Global Livestock Grow Lights Market is expected to grow at a CAGR of 8.6% during the forecast period from 2019-2025

As per the report published by Fior Markets, the global livestock grow lights Market is expected to grow from USD 5.6 Billion in 2017 to USD 10.8 Billion by 2025 at a CAGR of 8.6% during the forecast period from 2018-2025.Asia-Pacific is dominating the market due tolarge livestock population. The increase in number of livestock farms and the rising size of existing farms have also contributed to the high market share.

Global Livestock Grow Lights Market by Type (Fluorescent, Light-Emitting Diode (LED), Incandescent, HID), Livestock (Cattle, Others), Installation Type, Light Color Type, Region Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2025.

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Leading companies in the industry include Agrilight BV, Aruna Lighting, Big Dutchman, CBM Lighting, Delaval, Enim UAB, Fienhage Poultry Solutions, GreengageLightingamong otherswhichare offering greater opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.For instance, in June 2018, Once Inc. (US) announced the acquisition of iLOX GmbH (Germany) and its subsidiary iLOXSp.z.o.o. (Poland) which would help the company to develop innovative lighting technologies for the livestock growing agricultural market with a special focus on animal welfare.

The type segment is classified into fluorescent, Light-Emitting Diode (LED), incandescent and HID. The Light-Emitting Diode (LED) segment is growing rapidly in the market with the highest CAGR of 10.8% in forecast period as it saves huge amount of energy and is durable. It is more energy-efficient with one-fifth of the power consumption of incandescent bulbs.Livestock segment includes cattle, poultry, swine, and others. Cattle segment is dominating the market with the highest share of 61.10%. In dairy farms, grow lights multiplies the productivity of milk from dairy cattle and helps to stimulate muscle growth to increase meat production.Installation type segment is divided into segments such as retrofit and new installation. The new installation segment valued around USD 2.12 Billion in 2017. The expansion of farms propels the new installation for the livestock grow lights market.The light color type segment includes green, red, white and blue. The blue color type segment dominated the market with the highest share 39.20% in 2017.LED grow lights provide a wide range of spectrum from blue to red that can be modified to the desired spectrum as per the spectral sensitivity of the livestock.

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Rising consumption of livestock-based productsis a major factor driving the market. Also, technological improvements and use of smart livestock farming practicesisalso fuelling the growth of market.Inclination over livestock growth so as to increase livestock productivity is also another important factor. But lack of knowledge of smart technology for livestock farming in developing countriesmay hamper the growth of market. However, growing number of commercial livestock farms across the globe will propel livestock grow lightsmarket growth

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