Grow Lights Market to Reach $4.19 - Key Vendors are Gavita Holland B.V., Heliospectra AB & Royal Philips Electronics

Dublin, March 10, 2016 -- Research and Markets (http://www.researchandmarkets.com/research/xdnv42/grow_lights) has announced the addition of the "Grow Lights Market - Global Forecast to 2020" report to their offering.

The grow lights market is expected to reach USD 4.19 Billion by 2022. Grow lights are expected to be in high demand in the horticultural sector because the demand for fresh fruits and vegetables is rising rapidly with the rise in population. A large number of growers are now practicing protected farming in controlled environments, such as greenhouses or indoor farms to obtain higher yield throughout the year.

This is expected to present significant market opportunities for grow lights during the forecast period. The concept of vertical farming is being adopted for growing plants in urban areas across the world, for which grow lights would be the primary light source for photosynthesis. Besides this, the legalization of marijuana cultivation for medical and recreational purposes is driving the grow lights market in North America.

Europe held the largest share of the grow lights market in 2015, and it is expected to grow at the lowest CAGR between 2016 and 2022. The increasing demand for grow lights from commercial greenhouses and vertical farms is expected to drive the market in Europe. The market in APAC is estimated to grow at the highest rate for grow lights during the forecast period. The demand for grow lights in the APAC region is expected to be driven by increasing demand for horticultural produce and the growth of vertical farms.

One of the key factors restraining the growth of this market is the lack of common standards for assessing the product quality of artificial lighting equipment. The product quality needs to be assessed to validate the lumen output and operating life of the grow lights available in the market. Presently grow lights are being offered in different types of lighting technologies including HID, FL, LED, induction, and plasma lighting.

The number of manufacturers is also very high, which makes it very complicated to assess the product quality. It also makes it difficult for the growers to select the right grow light for their needs. As a result the growers are given a trial of products such as LED, plasma, and induction before making the purchase decision. This allows growers to personally test the effectiveness of new products on different types of plants and then buy them as per the requirements.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Industry Trends

7 Grow Lights Market, By Technology

8 Grow Lights Market, By Type of Installation

9 Grow Lights Market, By Application

10 Grow Lights Market, By Geography

11 Competitive Landscape

12 Company Profiles

Companies Mentioned:

• Gavita Holland B.V.
• General Electric Company
• Heliospectra AB
• Hortilux Schréder B.V.
• Igrow Induction Lighting LLC
• Illumitex, Inc.
• Iwasaki Electric Co., Ltd.
• Lumigrow, Inc.
• Osram Licht AG
• Royal Philips Electronics N.V.
• Sunlight Supply Inc.
  

For more information visit http://www.researchandmarkets.com/research/xdnv42/grow_lights

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