Indian Grow Light Market Size (US$ 173.6 Million) | Industry Report 2023-2028

One of the primary factors driving the market is the rapid establishment of vegetable factories across the country, on account of the increasing population

NOIDA, UP, INDIA, March 15, 2023 /EINPresswire.com/ -- According to the latest report by IMARC Group, titled “India Grow Light Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” Offers a comprehensive analysis of the industry, which comprises insights on the Indian grow light market.

Grow light refers to artificial light sources used to stimulate plant growth. They are available in multiple product variants, such as high-intensity discharge (HID), light-emitting diodes (LED), high-pressure sodium (HPS), fluorescent, etc. These grow light models emit electromagnetic radiation in the visible light spectrum that acts as a substitute for sunlight to induce photosynthesis. The multiple elements of these lights, which include temperature, color, and intensity, can be effectively controlled to mimic outdoor settings and create an ideal environment for plants to grow. Grow light systems prove extremely effective in improving crop yield. Consequently, they find extensive applications in indoor and vertical farming, turf and landscaping, commercial greenhouse, etc., in India.

What is the market size of the Indian grow light industry?

The India grow light market size reached US$ 80.4 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 173.6 Million by 2028, exhibiting a growth rate (CAGR) of 13.5% during 2023-2028.

India Grow Light Market Trends:

The increasing establishment of vegetable factories in the country, owing to the growing population and elevating demand for food, are primarily driving the India grow light market. Apart from this, the emerging trend of rooftop, vertical, and commercial greenhouse farming is acting as another significant growth-inducing factor. In addition to this, the expanding awareness about the multiple advantages of using the product in plant cultivation, including cost-effectiveness, energy efficiency, improved color quality, etc., is further catalyzing the Indian market. Moreover, the launch of supportive policies by the government bodies and the rising investments in research and development (R&D) activities aimed at promoting innovations in agricultural science and technology are also positively influencing the market across the country. Besides this, the escalating deployment of solar power-based agricultural plants is expected to bolster the India grow light market over the forecasted period.

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India Grow Light Market 2023-2028 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

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Breakup by Region:

North India
West and Central India
South India
East India

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