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(MoneyNewsWire.Net, April 02, 2018 ) The Latin America Grow Light Market is worth USD0.2 billion in 2016 and estimated to grow at a CAGR of 7.5%, to reach USD 0.29 billion by 2021. The Latin America Grow Light market is developing at an exceptionally quick pace. Artificial sources of light are used to stimulate growth where there is no light or less light available. An example of such is during winters when amount of sunlight available is less.
The amount of light that plants receive is enlarged by this artificial source of light. Grow Light either imitate the emission spectrum similar to that of sun or according to the needs of the plant. They are used for various purposes like indoor gardening, food production, horticulture, and plant propagation. Though grow lights are mostly used on manufacturing level, they are used for household purposes also.
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The driving constituents for plant industries with grow lights showcase are the increasing interest for the capacity to develop locally and reliably, scarcity of space for cultivating particularly in urban communities, and the need to build the yield per unit range without hurting nature. Governments are equally reassuring plant industrial facilities and grow lights for improving the generation. The opportunities in this market are fluctuating and can run from innovative technologies in grow lights, consolidated utilization of normal lighting with simulated lighting, building up a sun oriented power based plant manufacturing plant to building numerous level plant production lines which would additionally diminish space necessity.
The Latin America market for Grow Light is segmented on the basis of technology, type of installation, applications and region. Based on technology, the market is segmented into HID lights, fluorescent lights, LEDs, LEPs, induction lights. Traditional lighting technologies like HID and fluorescent lighting (FL) are quite popular. LED grow light is a new technology in horticultural lighting and is proving to be far more effective than other lighting technologies. Although LED grow lights are costly, their long-term advantages in terms of energy efficiency make them an ideal option. Based on type of installation, the market is segmented into new installation and retrofit installation. Based on applications, the market is segmented into indoor farming, vertical farming, commercial greenhouses, rooftop farming, and others.
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Latin America market region includes countries such as Brazil, Mexico, Argentina, and remaining countries of South America. . The market is anticipated to keep thriving in both created and creating districts. The development is additionally credited to the developing interest in grow lights.
Royal Philips Electronics, OSRAM Licht AG, PAR source Lighting Solutions, Bridgelux, General Electric Company, Alta LED Corporation, Solarmax,Heliospectra,LumiFlow are the leaders in the Latin America Grow Light market.
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