(Entertainment-NewsWire.com, December 07, 2017 ) Greenhouse Grow Light Industry Size was worth USD 3.65 billion in 2016 and estimated to be growing at a CAGR of 11.9%, to reach USD 6.40 billion by 2021. Grow lights, particularly LEDs are used in a huge range of farming-related applications, owing to the advantages they offer such as high low power consumption, reliability, and spectral intensity.
A greenhouse is a house made of glass. It has glass walls and a glass roof. People grow tomatoes and flowers and other plants in them. A greenhouse stays warm inside, even during winter. Sunlight shines in and warms the plants and air inside.
The growth of the global Greenhouse Grow Light industry is majorly driven by the rise in adoption of greenhouses, owing to rapid innovation in technology and rising disposable incomes of people willing to invest in farming. Technological innovations have further helped in lowering the costs of necessary Grow Light which aids in increasing the feasibility of owning a greenhouse. The adoption of greenhouse adoption technologies and encouragement from governments also act as drivers of industry growth.
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The industry has also been geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa. In 2015, Europe led the global Greenhouse Grow Light industry in terms of industry share., owing to the beginning of greenhouse culture in Europe because of favourable climate conditions. The industry for these Greenhouse Grow Light in Asia-Pacific area is amplifying because more of supportive government policies and increasing demand for greenhouses. The Asia-Pacific and other rising nations are foreseen to develop at a quick pace in the Greenhouse Grow Light industry in the following years when compared with the seasoned industrys of developed regions.
The major players operating in the Global Greenhouse Grow Light industry include Royal Philips, General Electric Company, Osram Licht AG, Gavita Holland B.V, Lumigrow Inc., Heliospectra Ab., Iwasaki Electric Co., Ltd., Illumitex Inc., Hortilux Schreder B.V., and Sunlight Supply Inc.
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