Europe Grow Light Market Share, Size, Growth, Opportunity and Forecast 2023-2028

Europe Grow Light Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Report Format: PDF+Excel | Report ID: SR112023A4321

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Market Overview:

The Europe grow light market size reached US$ 1,294 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 2,394 Million by 2028, exhibiting a growth rate (CAGR) of 11.1% during 2023-2028.

Report Attribute	Key Statistics
Base Year	2022
Forecast Years	2023-2028
Historical Years	2017-2022
Europe Grow Light Market Size in 2022	US$ 1,294 Million
Europe Grow Light Market Forecast in 2028	US$ 2,394 Million
Europe Grow Light Market Growth Rate 2023-2028	11.1%

Grow lights are artificial lights that emit electromagnetic spectrum to promote photosynthesis. Grow lights are commercially available in fluorescent, high-intensity discharge (HID), high-pressure sodium (HPS), light-emitting diodes (LED) and incandescent variants. They aim to mimic outdoor settings by controlling different light elements, such as color, intensity, and temperature. This creates an ideal environment for plants to grow, thereby resulting in an improved crop yield. Consequently, grow lights are extensively utilized in home gardening, horticulture, commercial indoor gardening, food production, and plant propagation applications.

Europe grow light market is majorly being driven by the escalating demand for plant-based food products, these lights are being extensively utilized to facilitate agricultural produce. The enhanced focus on sustainable development is acting as another major growth-inducing factor. Moreover, there has been a significant shift toward vertical and indoor farming, which, in turn, is catalyzing the utilization of grow lights across various settings. The large-scale integration of grow lights with the Internet of Things (IoT) is further creating a positive outlook for the market in the region.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the Europe grow light market report, along with forecasts at the regional and country level from 2023-2028. Our report has categorized the market based on technology, installation type, spectrum and application.

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

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2022
Historical Period	2017-2022
Forecast Period	2023-2028
Units	US$ Million
Segment Coverage	Technology, Installation Type, Spectrum, Application, Country
Countries Covered	Germany, France, United Kingdom, Italy, Spain, Others
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 2699 Five User License: US$ 3699 Corporate License: US$ 4699
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report

The Europe grow light market was valued at US$ 1,294 Million in 2022.

We expect the global geospatial analytics market to exhibit a CAGR of 11.1% during 2023-2028.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several European nations resulting in the temporary closure of numerous end-use industries for the grow lights.

The rising focus on sustainable development, along with the growing adoption of grow lights in vertical gardening, horticulture, commercial indoor gardening, etc., is primarily driving the Europe grow light market.

Based on the technology, the Europe grow light market has been segmented into HID, LED, Fluorescent, and others. Among these, LED currently exhibits a clear dominance in the market.

Based on the installation type, the Europe grow light market can be divided into new installations and retrofit installations. Currently, new installations account for the majority of the total market share.

Based on spectrum, the Europe grow light market has been categorized into full-spectrum and partial spectrum, where full-spectrum currently holds the largest market share.

Based on the application, the Europe grow light market can be bifurcated into indoor farming, vertical farming, commercial greenhouse, turf and landscaping, and others. Currently, commercial greenhouse exhibits a clear dominance in the market.

On a regional level, the market has been classified into Germany, France, United Kingdom, Italy, Spain, and others, where Germany currently dominates the Europe grow light market.

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