PUNE, India, March 4, 2016 /PRNewswire/ --
According to the new market research report "Grow Lights Market by Technology (HID, FL, LED, Others (Induction, Plasma)), Type Of Installation (New, Retrofit), Application (Indoor Farming, Commercial Greenhouse, Vertical Farming, Turf & Landscaping, Others), and Geography - Global Forecast to 2022", published by MarketsandMarkets, the market is expected to reach USD 4.19 Billion by 2022, at a CAGR of 9.63% between 2016 and 2022.
(Logo: http://photos.prnewswire.com/prnh/20160303/792302 )
Browse 69 Tables and 54 Figures spread through 144 Pages and in-depth TOC on "Grow Lights Market".
http://www.marketsandmarkets.com/Market-Reports/grow-lights-market-68944493.html
Early buyers will receive 10% customization on this report.
Factors which are driving the grow lights market include the rise of vertical farms in urban establishments, legalization of marijuana cultivation in North America, and the need to install energy efficient and long-lasting lighting technology to accelerate plant growth in horticultural applications.
LED technology to hold the largest share in the grow lights market
The LED technology is witnessing a significant evolution in horticultural applications and the R&D is aimed at introducing grow lights that can cover the entire photosynthetically active radiation (PAR) range. The light spectrum emitted by these LEDs can be adjusted to suit the different types of plants, which allows the growers more flexibility in plant selection. Moreover, these lights offer an improved energy-efficiency over conventional lighting technologies and also a longer operational life of around three to five years.
The market for the vertical farming is expected to grow at the highest growth rate
The concept of vertical farming is emerging across major urban centers and is expected to drive the demand for grow lights during the forecast period. It offers urban residents an access to fresh horticultural produce, without compromising on its taste or other quality aspects.
The grow lights market in Europe expected to hold the largest share during the forecast period
Europe has been a leading market for grow lights, especially for supplemental lighting in commercial greenhouses. The growers and lamp manufacturers in this region have used their experience in greenhouses to develop and deploy grow lights for indoor growing applications as well. The adoption of artificial lighting is particularly high in the Netherlands, and the Scandinavian countries, whereas the demand is increasing from other European countries.
Inquiry Before Buying: http://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=68944493
The major companies in the grow lights market include Royal Philips Electronics N.V. (Netherlands), General Electric Company (U.S.), Osram Licht AG (Germany), Gavita Holland B.V. (Netherlands), LumiGrow, Inc. (U.S.), Heliospectra AB (Sweden), Iwasaki Electric Co. Ltd. (Japan), Illumitex, Inc. (U.S.), Hortilux Schreder B.V. (Netherlands), iGrow Induction Lighting LLC. (U.S.) and Sunlight Supply, Inc. (U.S.) among others.
This research report categorizes the global grow lights market on the basis of technology, type of installation, application, and region. This report describes the drivers, restraints, opportunities, and challenges with respect to the grow lights market. The Porter's Five Forces analysis has been included in the report with a description of each of its forces and their respective impact on the grow lights market.
Browse Related Reports
Vertical Farming Market by Functional Device (Lighting, Hydroponic Component, Climate Control, and Sensors), Growth Mechanism (Aeroponics, Hydroponics, and Others) and by Geography - Global Forecast to 2020
http://www.marketsandmarkets.com/Market-Reports/vertical-farming-market-221795343.html
Smart Greenhouse Market by Technology (HVAC, LED Grow Light, Communication Technology, Irrigation System, Material Handling, Valves & Pumps, Control System, and Others), Type (Hydroponic, Non-hydroponic), and Geography - Forecast to 2020
http://www.marketsandmarkets.com/Market-Reports/smart-greenhouse-market-63166169.html
About MarketsandMarkets
MarketsandMarkets is world's No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Contact:
Mr. Rohan
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India
Tel: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit MarketsandMarkets Blog@ http://www.marketsandmarketsblog.com/market-reports/electronics-and-semiconductors
Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets
Share this article