The global livestock grow lights market size is estimated to reach USD 10.4 billion by 2025, growing at a CAGR of 6.8% from 2019 to 2025, according to the new report conducted by Grand View Research, Inc. Increasing adoption of smart technology for domestic animal farming and consumption of meat, eggs, and milk is expected to drive the growth of the market. Increasing number of domestic animals, especially in developing economies such as India, China, and Brazil is subsequently necessitating building of new livestock farms. This is driving demand for new installation of grow lights in these countries.
The traditional incandescent light bulbs are increasingly getting replaced by LEDs, which is helping to decrease greenhouse gas emissions. Additionally, LED lights do not generate hazardous waste. Thus, there is an increase in the adoption of LEDs. India has joined other countries such as China and Japan, in achieving a rapid shift to LEDs. Under the new initiative ‘The Domestic Efficient Lighting Program,’ India has distributed around six crores LED bulbs. This initiative has resulted in saving of around 1.8 gigawatts of electricity in the past year.
In addition, the governments across countries such as India and the U.S. are taking initiatives for an increase in domestic animal production. This, in turn, is expected to have positive impact on demand for grow lights. For instance, the Government of India is taking efforts to strengthen the infrastructure required for the production, processing, procurement, and marketing of quality milk under the dairy development schemes such National Dairy Plan (Phase-I), National Programme for Dairy Development (NPDD), Dairy Processing and Infrastructure Development Fund (DIDF).
To Know More About Livestock Grow Lights Market, Access Sample Report @ https://www.grandviewresearch.com/industry-analysis/livestock-grow-lights-market/request/rs1
The prominent players operating in the market include Signify Holding (U.K.); HATO BV (Netherlands); Big Dutchman (Germany); OSRAM GmbH (Germany). The market players are mostly focusing on merger and acquisition in order to provide a significant lighting system for animal barns.
Further key findings from the report suggest:
- Increasing adoption of LED lights in livestock farms is expected to drive the market over the forecast period. LED lights are energy-efficient with one-fifth of the power consumption of incandescent light bulbs
- The cattle segment dominated the market in terms of revenue in 2018. The grow lights in the cattle farms help increase the productivity of milk from dairy cattle
- The new installation segment is expected to witness the highest CAGR over the forecast period owing to the rising livestock population, especially in regions such as Asia Pacific and Europe
- North America held considerable livestock grow lights market share in 2018 owing to early and relatively greater adoption of advanced technologies such as LED lighting in the livestock sector
- The players operating in the market include Once Inc. (U.S.); DeLaval Inc. (Sweden); and Greengage Lighting and Agri-tech (U.K.).
Browse Details of Report, Please Visit @ https://www.grandviewresearch.com/industry-analysis/livestock-grow-lights-market
Grand View Research has segmented the global livestock grow lights market based on type, livestock, installation type, light color type, and region:
Livestock Grow Lights Type Outlook (Revenue, USD Million, 2014 – 2025)
- High-Intensity Discharge
Livestock Grow Lights Livestock Outlook (Revenue, USD Million, 2014 – 2025)
Livestock Grow Lights Installation Type Outlook (Revenue, USD Million, 2014 – 2025)
Livestock Grow Lights Color Type Outlook (Revenue, USD Million, 2014 – 2025)
Key Topics Covered
Table of Content
Chapter 1. Methodology and Scope
1.1. Market segmentation and scope
1.2. Market definition
1.3. Information procurement
1.3.1. Purchased database
1.3.2. GVR’s internal database
1.3.3. Secondary sources and third-party perspectives
1.3.4. Primary research
1.4. Information analysis
1.4.1. Data analysis models
1.5. Market formulation and data visualization
1.6. Data validation and publishing
Chapter 2. Executive Summary
2.1. Market outlook
2.2. Segmental outlook
Chapter 3. Market Variables, Trends, and Scope
3.1. Market Lineage outlook
3.1.1. Parent market outlook
3.1.2. Related/ancillary market outlook
3.2. Livestock Grow Lights Market Dynamics
3.2.1. Market driver analysis
3.2.2. Market restraint analysis
3.2.3. Market opportunity analysis
3.2.4. Market challenge analysis
3.3. Penetration and Growth Prospect Mapping
Browse Related Reports :
Grow Light Market By Application (Indoor Farming, Vertical Farming, Commercial Greenhouse), By Product, By System, By Technology, By Installation, By Spectrum, And Segment Forecasts, 2018 – 2025:
Vertical Farming Market By Offering (Lighting, Climate Control), By Growing Mechanism (Hydroponics, Aquaponics), By Structure, By Fruits, Vegetables & Herbs, And Segment Forecasts, 2019 – 2025:
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1-415-349-0058, Toll Free: 1-888-202-9519
Address:201, Spear Street, 1100
City: San Francisco
Country: United States