Livestock Grow Lights Market Insight | Industry Key Players, Share, Trends, Applications, Forecast to 2023

25/feb/2019 13:05:39 MarketsandMarkets Contatta l'autore

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The livestock grow lights market is projected to reach USD 8.6 billion by 2023, at a CAGR of 6.4% during the forecast period. This is attributed to technological innovations and the adoption of smart livestock farming practices. However, the increase in the demand for using lights in livestock barns.


Report Objectives:

  • Identifying attractive opportunities in the market by determining the largest and fastest-growing segments across regions
  • Providing detailed information on key factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
  • Analyzing the micromarkets with respect to the individual growth trends, future prospects, and their contribution to the total market
  • Market players in the livestock grow lights market

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By type, the LED segment is projected to witness the fastest growth in the market.

The LED segment is projected to witness the fastest growth to its significant energy savings and longer durability properties. In addition, it is more energy-efficient with one-fifth of the power consumption of incandescent bulbs. LED grow lights provide the spectrum as a spectrum for the spectral sensitivity of the livestock. By optimizing different spectrum levels and radiation, farmers could create lighting that is best suited for their livestock and wellbeing.

The cattle segment is projected to account for the largest market share during the forecast period

In the dairy farms, in 2018. In dairy farms, grow lights help in improving the production of milk cattle; in beef cattle, grow lights are used to stimulate muscle growth to increase meat production. Further, the constantly rising demand for dairy and dairy products including milk, cheese, yogurt, and butter into both, developed and developed economies.

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Asia Pacific is projected to account for the largest market share during the forecast period.

The Asia Pacific market accounted for the largest share in the livestock grow lights market. The large market share in this region is attributed to the presence of large livestock population (FAO STATISTICS 2016) and their growth. The growing number of the farms are also projected to contribute to the large market of the Asia Pacific region.

Key Market Players:

OSRAM (Germany), Signify Holding (Netherlands), DeLaval (Sweden), Big Dutchman (Germany), Uni-light LED (Sweden), Once Inc. (US), AGRILIGHT BV (Netherlands), Aruna Lighting (Netherlands), HATO BV (Netherlands), Shenzhen Hontech-Wins (China), CBM Lighting (Canada), Fienland Poultry Solutions (Germany), SUNBIRD (South Africa), ENIM UAB (Lithuania), and Greengage Lighting (UK). These players have broad coverage and strong operational and financial strength; they have grown organically and inorganically in the recent past. The industry players, such as Once Inc. (US) launched AgriShift HL-UVA, a 3-Watt LED in January 2017, which provides stimulus for feeding and promotes animal health. Moreover, key industry players such as Big Dutchman (Germany) launched Zeus in October 2016.

Recent Developments:

 

  • In June 2018, Once Inc. (US) announced the acquisition of iLOX GmbH (Germany) and its subsidiary iLOX Sp.zoo (Poland). This acquisition would help the company develop innovative lighting technologies for the livestock growing.
  • In May 2018, DeLaval (Sweden) opened a new distribution center in Germany. This would help the company reduce the lead time and store more products, strengthen its logistics services.
  • In January 2018, Uni-light LED has developed a High Bay light 275W to expand its product portfolio.
  • In October 2016, HATO BV (Netherlands) launched BUBO, tubular lighting for housing and aviaries to provide appropriate light feed and water intake.
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