Livestock Grow Lights Market Size, Competitive Landscape and Market Forecast - 2029
Global Livestock Grow Lights Market is segmented By Lighting Type (LED lighting, Fluorescent Lighting, Incandescent Lighting, Others), By Livestock (Cattle, Swine, Poultry, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029
Market Overview
The Global "Livestock Grow Lights Market" is expected to grow at a CAGR of 19.3% during the forecasting period (2022-2029).
Livestock Grow Lights Market Scope
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Metrics |
Details |
|
Market CAGR |
19.3% |
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Segments Covered |
By Lighting Type, By Livestock and By Region |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
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Fastest Growing Region |
Asia Pacific |
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Largest Market Share |
North America |
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Agricultural lighting has been a buzzword among the farming and growing communities in recent years. The surge in the adoption of indoor farming and protected animal rearing increased the need for artificial illumination in agricultural practices and the demand for livestock grow lights is witnessing significant growth across the globe. Livestock grow light is an artificial source of illumination installed in dairy farms, and other livestock growing areas to provide adequate illumination to livestock for their biological growth and development. Livestock grow lights are used in poultry farms, dairy farms, and other animal growing localities. Poultry houses and dairy farms across the globe are powered with incandescent lamps due to their low cost, easy dimmability, and ease of installation. However, LED lighting evolved as the effective lighting solution owing to its potential benefits such as reduced energy costs, waterproof and ability to resist to harsh environments.
Market Dynamics
The technological innovations such as development of low energy LED lights unmasked new avenues for the growth of illumination systems in animal growing farms. LED lights reduce the heating issues associated with its incandescent counterparts and proper installation of these LED lights do not create vision problems in animals. The rising indoor livestock farming practices, growing investments by the cattle and poultry growers towards effective maintenance of farms are driving the global livestock grow lights markets. The current LED lighting systems is capable of reducing stress and enhancing disease resistance in livestock, thus resulting in healthier animals. Additionally, economic benefits in farms through installations of lighting systems such as increased milk production, reduced feed usage and electricity costs are fueling the growth of livestock grow lights during the forecast period. According to the study conducted by the Alltech E-Co2, the installation of LED lighting systems in farm has resulted in increased milk production by 9% and reducing electricity cost by 7.7%, food concentrate by 11.4% and carbon out by 3.9%. Moreover, to meet the growing demand for poultry meat and eggs, the producers are adopting new approaches in feeding and lighting to increase production at reduced cost with less stress on environment.
However, high cost associated with livestock grow lights and complexities in installation and maintenance of artificially illuminated farms are the major factors hindering the growth of livestock grow lights market.
Market Segmentation
Global livestock grow lights market is segmented on the basis of livestock into cattle, swine, poultry, and others. Poultry is dominating the global livestock grow lights market owing to extensive usage of lighting systems by the layers and broilers producers for the effective and efficient production of egg and meat. The addition of lighting systems in poultry production has seen significant increase in vitamin D levels in Egg yolk. Increasing harsh environmental conditions and lack of resistance among the poultry towards harsh environments led the producers increase their investment in lightings and climate conditioning equipment. Growing modernization of existing poultry farms in developing nations are additionally fueling the growth of livestock grow lights across the globe.
Geographical Presentation
By region, the global livestock grow lights market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East and Africa. Asia-Pacific livestock grow lights market is expected to grow at lucrative rate during the forecast period owing to large presence of commercial livestock farms and growing investments by the farmers in lighting systems for high profits. Increasing poultry farm expansions by the commercial producers across the region to meet the growing demand for meat and other by products are additionally contributing to the growth of livestock grow lights market in Asia-Pacific. North America is dominating global livestock grow lights market owing to increasing adoption of smart technologies by the livestock growers to produce high quality, organic products to meet the consumer demand across the region. Increasing livestock grower investments in economic and hygienic maintenance of farms through advanced lighting equipment’s are additionally contributing to the growth of livestock grow lights market in North America.
Competitive Analysis
The major players in global livestock grow lights market are focusing towards expansion of their global presence through acquisition of regional companies and their production plants. For instance, in May 2019, Signify acquired animal-centric lighting companies Once, Inc. and iLOX to expand its business operations in the U.S. and European markets.
Some of the key players of the global livestock grow lights market include Signify, Sunbird LED Agricultural Lightings, AG Lighting Innovations, OSRAM Licht AG, and Uni-light LED AB.
Frequently Asked Questions
What is the Projected CAGR value of the Livestock Grow Lights Market?
Livestock Grow Lights Market is expected to grow at a CAGR of 19.3% during the forecasting period 2022-2029.
Which region controlled the global market during 2022-2029?
North America region Controls the Livestock Grow Lights Market during 2022-2029.
Which is the fastest growing region in the Livestock Grow Lights Market?
Among all regions, Asia Pacific is the fastest growing market share during the forecast period.