Global Grow Lights Market Dynamics
The explosive growth rate of the global population resulting in an increased demand for food and resources has made the human mind come up with innovative ideas like vertical and rooftop farming. Estimates show that by 2050, more than 80% of the world's population (which would have increased by 3 billion by then) would be living in urban areas, which is a clear indication of how important an invention vertical farming is. These revelations have led to a hike in the number of plant factories around the world, hence driving the global grow lights market. The requirement for species-specific lighting conditions in research and development laboratories has also had a significant impact on the market.
Research shows that LED grow lights market have the most untapped potential because of the low maintenance and running costs and the wide range of customization and flexibility that LEDs have to offer. Our analysts observed that the European markets have shown maximum improvements in the global grow lights market and is one to watch out for.
Global Grow Lights Market Segmentation
The global grow lights market is segmented on the basis of technology used (HID lights, fluorescent lights, LEDs, LEPs, induction lights), type of installation (new installation, retrofit installation), applications (indoor farming, vertical farming, commercial greenhouses, rooftop farming, and others), and by geography.
Key Players in the Global Grow Lights Market
Some of the major players discussed in this report are â€“
- Royal Philips Electronics
- General Electric Company
- Alta LED Corporation
- PARsource Lighting Solutions
- OSRAM Licht AG
What the report offers
- Market definition for global grow lights market along with identification of key drivers, restraints, and opportunities for the market.
- Market analysis for the global grow lights market, with region specific assessments and competition analysis on a regional scale.
- Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies which can influence the market on a regional scale.
- Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market shares.
- Identification and analysis of the macro and micro factors that affect the global grow lights market on the global and regional scale.
- A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
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1.1 Study Deliverables
1.2 Market Definition
1.3 Key Findings of the Study
2. Research Methodology
3. Executive Summary
4. Market Overview
4.2 Industry Value Chain Analysis
4.3 Porter's Five Forces Analysis
4.3.1 Industry Competition
4.3.2 Potential of New Entrants
4.3.3 Power of Suppliers
4.3.4 Power of Customers
4.3.5 Threat of Substitute Products
4.4 Opportunistic and Attractive Investment Segment
5. Market Dynamics
5.2.1 Need for Sustainable Development
5.2.2 Crop-Specific Wavelength and Intensity Customization
5.2.3 Increasing Number of Plant Factories
5.2.4 Emergence of Vertical Farming Methods
5.3.1 High Setup Cost and High Maintenance Cost Trade-Off
5.3.2 Constant Monitoring from the Providers is Rrequired
5.4.1 Untapped Potential of LEDs
5.4.2 Legalisation on Growing Marijuana in North America for Medical and Recreational Purposes
5.5 Market Trends and Projections
6. Technology Snapshot
7. Market Segmentation
7.1 By Technology
7.1.1 High Intensity Discharge (HID) Lights
184.108.40.206 Metal Halide (MH)
220.127.116.11 Ceramic Metal Halide (CMH, CDM, LEC)
18.104.22.168 Combination MH and HPS (Dual arc)
22.214.171.124 High Pressure Sodium (HPS)
126.96.36.199 Conversion Bulbs
188.8.131.52 Switchable Ballasts
7.1.2 Light Emitting Diodes (LEDs)
7.1.3 Fluorescent Lights
184.108.40.206 Tube-Style Fluorescent Lights
220.127.116.11 Compact Fluorescent Lights (CFLs)
7.1.4 Light Emitting Plasma Grow lights (LEPs)
7.1.5 Induction Lights
7.2 By Type of Installation
7.2.1 New Installation
7.2.2 Retrofit Installation
7.3 By Applications
7.3.1 Indoor Farming
7.3.2 Vertical Farming
7.3.3 Commercial Green Houses
7.3.4 Rooftop Farming
7.4 By Geography
7.4.1 North America
18.104.22.168 Rest of North America
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
188.8.131.52 Rest of APAC
7.4.4 Rest of the world
184.108.40.206 Middle East
220.127.116.11 South America
8. Vendor Market Share Analysis
9. Competitive Intelligence- Company Profiles
9.1 Royal Philips Electronics
9.2 General Electric Company
9.3 Alta LED Corporation
9.5 PARsource Lighting Solutions
9.8 OSRAM Licht AG
9.9 Illumitex Inc.
9.11 LED Hydroponics
10. Investment Analysis
10.1 Recent Mergers and Acquisitions
10.2 Investment Scenario and Opportunities
11. Future of the Grow Lights Market