LONDON--(BUSINESS WIRE)--The global livestock grow lights market is expected to post a CAGR of over 6% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
Faster production of livestock in lesser time is one of the major drivers for the global livestock grow lights market. Animals are greatly influenced by lighting with respect to their comfort, health, reproduction, and psychological behavior. Chickens and turkeys gain weight and show rapid improvement in health while cattle produce higher quantities of milk production with the proper use of livestock grow lights. The use of certain lights helps improve reproduction rates in animals. Daily light parameters such as sunset, sunrise, and seasons can be simulated by grow lights, which, in turn, aids in improving the production of livestock-based products. Thus, the rising emphasis on faster production in the livestock industry, will drive the demand for grow lights over the forecast period.
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As per Technavio, the development of energy-efficient livestock grow lights, will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Livestock Grow Lights Market: Development of Energy-Efficient Livestock Grow Lights
The development of energy-efficient livestock grow lights will be one of the critical trends in the global livestock grow lights market. High humidity and increased level of dust and ammonia are the adverse conditions often involved with livestock production. These factors pose a threat to modern lighting systems and encourage livestock grow light manufacturers to introduce damp-proof, ammonia-resistant, and energy-efficient lights. Many of these energy-saving damp-proof lights have a special coating which protects the light from dust and insects while reducing heating. This helps to maximize energy efficiency. These lights deliver a high lumen output which makes them a viable choice in optimizing livestock production and improving animal health and behavior. Therefore, rising initiatives toward the development of energy-efficient livestock grow lights will boost market growth.
“The availability of grow lights in different colors and the increase in number of commercial livestock farms are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Livestock Grow Lights Market: Segmentation Analysis
This market research report segments the global livestock grow lights market by product (fluorescent, LED, incandescent, and HID), type (cattle, poultry, swine, and others), and geographical regions (North America, Europe, APAC, South America, and MEA).
The APAC region led the market share in 2018, followed by North America, Europe, South America, and MEA respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market. This is due to the rising purchasing power of consumers and increased demand for animal products such as meat and eggs in the region. This will subsequently drive the demand for livestock grow lights in the region.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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