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

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

Report Format: PDF+Excel | Report ID: SR112023A4305
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Market Overview:

The India grow light market size reached US$ 80.4 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 173.6 Million by 2028, exhibiting a growth rate (CAGR) of 13.5% during 2023-2028.

Grow lights are artificial light sources utilized for stimulating plant growth. They emit electromagnetic radiation in the visible light spectrum, which acts as sunlight for photosynthesis. Grow lights are commercially available in fluorescent, high-intensity discharge (HID), high-pressure sodium (HPS), light-emitting diodes (LED) and incandescent variants. The different elements of these lights, such as color, intensity, and temperature, can be controlled to mimic outdoor settings. This creates an ideal environment for plants to grow, thus resulting in the improved crop yield. Consequently, grow lights are extensively utilized in home gardening, horticulture, commercial indoor gardening, food production, and plant propagation applications.

The grow light market in India is primarily being driven by a significant rise in the population and the rapid establishment of vegetable factories in the country. In addition, the emerging trend of vertical, rooftop, and commercial greenhouse farming is further contributing to the market growth. Moreover, grow lights offer several benefits, including versatility, color quality, energy-efficiency, and cost-effectiveness, which is promoting the widescale utilization of these lights across the agriculture sector. Furthermore, continuous investments in research and development (R&D) activities to promote innovations in agricultural science and technology are acting as another major growth-inducing factor. Apart from this, the increasing deployment of solar power-based agricultural plants is creating a positive outlook for the market across the country.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the India grow light market report, along with forecasts at the country and regional 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 Region:

  • North India
  • West and Central India
  • South India
  • East India
     

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, Region
Region Covered North India, West and Central India, South India, East India
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2299
Five User License: US$ 3399
Corporate License: US$ 4499
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 India grow light market was valued at US$ 80.4 Million in 2022.

We expect the India grow light market to exhibit a CAGR of 13.5% during 2023-2028.

The rising adoption of vertical and indoor farming practices, along with the increasing demand for grow lights, as they aid in maintaining the optimal yield and plant quality, is primarily driving the India grow light market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across the nation, resulting in the temporary closure of numerous manufacturing units for grow lights.

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

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

Based on the spectrum, the India grow light market has been segregated into full-spectrum and partial spectrum, where full-spectrum currently exhibits a clear dominance in the market.

Based on the application, the India grow light market can be bifurcated into indoor farming, vertical farming, commercial greenhouse, turf and landscaping, and others. Currently, commercial greenhouse holds the largest market share.

On a regional level, the market has been classified into North India, West and Central India, South India, and East India, where North India currently dominates the India grow light market.

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