B.V.
  • General Electric Company
  • Heliospectra Ab.
  • Hortilux Schreder B.V.
  • Illumitex Inc.
  • Indulux Technologies Inc.
  • Iwasaki Electric Co., Ltd.
  • Lumigrow Inc.
  • Osram Licht AG
  • Royal Philips
  • Startup Ecosystem
  • Sunlight Supply Inc.
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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