Press release
Grow Light Market: Rising Demand and Awareness About Energy-Efficient with Top Competitors like AeroFarms, Gavita International B.V., Advanced Lighting Technologies, Inc. and Forecast to 2024
Global Grow Light Market
Global Grow Light Market accounted for USD 2.65 billion in 2016 growing at a CAGR of 12.2% during the forecast period of 2017 to 2024.
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Grow light is an artificial light powered by electricity which is specially designed to stipulate the plant growth by emitting an electromagnetic spectrum appropriate for photosynthesis. These lights are mostly tailor-made to cater essential light for plants in absence of natural light or supplemental light required in unfavorable climatic conditions.
Major Market Competitors:
• Philips,
• General Electric Company,
• Osram Licht AG,
• Lumigrow Inc.,
• Heliospectra Ab.,
• Iwasaki Electric Co. Ltd.,
• Illumitex Inc.,
• Hortilux Schreder B.V.,
• Sunlight Supply Inc,
• AeroFarms,
• Gavita International B.V.,
• Advanced Lighting Technologies Inc.,
• Hydrofarm,
• IWASAKI ELECTRIC CO. LTD.
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Major Market Drivers & Restraints:
• Increased demand and awareness about energy-efficient lighting
• Growing demand for indoor farming practices
• Increasing commercialization of grow lights in multiple verticals
• High costs of energy-efficient grow lights
• Customized lights for different crops
Market Segmentation:
On the basis of spectrum
• Partial Spectrum
• Spectrum
On the basis of installation
• New Installation
• Retrofit Installation
On the basis of technology
• High-Intensity Discharge
• Fluorescent Lighting
• LED
On the basis of geography, the global grow light market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific, and Middle East & Africa.
Company Share Analysis:
The report for global grow light market include detailed vendor level analysis Also impact and development analysis of key vendors is registered in the market and factored on the basis of Vendor Positioning Grid Analysis which measures the vendors strengths and opportunities against present market challenges, measure providers ability to identify or satisfy present market needs, map providers market vision to current and upcoming market dynamics among others. The report also measures technology life line curve and market time line to analyze and do more affective investments.
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