The global livestock grow lights market size is projected to attain USD 10.4 billion by the end of 2025 and is anticipated to grow at a CAGR of 6.8% over the forecast period from 2019 to 2025, according to a new report by Million Insights. Rising consumption of eggs, meat and the growing adoption of smart technologies is projected to surge the market growth. Moreover, the growth of domestic mammals in countries such as China, Brazil and India is increasing the need for livestock farming. These attributes are projected to increase the demand for the grow lights in the next few years.
Growing number of supportive initiatives by the government authorities across the U.S. and India is helping to improve animal production. Indian government is focusing on strengthening its production capacity, dairy industry through dairy development programs. Some of the programs include Dairy Processing &Infrastructure (DIDF), National dairy plan and Dairy Development Program (NPDD).
In addition, growing technological advancement is increasing the utility of products like automatic incubator which in turn is anticipated to proliferate the growth of the market. The automatic incubator involves gear motor operation with an appropriate speed that makes a good condition for egg hatching. LED lights enhance chick’s quality in the white layer and broiler eggs.
Key manufacturers in the livestock grow light market are OSRAM GmbH; Signify Holding; Big Dutchman (Germany); DeLaval Inc. (Sweden); HATO BV (Netherlands); CBM Lighting; Once Inc. (U.S.); and Fienhage Poultry-Solutions GmbH. These players in the market are focusing on acquisition and mergers to expand their presence across the world.
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Further key findings from the report suggest:
• Increasing trend of LED lightings in livestock farming is boosting the market growth. LED lights offer greater energy efficient than incandescent lamps.
• In 2018, Cattle segment led the market with largest revenue in the overall market.
• New installation type segment is projected to propel at a fastest CAGR during the forecasted period.
• In 2018, North America contributed to significant share in the overall market, due to higher adoption of LEDs and HIDs in livestock farming.
Million Insights has segmented the global livestock grow lights market based on type, livestock, installation type, light color type and region:
Livestock Grow Lights Type Outlook (Revenue, USD Million, 2014 - 2025)
• High-Intensity Discharge
Livestock Grow Lights Livestock Outlook (Revenue, USD Million, 2014 - 2025)
Livestock Grow Lights Installation Type Outlook (Revenue, USD Million, 2014 - 2025)
Livestock Grow Lights Color Type Outlook (Revenue, USD Million, 2014 - 2025)
Livestock Grow Lights Regional Outlook (Revenue, USD Million, 2014 - 2025)
• North America
• Asia Pacific
• South America
• Middle East & Africa