San Francisco, 18 March 2019: The Report Grow Light Market Analysis By Application (Indoor Farming, Vertical Farming,
Commercial Greenhouse), By Product, By System, By Technology, By Installation,
By Spectrum, And Segment Forecasts, 2018 - 2025
The global grow light market is anticipated to reach USD 8.64 billion by 2025, growing
at a CAGR of 14.1%, according to a new report by Grand View Research, Inc. The
increased use of vertical farming and indoor cultivation, for producing crops,
is likely to spur the market demand over the forecast period. Grow light helps
in extending the hours of the natural daylight which further increases the
health, growth rate and yield of the plants. Artificial lighting, such as
high-pressure sodium lighting, LED lighting and plasma lighting can extend the
availability of crops throughout the season.
According to the UN, by 2050, around 80
percent of the world's population will live in cities. People continuously move
into cities to get access to training, service, jobs, culture and entertainment
and all the other things cities’ offer. This means that the demand for food is
increasing in these areas at the same time as the availability of arable land
around cities is very limited.
Artificial lighting helps in extending the
hours of the natural daylight which further increases the health, growth rate
and yield of the plants. Artificial lighting, such as high-pressure sodium
lighting, LED lighting can extend the availability of crops (throughout a
season). LED lighting systems produce dual-band color spectrum and generate low
heat. They are anticipated to witness significant growth over the forecast
period.
The U.S. government has increasingly
started to legitimize cannabis plantation across various states. With this
initiative, cannabis cultivation is on a verge to become a big business in some
parts of the country. Cannabis growers prefer Controlled-Environment
Agriculture (CEA) to enhance product quality and yield. This set up consumes a
high amount of electricity. As government officials and power companies are
trying to convert this into a green industry, they are encouraging the use of
LEDs to reduce power consumption and greenhouse gas emissions.
Access Research Report of Grow Light Market @ http://www.grandviewresearch.com/industry-analysis/grow-light-market
Further key findings from the report suggest:
· The escalating urban population and lack of
arable land around cities is expected to drive the market.
· The plasma technology segment is expected
to portray high growth rate with a CAGR of 23.2% over the projected period
· New installations and replacement lights,
increasing urban cultivation, increasing vertical farming and government
initiatives are expected to be the drivers of the market over the forecast
period.
· The Asia Pacific regional market is
expected to have significant growth over the forecast period, owing to the
technological advancement and commercial vertical farms
· The key players of the market include
AeroFarms (U.S.), Everlight Electronics Co., Ltd. (Taiwan), and Gavita Holland
bv (U.)
Browse more reports of this category by Grand View
Research at: https://www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
Grand View Research has
segmented the grow light market based on application, product, system,
technology, installation, spectrum, and regions:
Application Outlook (Revenue, USD Million;
2014 - 2025)
·
Indoor Farming
·
Vertical Farming
·
Commercial Greenhouse
·
Others
Product Outlook (Revenue, USD Million; 2014
- 2025)
·
< 300 Watt
·
> 300 Watt
System Outlook (Revenue, USD Million; 2014
- 2025)
·
Hardware
·
Software
Technology Outlook (Revenue, USD Million;
2014 - 2025)
·
High Intensity Discharge (HID)
·
LED
·
Fluorescent
·
Plasma
Installation Outlook (Revenue, USD Million;
2014 - 2025)
·
New Installation
·
Retrofit
Spectrum Outlook (Revenue, USD Million;
2014 - 2025)
·
Partial Spectrum
·
Full Spectrum
Regional Outlook (Revenue, USD Million;
2014 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
South America
·
Middle East and Africa (MEA)
Access Press Release of
Grow Light Market@ https://www.grandviewresearch.com/press-release/global-grow-light-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
