Report Ocean has recently added a comprehensive market research report that provides an in-depth analysis of the “Horticulture Lighting Market” industry. This report offers valuable insights into current and future industry trends, empowering readers to identify revenue growth and profitability drivers. It conducts a detailed analysis of key factors influencing the global and regional market, including drivers, restraints, threats, challenges, opportunities, and industry-specific trends. The report also highlights global certainties, downstream and upstream analysis of key players, and provides forecast market information, SWOT & PESTEL analysis, market scenarios, and possibility studies.
Horticulture Lighting Market is valued approximately USD 6.19 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 18.1% over the forecast period 2023-2030. Horticulture Lighting is the use of artificial light sources, such as LEDs, to provide specific wavelengths and intensities of light for promoting plant growth, development, and productivity in controlled environments like greenhouses or indoor farms. It allows growers to optimize plant photosynthesis and manipulate various physiological processes for better crop quality and yield.
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The Horticulture Lighting market is set to experience substantial growth driven by the rising demand for advanced lighting technologies. These lights are increasingly being utilized for the cultivation of fruits, vegetables, and flowers, thereby fueling market expansion. Furthermore, the growing adoption of Horticulture Lighting systems in vertical farming applications is prompting manufacturers to establish efficient operations, contributing to the overall market growth.
Moreover, the vertical farming is a farming technique that involves growing crops in vertically stacked layers or structures, typically indoors or in controlled environments. This approach utilizes artificial lighting, such as horticulture lighting, to provide the necessary light spectrum and intensity for plant growth. The growing popularity of vertical farming is indeed supporting the growth of the horticulture lighting market. According to Statista, in 2022, the global vertical farming was valued USD 5.6 billion and it is anticipated to reach USD 23.7 billion by 2030. As a result, the growing vertical farming is anticipated to create the lucrative demand for the market. Additionally, incorporation of advanced technologies in horticulture and increase in awareness regarding vertical and indoor farming is anticipated to provide lucrative opportunities for the growth of the Horticulture Lighting market. However, the high cost of Horticulture Lighting stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Horticulture Lighting Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the rising initial adoption of advanced process analytics technology throughout enterprises. Key businesses in nations such as the United States and Canada are providing solutions for rapid and effective operations based on fundamental technologies such as the cloud. North America is expected to grow significantly during the forecast period, owing to growing demand for analytic solutions and services in the healthcare and manufacturing industries. Furthermore, due to the presence of major companies in countries such as Germany, the United Kingdom, France, and others, the area is one of the leading contributors of process analytics revenue.
Major market player included in this report are:
Maxigrow Ltd.
Eye Hortilux
Lumileds Holding B.V
Hortilux Schreder B.V
Heliospectra AB (publ)
Agrolux B.V.
Hubbell Incorporated
Illumitex, Inc
GE Lighting
Gavita Holland B.V
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Recent Developments in the Market:
In March 2022, Acuity Brands unveiled Verjure, a professional-grade horticulture LED lighting solution tailored for indoor horticulture applications. The Verjure Pro Series LED luminaires, developed based on plant-focused research, offer consistent and productive performance throughout all plant growth stages, from vegetative to flowering. The series comes in three sizes and outputs, providing versatility for various growing environments such as indoor warehouses, greenhouses, and vertical racks. With an IP66 rating for waterproofing and robust 6kV surge protection, the Verjure Pro Series LED luminaires ensure durability and reliability.
Global Horticulture Lighting Market Report Scope:
Historical Data: 2020 – 2021
Base Year for Estimatio: 2022
Forecast period: 2023-2030
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Type, Technology, Application, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Customization Scope: Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Type:
Top lighting
Interlighting
By Technology:
Fluorescent
High-Pressure Sodium
Metal Halide
LED
Others
By Application:
Indoor Farming
Greenhouse
Vertical Farming
Others
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa
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