Grow Light Market to Reach $4.19B in 2022

by | Mar 9, 2016

This article is included in these additional categories:

marijuana_facilityThe worldwide grow light market will be valued at $4.19 billion by 2022, according to a report from MarketsandMarkets.

The firm found that the annual compound growth rate (CAGR) from this year to 2022 will be 9.63 percent. Drivers include the resurgence of vertical farming and the legalization of marijuana in North America. LEDs are expected to be the type of light used by in the segment. Its predominance is due to its energy efficiency, long life and the capability varying the spectrum used. Europe is expected to be the leading region for grow lights during the period of the survey.

Horticulturists suggest that LEDs bring very specific capabilities that will aid in indoor growing of plants.

Additional articles you will be interested in.

Stay Informed

Get E+E Leader Articles delivered via Newsletter right to your inbox!

This field is for validation purposes and should be left unchanged.
Share This