Report Overview:
The following report titled “Global Horticulture Lighting Market: 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.)) and other forecast 2024-2030” provides a comprehensive analysis of the market, focusing on key details such as market size, growth trends, determinants of growth, segments covered, and the role of leading players in the industry.
Global Horticulture Lighting Market 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. The market is driven by the exponentially rising population throughout the world entwined with a rapid climate change, resulting in greater food demand and immense pressure on the agriculture industry. Such swift augmentation in need can only be satiated through additional modern ways like indoor farming that requires horticulture lighting. Additionally, the growing propensity for home-grown fruits and vegetables fuels the market during the forecast period.
Report Coverage & Details
- Forecast Period: 2024-2030
- Base Year: 2023
- Market Size in 2023: USD 6.78 Billion
- CAGR: 16.22%
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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.
Segmentation Analysis: Horticulture Lighting Market
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
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Region: Europe Holds a Major Market Share
Among them, Europe demonstrates a significant shareholding and thereby dominates the Global Horticulture Lighting Market in the historical period.
Leading Players Analysis: Horticulture Lighting Market
The report provides detailed analysis of key players in the global Horticulture Lighting market, highlighting their strategies and competitive scenario.
- 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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