Global Grow Lights Market to Grow at a CAGR of 12.60% to 2021

MarketResearchNest.com adds “Global Grow Lights Market 2017-2021” new report to its research database. The report spread across 86 pages with table and figures in it.

Research analysts forecast the global grow lights market to grow at a CAGR of 12.60% during the period 2017-2021.

About Grow Lights

Lights that are used in a wide range of farming-related applications are called grow lights. This is because they help with the artificial growth of plants. Some of the advantages of using grow lights include high reliability, spectral intensity, and low power consumption. With rapid rise in vertical farming and greenhouse practices around the globe, the use of different grow lights is also simultaneously increasing. This is contributing to the overall growth of the market. The crops considered for the scope of the report include fruits, vegetables, flowers, and ornamental plants.

Covered in this report

The report covers the present scenario and the growth prospects of the global grow lights market for 2017-2021. To calculate the market size, the report considers the value sales of grow lights.

Browse full table of contents and data tables at https://www.marketresearchnest.com/global-grow-lights-market-2017-2021.html

The market is divided into the following segments based on geography:

Americas

APAC

EMEA

Technavio’s report, Global LED Agricultural Grow Lights Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Technavio Announces the Publication of its Research Report – Global Grow Lights Market 2017-2021

Technavio recognizes the following companies as the key players in the global grow lights market: Philips Lighting Holding, GENERAL ELECTRIC, OSRAM Licht, Gavita International, and LumiGrow.

Other Prominent Vendors in the market are: Heliospectra, SolarMAX, PARsource, Transcend Lighting, EYE HORTILUX, Twilight Group, Lemnis Oreon, and Kessil.

Commenting on the report, an analyst from Research team said: “The latest trend gaining momentum in the market is Advent of urban farming. Growing fruits and vegetables in and around home and garden spaces is a global booming trend. Several companies are coming up with hanging bags, pull out drawers with grow lights attached to them, or even racks attached with grow lights that enable farming in the kitchen area. Advances in urban farming have led companies such as Grove Labs to pilot hydroponic fridges designed to grow vegetables at homes or small commercial kitchens.”

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According to the report, one of the major drivers for this market is Rise in indoor farming practices. The importance of building a secure and consistent food supply facility is becoming increasingly important with the expansion of the global population. This is because the amount of arable land and water to support traditional agriculture practices is dwindling. Traditional agricultural practices are tied to locations that possess sufficient land and water. The need for indoor farming is further increasing. This is because this practice is decoupled from such needs, leading it to be closer to the point of end consumption. Some of the diverse types of indoor agriculture facilities include an aeroponic greenhouse, indoor vertical farm, aquaponic greenhouse, soil-based greenhouse, container farm, in home systems, and hydroponic greenhouses. Thus, with the advent of distinct types of indoor facilities along with growing population and urbanization, farmers are coming up with indoor facilities closer to urbanized areas to enable local, stable, and sustainable year-round food supply.

Further, the report states that one of the major factors hindering the growth of this market is Drawbacks associated with grow lights. Grow lights are being widely used due to the rapid expansion of indoor farming practices all over the globe. Indoor farming facilities cannot be run without the use of these lights. These lights are currently used even in households to help consumers cultivate their own food. Thus, the need for grow lights is expected to increase at an exponential rate in the future. However, they still do pose a few challenges. For instance, the light emanating from grow lights is focused on small areas. The high purchasing cost of these lights, particularly LED lights is another challenge that growers face.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Key questions answered in this report: What will the market size be in 2021 and what will the growth rate be; What are the key market trends; What is driving this market; What are the challenges to market growth; Who are the key vendors in this market space; What are the market opportunities and threats faced by the key vendors; What are the strengths and weaknesses of the key vendors;

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