Grow Lights Market Likely to Experience A Huge Growth in Near Future | StraitsResearch

Report Description:
Light plays a vital role in the growth and development of plants. The sun is the primary light source for outdoor plants, whereas for indoor plants, florescent light bulbs provide benefits similar to sunlight. A grow light stimulates plant growth by emitting the light required for photosynthesis.

According to the United States Department of Agriculture, in 2016, the average yield of traditionally grown tomatoes was 1.85 pounds per square foot, whereas tomatoes grown in greenhouse hydroponics was 10.59 pounds per square foot. Indoor farming is not only independent of external climatic conditions and soil structure, but it also leverages artificial light sources, such as metal-halide lamps, high-pressure sodium-vapor lamps, LED lamps, and others.

Grow lights are particularly used where there is no naturally occurring light or where supplemented light is essential. They are significantly used in applications such as indoor gardening, horticulture, food production, plant propagation, and aquatic plants. In addition to their usage at the industrial level, they also find use in households.
The advancements in LED technology have made it possible to create the perfect environment to grow vegetables at a large scale with less growing cycles and higher yields. For instance, one such characteristic is that the heat produced by LED grow lights is near zero, which has made indoor cultivation of vegetables more energy efficient. LEDs enhance the photosynthesizing process, which converts light into chemical energy at lower power, with higher efficiency and uniform light patterns and distribution.

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The Major Players Covered in this Report: Koninklijke Philips N.V, General Electric Company, OSRAM Licht AG, LumiGrow, Inc., Gavita Holland B.V., Thrive Agritech Inc., Heliospectra AB, Sunlight Supply, Inc., and Illumitex Incare among the key players in the grow lights market., & More...

By Technology, High Intensity Discharge, LED, Florescent,
By Application:, Vertical Farming, Indoor Farming, Commercial Greenhouse, Turf and Landscaping, Research, Others,
By Spectrum:, Partial Spectrum, Full Spectrum

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Growing Domestic Demand and Expanding Pharmaceutical Sector to Drive the Demand for Grow Lights in the APAC Region:
Asia-Pacific region is anticipated to hold the largest market share in the global Grow Lights market during the forecast period 2021-2029. The growth in this region can be attributed to the presence of emerging economies like India, China, Japan, Vietnam, and Indonesia, which account for the largest share in this region. India is one of the largest producers of Grow Lights and a major exporter of the product to various countries across the globe. India accounts for around 80% of the world’s exports of Grow Lights. The favorable climatic conditions and growth of agricultural inputs and allied services like cold storage and warehousing in India are prompting higher production.

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Recent Developments:
In 2017, Agrivolution, an agri-technology company, integrated LED grow lights into the company’s aeroponic vertical farming systems. The target was to grow pesticide-free fruits and vegetables all year. The selected LEDs were ultra-thin, lightweight triple-band bar-type and generates balanced full spectrum light while reducing energy usage.

Grow lights are also used in stadiums as well. SGL B.V., located in the Netherlands, introduced a stadium-integrated grow lighting system with six mobile HPS grow lighting units, which can span 70m width of a pitch. The units are fully integrated into the construction of the Tottenham Hotspur Stadium, home of Premier League football club Tottenham Hotspur. This system provides full-pitch lighting at once without any pressure on the pitch. Therefore, it is estimated that grow lights will find more applications in the coming years.

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