Plant Factory Grow Lights Market - Global Industry Analysis

Plant Factory Grow Lights Market By Technology (High Intensity Discharge, Fluorescent Lighting, LED And Others) For Vertical Farming, Indoor Farming, Commercial Greenhouse, Turf And Landscaping, Research And Other Applications. Global Industry Perspective, Comprehensive Analysis, And Forecast, 2020 – 2028

Published Date: 28-Jun-2021 Category: Technology & Media Report Format : PDF Pages: 180 Report Code: ZMR-1890 Status : Published

The global Plant Factory Grow Lights market accounted for USD 4.3 Billion in 2020 and is expected to reach USD 7.9 Billion by 2028, growing at a CAGR of around 7.7% between 2021 and 2028.

Description

Global Plant Factory Grow Lights Market Size Analysis

The global Plant Factory Grow Lights market accounted for USD 4.3 Billion in 2020 and is expected to reach USD 7.9 Billion by 2028, growing at a CAGR of around 7.7% between 2021 and 2028.   

The global plant factory growth lights market is predicted to develop at an interesting rate. The need for organic vegetables and plants has increased everywhere on the planet while the comparative supply has not been capable of matching the need. This has resulted in the development of the plant factory system, which is an automatic farm with enhanced techs and may work 24 hours each day without relying upon climate. This boosted the plant factory grow lights market considerably. Government regulations and initiatives to simply accept energy-efficient LEDs are often among the main boosters for the worldwide plant factory grow lights market. The plant factory grows lights market creates more yields in less time, which may be one of the catalysts for the worldwide plant factory grow lights market.

Various players launching new products also are set to foster the event of the plant factory grow lights market. for instance, in June 2018, the German-based global lighting firm Osram started supplying NASA (National Aeronautics and Space Administration) with a customized model of Phytofy RL (its linked horticulture research lighting system,). The unique product will employ smart grow lighting software to reinforce the lighting technology employed in Food Production by NASA. Plant factories are believed to be the long-term farming also as plant factories grow lights market. Increasing techniques like vertical farming and therefore the rising implementation of recent agriculture have elevated the investment & interest in related technology and plant factories. Additionally, to the present, it's believed that plant factory offers more competence owing to offering food for the growing population within the world.  

COVID-19 Impact Analysis

The grow lights manufactured by companies are purchased by several stakeholders for various applications. COVID-19 not only impacted the operations of the varied grow lights manufacturers companies but also affected the companies of their suppliers & distributers and had stopped the production resulting in disruption across the whole supply chain. The autumn in export shipments and slow domestic demand for grow lights as compared to pre-COVID-19 levels are additionally expected to negatively impact and slightly stagnate the demand for grow lights briefly term. The key companies operating during this market, have also witnessed the impact of the pandemic in their order intakes for grow lights during the primary half 2020.

Growth Factors

The driving factors for plant factories and grow lights market are the increasing demand for the power to grow food locally and consistently, the paucity of space for farming, especially in cities, and therefore the got to increase the yield per unit area without harming the environment. Governments also are encouraging plant factories and grow lights for improving the assembly. The opportunities during this market are varied and may range from technological advancement in grow lights, combined use of natural lighting with artificial lighting, development of a solar energy-based plant factory to constructing multiple level plant factories which might further reduce space requirement.

Report Scope:  

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Segment Analysis Preview  

The global plant factory growth lights market is divided into technology, application, and regions. The application sector of plant factory grows lights market includes indoor farming, vertical farming, landscaping & turf, commercial greenhouse, research, and others. The technology sector of plant factory grows lights market includes fluorescent lighting, high-intensity discharge, and others including led.

Based on application, the vertical farming segment of the grow lights market is predicted to register the very best CAGR growth during the forecast period. Vertical farms are being set up in several parts of the world; China and Japan are the leading investors in vertical farm projects. Several established corporations have started providing funds to encourage entrepreneurs to determine vertical farms. In May 2018, Signify (Netherlands) announced its collaboration with Travaglini FarmTech, a replacement business division of Travaglini S.p.a (Italy), to develop the primary vertical farm plant lab of Italy in Milan. Also, General power company (US), a serious provider of grow light systems, is partnering with Mirai, Inc. (Japan) in establishing a sequence of vertical farms across multiple cities in Japan. Such developments in vertical farming are likely to spice up the demand for grow lights within the coming years.

Based on region, Europe is projected to register the largest market share of the grows lights market during the forecast period. The expansion of the market in this region is often attributed to the very fact that the region has the strongest economies in the world, alongside flourishing industries that cause increased capital investment capabilities. This region has been using grow light systems for the past few decades to grow plants in commercial greenhouses.  The population of Europe has expanded rapidly in recent times, and countries are importing fruits and vegetables in frozen form from external markets in Africa and Asia. Indoor horticulture is gaining rapid momentum in some major countries like Netherlands, France, and Belgium during this region to get fresh produce from locally cultivated farms. This factor is predicted to get massive demand for to grow light systems within the near future.
 

Key Market Players & Competitive Landscape

The major players that comprised the plant factory grow lights market are Daystar, APL engineered material, Siemens Philips horticulture Lamps, Advanced Lighting Technologies, Hydrofarm, General Electric, Sun System, Iwasaki Electric, Taiwan Floriculture Exports Association, and others. These players are set to foster the development of the plant factory grow lights market.

The global Plant Factory Grow Lights Market is segmented as follows:

By Application

  • Vertical Farming
  • Indoor Farming
  • Commercial Greenhouse
  • Turf and Landscaping
  • Research
  • Others

By Technology

  • High-Intensity Discharge
  • Fluorescent Lighting
  • LED
  • Others

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter No. 1 Introduction
    • 1.1. Report Description
      • 1.1.1. Purpose of the Report
      • 1.1.2. USP & Key Offerings
    • 1.2. Key Benefits for Stakehulders
    • 1.3. Target Audience
    • 1.4. Report Scope
  • Chapter No. 2 Executive Summary
    • 2.1. Key Findings
      • 2.1.1. Top Investment Pockets
        • 2.1.1.1. Market Attractiveness Analysis, By Application
        • 2.1.1.2. Market Attractiveness Analysis, By Technology
        • 2.1.1.3. Market Attractiveness Analysis, By Region
    • 2.2. Market Snapshot
    • 2.3. Global Plant Factory Grow Lights Market, 2016 – 2028 (USD Billion)
    • 2.4. Insights from Primary Respondents
  • Chapter No. 3 COVID 19 Impact Analysis
    • 3.1. Impact Assessment of COVID-19 Pandemic, By Region
      • 3.1.1. North America
      • 3.1.2. Europe
      • 3.1.3. Asia Pacific
      • 3.1.4. Latin America
      • 3.1.5. The Middle-East and Africa
    • 3.2. Quarterly Market Revenue and Forecast by Region 2020 & 2021
    • 3.3. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Billion)
    • 3.4. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Billion)
    • 3.5. Key Strategies Undertaken by Companies to Tackle COVID-19
      • 3.5.1. Company Quarterly Revenue Analysis, 2019 & 2020
    • 3.6. Short Term Dynamics
    • 3.7. Long Term Dynamics
  • Chapter No. 4 Plant Factory Grow Lights Market – Application Segment Analysis
    • 4.1. Overview
      • 4.1.1. Market Revenue Share, By Application, 2020 & 2028
    • 4.2. Vertical Farming
      • 4.2.1. Market Size and Forecast, By Region (USD Billion)
      • 4.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.3. Indoor Farming
      • 4.3.1. Market Size and Forecast, By Region (USD Billion)
      • 4.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.3.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.4. Commercial Greenhouse
      • 4.4.1. Market Size and Forecast, By Region (USD Billion)
      • 4.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.4.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.5. Others
      • 4.5.1. Market Size and Forecast, By Region (USD Billion)
      • 4.5.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.5.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 5 Plant Factory Grow Lights Market – Technology Segment Analysis
    • 5.1. Overview
      • 5.1.1. Market Revenue Share, By Application, 2020 & 2028
    • 5.2. High Intensity Discharge
      • 5.2.1. Market Size and Forecast, By Region (USD Billion)
      • 5.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.3. Fluorescent Lighting
      • 5.3.1. Market Size and Forecast, By Region (USD Billion)
      • 5.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.3.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.4. LED
      • 5.4.1. Market Size and Forecast, By Region (USD Billion)
      • 5.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.4.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.5. Others
      • 5.5.1. Market Size and Forecast, By Region (USD Billion)
      • 5.5.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.5.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 6 Plant Factory Grow Market – Region Segment Analysis
    • 6.1. Overview
      • 6.1.1. Global Market Revenue Share, By Region, 2020 & 2028
      • 6.1.2. Global Market Revenue, By Region, 2016 – 2028 (USD Billion)
    • 6.2. North America
      • 6.2.1. North America Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.2.2. North America Market Revenue, By Application, 2016 – 2028
      • 6.2.3. North America Market Revenue, By Technology, 2016 – 2028
      • 6.2.5. U.S.
        • 6.2.5.1. U.S. Market Revenue, By Application, 2016 – 2028
        • 6.2.5.2. U.S. Market Revenue, By Technology, 2016 – 2028
      • 6.2.6. Canada
        • 6.2.6.1. Canada Market Revenue, By Application, 2016 – 2028
        • 6.2.6.2. Canada Market Revenue, By Technology, 2016 – 2028
      • 6.2.7. Mexico
        • 6.2.7.1. Mexico Market Revenue, By Application, 2016 – 2028
        • 6.2.7.2. Mexico Market Revenue, Technology, 2016 – 2028
    • 6.3. Europe
      • 6.3.1. Europe Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.3.2. Europe Market Revenue, By Application, 2016 – 2028
      • 6.3.3. Europe Market Revenue, Technology, 2016 – 2028
      • 6.3.5. Germany
        • 6.3.5.1. Germany Market Revenue, By Application, 2016 – 2028
        • 6.3.5.2. Germany Market Revenue, Technology, 2016 – 2028
      • 6.3.6. France
        • 6.3.6.1. France Market Revenue, By Application, 2016 – 2028
        • 6.3.6.2. France Market Revenue, Technology, 2016 – 2028
      • 6.3.7. U.K.
        • 6.3.7.1. U.K. Market Revenue, By Application, 2016 – 2028
        • 6.3.7.2. U.K. Market Revenue, Technology, 2016 – 2028
      • 6.3.8. Italy
        • 6.3.8.1. Italy Market Revenue, By Application, 2016 – 2028
        • 6.3.8.2. Italy Market Revenue, Technology, 2016 – 2028
      • 6.3.9. Spain
        • 6.3.9.1. Spain Market Revenue, By Application, 2016 – 2028
        • 6.3.9.2. Spain Market Revenue, By Technology, 2016 – 2028
      • 6.3.10. Rest of Europe
        • 6.3.10.1. Rest of Europe Market Revenue, By Application, 2016 – 2028
        • 6.3.10.2. Rest of Europe Market Revenue, By Technology, 2016 – 2028
    • 6.4. Asia Pacific
      • 6.4.1. Asia Pacific Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.4.2. Asia Pacific Market Revenue, By Application, 2016 – 2028
      • 6.4.3. Asia Pacific Market Revenue, Technology, 2016 – 2028
      • 6.4.5. China
        • 6.4.5.1. China Market Revenue, By Application, 2016 – 2028
        • 6.4.5.2. China Market Revenue, By Technology, 2016 – 2028
      • 6.4.6. Japan
        • 6.4.6.1. Japan Market Revenue, By Application, 2016 – 2028
        • 6.4.6.2. Japan Market Revenue, By Technology, 2016 – 2028
      • 6.4.7. India
        • 6.4.7.1. India Market Revenue, By Application, 2016 – 2028
        • 6.4.7.2. India Market Revenue, By Technology, 2016 – 2028
      • 6.4.8. South Korea
        • 6.4.8.1. South Korea Market Revenue, By Application, 2016 – 2028
        • 6.4.8.2. South Korea Market Revenue, By Technology, 2016 – 2028
      • 6.4.9. South-East Asia
        • 6.4.9.1. South-East Asia Market Revenue, By Application, 2016 – 2028
        • 6.4.9.2. South-East Asia Market Revenue, By Technology, 2016 – 2028
      • 6.4.10. Rest of Asia Pacific
        • 6.4.10.1. Rest of Asia Pacific Market Revenue, By Application, 2016 – 2028
        • 6.4.10.2. Rest of Asia Pacific Market Revenue, By Technology, 2016 – 2028
    • 6.5. Latin America
      • 6.5.1. Latin America Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.5.2. Latin America Market Revenue, By Application, 2016 – 2028
      • 6.5.3. Latin America Market Revenue, By Technology, 2016 – 2028
      • 6.5.5. Brazil
        • 6.5.5.1. Brazil Market Revenue, By Application, 2016 – 2028
        • 6.5.5.2. Brazil Market Revenue, By Technology, 2016 – 2028
      • 6.5.6. Argentina
        • 6.5.6.1. Argentina Market Revenue, By Application, 2016 – 2028
        • 6.5.6.2. Argentina Market Revenue, By Technology, 2016 – 2028
      • 6.5.7. Rest of Latin America
        • 6.5.7.1. Rest of Latin America Market Revenue, By Application, 2016 – 2028
        • 6.5.7.2. Rest of Latin America Market Revenue, By Technology, 2016 – 2028
    • 6.6. The Middle-East and Africa
      • 6.6.1. The Middle-East and Africa Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.6.2. The Middle-East and Africa Market Revenue, By Application, 2016 – 2028
      • 6.6.3. The Middle-East and Africa Market Revenue, By Technology, 2016 – 2028
      • 6.6.5. GCC Countries
        • 6.6.5.1. GCC Countries Market Revenue, By Application, 2016 – 2028
        • 6.6.5.2. GCC Countries Market Revenue, By Technology, 2016 – 2028
      • 6.6.6. South Africa
        • 6.6.6.1. South Africa Market Revenue, By Application, 2016 – 2028
        • 6.6.6.2. South Africa Market Revenue, By Technology, 2016 – 2028
      • 6.6.7. Rest of Middle-East Africa
        • 6.6.7.1. Rest of Middle-East Africa Market Revenue, By Application, 2016 – 2028
        • 6.6.7.2. Rest of Middle-East Africa Market Revenue, By Technology, 2016 – 2028
  • Chapter No. 7: Plant Factory Grow Lights Market – Industry Analysis
    • 7.1. Introduction
    • 7.2. Market Drivers
      • 7.2.1. Driving Factor 1 Analysis
      • 7.2.2. Driving Factor 2 Analysis
    • 7.3. Market Restraints
      • 7.3.1. Restraining Factor Analysis
    • 7.4. Market Opportunities
      • 7.4.1. Market Opportunity Analysis
    • 7.5. Porter’s Five Forces Analysis
    • 7.6. PEST Analysis
    • 7.7. Regulatory Landscape
    • 7.8. Technology Landscape
    • 7.9. Regional Market Trends
      • 7.9.1. North America
      • 7.9.2. Europe
      • 7.9.3. Asia Pacific
      • 7.9.4. Latin America
      • 7.9.5. The Middle-East and Africa
    • 7.10. Pricing Analysis
    • 7.11. Value Chain Analysis
    • 7.12. Downstream Buyers
    • 7.13. Distributors/Traders List
  • Chapter No. 8: Competitive Landscape
    • 8.1. Company Market Share Analysis – 2019
      • 8.1.1. Global Plant Factory Grow Lights Market: Company Market Share, 2019
      • 8.1.2. Global Plant Factory Grow Lights Market, Company Market Revenue, 2016 – 2019 (USD Billion)
      • 8.1.3. Global Plant Factory Grow Lights Market, Company Y-o-Y Growth, 2017 – 2019 (%)
      • 8.1.4. Global Plant Factory Grow Lights Market: Radar Determinant Chart, 2019
    • 8.2. Strategic Developments
      • 8.2.1. Acquisitions & Mergers
      • 8.2.2. New Product Launch
      • 8.2.3. Regional Expansion
    • 8.3. Company Strategic Developments – Heat Map Analysis
  • Chapter No. 9: Company Profiles
    • 9.1. APL engineered material
      • 9.1.1. Company Overview
      • 9.1.2. Key Executives
      • 9.1.3. Product Portfolio
      • 9.1.4. Financial Overview
      • 9.1.5. Operating Business Segments
      • 9.1.6. Business Performance
      • 9.1.7. Recent Developments
    • 9.2. Daystar
    • 9.3 Advanced lighting Technulogies
    • 9.4 Siemens Philips horticulture Lamps
    • 9.5 General Electric
    • 9.7 Hydrofarm
    • 9.8 Iwasaki Electric
    • 9.9 Sun System
    • 9.10 Taiwan Floriculture Exports Association.
  • Chapter No. 10: Marketing Strategy Analysis
    • 10.1. Marketing Channel
    • 10.2. Direct Marketing
    • 10.3. Indirect Marketing
    • 10.4. Marketing Channel Development Trends
    • 10.5. Economic/Pulitical Environmental Change
  • Chapter No. 11: Research Methodology
    • 11.1. Research Methodology
    • 11.2. Phase I - Secondary Research
    • 11.3. Phase II - Data Modeling
      • 11.3.1. Company Share Analysis Model
      • 11.3.2. Revenue Based Modeling
    • 11.4. Phase III - Primary Research
    • 11.5. Research Limitations
      • 11.5.1. Assumptions

Table Of Figures

List of Figures 

FIG NO. 1. Market Attractiveness Analysis, By Application
FIG NO. 2. Market Attractiveness Analysis, By Technology
FIG NO. 3. Market Attractiveness Analysis, By Region
FIG NO. 4. Global Plant Factory Grow Lights Market Revenue, 2016 – 2028 (USD Billion)
FIG NO. 5. Impact of COVID-19 Pandemic in North America Countries
FIG NO. 6. Market Revenue Share, By Application, 2020 & 2028 
FIG NO. 7. Global Plant Factory Grow Lights Market for Vertical Farming, Revenue (USD Billion) 2016 – 2028
FIG NO. 8. Comparative Revenue Analysis of Plant Factory Grow Lights Market for Vertical Farming, By Country, 2020 & 2028
FIG NO. 9. Global Plant Factory Grow Lights Market for Indoor Farming, Revenue (USD Billion) 2016 – 2028
FIG NO. 10. Comparative Revenue Analysis of Plant Factory Grow Lights Market for Indoor Farming, By Country, 2020 & 2028
FIG NO. 9. Global Plant Factory Grow Lights Market for Commercial Greenhouse, Revenue (USD Billion) 2016 – 2028
FIG NO. 10. Comparative Revenue Analysis of Plant Factory Grow Lights Market for Commercial Greenhouse, By Country, 2020 & 2028
FIG NO. 11. Global Plant Factory Grow Lights Market for Others, Revenue (USD Billion) 2016 – 2028
FIG NO. 12. Comparative Revenue Analysis of Plant Factory Grow Lights Market for Others, By Country, 2020 & 2028
FIG NO. 13. Market Revenue Share, By Technology, 2020 & 2028
FIG NO. 14. Global Plant Factory Grow Lights Market for High Intensity Discharge, Revenue (USD Billion) 2016 – 2028
FIG NO. 15. Comparative Revenue Analysis of Plant Factory Grow Lights Market for High Intensity Discharge, By Country, 2020 & 2028 
FIG NO. 16. Global Plant Factory Grow Lights Market for Fluorescent Lighting, Revenue (USD Billion) 2016 – 2028
FIG NO. 17. Comparative Revenue Analysis of Plant Factory Grow Lights Market for Fluorescent Lighting, By Country, 2020 & 2028
FIG NO. 18. Global Plant Factory Grow Lights Market for LED, Revenue (USD Billion) 2016 – 2028 
FIG NO. 19. Comparative Revenue Analysis of Plant Factory Grow Lights Market for LED, By Country, 2020 & 2028
FIG NO. 20. Global Plant Factory Grow Lights Market for Others, Revenue (USD Billion) 2016 – 2028
FIG NO. 21. Comparative Revenue Analysis of Plant Factory Grow Lights Market for Others, By Country, 2020 & 2028
FIG NO. 22. Global Plant Factory Grow Lights Market Revenue Share, By Region, 2020 & 2028
FIG NO. 23. North America Plant Factory Grow Lights Market Revenue, 2016 - 2028 (USD Billion)
FIG NO. 24. Porter’s Five Forces Analysis for Global Plant Factory Grow Lights Market
FIG NO. 25. PEST Analysis for Global Plant Factory Grow Lights Market
FIG NO. 26. Pricing Analysis for Global Plant Factory Grow Lights Market
FIG NO. 27. Value Chain Analysis for Global Plant Factory Grow Lights Market
FIG NO. 28. Company Share Analysis, 2019
FIG NO. 29. Radar Determinant Chart, 2019
FIG NO. 30. Company Strategic Developments – Heat Map Analysis
FIG NO. 31. The Sherwin-Williams Company Business Segment Revenue Share, 2020 (%)
FIG NO. 32. The Sherwin-Williams Company Geographical Segment Revenue Share, 2020 (%)
FIG NO. 33. Market Channels
FIG NO. 34. Marketing Channel Development Trend
FIG NO. 35. Growth in World Gross Product, 2008-2018
FIG NO. 36. Research Methodology – Detailed View
FIG NO. 37. Research Methodology
 


Table Of Tables

List of Tables 

TABLE NO. 1. Global Plant Factory Grow Lights Market: Snapshot
TABLE NO. 2. Quarterly Plant Factory Grow Lights Market Revenue by Region, 2020
TABLE NO. 3. Quarterly Plant Factory Grow Lights Market Revenue Forecast by Region, 2021
TABLE NO. 4. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Billion) 
TABLE NO. 5. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Billion) 
TABLE NO. 6. Global Plant Factory Grow Lights Market for Vertical Farming, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 7. Global Plant Factory Grow Lights Market for Indoor Farming, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 8. Global Plant Factory Grow Lights Market for Commercial Greenhouse, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 9. Global Plant Factory Grow Lights Market for Others, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 10. Global Plant Factory Grow Lights Market for High Intensity Discharge, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 11 Global Plant Factory Grow Lights Market for Fluorescent Lighting, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 12. Global Plant Factory Grow Lights Market for LED, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 13. Global Plant Factory Grow Lights Market for Others, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 14 Global Plant Factory Grow Lights Market Revenue, By Region, 2016 – 2028 (USD Billion)
TABLE NO. 15. North America Plant Factory Grow Lights Market Revenue, By Country, 2016 – 2028 (USD Billion)
TABLE NO. 16. North America Plant Factory Grow Lights Market Revenue, By Application, 2016 – 2028 (USD Billion)
TABLE NO. 17. North America Plant Factory Grow Lights Market Revenue, By Application, 2016 – 2028 (USD Billion)
TABLE NO. 18. U.S. Plant Factory Grow Lights Market Revenue, By Application, 2016 – 2028 (USD Billion)
TABLE NO. 19. U.S. Plant Factory Grow Lights Market Revenue, By Application, 2016 – 2028 (USD Billion)
TABLE NO. 20. Canada Plant Factory Grow Lights Market Revenue, By Application, 2016 – 2028 (USD Billion)
TABLE NO. 21. Canada Plant Factory Grow Lights Market Revenue, By Application, 2016 – 2028 (USD Billion)
TABLE NO. 22. Mexico Plant Factory Grow Lights Market Revenue, By Application, 2016 – 2028 (USD Billion)
TABLE NO. 23. Mexico Plant Factory Grow Lights Market Revenue, By Application, 2016 – 2028 (USD Billion)
TABLE NO. 24. Drivers for the Plant Factory Grow Lights Market: Impact Analysis
TABLE NO. 25. Restraints for the Plant Factory Grow Lights Market: Impact Analysis
TABLE NO. 26. Major Buyers of Plant Factory Grow Lights
TABLE NO. 27. Distributors/Traders List of Plant Factory Grow Lights
TABLE NO. 28. Global Plant Factory Grow Lights Market, Company Market Revenue, 2016 – 2019 (USD Billion)
TABLE NO. 29: Global Plant Factory Grow Lights Market, Company Y-o-Y Growth, 2017 – 2019 (USD Billion)   


 

Methodology

This report is based on in-depth qualitative and quantitative analyses of the global Plant Factory Grow Lights market. Zion Research has collected and analyzed key data belong to the global Plant Factory Grow Lights market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.

The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.

Various parameters have been taken into account, while estimating market size. The revenue generated by the leading industry participants in from the sales of Plant Factory Grow Lights across the world has been calculated through primary and secondary research.

Zion Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc. 

For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in validation of findings from secondary research and to understand key trends in the Plant Factory Grow Lights industry. Primary research makes up the major source of data collection and validation.   

Primary Research

We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:

  • Provides firsthand information on market size, market trends, growth trends, competitive landscape, outlook, etc.
  • Helps in validating and strengthening the secondary research findings
  • Further, develops the analysis team’s expertise and market understanding
  • Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

Participants who typically participate in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts and research analysts specializing in specific markets

Key opinion leaders specializing in different areas corresponding to different industry verticals

Secondary Research

Secondary research sources that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • IDC and other relevant magazines
  • Internal and external proprietary databases, and relevant patent and regulatory databases
  • National government documents, statistical databases and market reports

News articles, press releases and webcasts specific to companies operating in the market

Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Plant Factory Grow Lights market.

Models

Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:

  • Demographic data: Population split by segments
  • Macroeconomic indicators: GDP, PPP, Per Capita Income, etc.
  • Industry indicators: Expenditure, technology stage and infrastructure, sector growth and facilities
  • Data is then cross-checked by an expert panel.

Free Analysis

Plant factory is a commercial plant-growing facility. These facilities are closed growing systems that allow farmers to have a constant production of crops throughout an entire year. When a farmer is growing within a plant factory, aspects such as light, moisture, carbon dioxide, and temperature can be controlled. Plants grown in plant factories are often grown vertically in hydroponic systems. Grow light is an artificial source of light which is designed to emit electromagnetic spectrum which is suitable for the photosynthesis purpose. 

The driving factors for plant factories and grow lights market are the increasing demand for the ability to grow food locally and consistently, the paucity of space for farming especially in cities, and the need to increase the yield per unit area without harming the environment. Governments are also encouraging plant factories and grow lights for improving the production. The opportunities in this market are varied and can range from technological advancement in grow lights, combined use of natural lighting with artificial lighting, developing a solar power based plant factory to constructing multiple level plant factories which would further reduce space requirement. 

Plant-Factory-Grow-Lights-Market

The global plant factory grow lights market is segmented into application, technology, and regions. The application segment which includes vertical farming, indoor farming, commercial greenhouse, turf and landscaping, research and others. The technology segment includes high-intensity discharge, fluorescent lighting, led and others. The market is analyzed based on five regions namely North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa.

The leading companies in the global plant factory grow lights market are APL engineered material, Daystar, Advanced lighting Technologies, Siemens Philips horticulture Lamps, General Electric, Hydrofarm, Iwasaki Electric, Sun System and Taiwan Floriculture Exports Association.

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FrequentlyAsked Questions

The global Plant Factory Grow Lights Market was valued at USD 4.3 billion in 2020.

The global Plant Factory Grow Lights Market is expected to reach USD 7.9 billion by 2028, growing at a CAGR of 7.7% between 2021 to 2028.

To meet the demand agriculture industry is currently on the verge of technological change by incorporating indoor farming, vertical farming, commercial greenhouse, urban farming, etc. Such technologies are increasingly gaining traction, which is, in turn, driving the demand for agritech products such as grow to light. 

Europe in 2020 ruled the Plant Factory Grow Lights market and was believed to be the highest income-generating area all over the globe.  Europe added up for almost 42% of the total share in the Plant Factory Grow Lights market in 2020.

The major participants include APL engineered material, Daystar, Advanced lighting Technologies, Siemens Philips horticulture Lamps, General Electric, Hydrofarm, Iwasaki Electric, Sun System, and Taiwan Floriculture Exports Association.

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