In 2019, the market size of Grow Light Market is million US$ and it will reach million US$ in 2025, growing at a CAGR of from 2019; while in China, the market size is valued at xx million US$ and will increase to xx million US$ in 2025, with a CAGR of xx% during forecast period.
In this report, 2019 has been considered as the base year and 2019 to 2025 as the forecast period to estimate the market size for Grow Light .
This report studies the global market size of Grow Light , especially focuses on the key regions like United States, European Union, China, and other regions (Japan, Korea, India and Southeast Asia).
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This study presents the Grow Light Market production, revenue, market share and growth rate for each key company, and also covers the breakdown data (production, consumption, revenue and market share) by regions, type and applications. Grow Light history breakdown data from 2014 to 2019, and forecast to 2025.
For top companies in United States, European Union and China, this report investigates and analyzes the production, value, price, market share and growth rate for the top manufacturers, key data from 2014 to 2019.
In global Grow Light market, the following companies are covered:
Growth in indoor farming methods and soaring popularity of commercial greenhouses for cultivating plants are the key factors propelling the grow light market. Government regulations and intensive initiatives to support the adoption of solid state lighting (SSL) technologies, such as LED, across various regions have boosted the market. The increasing adoption of automation in commercial greenhouses has helped growers maximize their yield using grow lights, thereby accelerating their implementation in controlled environment agriculture practices. Efforts by manufacturers to speed up time-to-market for energy-efficient grow lights and the launch of customized products with specific intensity and wavelength are expected to open up lucrative avenues in the market. With vertical farming methods gathering steam in various developed nations, the grow light market is expected to witness numerous exciting opportunities for manufacturers.
Global Grow Light Market: Market Potential
Noribachi, a U.S.-based LED technology manufacturing company focusing on clean lighting technologies for commercial applications, announced in April, 2017 the launch of its advanced, full-spectrum LED grow lights. The product line features a wide range of warehouse grow lights and DIY kits developed in its Northern California Growlab. The innovative and high-end LED grow light is used by farmers to facilitate the growth cycle of different types of fruits, vegetables, and flowers. The LED technology developed by Noribachi enables a number of commercial growers and urban farmers to optimize space, increase light output, and reduce their energy costs.
Noribachi’s Growlab (NGL) has been a key testing ground for several smart grow light technologies. As a vital part of NGL’s testing environment, Noribachi has developed a program known as “Customer Grow”, which encourages its customers to send plants with specific growth requirements to the lab for testing. During the testing period, the company designs a customized equipment or fixture to maximize light output with due consideration of the optimum growth conditions for each plant, thereby helping growers improve the quality and quantity of the yield.
Over the past few years, technological advances in LED grow lights have led to cutting-edge innovations in the farming and horticulture industries, thereby creating abundant growth opportunities for manufacturers of LED.
Global Grow Light Market: Regional Outlook
Geographically, the Middle East and South America are prominent markets for grow lights. The regional markets are driven by the rising adoption of indoor farming methods. Constant advancement in urban farming technologies and the growing popularity of hydroponics among agriculturists are key factors fuelling the demand for grow lights in the developed regions of Asia Pacific and North America. Meanwhile, the impending food crisis in some regions, particularly in various parts of Southern Africa, is expected to stimulate the demand for vertical farming and CEA practices, thereby boosting the adoption of grow lights in these regions.
Global Grow Light Market: Competitive Analysis
Several emerging players are forming partnerships with commercial agriculturists and research institutions to develop innovative grow lights that help control light levels dynamically in order to augment crop quality and maximize yield. Leading players are offering cloud-based solutions to gain a competitive edge over others. Major companies eyeing a significant share in the grow light market include General Electric Company, Osram Licht AG, LumiGrow, Inc., Royal Philips Electronics, Heliospectra Ab., IWASAKI ELECTRIC CO., LTD., Hortilux SchrEder B.V., Sunlight Supply Inc., and Gavita Holland B.V.
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The content of the study subjects, includes a total of 15 chapters:
Chapter 1, to describe Grow Light product scope, market overview, market opportunities, market driving force and market risks.
Chapter 2, to profile the top manufacturers of Grow Light , with price, sales, revenue and global market share of Grow Light in 2017 and 2019.
Chapter 3, the Grow Light competitive situation, sales, revenue and global market share of top manufacturers are analyzed emphatically by landscape contrast.
Chapter 4, the Grow Light breakdown data are shown at the regional level, to show the sales, revenue and growth by regions, from 2014 to 2019.
Chapter 5, 6, 7, 8 and 9, to break the sales data at the country level, with sales, revenue and market share for key countries in the world, from 2014 to 2019.
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Chapter 10 and 11, to segment the sales by type and application, with sales market share and growth rate by type, application, from 2014 to 2019.
Chapter 12, Grow Light market forecast, by regions, type and application, with sales and revenue, from 2019 to 2024.
Chapter 13, 14 and 15, to describe Grow Light sales channel, distributors, customers, research findings and conclusion, appendix and data source.