The increase in the indoor farming methods and the increasing popularity of the commercial greenhouses boost Grow Light Market growth.
Sarasota, FL -- (SBWIRE) -- 05/04/2017 -- Zion Market Research, the market research group announced the analysis report titled "Grow Light Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024"
Grow Light Market: Overview
In order to stimulate and power the growth of plants and seeds a specially designed artificial source of light is used which is known as grow light. They are also popularly known as plant lights; grow lights are used in conditions where naturally occurring light is not available or in cases where the artificial sources of light are required to augment the sunlight. Grow lights are widely used in vertical farms, commercial greenhouses, and in horticulture, applications to increase and improve the yield. Some of the major types of grow lights are high-intensity discharge grow lights, fluorescent grow lights, and light-emitting diode grow lights.
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Grow Light Market: Segmentation
The global grow light market is segmented into spectrum, technology, installation, application, and regions. On the basis of spectrum, the market is segregated into full spectrum and partial spectrum. Based on the technology, the market is categorized into fluorescent lighting, high intensity discharge, LED, and others. On the basis of installation, the market is bifurcated into new installation and retrofit. Depending on the application, the market is divided into indoor farming, turf and landscaping, vertical farming, commercial greenhouse, research, and others. Region wise, the global grow light market is diversified into Asia Pacific, North America, South America, Europe, and the Middle East and Africa.
Grow Light Market: Growth Factors
The increase in the indoor farming methods and the increasing popularity of the commercial greenhouses in order to cultivate plants are the major factors that are propelling the growth of the grow light market. Supporting government regulations and the rigorous initiatives that are adopted for the adoption of solid state lighting technologies across various regions have triggered the growth of the market. The increasing automation adoption by the commercial greenhouses has helped the farmers to maximize their yield using the grow lights technology, thereby augmenting their implementation in the agricultural practices. Several efforts by the manufacturers to increase the rate of time-to-market for efficient energy grow lights and the introduction of custom-made products with precise wavelength and intensity expects opening up beneficial avenues in the market. Vertical farming methods is gaining popularity in different developed countries, thus accelerating the demand of the grow light market.
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Grow Light Market: Regional Analysis
The Middle East and South American regions are well-known markets for the grow lights. These regional markets are driven by the factors such as rising adoption of the indoor farming methods. Continuous advancement in the technologies of urban farming and the increasing popularity of the hydroponics among the farmers are main factors that are fuelling the demand for grow lights in the developed Asia Pacific and North American regions. At the current scenario, the impending food crisis in some regions, mainly in parts of Southern Africa expects to stimulate the demand for CEA practices and vertical farming, thus triggering the adoption of grow lights in these regions.
Grow Light Market: Competitive Players
Some of the key market players that are involved in the grow light market include General Electric Company, LumiGrow, Inc., Heliospectra Ab., Hortilux SchrEder B.V., Gavita Holland B.V., Osram Licht AG, Royal Philips Electronics, Iwasaki Electric Co., Ltd., and Sunlight Supply Inc.
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Grow Light Market: Regional Segment Analysis
North America(U.S.); Europe(UK, France, Germany); Asia-Pacific(China, Japan, India); Latin America(Brazil); The Middle East and Africa