The global grow light for poultry farming market is estimated to garner a sizeable revenue and grow at a CAGR of ~6% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the growing demand and consumption of poultry-based products, increasing adoption of smart poultry farming practices, and rising technological advancements regarding poultry farming. For instance, the poultry meat consumption in the year 2030 is expected to rise up to more than 150 kilotons, which is calculated at almost 133 kilotons in 2021. Apart from these, escalating awareness associated with appropriate lighting to manage a healthy and productive flock in several developing nations is also projected to drive market growth in the near future. Furthermore, government agencies in many countries are extensively involved in the promoting the use of energy efficient devices for poultry, which in turn is expected to provide ample growth opportunities to the market in the upcoming years.
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The market is segmented by type into light-emitting diode (LED), incandescent, fluorescent, and hid, out of which, the light-emitting diode (LED) segment is anticipated to witness the fastest growth in the global grow light for poultry farming market on account of LED’s properties such as longer durability and high energy efficiency. In addition, LED lights are able to offer a wide range of spectrum that can be customized as per the poultry requirements, which is considered to be another factor driving market growth by the end of 2030. Additionally, on the basis of installation, the segment for new installation is evaluated to observe a significant CAGR over the forecast period owing to the growing installation of modern grow lights by poultry farmers around the world.
On the basis of geographical analysis, the global grow light for poultry farming market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in the Asia Pacific is estimated to grab the largest share and witness noteworthy growth over the forecast period on the back of presence of large poultry livestock and increase in the production of grow lights in the region. In 2019, China had the largest poultry bird stock in the Asia Pacific, with a stock of more than 6 billion. Bhutan also observed a hike in its poultry livestock that year, valued at about 1.4 million. Along with these, rising emphasis of manufacturers on manufacturing poultry grow lights that can last longer duration, is also predicted to expand the region’s market in the forthcoming years. Moreover, the market in Europe is also assessed to occupy a notable share in the market during the forecast period in view of the strong presence of prominent market players and rising emphasis on a healthier poultry in the region.
The global grow light for poultry farming market is further classified on the basis of region as follows:
Our in-depth analysis of the global grow light for poultry farming market includes the following segments:
FREQUENTLY ASKED QUESTIONS
The major factors driving market growth are increasing consumption and demand for poultry products and growing adoption of smart poultry farming practices worldwide.
The market is anticipated to attain a CAGR of ~6% over the forecast period, i.e., 2022 – 2030.
Lack of awareness about smart poultry farming in lower economic regions is estimated to hamper the market growth.
Asia Pacific will provide more business opportunities to the market owing to the presence of large poultry livestock and increasing production of grow lights in the region.
The major players in the market are AGRILIGHT BV, OSRAM Opto Semiconductors GmbH, General Electric Company, Signify Holding, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, installation, and by region.
The LED segment is anticipated to hold largest market size in value and is estimated to grow at a notable CAGR over the forecast period and display significant growth opportunities.
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