According to market research firm Technavio latest research results show that, by 2020, the global market value will grow lights more than three billion US dollars in 2016 to 2020 will grow 12% CAGR.
Currently, the global market grow light is divided into four categories: fluorescent grow lights, LED grow lights, high pressure sodium (HPS) grow lights, grow lights incandescent and halogen lamps.
Global fluorescent grow lights market
By 2020, global growth fluorescent lamp market is expected to reach $ 1 billion, such products popular with home gardeners welcome. Standard fluorescent lamps commonly used in seed germination, but the efficiency is not high, in order to overcome the shortcomings of the standard fluorescent lamps, advanced technology will be manufactured with high yield and efficiency of fluorescent lamps. Compared with the standard fluorescent lamps, fluorescent lighting new R & D has a strong lower temperature, such products to be more efficient than incandescent bulbs and also cost-effective.
In addition, fluorescent lamp bracket will also lighter, easier to install, easier for users to use, but can also replace the lamp.
Global LED Grow Light Market
By 2020, global LED grow light market will reach $ 1.9 billion, the annual compound growth rate of over 25%. LED Grow Light market is relatively new, technology has been in development, has introduced a more efficient product. LED life than ordinary energy-saving lamp 10 times longer, and far more than ordinary incandescent lamp. Although these lamps are more expensive, but more efficient, since no frequent replacement, but also save electricity costs. Compared with other lamps, LED less heat, and therefore eliminates the expensive and complicated cooling system cost. Use of other lamps need a cooling system because overheating will damage the plant tissues.
Because of the advantages of LED more, the world’s researchers are focusing on the development of LED grow light, and therefore the market will grow further.
Global HPS grow light market
By 2020, HPS grow light projected global market value will reach $ 157 million. Orange and red flowers make HPS issued production results and ripening, they give the greenhouse to provide adequate lighting. The benefits of high pressure sodium lamp is illuminated wide range, and high pressure sodium lamps should not be too close to the plant, because it generates a lot of heat. But in winter greenhouse does require more calories. After the high pressure sodium lamp with a long irradiation becomes weak, we need to replace. The average life of these lamps is 18,000 hours.
Agricultural equipment analyst Abhay Sinha said: “The high-pressure sodium lamps in all high-intensity discharge lamps, the most efficient, high-pressure sodium light efficiency six times higher than incandescent, very different, but also the future popularity of these lamps will help to promote indoor cultivation industry growth. ”
Global incandescent and halogen lamps grow light market
Global incandescent and halogen lamps grow light market value in 2020 of $ 79.5 million, a compound annual rate of decline of 1.5%.
Incandescent usually buy at the grocery store and hardware store, but incandescent lights do grow a disadvantage is not energy, no light part of the energy that will generate additional heat, Abhay said: “Although the beginning to buy incandescent the cost is very low, but the running costs to be more than fluorescent lamps, and therefore used as growth incandescent lamp is not suitable, a halogen lamp, too, because its performance is similar with incandescent lamps. “