In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.
Request InsightsPurchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively. Request Insights
IN THE NEWSJanuary 17th, 2019: Lely International N.V. announced that it has introduced a new 125 Watt LED fixture in addition to the 250 Watt LED fixtures with a minimum output of 18,000 lumen. The LED fixture which is known by the name Lely L4C LED 125 has been developed specially for workspaces, beef cattle, dry cows and low barns.
September 30th, 2021: Greengage Agritech Ltd. announced that it has partnered with RoI-Tech-Mar, a Polish-based livestock equipment supplier, for the distribution of its products. With this new partnership, the company now had a total of 15 distributors in their network which are spread across 5 continents and 7 different countries.
November 5th, 2021: Gasolec B.V. announced the launch of a new lighting system LED tubes, called the Prolucent lighting tubes, which uses 72 LEDs and a 48Vdc low voltage system.
The global livestock and aquaculture LED lighting market is estimated to garner a revenue of USD 9745.9 Million by the end of 2031 by growing at a CAGR of 7.4% over the forecast period, i.e., 2022 – 2031. Moreover, in the year 2021, the market generated a revenue of USD 4811.1 Million. The growth of the market can be attributed to numerous benefits associated with LED lighting as LED lights are highly energy efficient, have a long lifespan, can be operated at a low voltage and in extreme cold conditions. Lighting plays an important role for livestock and aquaculture as it helps to promote growth of the organisms by increasing their physiological and biological responses. The growth of the market can also be attributed to the rising demand for health and sustainable food products, and therefore the need amongst food producers for finding innovative and sustainable methods for the production of food products. Decreasing arable land, increasing population globally, and the surge in consumption of meat and fish products worldwide are some of the additional factors anticipated to drive the growth of the market in the coming years. According to the statistics by the Food and Agricultural Organization (FAO), the food consumption of meat worldwide increased from 24.2 kg/capita during 1944-1966 and it reached 41.3 kg/capita in the year 2015. This is further expected to touch 45.3 kg/capita by the end of 2030. Additionally, in the other statistics by the FAO, fish accounted for approximately 17% of total animal protein and 7% of all proteins consumed globally in the year 2017.
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Regionally, the global livestock and aquaculture LED lighting market is segmented into North America, Europe, Asia Pacific, and Rest of World region. The market in the Asia Pacific is anticipated to garner the largest revenue of USD 3922.7 Million by the end of 2031, up from a revenue of USD 1977.4 Million in the year 2021. The growth of the market in the region can primarily be attributed to the increasing production of different types of fish in the region, along with the fact that the region is the world’s largest producer of fish. According to the statistics by FAO, the world capture production of different types of fishes in the inland waters in the Asia Pacific increased from 7127712 in the year 2013 to 7866687 in the year 2019. Besides this, the increasing focus of the government of nations in the region to promote sustainable aquaculture practices is also projected to add to the market growth during the forecast period. The market in the region is further segmented by country into China, Japan, India, South Korea, Singapore, Australia, and the Rest of Asia Pacific. The market in China is projected to garner the largest revenue of USD 2514.5 Million by the end of 2031, up from a revenue of USD 1291.2 Million in the year 2021.
The study further incorporates Y-O-Y Growth, market opportunities, demand & supply and forecast future opportunity in North America (United States, Canada, Mexico), South America, Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
The global livestock and aquaculture LED lighting market is segmented by product type into LED bulb, LED tube light, and LED fixtures. Out of these, the LED tube light segment is projected to garner the largest revenue of USD 4313.6 Million by the end of 2031, up from a revenue of USD 2123.6 Million in the year 2021. By watt, the market is segmented into below 100W, 100W-200W, 200W-300W, 300W-400W, and above 400W. Out of these, the below 100W segment is projected to garner the largest revenue of USD 3971.6 Million by the end of 2031, up from a revenue of USD 1875.3 Million in the year 2021. By installation, the market is segmented into retrofit segment is projected to garner the largest revenue of USD 5983.8 Million by the end of 2031, up from a revenue of USD 2989.3 Million in the year 2021. By distribution channel, the market is segmented into online, distributors & dealers/retailers, and direct sales. Out of these, the distributors & dealers/retailers segment is projected to garner the largest revenue of USD 5958.3 Million by the end of 2031. By application, the market is segmented into livestock lighting, and aquaculture lighting, out of which, the livestock lighting segment is anticipated to grow with the highest CAGR of 7.5% during the forecast period.
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global livestock and aquaculture LED lighting market that are included in our report are DeLaval, Big Dutchman, Les éclairs CBM inc., Aruna Lighting Holding B.V., HATO Agricultural Lighting, Sunbird Lighting Pty Ltd, Greengage Agritech Ltd., LED Livestock ApS, Fienhage Poultry-Solutions GmbH, Uni-light LED, J&D Manufacturing, Erilon, Agrilux (Thies Electrical Distributing Co. Inc.), Agri-Light Energy Systems Ltd., Once Inc., Shenzhen Hontech-Wins Electronics Co., Ltd., Lely International N.V., Adolf Schuch GmbH, Gasolec B.V., and others.
FREQUENTLY ASKED QUESTIONS
The increasing adoption of smart livestock farming and aquaculture practices and the numerous benefits associated with LED lighting are some of the major factors anticipated to drive the growth of the market.
The market is anticipated to attain a CAGR of 7.4% over the forecast period, i.e., 2022 – 2031.
The limited awareness about the availability of smart lighting technologies, along with the high cost of LED lights are estimated to hamper the market growth.
The market in the Asia Pacific is anticipated to garner the largest revenue of USD 3922.7 Million by the end of 2031 and provide more business opportunities in the future.
The major players in the market are DeLaval, Big Dutchman, Les éclairs CBM inc., Aruna Lighting Holding B.V., HATO Agricultural Lighting, Sunbird Lighting Pty Ltd, Greengage Agritech Ltd., LED Livestock ApS, 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 product type, watt, installation, distribution channel, application, and by region.
The LED tube light segment is projected to garner the largest revenue of USD 4313.6 Million by the end of 2031 and display significant growth opportunities.
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