Horticultural lighting is used in urban agriculture, multi-layer cultivation, supplemental lighting, and daylight-free cultivation.Due to increasing awareness about sustainable farming, researchers, governments, and organizations have taken global initiatives to improve horticulture with efficient and adequate lighting.
Increase in demand for advanced lighting-related technologies is expected to boost the growth of the horticulture lighting market.Toshiba and Panasonic have started to support the farmers by providing financial and technical support to establish vertical farms.
Such developments in vertical agriculture are boosting the growth of the horticulture lighting market.
The horticulture lighting market is segmented based on technology, application, and cultivation.Based on technology, the horticulture lighting market is segmented into LED lights, high intensity discharge (HID) lights, and fluorescent lamps.
The LED lights segment led the horticulture lighting market in 2019, and is anticipated to grow at the highest CAGR during the forecast period.In terms of application, the market is categorized into greenhouses, vertical farming, and indoor farming.
The greenhouses segment held the largest market share in 2019.The vertical farming segment is anticipated to grow at the fastest CAGR during the forecast period. Based on cultivation, the market is segmented into fruits and vegetables and floriculture. The fruits and vegetables segment is expected to dominate the market due to increase in demand for fresh vegetables.
In North America, the factory and business shutdowns across the US, Canada, and Mexico negatively impacted the sales of horticulture lighting products, such as LED lights and fluorescent lamps.COVID-19 has had a severe impact on logistics operations, transportation, and trade activity.
North America is home to a large number of manufacturing and technology companies. Thus, the coronavirus outbreak’s impact is anticipated to be quite severe in the year 2020 and likely in 2021.
Key players operating in the horticulture lighting market include Agrolux; Bridgelux, Inc.; Signify N.V.; Heliospectra AB; PARsource; Lumileds Holding B.V.; Hortilux Schréder B.V.; OSRAM Licht AG; General Electric Company; and Hubbell, Inc.
The global horticulture lighting market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining overview and forecast for the horticulture lighting market with respect to all the segments.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants who typically take part in such a process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants, such as valuation experts, research analysts, and key opinion leaders specializing in the horticulture lighting market.
Our reports have been used by over 10K customers, including:
The LED driver market is valued at USD 5200.2 million in 2020, and is expected to reach USD 24,152.3 million in 2026, registering a CAGR of 29.28% during the forecast period (2021 - 2026). LED drivers have become the bottleneck of LED lighting, both in terms of size and reliability. They provide fundamental advantages for LED lighting with...
The grow lights market is projected to grow from USD 1.2 billion in 2021 to USD 4.9 billion by 2026, at a CAGR of 32.2% during the forecast period. Key factors driving the grow lights market growth include increasing government support for the adoption of solid-state lighting technology and controlled-environment agriculture (CEA) practices,...
The global explosion-proof lighting market size is estimated to be USD 340 million in 2021 and is projected to reach 471 million by 2026, at a CAGR of 6.7% during the forecast period. The market has a promising growth potential due to several factors, including the increasing investments in the oil & gas and chemical & pharmaceutical industries...
In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Lighting Control System Market Report
The global lighting control system market by revenue is expected to grow at a CAGR of approx. 19% during 2020–2026.
The APAC region has dominated the market due to a large population and significant...
The automotive lighting market was valued at USD 26.49 billion in 2020, and it is expected to reach USD 39.77 billion by 2026, projecting a CAGR 6.55% during the forecast period. Global sales of cars and SUVs fell to just under 77 million units in 2020, down from a peak of almost 94.35 million units in 2017. The sector is projected...
The decorative lighting market is driven by the use of lighting that sets the ambiance of the room and is expected to promote the use of various lighting fixtures. These lights manipulate the actual size of the room by creating a visually dynamic space. Along with this, appropriate lighting and fixture give a pleasant look to a space. -...
Automotive Lighting - Global Sector Overview and Forecast to 2035 (Q1 2021 Update)
Lighting is, self-evidently, a crucial safety technology for vehicles and pedestrians, enabling the vehicle to be seen at night or in poor visibility conditions and for the driver to see pedestrians, other...
The global horticulture lighting market is projected to grow from USD 2.3 billion in 2020 to USD 6.0 billion by 2025; it is expected to grow at a CAGR of 21.4% from 2020 to 2025. The market has a promising growth potential due to several factors, including the technological advancements in LED technology, rising number of government initiatives...
The MEA LED flashlight market is expected to grow from US$ 40.8 million in 2019 to US$ 51.3 million by 2027; it is estimated to grow at a CAGR of 3.0 % from 2020 to 2027. Increasing use of light emitting diode (LED) flashlights in hazardous industrial environments drives the growth of the MEA LED flashlight market.Increasing preference...
The SAM LED flashlight market is expected to grow from US$ 35.6 million in 2019 to US$ 43.0 million by 2027; it is estimated to grow at a CAGR of 2.5% from 2020 to 2027. Increasing preference for energy-efficient and nonconventional lighting solutions drives the growth of the SAM LED flashlight market.Incandescent bulbs comprising glowing...
Gross Domestic Product
You can change your Cookie Settings at any time but parts of our site will not function correctly without them.