According to Markntel Advisors Report, Horticulture Lighting Market is expected to grow at a significant growth rate, and the analysis period is 2025-2030, considering the base year as 2024.Consistent monitoring and evaluating of market dynamics to stay informed and adapt your strategies accordingly. As a market research and consulting firm, we offer market research reports that focus on major parameters including Target Market Identification, Customer Needs and Preferences, Thorough Competitor Analysis, Market Size & Market Analysis, and other major factors. At the end, we do provide meaningful insights and actionable recommendations that inform decision-making and strategy development.
Horticulture mainly deals with ornamental plants, garden crops, fruits, and vegetables. And artificial lights deployed to enable photosynthesis in such settings, when lacking natural daylight, are referred to as Horticulture lighting.
Global Horticulture Lighting Market Research Report & Summary:
The Global Horticulture Lighting Market size is valued at around USD 6.78 Billion in 2023 and is projected to grow at a CAGR of around 16.22% during the forecast period, i.e., 2024-30.
Time Period Captured in the Report:
- Historical Years: 2020-2023
- Base Years: 2024
- Forecast Years: 2025-2030
Who are the Key Players Operating in the Horticulture Lighting Market?
The top companies of the Horticulture Lighting Market ruling the industry are:
Bridgelux Inc., EYE Hortilux, Maxigrow Ltd, Hortilux Schreder, Osram Licht AG, Gavita International BV, Lumileds, Agrolux, PARsource, Heliospectra, Signify, Valoya, California Lightworks, LumiGrow, EYE Hortilux, Others
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What is Included in Horticulture Lighting Market Segmentation?
The Horticulture Lighting Market explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:
-By Application
-Indoor Farming
-Greenhouse
-Vertical Farming
-By Technology
-High-Intensity Discharge (HID)
-LED
-High-Pressure Sodium Lamp
-Fluorescent
-T5
-CFL
-By Offering
-Hardware
-Software
-Services
-By Cultivation
-Vegetable
-Fruits
-Floriculture
-Others (Medicinal plants, Aromatic, etc.)
-By Lighting Type
-Top lighting
-Inter lighting
-Supplemental Lighting
-Sole-Source Lighting
-Photoperiodic Lighting
-By Region
-North America
-South America
-Europe
-The Middle East & Africa
-Asia-Pacific
Explore the Complete Horticulture Lighting Market Analysis Report – https://www.marknteladvisors.com/research-library/horticulture-lighting-market.html
Global Horticulture Lighting Market Driver:
Widespread Adoption of Horticulture Lighting in Numerous Agricultural Applications - The increased deployment of horticulture lighting in numerous agricultural applications, including urban farming, supplemental lighting, cultivation without daylight, and multilayer cultivation, provides the necessary impetus to the market for the projected timeframe. Further, the growing vertical farming applications and greenhouse projects enthrall the market. Additionally, the population boom for the past few years, instigating the farmers to go indoors and utilize every bit of resource to cater to the up-scaling needs, further propels the market through 2030.
Global Horticulture Lighting Market Possible Restraint:
Need for Well-Equipped Infrastructure for CEA - Intricacies involved in deploying CEA technology tend to hinder market growth as it poses additional requirements in terms of nutrients, light, water, and climate control devices for plants' overall development, resulting in enhanced costs for overall harvest. That said, it is quite challenging to supervise and facilitate such practices, especially in larger fields. It directly impacts the design and development of horticulture lighting fixtures for plant growth. Therefore, the increased cost and effective management pose challenges to the stakeholders.
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