DUBLIN, April 14, 2020 /PRNewswire/ -- The "Grow Light Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025" report has been added to ResearchAndMarkets.com's offering.
The global grow light market reached a value of US$ 3.65 Billion in 2019. Looking forward, the market is projected to reach levels worth US$ 7.13 Billion registering a CAGR of 11.7% during 2020-2025.
Significant growth in the agricultural sector is one of the key factors driving the growth of the market. Furthermore, widespread adoption of vertical and indoor farming practices is also providing a boost to the market growth.
The hydroponic farming systems use multiple grow lights to maintain an adequate amount of sunlight and protecting the plants from damage caused by insects and pests. Additionally, the rising demand for food as a result of the increasing population, coupled with the limited availability of cultivable land, is also impacting the product demand positively.
Grow lights aid in maintaining the optimal yield and plant quality, thereby meeting the steadily rising food demand across the globe. Apart from this, various technological advancements, including the development of smart grow lights integrated with the Internet of Things (IoT), are acting as another growth-inducing factor.
Other factors, including various innovations in the field of agricultural sciences and the implementation of favorable government policies, are projected to drive the market in the upcoming years.
The competitive landscape of the industry has also been examined with some of the key players being Epistar, Everlight Electronics, Gavita International B.V., General Electric Company, Heliospectra AB, Illumitex Inc., LumiGrow, Osram Licht AG, Shenzhen Juson Technology Co. Ltd., etc.
Key Questions Answered
- How has the global grow light market performed so far and how will it perform in the coming years?
- What are the key regional markets?
- What is the breakup of the market based on the technology?
- What is the breakup of the market based on the installation type?
- What is the breakup of the market based on the spectrum?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the market?
- What is the structure of the global grow light market and who are the key players?
- What is the degree of competition in the market?
Key Topics Covered
2 Scope and Methodology
3 Executive Summary
4.2 Key Industry Trends
5 Global Grow Light Market
5.1 Market Overview
5.2 Market Performance
5.3 Market Forecast
6 Market Breakup by Technology
7 Market Breakup by Installation Type
7.1 New Installations
7.2 Retrofit Installations
8 Market Breakup by Spectrum
8.2 Partial Spectrum
9 Market Breakup by Application
9.1 Indoor Farming
9.2 Vertical Farming
9.3 Commercial Greenhouse
9.4 Turf and Landscaping
10 Market Breakup by Region
10.1 North America
10.4 Latin America
10.5 Middle East & Africa
11 SWOT Analysis
12 Value Chain Analysis
12.2 Research and Development
12.3 Raw Material Procurement
13 Porters Five Forces Analysis
13.2 Bargaining Power of Buyers
13.3 Bargaining Power of Suppliers
13.4 Degree of Competition
13.5 Threat of New Entrants
13.6 Threat of Substitutes
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
188.8.131.52 Company Overview
184.108.40.206 Product Portfolio
14.3.2 Everlight Electronics
14.3.3 Gavita International B.V.
14.3.4 General Electric Company
14.3.5 Heliospectra AB
14.3.6 Illumitex Inc.
14.3.7 Koninklijke Philips N.V.
14.3.9 Osram Licht AG
14.3.10 Shenzhen Juson Technology Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/abdrn7
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