Newark, NJ, Feb. 27, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global livestock grow lights market is expected to grow from USD 5.6 Billion in 2017 to USD 10.8 Billion by 2025 at a CAGR of 8.6% during the forecast period 2018-2025. Rising consumption of livestock-based products, technological improvements, use of smart livestock farming practices and inclination over livestock growth to increase livestock productivity are the factors driving livestock grow lights market.
Livestock means domestic animals which are tamed in agricultural setting to produce labor and commodities such as meat, eggs, milk, fur, leather, and wool. A grow light or lamp is defined as an electric lamp which operates as an artificial source of light to propel the growth in plants. In other words, livestock grow lights are artificial grow lights utilized in livestock farms for the improvement and development of animals. These lights are important for the development of animals, and it also effect the physiological reaction and solace of the Livestock. Adoption of animal-based products and smart livestock farming practices and increasing focus on livestock growth and welfare are two factors affecting the growth of the market. For instance, in October 2016, HATO BV (Netherlands) launched BUBO, tubular lighting for cage housing and aviaries to provide appropriate light for proper feed and water intake.
An increase in the consumption of livestock-based products is a major factor driving the market. Also, technological improvements and use of smart livestock farming practices is also fuelling the growth of the market. Inclination over livestock growth so as to increase livestock productivity is also another important factor. But lack of knowledge of smart technology for livestock farming in developing countries may hamper the growth of the market. However, growing number of commercial livestock farms across the globe will propel livestock grow lights market growth.
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Key players operating in the global livestock grow lights market include Agrilight BV, Aruna Lighting, Big Dutchman, CBM Lighting, Delaval, Enim UAB, Fienhage Poultry Solutions, Greengage Lighting, HATO BV, Once Inc., Osram, Shenzhen Hontech-Wins, Signify Holding, Sunbird and Uni-Light LED among others. To enhance their market position in the global livestock grow lights market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership.
- For instance, in June 2018, Once Inc. (US) announced the acquisition of iLOX GmbH (Germany) and its subsidiary iLOX Sp.z.o.o. (Poland) which would help the company to develop innovative lighting technologies for the livestock growing agricultural market with a special focus on animal welfare.
- The key players are focusing on product development and innovations as their key strategy to remain competitive in the market. For example, in January 2017, Once Inc. launched AgriShift HL-UVA which is a 3-Watt LED providing stimulus for feeding. In October 2016, Big Dutchman launched the first LED lamp with replaceable parts.
- For instance in September 2017, Aruna Lighting launched High Pressure Sodium (HPS) lamps and it is successfully tested with roses. This product has not only better quality but also long lifetime. Traditional sodium lighting is an important component in lighting installations, especially when the greenhouse climate is considered.
The Light-Emitting Diode (LED) segment is growing rapidly in the market with the highest CAGR of 10.8% in forecast period
The type segment is classified into fluorescent, Light-Emitting Diode (LED), incandescent and HID. The Light-Emitting Diode (LED) segment is growing rapidly in the market with the highest CAGR in forecast period as it saves huge amount of energy and is durable. It is more energy-efficient with one-fifth of the power consumption of incandescent bulbs.
Cattle segment valued around USD 2.12 Million in 2017
Livestock segment includes cattle, poultry, swine, and others. Cattle segment is dominating the market in 2017. In dairy farms, grow lights multiplies the productivity of milk from dairy cattle and helps to stimulate muscle growth to increase meat production.
The new installation segment held largest market share of 61.10% in 2017
Installation type segment is divided into segments such as retrofit and new installation. The new installation segment dominated the market in 2017. The expansion of farms propels the new installation for the livestock grow lights market
The blue color segment valued around USD 2.19 Million in 2017
The light color type segment includes green, red, white and blue. The blue color type segment dominated the market in 2017. LED grow lights provide a wide range of spectrum from blue to red that can be modified to the desired spectrum as per the spectral sensitivity of the livestock.
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Regional Segment Analysis of the Livestock Grow Lights Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
The regions analysed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. Asia-Pacific region dominated the global livestock grow lights market with USD 2.28 Billion in 2017 where as the Europe region is growing rapidly in the market. Asia-Pacific is dominating the market due to large livestock population. The increase in number of livestock farms and the rising size of existing farms have also contributed to the high market share. The Europe region is fastest growing region due to high implementation of smart technologies which have led to increased farm profits. The rising demand for high-quality dairy-based products and beef is also propelling the growth of European region.
About the report:
The global livestock grow lights market is analysed on the basis of value (USD Billion), volume (K Units), consumption (K Units), imports (K Units) and exports (K Units). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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