Grow Lights Market Manufacturers, Scope, Market Trends, Analysis and Forecasts 2018-2022

1. Grow Lights Market Manufacturers, Scope, Market Trends, Analysis and Forecasts 2018-2022 “The grow lights market has been segmented into high-intensity discharge (HID), fluorescent lighting (FL), light emitting diode (LED), and other lighting technologies (induction and plasma lighting).” The Grow Lights Market is expected to grow at a CAGR of 11.86 % between 2017 and 2022 to be valued at USD 5.11 billion by 2022. Grow lights, especially LEDs are used in a wide range of farming-related applications, owing to the advantages they offer such as high reliability, low power consumption, and spectral intensity. The increasing commercial greenhouse and vertical farming practices, which require the use of different grow lights, are driving the growth of the overall grow lights market. This market is segmented on the basis of technology, installation, application, spectrum, and geography. The applications include vertical farming, indoor farming, commercial greenhouse, turf and landscaping, and research. Among all these applications, commercial greenhouse held the largest market share in 2016. On the basis of technology, the grow lights market has been segmented into high-intensity discharge (HID), fluorescent lighting (FL), light emitting diode (LED), and other lighting technologies (induction and plasma lighting). Traditional lighting technologies such as high-intensity discharge (HID) and fluorescent lighting (FL) are quite popular among commercial growers as well as hobbyists. LED grow light is a new technology in horticultural lighting and is proving to be far more effective than other lighting technologies. Though LED grow lights are expensive, their long-term benefits in terms of energy efficiency make them an ideal option for indoor plant cultivation. Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownload.asp?id=68944493

2. The grow lights market, on the basis of installation, has been segmented into retrofit and new installations. The market for retrofit installations is likely to hold a larger market share in the coming years. In the context of the grow lights market, retrofitting is defined as removing an existing grow light and installing a new one, either of the same lighting technology or of a different lighting technology. New installations are generally characterized by the expansion of existing facilities or setting up of a new facility, such as a new greenhouse or a vertical farm. Retrofit installations to lead the grow lights market in the coming years Retrofit installations held a major share of the grow lights market than new installations in 2016. Retrofitting is generally performed in grow lights when the light intensity drops below the desired levels after regular usage, or when grow lights suffer any failure or damage during operations. Growers may retrofit their old grow lights with new ones of any technology to ensure that their plants get the required amount of light to grow. Hence, when the light intensity decreases, the grow lights are required to be retrofitted immediately. The introduction of new grow light technologies such as LED, plasma, and induction has provided the growers with more options to choose from, while retrofitting their grow light systems. LED grow lights offer variable spectrums that make them suitable for a large number of plants. As a result, this technology is being preferred by the growers for most of the applications. Market for vertical farming to witness a high growth in the near future Vertical farming is an emerging application for grow lights, which is quite similar to indoor farming. The main difference between the two is that indoor farming is carried out on a single level, whereas vertical farms have two or more levels of growing equipment. Vertical farming allows the growing of more number of plants within a single enclosed structure, with the use of artificial lightings and Controlled Environment Agriculture (CEA) methods. These plant factories can be built to produce fruits and vegetables throughout the year, within urban establishments. As a result, the city dwellers can get fresh produce at competitive prices, and it can also become a source of revenue from unused real-estate. Consequently, the market for vertical farming applications is expected to exhibit a high growth in the coming years. Request Sample Copy of this Market Research @ https://www.marketsandmarkets.com/requestCustomization.asp?id=68944493 Europe held the largest share of the grow lights market in 2016 Europe was the leading market for grow lights in 2016. Within Europe, the Netherlands is a leading exporter of horticultural produce, grown within its numerous automated commercial greenhouses. The concept of vertical farming is also gaining popularity in Europe. The rising population in Europe is a major driver for the increasing need to practice indoor horticulture in this region. Also, the severe cold in winters and insufficient sunlight in parts of Europe mandates indoor growing with the help of artificial lightings.

3. Some of the major companies such as Royal Philips (Netherlands) and Osram Licht AG (Germany) are also responsible for the dynamic growth of the grow lights market in Europe. This region has always been at the forefront at utilizing artificial lighting to accelerate the growth of plants in greenhouses. About MarketsandMarkets MarketsandMarkets provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 stomers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Contact: Mr. Shelly Singh MarketsandMarkets INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA : 1-888-600-6441 Email:sales@marketsandmarkets.com