According to IMARC Group’s latest report, titled “Europe Grow Light Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the Europe grow light market size reached US$ 1,151 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 2,173 Million by 2027, exhibiting a growth rate (CAGR) of 11.5% during 2022-2027.
Grow lights are artificial sources of light that promote photosynthesis and stimulate plant growth. They are commonly available in light-emitting diodes (LED), fluorescent, high-pressure sodium (HPS) and high-intensity discharge (HID) variants. They are widely used for plant propagation, providing optimal light and temperature to the plants and controlling various elements, such as intensity and color. Grow lights provide faster harvest cycles, enhanced proximity, minimal heat emissions and an accurate spectrum of light. They are extensively utilized for the cultivation of aquatic plants, horticulture, food production and home gardening.
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Europe Grow Light Market Trends:
The Europe grow light market is primarily being driven by the widespread adoption of indoor farming practices. Grow lights assist in protecting the plants and maintaining an adequate amount of light. Moreover, various technological advancements, such as the integration of the Internet of Things (IoT) with grow lights, are providing a thrust to the market growth. These innovations offer increased remote access capabilities, seamless communication and convenient accessibility. Other factors, including the rising demand for plant-based food products and the enhanced focus of the consumers on sustainable development, are anticipated to drive the market toward growth across the region.
Key Market Segmentation:
The report has segmented the Europe grow light market on the basis of technology, installation type, spectrum, application and region.
Breakup by Technology:
- HID
- LED
- Fluorescent
- Others
Breakup by Installation Type:
- New Installations
- Retrofit Installations
Breakup by Spectrum:
- Full-Spectrum
- Partial Spectrum
Breakup by Application:
- Indoor Farming
- Vertical Farming
- Commercial Greenhouse
- Turf and Landscaping
- Others
Breakup by Country:
- Germany
- France
- United Kingdom
- Italy
- Spain
- Others
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
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