Saudi Arabia Livestock Grow Lights Market Size Expands to Cross USD 420.2 Million by 2029
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Saudi Arabia livestock grow lights market size at USD 265.53 million in 2022. During the forecast period between 2023 and 2029, the Saudi Arabia livestock grow lights market size is projected to grow at a CAGR of 6.80% reaching a value of USD 420.23 million by 2029
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Saudi Arabia livestock grow lights market size at USD 265.53 million in 2022. During the forecast period between 2023 and 2029, the Saudi Arabia livestock grow lights market size is projected to grow at a CAGR of 6.80% reaching a value of USD 420.23 million by 2029. The Saudi Arabia livestock grow lights market is expanding quickly because of the country's growing population, which is also driving up demand for animal meat. The Saudi Arabian livestock grow lights market is expected to see rapid expansion due to the country's farmers' increased use of innovative and novel agricultural technology to improve the productivity of their animals and the overall quality of their output.
Saudi Arabia Livestock Grow Lights Market – Overview
The artificial light given to cattle for growth and development is known as a grow light. It is used to alter an animal's physiological and biochemical reactions in relation to its food preferences, reproduction, and milk production. In livestock farms, artificial lighting is employed as grow lights, including LEDs, incandescent bulbs, HID lights, and fluorescent lights. For example, In the first few weeks of life, green light promotes healthy muscle growth whereas blue light spurs the creation of hormones. A yellowish-white light is used as a navigational aid and to enhance meal absorption.
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Saudi Arabia Livestock Grow Lights Market – By Installation Type
Based on installation type, the Saudi Arabia livestock grow lights market is segmented into retrofit and new installation. The new installation segment held a higher share in the Saudi Arabia livestock grow lights market and is expected to register the highest growth rate during the forecast period. With the expanding scope of livestock farming in the country and the benefits of using grow lights in productivity improvements, the farmers of Saudi Arabia are investing progressively in the new installations of grow lights, propelling the overall market growth.
Impact of COVID-19 on Saudi Arabia Livestock Grow Lights Market
The COVID-19 outbreak had a detrimental effect on the market for livestock grow lights in Saudi Arabia. As coronavirus is a zoonotic illness, Saudi Arabia's intake of animal meat has substantially decreased, causing the livestock farming industry to suffer enormous losses. Farmers' ability to purchase goods was impacted, which had a direct impact on their decision to invest in innovative equipment like grow lights. Additionally, because to the lockdown, there is a scarcity of grow light equipment, like as LED bulbs, due to restrictions on supply and demand.
Competitive Landscape
Major players operating in Saudi Arabia livestock grow lights market include Al Nasser Group, Saudi LED Light, National Lighting Company, TECHNO LED LIGHTS, Inara Company Limited, Nardeen Lighting Company LLC, Huda Lighting, and Philips Saudi Lighting Company. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
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