Market Overview
A Livestock and Aquaculture LED Lighting is the artificial light provided to the livestock and aquaculture for their development and growth. It is beneficial for modifying their physiological & biological responses, including reproduction and milk production.
According to MarkNtel Advisors’ research report, “Global Livestock and Aquaculture LED Lighting Market Analysis, 2021,” the market is likely to grow at a CAGR of around 7% during 2021-26. The market growth attributes to the innovation of advanced technologies and the mounting adoption of smart livestock farming and aquaculture practices. Additionally, the surging consumption of animal-based products and the increasing concerns regarding the growth and welfare of livestock to enhance their productivity boost the demand for LED lights in livestock, thereby fueling the Livestock and Aquaculture LED Lighting Market growth across the globe.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2016-19 |
| Base Year: 2020 | |
| Forecast Period: 2021-26 | |
| CAGR(2021-26) | 7% |
| Regions Covered | North America: USA, Canada, Mexico |
| Europe: Germany, The UK, France, Spain, Italy and Others | |
| Asia-Pacific: China, India, Japan, South Korea, Australia and Others | |
| South America: Brazil, and Argentina | |
| Middle East & Africa: UAE, Saudi Arabia, South Africa | |
| Key Companies Profiled | Osram Licht AG, Koninklijke Philips N.V., DeLaval, Once Inc., HATO Agricultural Lighting, Shenzhen Hontech-Wins Electronics Co., Ltd., CBM Lighting, Fienhage Poultry-Solutions GmbH, Sunbird Poultry Lighting Systems, Planet Lighting |
| Unit Denominations | USD Million/Billion |
Impact of COVID-19
The outbreak of the COVID-19 pandemic has adversely affected the growth of the Global Livestock and Aquaculture LED Lighting Market. The imposition of lockdown has affected the entire food supply chain, especially livestock production. Additionally, the shutdown of processing plants and rising concerns of the spread of disease due to proximity has led to a decline in the number of workers, which, in turn, has affected the production capacity, thereby negatively influencing the market growth.
Market Segmentation
LED Bulb Accounted for the Largest Market Share
Based on the Product Type, the market divides into LED Bulb and LED Tube Light. Of these two, the LED Bulb captured a significant share in the market in the previous few years. It owes to the properties exhibited by LED Bulbs, such as energy savings and durability. It is the most energy-efficient product, enabling farmers to create a lighting environment best suited for livestock’s wellbeing. Hence, these factors lead to the accelerating segment growth, cites MarkNtel Advisors in their research report, “Global Livestock and Aquaculture LED Lighting Market Analysis, 2021.”
LED Bulb Dominated the Market
Based on Installation, the market bifurcates into Retrofit and New Installation. Of these two, the Retrofit attained the highest share in the Global Livestock and Aquaculture LED Lighting Market in the past few years. Retrofit is a cost-effective and fast method, as it is a temporary solution. It offers supplemental light beneficial for enhancing the quality of plants and minimizing their labor & maintenance costs.
Regional Landscape
Asia Pacific Region Attained the Highest Market Share
Geographically, Asia Pacific held the largest share in the Global Livestock and Aquaculture LED Lighting Market in the previous few years. It owes to the abundant availability of livestock, resulting in high demand for large-sized farms. The rising livestock population results in the increasing demand for new livestock farms. In addition to this, mounting disposable income and snowballing purchasing power of people has aided the need for animal-based products like meat and eggs, thereby propelling the market growth.
Market Driver
Remarkable benefits associated with LED Lighting Boost the Market Growth
The Livestock and Aquaculture LED Lighting offer a wide range of benefits over conventional lighting technologies, such as energy efficiency, longer life, and increasing cost competitiveness. These factors have boosted the demand for long-lasting lighting and cost-effective solutions for livestock and aquaculture, thereby augmenting the overall market growth.
Competitive Landscape
According to MarkNtel Advisors, the leading players in the Global Livestock and Aquaculture LED Lighting Market are Osram Licht AG, Koninklijke Philips N.V., DeLaval, Once Inc., HATO Agricultural Lighting, Shenzhen Hontech-Wins Electronics Co., Ltd., CBM Lighting, Fienhage Poultry-Solutions GmbH, Sunbird Poultry Lighting Systems, and Planet Lighting.
Key Questions Answered in the Market Research Report:
Market Outlook, Segmentation and Statistics:
Frequently Asked Questions
A. The Global Livestock and Aquaculture LED Lighting Market is forecast to grow at a CAGR of 7% during 2021-26.
A. Osram Licht AG, Koninklijke Philips N.V., DeLaval, Once Inc., HATO Agricultural Lighting, Shenzhen Hontech-Wins Electronics Co., Ltd., CBM Lighting, Fienhage Poultry-Solutions GmbH, Sunbird Poultry Lighting Systems, and Planet Lighting are a few of the leading players in the Global Livestock and Aquaculture LED Lighting Market.
A. LED Bulb is likely to attain the highest CAGR during the forecast period and maintain its significant market share.
A. Asia Pacific continues to grow at the highest CAGR during 2021-26, thereby presenting immense opportunities to market players of the Global Livestock and Aquaculture LED Lighting Market.
A. Increasing innovation of advanced technologies, mounting adoption of smart livestock farming & aquaculture practices, and the surging consumption of animal-based products are the major factors backing the market growth.
A. The sudden outbreak of the COVID-19 pandemic has adversely affected the growth of the Global Livestock and Aquaculture LED Lighting Market as the imposition of lockdown has affected the entire food supply chain, especially livestock production.
