DUBLIN, Jan. 21, 2019 /PRNewswire/ --
The "Livestock Grow Lights Market by Type (Fluorescent, Light-Emitting Diode (LED), Incandescent, and Hid), Livestock (Cattle, Poultry, Swine, and Others), Installation Type (Retrofit and New Installation), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
Increase in the demand and consumption of animal-based products such as dairy and dairy-based products, meat, and eggs are projected to drive the overall growth of the livestock grow lights market.
The global livestock grow lights market size is projected to grow from USD 6.3 billion in 2018 to USD 8.6 billion by 2023, at a CAGR of 6.4% during the forecast period.
The livestock grow lights market is driven by various factors such as an increase in the demand and consumption of animal-based products, technological innovations and adoption of smart livestock farming practices, and rising focus on livestock growth and welfare together with the emphasis on livestock productivity. However, lack of awareness about the adoption of smart technology for livestock farming in developing countries is projected to hinder the growth of the market.
The fluorescent segment dominates the livestock grow lights market in 2018.
The fluorescent segment is estimated to hold the largest share in 2018, in terms of value. Fluorescent tubes radiate light outward evenly over the broad areas and are considered suitable for barns and livestock indoor arenas. With the introduction of fluorescent lighting, significant proportions of incandescent lights are replaced as they consume 70-80% less electricity and have 10 times longer lifespan. Furthermore, low-cost features compared to LEDs and better performance than incandescent and high-intensity discharge lamps is projected to dominate the fluorescent segment.
The cattle segment is projected to hold the largest market share during the forecast period.
The rising demand for dairy and dairy-based products includes milk, cheese, yogurt, and butter in both, the developed and developing countries, which is projected to drive the demand for grow lights in cattle farms. Dairy cattle only produce milk after they give birth to young ones, therefore, to produce milk they need to give birth at least to one calf per year. Thus, to obtain a large amount of milk from them, appropriate lighting is very important, to improve the output of milk from dairy cattle. Furthermore, for beef cattle grow lights are used to stimulate muscle growth to increase meat production.
Europe is projected to be the fastest-growing region in the livestock grow lights market, in terms of value.
The market in Europe is projected to be the fastest-growing, due to higher adoption of smart technologies to increase farm profits and expand dairy and beef herd size and increasing demand for high-quality dairy-based products and beef. As a result, the market is projected to grow at the highest CAGR during the forecast period, in terms of value. In addition, this region records strong economic growth, which creates high capital investment opportunities. Large farm owners have already adopted smart technologies in their farm to increase their farm profits, while small farm owners are focusing on adopting smart technologies in livestock farms due to their lower investment.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Livestock Grow Lights Market
4.2 Livestock Grow Lights Market: Major Countries
4.3 Asia Pacific: Livestock Grow Lights Market, By Type & Country
4.4 Livestock Grow Lights Market, By Livestock & Region
4.5 Market, By Type & Region
4.6 Market, By Installation Type
5 Market Overview
5.2 Market Dynamics
184.108.40.206 Increase in Demand and Consumption of Livestock-Based Products
220.127.116.11 Technological Innovations and Adoption of Smart Livestock Farming Practices
18.104.22.168 Rise in Focus on Livestock Growth and Welfare Together With the Emphasis on Livestock Productivity
22.214.171.124 Lack in Awareness About the Adoption of Smart Technology for Livestock Farming in Developing Countries
126.96.36.199 Increase in the Number of Commercial Livestock Farms, Globally
188.8.131.52 High Cost Associated With Fixtures of LED Lights in Livestock Farms
5.3 Value Chain: Livestock Grow Lights Market
6 Livestock Grow Lights Market, By Type
6.2 Light-Emitting Diode (LED)
6.2.1 High Energy Efficiency With Low Maintenance Cost Propels the Market Growth for LED
6.3.1 Low Cost of Fluorescent Lighting has Driven the Growth of This Market Segment
6.4.1 Discontinued Usage of Incandescent Lights in Livestock Farms
6.5 High-Intensity Discharge (Hid)
6.5.1 these Lights are Not Suitable for Short Period of Lighting Operations
7 Livestock Grow Lights Market, By Livestock
7.2.1 The Increasing Consumption of Chicken & Egg is Projected to Encourage Poultry Farming, Which in Turn is Projected to Drive the Market Growth
7.3.1 The Rising Demand for Milk-Based Products in Emerging Economies is Projected to Drive the Growth of the Livestock Grow Lights Market
7.3.2 Dairy Cattle
7.3.3 Beef Cattle
7.4.1 Rising Consumption of Pork Propels the Market Growth for Livestock Grow Lights
8 Livestock Grow Lights Market, By Installation Type
8.2.1 Low Cost of Retrofit is Driving the Market
8.3 New Installation
8.3.1 Expansion of Farms to Propel New Installation for the Livestock Grow Lights Market
9 Livestock Grow Lights Market, By Light Color Type
10 Livestock Grow Lights Market, By Region
11 Competitive Landscape
11.2 Competitive Scenario
11.3 Ranking of Key Players, 2018
11.4 New Product Launches
11.4.2 Agreements and Partnerships
12 Company Profiles
12.2 Signify Holding
12.4 Big Dutchman
12.5 Uni-Light LED
12.6 Once Inc.
12.7 Agrilight BV
12.8 Aruna Lighting
12.9 HATO BV
12.10 Shenzhen Hontech-Wins
12.11 CBM Lighting
12.12 Fienhage Poultry Solutions
12.14 Enim UAB
12.15 Greengage Lighting
For more information about this report visit https://www.researchandmarkets.com/research/n3t32x/global_livestock?w=5
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