Grow Lights Manufacturers, States, Market to Offer Outlook on Growth Opportunities

Research analysis on the grow lights market identifies the rise in indoor farming as one of the major factors that will have a positive impact on the growth of the market. With the growing need for secure and consistent food supply facility and the diminishing tradition farming practices, several farmers are preferring indoor agriculture which includes different types of farming facilities. This is inducing vendors towards adopting different technologies to help farmers cultivate different crops without depending on the climatic conditions. Publisher’s market research analysts predict that this market will grow at a CAGR of almost 13% by 2021.

In terms of geography, EMEA accounted for the major revenue share to this market during 2016. This is mainly due to the adoption of energy-efficient lighting solutions in indoor farming techniques. The increasing R&D activities that lead to the growth in vertical farming and commercial greenhouses, is a major factor augmenting the market’s growth prospects in this region. The focus of consumers in the region towards reducing energy consumption and carbon footprint that drives the demand for LED grow lights, also fuels the growth of the grow light market in EMEA.

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Competitive landscape and key vendors

Owing to the presence of many vendors, this market appears to be fragmented. To sustain in the competitive environment, the vendors in this marketspace are focusing on offering products with better quality, technology, and pricing. To improve their product portfolio and enhance their geographical reach, the large vendors are focusing on acquiring small players.

The leading vendors in the market are -

Philips Lighting Holding

GENERAL ELECTRIC

OSRAM

Gavita International

LumiGrow

The other prominent vendors in the market are Heliospectra, SolarMAX, PARsource, Transcend Lighting, EYE HORTILUX, Twilight Group, Lemnis Oreon, and Kessil.

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