Market Synopsis of Global Grow
Light Market:
Market Scenario:
Grow light is an electric light
rather an artificial source of 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. It is basically a type of electronic lamp designed
to accelerate plant growth by electronic magnetic spectrum.
The key drivers contributing to the
growth of the grow light market are growth in the indoor farming, government
initiatives to adopt technologies such as LED, growing demand for energy efficiency,
long lasting grow technology and environmentally safe products. Also, the
demand for these products is increasing in countries such as Netherlands where
supplemental lighting is required throughout the year.
However, low awareness among
consumers, high cost of capital are the factors hindering the growth of the
overall growth of the market. Whereas, high reliability, low power consumption,
high commercial greenhouse practices are also propelling the growth of the grow
light market.
Geographically, Europe accounted for
the largest market share in the global grow light market, whereas Asia-Pacific
is expected to grow significantly over the forecast period.
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
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), 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.
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.
Intended
Audience
- Manufacturers
- Distributors
- Research
firms
- Consultancy
firms
- Software
Developers
- Vendors
- Semiconductor
Manufacturers
- Stakeholders
- End-user
sectors
- Technology
Investors
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