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(IT-NEWSWIRE.COM, December 15, 2018 ) The grow lights market was valued at USD 2.50 billion in 2016 and is expected to reach USD 5.11 billion by 2022, at a CAGR of 11.86 % during the forecast period. Grow lights can be efficiently used to grow crops and vegetables indoors in any season. However, these crops would require artificial lighting for photosynthesis, which may not be favorable in a particular region due to extreme climatic conditions. A grow light is an electronic lamp designed to accelerate plant growth by emitting electromagnetic spectrum ideal for photosynthesis. The technological innovations has led to the development of a variety of grow lights according to the requirements of the plants. Base year considered for study is 2016 and the forecast has been provided for the period between 2017 and 2022.
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Commercial greenhouses and vertical farming are expected to be the two major application areas for grow lights during the forecast period
Commercial greenhouses have witnessed increased automation in the last decade, and the concept of controlled environment agriculture (CEA) is being implemented in the greenhouses to maintain optimum growing conditions and obtain a higher yield. The growers are gradually realizing the potential benefits of cultivating plants inside a greenhouse; this has contributed to the development of commercial greenhouses. LED grow lights can be easily programmed and integrated into the CEA setup within a greenhouse. Hence, growers with greater investment capabilities have started shifting toward LED grow lights from conventional lighting systems
Indoor Farming
The ever-growing population in the world is generating additional demand for food. The food production is not met adequately through indoor farming due to the changing climatic conditions. However, the technological advancements in grow lights are helping indoor farming to efficiently increase the crop yield. Grow light systems are installed as a primary source of light for indoor farming, as natural light is insufficient or completely absent.
Vertical Farming
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Vertical farming is changing the outlook of food production. The increased use of LED grow lights is encouraging the cultivators to adopt vertical farming on a large scale. In vertical farming, plants are stacked in layers one above the other which helps in utilization of maximum space available. The consumers’ demand for high quality, locally developed food free from pesticide and other harmful chemicals is increasing. Many places in the world are facing space constraints owing to the said concerns, and the food prices are also high at these places. However, with the use of vertical farming methods, the yield can be produced even at a square foot area. It helps in harvesting a variety of crops for whole year in spite of the changing climatic conditions.
Commercial Greenhouse
Commercial greenhouses are constructed to practice horticulture in a protected environment to ensure an optimum yield. Greenhouses are designed in such a way that they can trap the natural sunlight and humidity and retain it, which makes it conducive to grow various types of plants. The plants can be grown either by using soil as a base or by using hydroponic technique. Plants grown in greenhouses are protected from external dirt, and with proper care, they can be protected from insects and pests as well. It helps obtain a greater yield in greenhouses and achieve profitability.
Turf and Landscaping
Turf and landscaping are mainly needed at golf courses, sports pitches, gardens, and other recreational amenities. In this application, grow lights are utilized to ensure uniformity in terms of plant growth, color, and shape of the leaves or grass. Even in malls, shopping complexes, parking lots, and residential and commercial buildings, grow lights can be used to stimulate the growth of ornamental plants. Grow light sources emit light with a uniform intensity within its coverage area, which is low on power consumption and is well-suited for landscaping application, especially for ornamental purposes
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Key players in the grow light market include Royal Philips (Netherlands), General Electric Company (U.S.), Osram Licht AG (Germany), Gavita Holland B.V. (Netherlands), LumiGrow, Inc. (U.S.), Heliospectra AB (Sweden), Transcend Lighting Inc. (U.S.), and Sunlight Supply Inc. (U.S.); and raw material suppliers such as Beacon Lighting India (India); end users such as Walters Garden, Inc. (U.S.), Green Sense Farms (U.S.), and Borst Bloembollen B.V. (Netherlands); and suppliers such as Shenzhen Juson Technology Co., Ltd. (China).
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