29.09.2021 Бизнес

Grow Lights Market Competitive Landscape, Insights by Geography, and Growth Opportunity

Specialized equipment, such as grow lights, needs to be procured, maintained, and regularly replaced. This is why among the different types of lights available for the purpose — fluorescent, high-intensity discharge, induction, light-emitting diode (LED), and plasma — LED lights have been the most popular till now and they will continue being so in the coming years.

"Residential LEDs — especially ENERGY STAR rated products — use at least 75% less energy, and last up to 25 times longer, than incandescent lighting.”, says the U.S. Department of Energy. Among the various types of crops these grow lights are being used for, cannabis has become quite significant in recent times.


With several countries around the world following the suit of the U.S. in legalizing marijuana in some or the other form, for some or the other purpose, the demand for grow lights is burgeoning. This is because it is these types of cash crops that are majorly grown in indoor settings. Currently, cannabis and its various derivatives are legal in some capacity in Mexico, Chile, Brazil, Columbia, Peru, and Argentina, apart from the U.S. and Canada.

This is because of the perceived benefits of cannabidiol (CBD) and tetrahydrocannabinol (THC) in treating insomnia, low appetite, anxiety, glaucoma, muscle spasticity, pain, and inflammation. Hence, with an increasing number of people suffering from anxiety and other such issues due to their hectic work life or personal demons, they are experimenting with cannabis and other psychoactive compounds for relaxation.

Thus, research is being conducted to see if psychoactive compounds, most of which are illegal in many countries, can be used medically. However, despite the fact that cannabis is majorly legal in the Americas and Europe and that grow lights are used for cash crops like this, Asia-Pacific (APAC) will be the fastest-advancing grow lights market in the coming years.

This will be because of APAC’s mammoth demand for food because of its huge population. Moreover, despite North America and Europe being the two most-urbanized regions, India and China account for the largest urban population overall, which means extremely large cities and a continuously reducing farming area. Hence, with the booming demand for food, the sales of grow lights for indoor farming will rise.