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Livestock Grow Lights Market to Grow by USD 2.16 Billion During 2019-2023 | Technavio

May 28, 2019
Technavio has published a new market research report on the global livestock grow lights from 2019-2023. (Graphic: Business Wire)

LONDON--(BUSINESS WIRE)--May 28, 2019--

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).

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Technavio has published a new market research report on the global livestock grow lights from 2019-2023. (Graphic: Business Wire)

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 the 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 the 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 cos-efficient lighting solution for pig farms and other habitats required for the rearing of poultry and cattle.

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

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

About Technavio

Technavio is a leading global technology research and advisory company. It provides detailed market research reports that provide clients with actionable insights to help them identify market opportunities and design effective strategies to optimize their market position.

With over 500 specialized analysts, Technavio boasts of an extensive report library comprising of over 10,000 reports, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than a hundred Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets. Technavio helps companies to assess their competitive position within changing market scenarios.

If you are interested in more information, please contact our media team at media@technavio.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190528005648/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

www.technavio.com

KEYWORD:

INDUSTRY KEYWORD: TECHNOLOGY HARDWARE NATURAL RESOURCES AGRICULTURE

SOURCE: Technavio Research

Copyright Business Wire 2019.

PUB: 05/28/2019 12:55 PM/DISC: 05/28/2019 12:55 PM

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