Asia Pacific Grow Lights Market Size, Share & Industry Trends Analysis Report By Spectrum, By Technology, By Application, By Installation Type (New Installation and Retrofit), By Offering, By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Asia Pacific Grow Lights Market would witness market growth of 27.1% CAGR during the forecast period (2022-2028).
For plants to thrive and reproduce, the environment must be optimal. Even if they only encounter these damaging conditions for a short while, extreme temperatures will stress the crops, causing poor growth, wilting, and death. Due to their significantly lower heat output when compared to other lighting options, grow lights have a distinct advantage. In addition to streamlining ventilation procedures and expenses, LEDs operate cooler than HID lamps, reducing their negative environmental impact.
Grow light dimensions and height enable users to maximize the amount of light that reaches a plant's canopy. The fittings can be installed closer to the plants based on the photosynthetic photon flux (PPF) of the grow light so that the plant owner can adhere to the manufacturer's recommendations for the ideal distance between the grow lights and plants.
It is necessary to keep in mind that how close the plants should be to the amount will depend on their shape and the amount of light it emits. Smaller box-shaped grow lights function better when positioned on top of a plant canopy because they scatter light until it reaches the plants. Users may install grow lights with shorter beam angles if the light needs to be further away from the plants.
The growing use of grow lights in the agricultural industry in India is the main factor driving the market. To fulfill the nation's growing need for food, they also help to preserve the best yield and plant quality. In addition, the government of India's growing investments in research and development (R&D) projects to support advancements in agricultural science are driving up demand for grow lights. The expansion and improvement of agriculture in India have been greatly aided by the Indian government. By introducing numerous policies, the government is making every effort to promote the expansion of agriculture through the Ministry of Agriculture.
The China market dominated the Asia Pacific Grow Lights Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $970.7 million by 2028.The Japan market is estimated to grow a CAGR of 26.3% during (2022 - 2028). Additionally, The India market would experience a CAGR of 27.9% during (2022 - 2028).
Based on Spectrum, the market is segmented into Narrow and broad. Based on Technology, the market is segmented into Light Emitting Diode (LED), High Intensity Discharge (HID), Fluorescent and Others. Based on Application, the market is segmented into Commercial Greenhouse, Turf & Landscaping, Indoor Farming, Vertical Farming and Research & Others. Based on Installation Type, the market is segmented into New Installation and Retrofit. Based on Offering, the market is segmented into Hardware, Software and Services. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Signify N.V., Heliospectra AB, Gavita International B.V., California LightWorks (MWW Inc.), Valoya Oy, Hortilux Schréder (Dool Industries), Biological Innovation and Optimization Systems, LLC, GE Current, a Daintree company, Kroptek Ltd., and SANlight GmbH.
Scope of the Study
Market Segments Covered in the Report:
- Light Emitting Diode (LED)
- High Intensity Discharge (HID)
- Commercial Greenhouse
- Turf & Landscaping
- Indoor Farming
- Vertical Farming
- Research & Others
By Installation Type
- New Installation
- South Korea
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Signify N.V.
- Heliospectra AB
- Gavita International B.V.
- California LightWorks (MWW Inc.)
- Valoya Oy
- Hortilux Schréder (Dool Industries)
- Biological Innovation and Optimization Systems, LLC
- GE Current, a Daintree company
- Kroptek Ltd.
- SANlight GmbH
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