Global Plasma Lighting Market: Overview
Due to their multiple benefits, plasma lightings are widely used in industries like horticulture and indoor farming. Since these lights can effectively mimic sun’s spectrum, they are the best fit for greenhouse industry. Plasma lights have 100 CRI (Color Rendering Index) rating, which make these lights closest to the novel concept of ‘bottled sunlight’. This, as a result, propels optimal photosynthesis for plants, and hence plasma lights are extensively used by businesses to boost the production of crops throughout the year. Backed by these advantages, the global plasma lighting market is expected to witness a robust growth in the forecast period of 2019–2027.
A report by Transparency Market Research offers insights that can help readers have a clear picture of the dynamics of the market. The report provides detailed analysis of the global plasma lighting market in perspective of challenges, opportunities, developments, and trends.
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Global Plasma Lighting Market: Notable Developments and Competitive Landscape
Currently the global plasma lighting market has a handful of players who dominate the landscape, making it a consolidated market. Looking at lucrative opportunities such as growing demands in various industries and untapped regional markets, various new players are jostling to tap these opportunities in the market. This influx of players is making the present scenario quite competitive.
Several players are incorporating strategies such as new product launches, mergers, and acquisitions to withstand the competition. These strategies allow the players to consolidate their shares or positions in the global plasma lighting market.
By launching new products, companies showcase their technical expertises which help them attract new customers boosting their profit quotient. Moreover, it also opens doors for other players to upgrade their portfolios in the domain, which further generates better revenue potential for them.
- In August 2018, Creavision Ltd. launched its latest UV420 HEP plasma grow-lights at Autopot Show. The plasma light is capable to produce visible green and blue spectrum along with UV-A and UV-B light. Looking at the advantages, The Greenhouse Effect, a hydroponics company, ordered the plasma lights from Creavision. The Greenhouse Effect has been using the plasma lights to boost the quality of its products.
Some of the prominent players of global plasma lighting market are:
- Ceravision Ltd.
- LUMA Group
- Green De Crop
- Ka Shui International Holdings
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Global Plasma Lighting Market: Key Drivers
Safety of Employees in Tight Space Needs Better Lighting Solutions
Industrial application of plasma lights has increased exponentially in recent years. As a result of stringent policies by Governments of India, the U.S., and Canada, it is mandatory for the businesses to arrange for sufficient illumination ensuring unobstructed visibility in select hazard-prone jobs. The policies call for implementation of plasma lights in mines, caves, and other jobs characterized by constrained spaces. On account of such needs, the global plasma lighting market is experiencing consistent demands for new products in the forecast period.
Indoor Farming Necessitates Extensive Use of Plasma Lightings
As per the estimations by United Nations, by 2050, 80% of total global population will be living in urban areas metropolitan cities. This expansion of urban population is expected to reduce the availability land which was previously used for farming and agriculture. As a result, the food production to meet the needs of rapidly growing population is expected to be a daunting task. To avoid this demand-supply gap in future, the governmental authorities are promoting indoor farming massively. To maintain the productivity, these indoor farms need sunlight 24 by 7, which cannot be achieved naturally. It is here that plasma lights come in handy. As mentioned earlier, these lights have ability to mimic sunlight, hence can enhance photosynthesis in plants. Resultantly, farmers are incorporating plasma lightings in their indoor farms, thereby aiding the growth of the market in the coming few years.
Global Plasma Lighting Market: Regional Analysis
On the basis of region, the global plasma lighting market has its presence in North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Of these regions, Europe is expected to witness whoppinggrowth during the forecast period. The prominenceof the region is attributed largely to rising technological advancements and presence of major players in countries includingGermany and the U.K.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.