Global livestock grows lights market is expected to reach USD 10.8 Billion by 2025 at a CAGR of 8.6% during the forecast period from 2018-2025. Increased consumption of livestock-based products and focus on the growth of livestock to increase livestock productivity are two major drivers boosting the growth of the market.
Livestock means domestic animals which are tamed in an agricultural setting to produce labor and commodities such as meat, eggs, milk, fur, leather, and wool. A grow light or lamp is defined as an electric lamp which operates as an artificial source of light to propel the growth in plants. Adoption of animal-based products and smart livestock farming practices and increasing focus on livestock growth and welfare are two factors affecting the growth of the market. For instance, in October 2016, HATO BV (Netherlands) launched BUBO, tubular lighting for cage housing and aviaries to provide appropriate light for proper feed and water intake.
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- The base year for the study has been considered 2017, the historic year 2015 and 2016 and, the forecast period considered is from 2018 to 2025. The livestock grows lights market is analyzed by value (USD Billion) and volume (Thousand Units).
- The study delivers a comprehensive analysis of global livestock grow lights market by type, livestock, light color type, installation type, and regions.
- The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2018 to 2025.
- Porter’s Five Forces model is used to recognize the competitive scenario in the livestock grow lights to market. This report incorporates the industry analysis which is focused on providing an extensive view of the livestock grow lights to market.
- The study also includes attractiveness analysis of type, livestock, light color type, installation type, and regions which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunity for understanding the future growth of the market.
- The report provides company profile of the key players operating in the Livestock Grow Lights market and a comparative analysis based on their business overviews, industry, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.
- The market estimates have been evaluated by considering the effect of different political, economic, social, technological and legal factors which are based on our extensive secondary research, primary research, and in-house databases.
- Rising consumption of livestock-based products
- Technological improvements and use of smart livestock farming practices
- Inclination over livestock growth to increase livestock productivity
- Lack of knowledge of smart technology for livestock farming in developing countries
- The growing number of commercial livestock farms across the globe.
- Cost of fixing LED lights in livestock farms is too high
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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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