Global Grow Light Market 2018 Study And Analysis Research Report Forecast To 2023


Posted August 21, 2018 by mandar

Global Grow Light Market, By Technology (LED, High Intensity Discharge, Fluorescent Lighting), By Installation (New Installation, Retrofit), By Application (Indoor Framing, Commercial Greenhouse, Vertical Framing) - Forecast 2022

 


Market Scenario:

According to Market Research Future Analysis, Grow Light Market has been valued at USD ~6 billion by 2022 growing with ~13% of CAGR during forecast period 2017 to 2022.

It is an artificial source of light basically an electric light which is designed to stimulate plant growth by emitting an electromagnetic spectrum for photosynthesis. Grow light is widely used in applications where natural light is not available or where supplemental light required and also to accelerate plant growth.

The demand for these products is increasing in countries such as Netherlands where supplemental lighting is required throughout the year which is helping the market to grow. Also, factors such as growth in the indoor farming, government initiatives regarding various technologies such as LED, low power consumption and high commercial greenhouse practices are driving the growth of the grow light market.

However, low awareness among consumers, high cost of capital are the factors hindering the growth of the overall growth of the market. Various firms investing lump sum amount to adopt these practices for production of fruits and vegetables. Also, vertical framing and indoor framing is widely used in the European region because of factories can produce fruits and vegetables anytime of the year.

According to market research future, the market segmentation of grow light market can be into technology, installation, application and region.

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Key Players

The key players in the global grow light market include Osram LichtAG (Germany), General Electric Company (U.S.), Iwasaki Electric Co., Ltd. (Japan), Lumi Grow, 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.

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

Segments

For the purpose of this study, Market Research Future has segmented the market of grow light into technology, installation, application and region.

By Technology:

LED

High Intensity Discharge

Fluorescent Lighting

Others

By Installation-

New Installation

Retrofit

By Application:

Indoor Framing

Commercial Greenhouse

Vertical Framing

Landscaping

Others

By Region:

North-America

Europe

Asia-Pacific

RoW

Regional Analysis:

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.

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Intended Audience:

Manufacturers
Distributors
Research firms
Consultancy firms
Software Developers
Vendors
Semiconductor Manufacturers
Stakeholders
End-user sectors
Technology Investors
About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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Last Updated August 21, 2018