DUBLIN, May 24, 2016 /PRNewswire/ --
Research and Markets has announced the addition of the "Global Grow Lights Market 2016-2020" report to their offering.
The global grow lights market to grow at a CAGR of 11.7% during the period 2016-2020.
The report covers the present scenario and the growth prospects of the global grow lights market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of LED, fluorescent, high pressure sodium, incandescent and halogen grow lights. The report also includes a discussion of the key vendors operating in this market.
Grow lights can be efficiently used to grow crops and vegetables even if they are out of season. However, these plants would require supplemental lighting for photosynthesis, which may not be available naturally in a particular location or season. For this purpose, there are types of grow lights available that produce specialized types of light to benefit plants in different stages in their lives.
A notable trend in this market is the growing popularity of solar-powered LED grow lights. LED grow lights provide more light than traditional indoor lighting systems or even natural sunlight, speeding up the development of plants. They also save energy and cut costs by 50% in comparison to traditional lighting. In addition to the all these benefits, the heat emitted by light sources also impacts plant growth and installation charges of indoor farming units.
According to the report, a key driver for this market is the rise in plant factories. A plant factory (PF) is indoor vertical farming where plants are grown in shelves that are stacked one on another under artificial lights. In this environment, all the elements needed for plant growth are artificially controlled, and the process involved removes detrimental influences such as pesticides and poor weather conditions. Hence, these indoor farming units can be set up in regions with extreme weather conditions, including the desert or drought stricken areas.
Further, the report states that the need for continuous support and maintenance from developers can have an adverse impact on the sales of grow lights.
- Royal Philips
- PARsource Lighting Solutions
Other prominent vendors
- EYE HORTILUX
- LED Hydroponics
- Twilight Group
Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
For more information visit http://www.researchandmarkets.com/research/xqffnr/global_grow
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SOURCE Research and Markets