The Livestock Grow Lights Global Market Report 2023, provides comprehensive information on the livestock grow lights market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Livestock Grow Lights Global Market Report 2023, the global livestock grow lights market size is expected to grow from $6.16 billion in 2022 to $6.71 billion in 2023 at a compound annual growth rate (CAGR) of 8.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global livestock grow lights market size is expected to reach $9.07 billion in 2027 at a CAGR of 7.8%.
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Product innovations are a key trend gaining popularity in the livestock grow lights market. Major companies operating in the livestock grow lights market are introducing innovative products related to sustainable LED grow lights to sustain their position in the market. For instance, in July 2021, Light Science Technologies, a UK-based developer of controlled-environment agriculture products, launched NurturGrow LED grow lights. The new product is innovative and sustainable, with 85% of its reusable components, which would help animal farmers and indoor growers upgrade the features quickly and save on lighting costs. The NurturGrow light has a variable length of up to 2.78 meters, making it the longest luminaire on the market. This product includes industry-leading, high-performance LED lighting innovation using its internal manufacturing resources, ensuring farmers nothing less than premium and high-performance grow lights.
The livestock grow lights market is segmented:
1) By Type: Fluorescent, Light Emitting Diode (LED), Incandescent, High-Intensity Discharge
2) By Livestock: Cattle, Poultry, Swine, Other Livestock
3) By Color: Green, Red, White, Blue
4) By Installation: Retrofit, New-Installation
Asia-pacific was the largest region in the livestock grow lights market in 2022.
The table of contents in TBRC’s livestock grow lights market report includes:
- Executive Summary
- Livestock Grow Lights Market Characteristics
- Livestock Grow Lights Market Trends And Strategies
- Livestock Grow Lights Market – Macro Economic Scenario
- Livestock Grow Lights Market Size And Growth
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- Africa Livestock Grow Lights Market
- Livestock Grow Lights Market Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions In The Livestock Grow Lights Market
- Livestock Grow Lights Market Future Outlook and Potential Analysis
- Appendix
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