Maybe not a replacement for natural light but grow light is a potent supplement to it stimulate plant growth by emitting an electromagnetic spectrum for photosynthesis. Market Research Future (MRFR) has published a research report that infers vast expansion for the global grow light market with 13% CAGR (Compound Annual Growth Rate) between 2017 and 2022. In terms of cash, the market is expected to grow by the US $ 5.80 bn by the end of the forecast period.
Analyzing the market structure, this report evaluates the future growth potential and observes the strategies of the key players in this market. It also tracks the competitive developments such as joint ventures, mergers, and acquisitions, new product developments, new product developments (R & D) in the market. The factors contributing to the growth of the grow light market include environmentally safe products, government initiatives to adopt technologies such as Light-emitting diode (LED), growing demand for energy efficiency, growth in the indoor farming, high reliability, high commercial greenhouse, long lasting grow technology, and low power consumption. However, the high cost of capital and low awareness among consumers is hindering market growth.
The global grow light market has been segmented on the basis of application, installation, technology, and region. On the basis of application, this market has been segmented into the commercial greenhouse, indoor framing, landscaping, vertical framing, and others. Based on installation, the market has been segmented into new installation and retrofit. The technology-based segmentation of this market comprises of fluorescent lighting, high intensity discharge, LED, and others.
The global grow light market is expected to reach USD 5.80 billion by the end of 2022 with ~13% CAGR during forecast period 2017-2022
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Study Objectives of Global Grow Light Market:
To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the global grow light market.
To provide insights about factors affecting the market growth.
To analyze the global grow light market-based porter’s five force analysis etc.
To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World (ROW).
To provide country level analysis of the market with respect to the current market size and future prospective.
To provide country level analysis of the market for segment by technology, installation, application and region.
To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the Global Grow Light
The key players in the global grow light market include Osram LichtAG (Germany), General Electric Company (U.S.), Iwasaki Electric Co., Ltd. (Japan), LumiGrow, Inc. (U.S.), Gavita Holland B.V. (Netherlands), Hortilux Schreder B.V. (Netherlands), Sunlight Supply, Inc. (U.S.), Heliospectra AB (Sweden), Royal Philips (Netherlands), Platinum LED Lights LLC (U.S.) and others.
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For the purpose of this study, Market Research Future has segmented the market of grow light into technology, installation, application and region.
High Intensity Discharge
Latest Industry News
VividGro®, the horticultural LED division of Lighting Science, has announced a partnership with Happy Sprouts Farm that produces and sells nutrient-packed microgreens and shoots. Happy Sprouts will now use GroBar lighting services of VividGro®. 22 AUG 2018
VividGro® has launched FlowerMax™. This is intelligent lighting, and control system for the flowering stage for all crops. 23 AUG 2018.
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Regionally, Europe accounted for the largest market share, because Netherlands is a leading exporter of horticultural produce which increases the usage of commercial greenhouse. Also, the concept of vertical farming is gaining popularity in this region.
Asia-Pacific region is expected to grow significantly over the forecast period, majorly due to increasing awareness about the benefits of this technology.
TABLE OF CONTENT
1.2scope Of Study
2.1research Network Solution
2.4.1market Data Collection, Analysis & Forecast
2.4.2market Size Estimation
LIST OF TABLES
Table 1 Global Grow Light Market, By Technology
Table 2 Global Grow Light Market, By Installation
Table 3 Global Grow Light Market, By Application
LIST OF FIGURES
Figure 1research Technology
Figure 2global Grow Light Market, By Technology (%)
Figure 3global Grow Light Market, By Installation (%)
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