According to the latest report by IMARC Group, titled “India Grow Light Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” The India grow light market reached a value of US$ 70.5 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 155.8 Million by 2027, exhibiting a CAGR of 14.4% during 2022-2027.
Grow lights, also known as plant lights, are artificial light sources that promote photosynthesis and accelerate growth in plants. These lights are used for growing plants in conditions where natural light is insufficient or not available. Grow lights also control different elements, such as color, temperature and intensity of the lights, to mimic outdoor settings for improved crop yield.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Market Trends:
The India grow light market is primarily driven by its increasing utilization in the agriculture sector. Grow lights are versatile, energy-efficient, and cost-effective, which helps in commercial greenhouse farming. They also aid in maintaining the optimal yield and plant quality to meet the rising food demand across the country. Besides this, the rising investments by the Government of India in research and development (R&D) activities to promote innovations in agricultural science are also escalating the demand for grow lights. Moreover, the development of smart grow lights integrated with the Internet of Things (IoT) is another major growth-inducing factor that is expected to provide a positive outlook to the market in the near future.
India Grow Light Market 2022-2027 Analysis and Segmentation:
The report has segmented the market on the basis on region, technology, installation type, spectrum, 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
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