The grow lights market was valued at USD 2.50 billion in 2016 and is likely to grow at a CAGR of 11.86% between 2017 and 2022.
The key factors driving the growth of the market include growth in indoor farming practices, government initiatives to encourage the adoption of solid state lighting (SSL) technology such as LED, and rising demand for energy-efficient and long lasting grow lights technology. However, the high costs of energy-efficient grow lights are restraining the growth of this market.
Commercial greenhouses have witnessed increased automation in the last decade, and the concept of controlled environment agriculture (CEA) is being implemented in the greenhouses to maintain optimum growing conditions and obtain a higher yield. The growers are gradually realizing the potential benefits of cultivating plants inside a greenhouse; this has contributed to the development of commercial greenhouses. LED grow lights can be easily programmed and integrated into the CEA setup within a greenhouse. Hence, growers with greater investment capabilities have started shifting toward LED grow lights from conventional lighting systems.
- Gavita Holland B.V.
- General Electric Company
- Heliospectra AB.
- Hortilux Schreder B.V.
- Illumitex Inc.
- Iwasaki Electric Co., Ltd.
- Lumigrow Inc.
- Osram Licht AG
- Royal Philips
Sunlight Supply Inc.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Spectrum Used for Grow Lights
8 Grow Lights Market, By Installation
9 Grow Lights Market, By Technology
10 Grow Lights Market, By Application
11 Grow Lights Market, By Geography
12 Competitive Landscape
13 Company Profiles
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