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MarketersMEDIA / Newsroom / Global Grow Lights Market is expected to reach $9.72 billion by 2027 growing at a CAGR of 13.7% during 2018 to 2027.

Global Grow Lights Market is expected to reach $9.72 billion by 2027 growing at a CAGR of 13.7% during 2018 to 2027.

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Some of the key players in Global Grow Lights market include General Electric Company, Gavita Holland B.V., Iwasaki Electric Co., Ltd., Royal Philips Electronics BV, Heliospectra Ab., Illumitex Inc., Sunlight Supply Inc., Epistar Corp., Grow LED Hydro, and Signify NV.

— Some of the factors such as growth in indoor farming practices, increasing number of plant factories, and need for sustainable development among growers driving the market growth. However, huge costs of energy-efficient and better quality grow lights, and requirement of different light spectrums for different crops are restraining the market.

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A grow light is an artificial light source, generally an electric light, designed to stimulate plant growth by emitting a light appropriate for photosynthesis. Grow lights are used in applications where there is either no naturally occurring light or where supplemental light is required. Grow lights either attempt to provide a light spectrum similar to that of the sun, or to provide a spectrum that is more tailored to the needs of the plants being cultivated.

By technology, Light-Emitting Diode (LED) is estimated to have a lucrative growth because of the increase in demand for energy-efficient and economical grow lights among consumers and increasing government activities to support the adoption of LED lights over the globe.

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Based on geography, Asia Pacific is going to have a lucrative growth during the forecast period owing to the rapid growth in urban agriculture, such as vertical farming, greenhouses, and growth chambers. Countries, like Japan, Taiwan, and China are the major source of demand for grow lights in the region and are estimated to stay so over the forecast period.

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Spectrums Covered:
• Partial Spectrum
• Full Spectrum

Light Sources Covered:
• High-pressure Sodium (HPS)
• Fluorescent Lights
• Light Emitting Diodes
• Other Light Sources

Installations Covered:
• New Installations
• Retrofit Installations

Technologies Covered:
• High-intensity Discharge (HID) Lights
• Fluorescent Lighting
• Light-Emitting Diode (LED)
• High-Intensity Discharge
• Other Technologies

Applications Covered:
• Commercial Greenhouse
• Research
• Indoor Farming
• TURF and Landscaping
• Vertical Farming
• Other Applications

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o France
o Italy
o UK
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 9 years of all the mentioned segments, sub-segments, and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

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About Stratistics MRC
We offer a wide spectrum of research and consulting services with in-depth knowledge of different industries. We are known for customized research services, consulting services, and Full-Time Equivalent (FTE) services in the research world. We explore market trends and draw our insights with valid assessments and analytical views. We use advanced techniques and tools among the quantitative and qualitative methodologies to identify the market trends.

Our research reports and publications are routed to help our clients to design their business models and enhance their business growth in the competitive market scenario. We have a strong team with hand-picked consultants including project managers, implementers, industry experts, researchers, research evaluators and analysts with years of experience in delivering the complex projects.

Contact Info:
Name: James Lamb
Email: Send Email
Organization: Stratistics Market Research Consulting Pvt Ltd
Phone: +1-301-202-5929
Website: https://www.strategymrc.com/

Source URL: https://marketersmedia.com/global-grow-lights-market-is-expected-to-reach-972-billion-by-2027-growing-at-a-cagr-of-137-during-2018-to-2027/88936871

Source: MarketersMedia

Release ID: 88936871

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