The latest report on “ (Technology – High-intensity Discharge, Led, and Fluorescent Lighting; Installation – Retrofit, and New Installation; Spectrum – Full-spectrum, and Partial Spectrum; Application – Turf and Landscaping, Vertical Farming, Indoor Farming, and Greenhouse): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025.” The global grow light market is projected to grow at a CAGR of 9.3% over the forecast period of 2019-2025.
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Grow light effectively used for plant growth since 1868, today it is available with a different type of lamps in a market such as high-pressure sodium lights, high-intensity discharge (HID) lights, metal-halide lights, light-emitting diodes (LEDs) and others. The grow light is an artificial source of light that emits an electromagnetic spectrum for photosynthesis in order to stimulate plant growth. It is a basic electronic lamp which is designed to accelerate plant growth by the electromagnetic spectrum. Grow lights are used for cultivating plants that are out of season or situation when there is insufficient light to grow plants naturally because of lack of sunlight in winter. Based on the type of grow light a different range of color is used to mimic specific outdoor conditions including color, temperature and sun’s light.
The rising demand for energy-efficient products which are environmentally safe and simultaneously growing trend of indoor farming and government initiatives for the adoption of new technologies such as LED are helping to grow the demand of the grow light products around the world. Furthermore, the less power consumption, increasing demand for greenhouse practices are helping to boost the market of grow light products. However low consumer awareness and high cost are the major restraint factors for the growth of grow light market in the near future.
Asia Pacific is Estimated to Account for the Largest Share in the Grow Light Market
The Asia Pacific is estimated to account for the largest share in the grow light market, owing to the growing demand of the grow light products in greenhouse farming and indoor farming. Further, the growing trend of commercial farming and the increasing number of commercial livestock farms are helping to grow the demand of the grow light market in the Asia-Pacific region. Furthermore, focus on the development and growth of the livestock population by farmers and the adoption of advanced technologies for farms are helping to grow the demand for the grow light market in this region.
Segment Covered
The report on the global grow light market covers segments such as technology, installation, spectrum, and application. On the basis of technology, the sub-markets include high-intensity discharge, led, and fluorescent lighting. On the basis of installation, the sub-markets include retrofit, and new installation. On the basis of spectrum, the sub-markets include full-spectrum, and partial spectrum. On the basis of application, the sub-markets include turf and landscaping, vertical farming, indoor farming, and greenhouse.
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Companies Profiled:
The report provides profiles of the companies in the market such as Hortilux Schreder B.V, General Electric Company, Royal Philips, Platinum LED Lights LLC, Osram LichtAG, Gavita Holland B.V, Sunlight Supply, Heliospectra AB, and LumiGrow, Inc.
Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of the grow light.
=> Complete coverage of all the product type and application segments to analyze the trends, developments, and forecast of market size up to 2025.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.