Horticulture Lighting Market with Strong Focus on Industry Size, by Financial Highlights, Market Segments, Growth Rate, Revenue, and Forecast to 2028
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.
To help gain the business owner further gain business intelligence the study on the horticulture lighting market for the forecast period, brings to light data on production capability, consumption capacity, spending power, investment feasibility, and technology innovation. A thorough assessment of market performance across different regions is presented through self-explanatory graphic images, charts, and tables that add weight to corporate presentations and marketing materials. The study offers regional profiles of major vendors and extensive country-level break down to empower companies to make a wise investment decision when exploring new regions.
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The market intelligence study for the horticulture lighting market further provides an inside-out overview of necessary aspects associated with the product classification, important definitions, major orders and other industry-centric parameters. An underlying part of the study also maps the important factors associated with the recent events such as mergers and acquisition, collaboration and new product launches. In addition, the research lays down a robust groundwork for obtaining a vast amount of information that potential customers can use to increase their profits and reduce costs. The inclusion of data on market segmentation by type, application, and geography offers clarity presents an analytical picture of, what manufacturers are aiming for.
Companies profiled in the global horticulture lighting market:
Signify, Gavita International B.V., Heliospectra, Osram Licht AG, California Lightworks, Valoya, LumiGrow, Hortilux Schréder, EYE HORTILUX, and ILUMINAR Lighting.
The report also covers the scope of individual applications and types in each region. The report also covers details about production and consumption patterns, technological developments, revenue growth, market size, market share, key trends and demands influencing market growth in the region, and robust presence of key players in the region.
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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.
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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)
- Interlighting
- Toplighting
Lighting Technology Outlook (Revenue, USD Billion; 2018–2028)
- Light-Emitting Diode (LED)
- High-Intensity Discharge (HID)
- Others
Application Outlook (Revenue, USD Billion; 2018–2028)
- Indoor Farms
- Vertical Farms
- Greenhouses
- Others
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The study dives deep into the profiles of top market players and their key financials. This comprehensive report is not only for business analysts and any existing and new entrant can use it when designing their business strategies. The research is one of its kind global analyses of aspects such as import and export status, supply chain management, profit and gross margin worldwide for the forecast period. Extensive coverage of statistics associated with recent events including acquisition and mergers and strengths and weaknesses of a company forms an important part of the study on the horticulture lighting market.
Key Features of the horticulture lighting Market Report:
- The report offers details about key drivers, restraints, opportunities, challenges, growth prospects, limitations, and threats
- The report encompasses details about the key companies, product portfolio along with specifications, production valuation, and market shares
- Evaluation of key current and emerging market trends and growth prospects
- It also offers research-backed estimations for the forecast period of eight years, primarily to estimate the potential market growth
- Brief overview of industry with regards to research and development, technological advancements, and product development
- In-depth assessment of upstream raw materials, downstream buyers, demands, and current market scenario
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