Fior Markets launched a study titled “Global Livestock Grow Lights Market by Type (Fluorescent, Light-Emitting Diode (LED), Incandescent, HID), Livestock (Cattle, Others), Installation Type, Light Color Type, Region Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2025.
The global livestock grow lights market is expected to grow from USD 5.6 Billion in 2017 to USD 10.8 Billion by 2025 at a CAGR of 8.6% during the forecast period from 2018-2025. Technological improvements and use of smart livestock farming practices and inclination over livestock growth so as to increase livestock productivity are two factors stimulating the demand of the market.
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The Light-Emitting Diode (LED) segmentis growing rapidly in the market with the highest CAGR of 10.8% in forecast period
The type segment is classified into fluorescent, Light-Emitting Diode (LED), incandescent and HID. The Light-Emitting Diode (LED) segment is growing rapidly in the market with the highest CAGR in forecast period as it saves huge amount of energy and is durable. It is more energy-efficient with one-fifth of the power consumption of incandescent bulbs.
Cattle segment valued around USD 2.12 Million in 2017
Livestock segment includes cattle, poultry, swine, and others. Cattle segment is dominating the market in 2017. In dairy farms, grow lights multiplies the productivity of milk from dairy cattle and helps to stimulate muscle growth to increase meat production.
The new installation segment held largest market share of 61.10% in 2017
Installation type segment is divided into segments such as retrofit and new installation. The new installation segment dominated the market in 2017. The expansion of farms propels the new installation for the livestock grow lights market
The blue color segment valued around USD 2.19 Million in 2017
The light color type segment includes green, red, white and blue. The blue color type segment dominated the market in 2017.LED grow lights provide a wide range of spectrum from blue to red that can be modified to the desired spectrum as per the spectral sensitivity of the livestock.
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Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. Asia-Pacific held the largest market share of approximately40.80% in 2017.Asia-Pacific is dominating the market due tolarge livestock population. The increase in number of livestock farms and the rising size of existing farms have also contributed to the high market share
The major players of market include Agrilight BV, Aruna Lighting, Big Dutchman, CBM Lighting, Delaval, Enim UAB, Fienhage Poultry Solutions,Greengage Lighting, HATO BV, Once Inc., Osram, Shenzhen Hontech-Wins, Signify Holding, Sunbird and Uni-Light LED among others.
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