Increase in Demand and Consumption of Livestock-Based Products Drives the Livestock Grow Lights Market

Northbrook, IL, USA, 2019-Dec-04 — /EPR Network/ —The livestock grow lights market is projected to grow from USD 6.3 billion in 2018 to 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 and consumption of livestock-based products and the rising focus on livestock growth and welfare together with the emphasis on livestock productivity drives the demand for using grow lights in livestock barns.

Report Objectives:

• Determining and projecting the size of the livestock grow lights market with respect to type, livestock, installation type, and regional markets over a five-year period ranging from 2018 to 2023
• Identifying attractive opportunities in the market by determining the largest and fastest-growing segments across regions
• Providing detailed information about key factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
• Analyzing the micromarkets with respect to individual growth trends, future prospects, and their contribution to the total market
• Identifying and profiling key market players in the livestock grow lights market

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

Based on the livestock segment, the market is estimated to be dominated by the cattle segment in 2018. In dairy farms, grow lights help in improving the output of milk production from dairy cattle; whereas in beef cattle, grow lights are used to stimulate muscle growth to increase meat production. Further, the constantly rising demand for dairy & dairy-based products including milk, cheese, yogurt, and butter in both, developed and developing economies are projected to drive the demand for grow lights in cattle farms.

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The LED segment is projected to grow at the highest CAGR in the global livestock grow lights market during the forecast period.

The livestock grow lights market is segmented on the basis of type as LED, fluorescent, incandescent, and high intensity discharge (HID). The growth of the LED segment is driven by the increased usage of LED due to longer durability, higher energy efficiency, minimal maintenance, fully dimmable features, availability of multicolor, high-speed response, and longer lifespan. Furthermore, by optimizing different spectrum levels and radiation, farmers could create lighting environment that is best suited for their livestock’s wellbeing.

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. Furthermore, the rising number of livestock farms and the growing size of existing farms are also projected to contribute to the large market of the Asia Pacific region.

Key Market Players:

The major vendors in the global livestock grow lights market are 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), Fienhage Poultry Solutions (Germany), SUNBIRD (South Africa), ENIM UAB (Lithuania), and Greengage Lighting (UK). These players have broad industry 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, the first LED lamp with replaceable parts, which is cost-efficient for the poultry farmers.

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Key Questions addressed by the report:

• Who are the major market players in livestock grow lights market?
• What are the regional growth trends and the largest revenue-generating regions for livestock grow lights?
• Which are the major regions that are projected to witness a significant growth for livestock grow lights?
• What are the major types of livestock grow lights that are projected to gain maximum market revenue and share during the forecast period?
• Which is the major type of livestock where grow lights are used that will be accounting for majority of the revenue over the forecast period?

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