TMCnet News
Livestock Grow Lights Market Size Worth $10.4 Billion by 2025 | CAGR: 6.8%: Grand View Research, Inc.SAN FRANCISCO, Jan. 21, 2020 /PRNewswire/ -- The global livestock grow lights market size is estimated to reach USD 10.4 billion by 2025, growing at a CAGR of 6.8% from 2019 to 2025, according to the new report conducted by Grand View Research, Inc. Increasing adoption of smart technology for domestic animal farming and consumption of meat, eggs, and milk is expected to drive the growth of the market. Increasing number of domestic animals, especially in developing economies such as India, China, and Brazil is subsequently necessitating building of new livestock farms. This is driving demand for new installation of grow lights in these countries.  Key suggestions from the report:
Read 110 page research report with ToC on "Livestock Grow Lights Market Size, Share & Trends Analysis Report By Type (Fluorescent, Incandescent, LED), By Livestock, By Installation Type, By Light Color Type, By Region, And Segment Forecasts, 2019 - 2025'' at: https://www.grandviewresearch.com/industry-analysis/livestock-grow-lights-market The traditional incandescent light bulbs are increasingly getting replaced by LEDs, which is helping to decrease greenhouse gas emissions. Additionally, LED lights do not generate hazardous waste. Thus, there is an increase in the adoption of LEDs. India has joined other countries such as China and Japan, in achieving a rapid shift to LEDs. Under the new initiative 'The Domestic Efficient Lighting Program,' India has distributed around six crores LED bulbs. This initiative has resulted in saving of around 1.8 gigaatts of electricity in the past year. In addition, the governments across countries such as India and the U.S. are taking initiatives for an increase in domestic animal production. This, in turn, is expected to have positive impact on demand for grow lights. For instance, the Government of India is taking efforts to strengthen the infrastructure required for the production, processing, procurement, and marketing of quality milk under the dairy development schemes such National Dairy Plan (Phase-I), National Programme for Dairy Development (NPDD), Dairy Processing and Infrastructure Development Fund (DIDF). Increasing adoption of new technologies/technology-based products such as automatic incubators for poultry farms is expected to fuel the market growth. The automatic incubators consist of gear-motor-operated panels that enable them to rotate at the appropriate speed to ensure perfect condition for an egg to hatch and incubate successfully. The incubator is designed to regulate incubation humidity and temperature. The presence of LED lights during the incubation improves the chick quality in broiler and white layer eggs, reduces the stress susceptibility of broilers post-hatch, and increases the hatchability rate. The prominent players operating in the market include Signify Holding (U.K.); HATO BV (Netherlands); Big Dutchman (Germany); OSRAM GmbH (Germany). The market players are mostly focusing on merger and acquisition in order to provide a significant lighting system for animal barns. Grand View Research has segmented the global livestock grow lights market based on type, livestock, installation type, light color type, and region:
Find more research reports on Next Generation Technologies Industry, by Grand View Research:
Gain access to Grand View Compass, our BI enabled intuitive market research database of 10,000+ reports About Grand View Research Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead. Contact: Logo: https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg 
|