Livestock Grow Lights Market to Grow by $2.16 Billion by 2023
Technavio’s latest market research report on the global livestock grow lights market predicts the market to witness a CAGR of over 6% during the forecast period. This research report segments the market by product (fluorescent, LED, incandescent, HID), type (cattle, poultry, swine, and others), and geography (APAC, North America, Europe, South America, and MEA).
Development of energy-efficient livestock grow lights
Livestock production often involves adverse conditions, including high humidity and increased levels of dust and ammonia, which poses a threat to modern lighting systems as it reduces the life of the lighting products. This has encouraged 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 lights 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 the global livestock grow lights market during the next few years.
Fluorescent grow lights product segment will witness the highest share.
The fluorescent grow lights segment accounted for the highest market share due to their increased adoption as they have a longer shelf-life and last longer as compared to conventional lights. Fluorescent lamps are often classified into compact fluorescent lamps (CFL) bulbs, fluorescent tube lamps, and cold cathode fluorescent lights (CCFL). These lamps are popular among modern consumers as they use 75% less energy than incandescent bulbs and often last approximately 10 times longer than conventional bulbs.
“CCFLs often operate at lower temperatures and are compatible with different types of dimmers. In addition, fluorescent lights are increasingly being used as standard illumination for poultry production in the US owing to their high energy efficiency and longer lifespan when compared to conventional lights being used for livestock management,” says a senior research analyst at Technavio
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Livestock grow lights market to account for fastest growth in the APAC region.
Livestock plays a key role in economic development as it enhances the lives of farmers in emerging economies of the APAC region. In addition, the growth in disposable income and purchasing power among these economies will lead to an increase in the demand for animal products including eggs and meat. Therefore, the growing demand for livestock grow lights is directly proportional to livestock production in the region. The growing production of livestock in the emerging economies will boost the demand for grow lights which are emerging as a cost-efficient lighting solution for pig farms and other habitats required for the rearing of poultry and cattle.
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Some of the key topics covered in the global livestock grow lights market analysis include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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