GCC Grow Light Market Report: Trends, Forecast and Competitive Analysis to 2030

GCC Grow Light Trends and Forecast

The future of the global GCC grow light market looks promising with opportunities in the indoor farming, vertical farming, commercial greenhouse, and turf and landscaping markets. The global GCC grow light market is expected to reach an estimated $37.0 million by 2030 with a CAGR of 13.1% from 2024 to 2030. The major drivers for this market are increasing demand for indoor farming in urban areas, increasing government support towards the adoption of LED lights, and ongoing investments in research and development (R&D) activities to promote innovations in agricultural science and technology.

A more than 150-page report is developed to help in your business decisions.

GCC Grow Light by Segment

The study includes a forecast for the global GCC grow light by technology, installation type, spectrum, end use industry, and region.

GCC Grow Light Market by Technology [Shipment Analysis by Value from 2018 to 2030]:

• High Intensity Discharge (HID)
• LED
• Fluorescent
• Others

GCC Grow Light Market by Installation Type [Shipment Analysis by Value from 2018 to 2030]:

• New Installation
• Retrofit

GCC Grow Light Market by Spectrum [Shipment Analysis by Value from 2018 to 2030]:

• Full-Spectrum
• Partial Spectrum

GCC Grow Light Market by End Use Industry [Shipment Analysis by Value from 2018 to 2030]:

• Indoor Farming
• Commercial Greenhouse
• Vertical Farming
• Others

GCC Grow Light Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of GCC Grow Light Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies GCC grow light companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the GCC grow light companies profiled in this report include-

• Koninklijke Philips N.V
• Osram Licht
• General Electric Company
• Heliospectra
• Dool Industries
• Illumitex
• Gavita International
• Lumigrow
• Iwasaki Electric
• Sunlight Supply

GCC Grow Light Market Insights

Lucintel forecasts that led will remain the highest growing segment over the forecast period due to rise in urban agriculture and government-driven efforts to promote the adoption of energy-efficient led lighting.

Within this market, commercial houses will remain the largest segment over the forecast period due to increased automation in the last decade and the concept of controlled environment agriculture (CEA) is being implemented in greenhouses to maintain optimum growing conditions and obtain a higher yield.

Europe will remain the largest region over the forecast period due to increasing awareness towards the importance of alternative farming as there is less availability of fertile agricultural land and increasing population.

Features of the Global GCC Grow Light Market

Market Size Estimates: GCC grow light market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: GCC grow light market size by various segments, such as by technology, installation type, spectrum, end use industry, and region in terms of ($B).

Regional Analysis: GCC grow light market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different technologies, installation types, spectrums, end use industries, and regions for the GCC grow light market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the GCC grow light market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q.1 What is the GCC grow light market size?

Answer: The global GCC grow light market is expected to reach an estimated $37.0 million by 2030.

Q.2 What is the growth forecast for GCC grow light market?

Answer: The global GCC grow light market is expected to grow with a CAGR of 13.1% from 2024 to 2030.

Q.3 What are the major drivers influencing the growth of the GCC grow light market?

Answer: The major drivers for this market are increasing demand for indoor farming in urban areas, increasing government support towards the adoption of led lights, and ongoing investments in research and development (r&d) activities to promote innovations in agricultural science and technology .

Q4. What are the major segments for GCC grow light market?

Answer: The future of the GCC grow light market looks promising with opportunities in the indoor farming, vertical farming, commercial greenhouse, and turf and landscaping markets.

Q5. Who are the key GCC grow light market companies?

Answer: Some of the key GCC grow light companies are as follows:

• Koninklijke Philips N.V
• Osram Licht
• General Electric Company
• Heliospectra
• Dool Industries
• Illumitex
• Gavita International
• Lumigrow
• Iwasaki Electric
• Sunlight Supply

Q6. Which GCC grow light market segment will be the largest in future?

Answer: Lucintel forecasts that LED will remain the highest growing segment over the forecast period due to rise in urban agriculture and government-driven efforts to promote the adoption of energy-efficient led lighting.

Q7. In GCC grow light market, which region is expected to be the largest in next 5 years?

Answer: Europe will remain the largest region over the forecast period due to increasing awareness towards the importance of alternative farming as there is less availability of fertile agricultural land and increasing population.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the GCC grow light market by technology (high intensity discharge (HID), LED, fluorescent, and others), installation type (new installation and retrofit), spectrum (full-spectrum and partial spectrum), end use industry (indoor farming, commercial greenhouse, vertical farming, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?