Global Grow Lights Market Report 2018: Analysis & Forecasts (2013-2023) - Market to Reach $5.95 Billion by 2023 - ResearchAndMarkets.com

DUBLIN--()--The "Grow Lights Market by Technology (HID, LED, Fluorescent), by Spectrum (Full, Partial), by Installation Type (New Installation, Retrofit), by Application, by Geography - Global Market Size, Share, Development, Growth and Demand Forecast, 2013-2023" report has been added to ResearchAndMarkets.com's offering.

Based on analysis, LED based grow lights have been the largest as well as the fastest growing market. Being an efficient technology, the demand of such modern solutions is further projected to increase during the forecast period. Full spectrum based grow lights has been growing at higher pace, as compared to the partial spectrum. Owing to surging urbanization in Asia-Pacific, the regional grow lights market is expected to become the second largest by 2023.

Koninklijke Philips N.V., and General Electric are the top two companies operating in the grow lights market. There exists a stiff competition among other key players like Osram Licht AG, Dool Industries, Heliospectra AB, and Illumitex Inc.

Market Dynamics

Trends

  • Commercial greenhouse farming switching from HPS to LED
  • Introduction of vertical cultivation in urban environments
  • Convergence of greenhouse farming and medicinal cultivation

Drivers

  • Growth in indoor and vertical farming
  • Increasing demand for grow lights growth chambers
  • Need of more economical grow light technology in cities
  • Increasing government support for adoption of LED lights
  • Impact analysis of drivers on market forecast

Restraints

  • High cost of decent quality grow lights
  • Requirement of varied light spectra for different crops
  • Impact analysis of restraints on market forecast

Opportunities

  • Legalization of growing cannabis in the U.S.
  • Advancements in the field of LED for optimizing photosynthesis
  • Emergence of horticultural lighting calculator and software

Key Topics Covered:

Chapter 1. Research Background

Chapter 2. Research Methodology

Chapter 3. Executive Summary

Chapter 4. Introduction

Chapter 5. Global Market Size and Forecast

Chapter 6. Europe Market Size and Forecast

Chapter 7. North America Market Size and Forecast

Chapter 8. Asia-Pacific Market Size and Forecast

Chapter 9. Middle-East & Africa Market Size and Forecast

Chapter 10. Latin America Market Size and Forecast

Chapter 11. Competitive Landscape

Chapter 12. Company Profiles

12.1 Koninklijke Philips N.V.

12.2 General Electric

12.3 Osram Licht AG

12.4 Illumitex Inc.

12.5 Heliospectra AB

12.6 Gavita International B.V.

12.7 Lumigrow Inc.

12.8 Iwasaki Electric Co., Ltd.

12.9 Dool Industries

12.1 Sunlight Supply Inc.

12.11 Hydrofarm Inc.

12.12 Fluence Bioengineering, Inc.

For more information about this report visit https://www.researchandmarkets.com/research/czt5bf/global_grow?w=4

Contacts

ResearchAndMarkets.com
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics: Crop Farming

Contacts

ResearchAndMarkets.com
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics: Crop Farming