Grow Light Market Size, Share, Key Players, Industry Demand and 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 2018 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.

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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.

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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Table of content

1market Introduction

1.1introduction

1.2scope Of Study

1.2.1research Objective

1.2.2assumptions

1.2.3limitations

1.3market Structure

2research Methodology

2.1research Network Solution

2.2primary Research

2.3secondary Research

2.4forecast Model

2.4.1market Data Collection, Analysis & Forecast

2.4.2market Size Estimation

3market Dynamics

3.1introduction

3.2market Drivers

3.3market Challenges

3.4market Opportunities

3.5 Market Restraints

4executive Summary

5.Market Factor Analysis

5.1porter’s Five Forces Analysis

5.2supply Chain Analysis

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

Table 4 Global Grow Light Market, By Geography

Table 5 North America Grow Light Market, By Technology

List Of Figures

Figure 1research Technology

Figure 2global Grow Light Market, By Technology (%)

Figure 3global Grow Light Market, By Installation (%)

Figure 4global Grow Light Market, By Application(%)

Figure 5 Global Grow Light Market, By Regions(%)

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