United States Grow Light Market Share, Size and Forecast 2023-2028

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

Report Format: PDF+Excel | Report ID: SR112023A4322

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Market Overview:

The United States grow light market size reached US$ 1,037.3 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,961.3 Million by 2028, exhibiting a growth rate (CAGR) of 10.9% during 2023-2028.

Grow lights, or plant lights, refer to artificial lights that emit electromagnetic spectrum to promote photosynthesis. It is 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 also 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.

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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The grow light market in the United States is majorly being driven by the rising trend of urban farming across the country. In addition to this, growing environmental consciousness is also contributing to the market growth. Since grow light is an eco-friendly technique of facilitating agricultural produce, it is increasingly being adopted as a sustainable way of cultivation. Moreover, there is a growing inclination toward indoor farming, which, in turn, is catalyzing the product demand significantly. Associated benefits, including versatility, color quality, energy efficiency, and cost-effectiveness, are also promoting the increasing utilization of grow lights across the agriculture sector. Moreover, various technological advancements, such as the development of smart grow lights integrated with the Internet of Things (IoT), are acting as another major growth-inducing factor. Other factors, such as the increasing establishments of solar power-based agricultural plants, are creating a positive outlook for the market further in the country.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the United States 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:

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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:

Northeast
Midwest
South
West

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	Northeast, Midwest, South, West
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 United States grow light market was valued at US$ 1,037.3 Million in 2022.

We expect the United States grow light market to exhibit a CAGR of 10.9% during 2023-2028.

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 end-use industries for grow lights.

The growing environmental consciousness, along with the increasing adoption of eco-friendly technique, such as grow light for facilitating agricultural produce, is primarily driving the United States grow light market.

Based on the technology, the United States 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 United States 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 United States 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 United States 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 Northeast, Midwest, South, and West, where South currently dominates the United States grow light market.

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