The latest Horticulture Lighting market research report is a compilation of the latest growth trends and the emerging market segments. The report adeptly draws reader’s attention to the ever-changing patterns of the Horticulture Lighting industry and its prominent facets, infrastructural properties, and highly dynamic environment. The report lists down some critically important parameters that help the market bolster its global foothold and contribute substantially to future revenue generation. Our team of experts has included specific details related to the Horticulture Lighting industry, such as product offerings, sales and revenue estimates, leading regions, key market contenders, and technological upgradation in the report.
The global horticulture lighting market size is expected to reach USD 11.27 Billion in 2028 and register a steady revenue CAGR over the forecast period, according to latest analysis by Emergen Research. Steady market revenue growth can be attributed to rising demand for environmentally friendly and energy-efficient Light-Emitting Diode (LED) systems in horticulture to maximize crop yield and reduce energy consumption. Development of new and more advanced technologies related with smart agriculture is expected to drive growth of the global horticulture lighting market going ahead. Increasing concerns regarding global food security owing rapidly increasing global population and limited availability of arable land are factors expected to open up more lucrative opportunities for players operating in the greenhouse and indoor farming space, and drive demand for horticulture lighting in greenhouses and indoor farms over the forecast period.
Increasing awareness among farmers regarding the benefits of vertical farming is expected to have significantly favorable impact on the market. Vertical farming optimizes resources and indoor space and entails stacking of farming structures vertically to hold growing plants. Rising need to minimize water and fertilizer usage to reduce environmental degradation and impact are other key factors contributing to increasing deployment of vertical farming.
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The report by Emergen Research, titled ‘Global Horticulture Lighting Market,’ studies a wide spectrum of factors impacting the performance of the Horticulture Lighting market. The report includes a historical analysis of the market from 2017 to 2018 to provide the reader with a deep understanding of the current market scenario. Moreover, it offers accurate market estimations for the forecast period (2019-2028).
The report is the latest document encompassing the profound changes in the market dynamics and trends that followed the COVID-19 outbreak. The global health crisis has led to massive changes in the global economic scenario and, particularly, this business sphere. The pandemic has drastically affected the Horticulture Lighting market with disruptions to supply chains and volatility in prices and demands. The remarkable impact of the pandemic on the Horticulture Lighting industry and its crucial segments has been depicted in the report. However, the market is expected to regain momentum in the post-COVID scenario, as per market experts.
The research offers an in-depth survey about the performance of each key player in the Horticulture Lighting market. It provides information about their current advancements and key market strategies. The Horticulture Lighting report also aims to provide additional information about suppliers, buyers, and manufacturers. The study offers a comprehensive analysis of market share, consumption, growth rate, and product type, and application growth. It further offers comprehensive coverage of the strategic alliances such as mergers and acquisitions, joint ventures, collaborations, product launches, brand promotions, and partnerships, among others. The company profiles of the established and new players have also been assessed in the Horticulture Lighting report through effective analytical tools like SWOT analysis.
Top key Companies in Horticulture Lighting Market are:
Signify, Gavita International B.V., Heliospectra, Osram Licht AG, California Lightworks, Valoya, LumiGrow, Hortilux Schréder, EYE HORTILUX, and ILUMINAR Lighting.
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The report further segments the Horticulture Lighting market on the basis of product types and application spectrum offered in the market. The report also offers insights into the segment expected to show significant growth over the projected period. The study focuses on the growth rate of every segment and is explained through detailed graphs, figures, charts, and tables. These segments are analysed on the basis of present, emerging, and future trends. The regional segmentation provides current and forecast demand estimation for the Horticulture Lighting industry in key regions.
Emergen Research has segmented the global horticulture lighting market on the basis of lighting type, lighting technology, application, and region:
- Lighting Type Outlook (Revenue, USD Billion; 2018–2028)
- Lighting Technology Outlook (Revenue, USD Billion; 2018–2028)
- Light-Emitting Diode (LED)
- High-Intensity Discharge (HID)
- Application Outlook (Revenue, USD Billion; 2018–2028)
- Indoor Farms
- Vertical Farms
Some Key Highlights From the Report
- In August 2020, Signify entered into a cooperative agreement with Yunnan AiBiDa Greenhouse Technology Co., LTD. in order to become a research partner utilizing Philips GreenPower LED products as a supplementary lighting for its greenhouse floriculture production. The agreement is expected to help Signify in improving crop growth efficiency and quality in western China.
- Interlighting segment accounted for largest revenue share in 2020. LED interlighting system enables plant growth and harvest irrespective of location, which is driving deployment.
- LED segment revenue is expected to expand at a rapid CAGR during the forecast period. Increasing initiatives by government to encourage adoption of energy-efficient LEDs in horticulture to reduce energy consumption is expected to boost demand for LEDs going ahead and drive market growth.
- Indoor farms segment accounted for a significantly high revenue share in the horticulture lighting market in 2020. Farmers are increasingly adopting indoor farming practices due to need to ensure better food security and to cater to rising demand for immediate access to fresh produce.
- Europe accounted for largest revenue share contribution to the global horticulture lighting market in 2020. Increasing initiatives by the European Union to promote adoption of LED grow lights are projected to create more lucrative growth opportunities for manufacturers of LED lamps and modules in countries in the region and drive growth of the horticulture lighting market in Europe over the forecast period.
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The report gives a comprehensive analysis of the Horticulture Lighting market at the global and regional level, and the forecast has been presented in terms of value and price for the period of 8 years from 2020-2027. The report covers an extensive study of the market drivers and restraints on the global scale and provides an impact analysis of those market drivers and restraints on the demand and supply ratio for the Horticulture Lighting market throughout the forecast period.
The complete regional analysis covers:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The Global Horticulture Lighting Market is formulated through extensive primary and secondary research, which is further validated and verified by industry experts and professionals. SWOT analysis and Porter’s Five Forces Analysis are used to examine and assess the market and its players. Moreover, the report also offers a feasibility study and investment return analysis to assist the readers in making strategic investment plans.
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Key takeaways of the Global Horticulture Lighting Market report:
- The report sheds light on the fundamental Horticulture Lighting market drivers, restraints, opportunities, threats, and challenges.
- It elaborates on the new, promising arenas in the leading Horticulture Lighting market regions.
- It examines the latest research & development projects and technological innovations taking place in the key regional segments.
- The research report reviews the regulatory framework for creating new opportunities in various regions of the Horticulture Lighting market
- It focuses on the new revenue streams for the players in the emerging Horticulture Lighting markets.
- Furthermore, the report offers vital details about the rising revenue shares and the sizes of the key product segments.
Overview of the TOC of the Report:
- Introduction, Scope, and Overview
- Opportunities, Risks, and Drivers
- Competition landscape analysis with sales, revenue, and price
- Extensive Profiling of the Horticulture Lighting key competitors with the sales figures, revenue, and market share
- Regional analysis with sales, revenue, and market share for each region for the forecast period
- Country-wise analysis of the Horticulture Lighting market by type, application, and manufacturers
- Horticulture Lighting Market Segmentation based on types
- Horticulture Lighting Market segmentation based on applications
- Historical and forecast estimation
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