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Market Overview:
The LED Grow Light Market size is estimated to reach $6.4 Billion by 2031, growing at a CAGR of 25.9% during the forecast period 2025-2031, according to a recent report published by IndustryARC, titled, “LED Grow Light Market - By Product Type (Low Power Products (<300W), High Power Products (≥300W)), By Spectrum (Full Spectrum, Partial Spectrum), By Installation Type (New Installations, Retrofit Installations), By Form Factor (Vertical Farming LED Grow Lights, Inter-lighting LED Grow Lights, Top-lighting LED Grow Lights), By Application (Indoor Farming, Commercial Greenhouses, Vertical Farming, Turf and Landscaping, Research, Others), By Sales Channel (Offline, Online), By Geography - Opportunity Analysis & Industry Forecast, 2025-2031”
The LED grow light market is booming, driven by indoor and vertical farming, government support, and advanced LED technologies. Rising adoption of Controlled Environment Agriculture (CEA) and a focus on energy efficiency are fueling global market growth.
APAC dominates the market in 2024:
APAC dominates the LED Grow Light Market with a market share of 38% in 2024. Government policies and investments significantly propel the LED grow light market by promoting sustainable agriculture and energy efficiency through subsidies, regulations, and funding for controlled-environment agriculture (CEA). In October 2024, China announced the launch of the 2024-2028 smart agriculture action plan with the focus on accelerating the digital transformation of all aspects of its agricultural industry to increase domestic food production. Through these combined actions, APAC secures its position as the leading force in the LED grow light market.
LED Grow Light Market: Key Takeaways
Rise In Indoor Farming
The rise of indoor farming is significantly boosting the demand for LED grow lights. This trend is driven by the need for controlled growing environments, technological advancements in lighting solutions, and the pursuit of sustainable agricultural practices. TSBC, the UK's largest greenhouse strawberry grower, will produce its first winter strawberries using new LED technology after a $7.32 million investment. The farm aims to yield 600,000 punnets from 175,000 plants. As indoor farming continues to expand globally, the LED grow light market is poised for substantial growth, offering innovative solutions to modern agricultural challenges.
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Rising adoption of controlled environment agriculture
The rising adoption of controlled environment agriculture (CEA) is a significant market driver for the LED grow light market, fueled by its efficacy, cost-effectiveness, and suitability for diverse types of plant. CEA, encompassing indoor farming, vertical farming, and advanced greenhouses, addresses global challenges like shrinking arable land and climate unpredictability, with LED grow lights providing high-efficacy illumination critical for plant growth in controlled settings. According to Valoya, LEDs over the long term offer up to 10-25% in energy savings compared to using HPS. The rising adoption of Controlled Environment Agriculture is a pivotal factor propelling the LED grow light market forward. As technological advancements continue and the demand for sustainable, efficient farming practices grows, the integration of LED lighting solutions in CEA is poised to expand, offering promising prospects for the agriculture industry in future.
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Recent Development
• In September 2024, Climalux developed a new full-LED grow light featuring SMD LEDs on a single engine, resulting in higher light output and versatile spectrum options for growers.
• In January 2023, Polymatech Electronics, an Indian opto-semiconductor manufacturer, launched new horticulture LEDs- Ravaye full-spectrum packages/modules and monochromatic LEDs. Designed for professional greenhouse and vertical farming, these products offer a broader spectrum for improved plant growth, better environments, and lower lighting costs.
LED Grow Light Market: Competitive Landscape
Key companies profiled in the LED Grow Light Market are Signify Holding, Crecer Lighting, Vivosun, Valoya, Heliospectra, California Lightworks, Ams-OSRAM AG, Gavita International B.V., Cree LED, Hortilux Schréder and others.
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Micro Farming Market - The global Micro Farming Market size is estimated to reach $338 billion by 2030, growing at a CAGR of 4.7% during the forecast period 2024-2030. The primary reasons driving the micro farming market are rising urbanization worldwide and the growing popularity of micro farming due to the availability of fresh healthy goods at competitive pricing and cheaper transportation costs
Indoor LED Screen Market - Indoor LED Screen Market Size is forecast to reach $ 5691 Million by 2030, at a CAGR of 6.22% during forecast period 2024-2030. Globally, high quality picture images displayed by the indoor LED screens and their low operational costs are the prime growth drivers of indoor LED screen market.
About IndustryARC™:
IndustryARC primarily focuses on Market Research and Consulting Services specific to Cutting Edge Technologies and Newer Application segments of the market. The company’s Custom Research Services are designed to provide insights into the constant flux in the global demand-supply gap of markets.
IndustryARC’s goal is to provide the right information required by the stakeholder at the right point in time, in a format that assists an intelligent and informed decision-making process.
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IndustryARC
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