Global Grow Lights Market Overview:
Grow lights units comprises of an array of LEDs which are specifically designed for horticultural applications which contains different types of LEDs along with different output power and wavelengths for required light spectrum & intensity for different types of plats for their growth. In addition, these lights are used for reducing the farming costs for indoor farming and farming in remote locations where the natural light is not sufficient for plants to grow properly. Increasing greenhouse plantation activities, increasing government initiatives to support LED lightings for agricultural purposes, increasing commercial greenhouse practices and indoor farming across different regions are some of the major factors aiding into the growth for gow light market.
- Growing Commercial Greenhouse Practices & Urban Agriculture
- Growing Demand for Supplemental Light for Farming in Remote Areas
- Growing Awareness for Indoor Farming
- Government Initiatives to Adopt Energy Efficient Technologies for Farming & Agriculture
- Rising Shift Towards LED Lighting Over Traditional Lighting
- Introduction of Smart Grow Lights with Wireless Control Feature
- High Energy Consumption and Heat Emission in HID Lamps
- The Legalisation of Cannabis Farming in North America
- Lack of Awareness Among End Users
- High Initial Cost for Installation
Vendors in this market are developing innovative grow light solutions for specific application requirements in order to cater to the growing market demands. For instance, in February 2019, Osram launched Phytofy RL LED-based plant luminaire system for researchers for plant production in the greenhouse and vertical farms applications.
Some of the key players profiled in the report are General Electric Company (United States), LumiGrow (United States), Heliospectra AB (Sweden), Hortilux Schréder b.v. (The Netherlands), Gavita International B.V. (The Netherlands), OSRAM GmbH (Germany), Signify Holding (The Netherlands), Illumitex (United States), Platinum LED Lights LLC (United States), Hyperion Grow Lights (United Kingdom) and Kind LED Grow Lights (United States). Analyst at AdvanceMarketAnalytics see United States Vendors to retain maximum share of Global Grow Lights market by 2025. Considering Market by Installation, the sub-segment i.e. New will boost the Grow Lights market. Considering Market by Power, the sub-segment i.e. Low Power will boost the Grow Lights market. Considering Market by Spectrum, the sub-segment i.e. Full Spectrum will boost the Grow Lights market.
In July 2019, General Electric Company announced Hort Americas as its sole distributor for LED horticulture lighting solutions across North America
In July 2019, LumiGrow announced the launch of their new product line of vertical grow light solution 'BarLight' which is designed for high-density cannabis cultivation
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
** Confirmation on availability of data would be provided prior to purchase
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Grow Lights market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Grow Lights market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.