Horticulture Lighting Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2023-2032
- Report ID: ME_0099148
- Format: Electronic (PDF)
- Publish Type: Publish
- Number of Pages: 250
Market Snapshot
Source: Market Expertz
| Study Period | 2019-2032 |
| Base Year | 2023 |
| Forcast Year | 2023-2032 |
| CAGR | 8.19 |
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The Horticulture Lighting Market size is estimated to grow at a CAGR of 8.92% between 2022 and 2032. The market size is forecast to increase by USD 4,567.21 million. The growth of the market depends on several factors, including the increasing adoption of indoor farming practices, the rising demand for year-round cultivation of crops, and the growing awareness about the benefits of controlled environment agriculture. Horticulture lighting refers to the use of artificial lighting solutions to provide the necessary light spectrum and intensity for plant growth in indoor or greenhouse settings. It is commonly used in commercial horticulture, vertical farming, and urban agriculture to optimize plant growth and enhance crop yield.
Horticulture Lighting Market Overview:
Drivers:
One of the key factors driving the horticulture lighting market growth is the increasing adoption of indoor farming practices. Indoor farming allows for year-round cultivation of crops in controlled environments, independent of external weather conditions. Horticulture lighting plays a crucial role in indoor farming by providing the necessary light spectrum and intensity for photosynthesis and plant growth. By using artificial lighting solutions, farmers can optimize crop production, extend growing seasons, and overcome geographical limitations. This has led to a significant increase in the adoption of horticulture lighting systems in commercial greenhouses and vertical farming facilities.
Moreover, the rising demand for year-round cultivation of crops is also driving the market growth. With the growing population and changing dietary preferences, there is a need for consistent and reliable food supply throughout the year. Horticulture lighting enables farmers to cultivate crops in any season, regardless of natural sunlight availability. This not only ensures a steady food supply but also reduces the dependence on seasonal imports. As a result, there is a growing demand for horticulture lighting solutions to support year-round crop production and meet the increasing food demand.
Trends:
A key trend shaping the horticulture lighting market is the adoption of LED-based lighting solutions. LED lights offer several advantages for horticulture applications, including energy efficiency, long lifespan, and customizable light spectra. LED-based horticulture lighting fixtures can be tailored to emit specific wavelengths of light that are optimal for plant growth at different stages. This allows farmers to provide the ideal light conditions for various crops, resulting in improved crop quality and yield. Additionally, LED lights consume less energy, generate less heat, and have a longer operational life compared to traditional lighting technologies, making them a preferred choice for horticulture lighting applications.
Furthermore, there is a growing focus on sustainable and energy-efficient horticulture lighting solutions. Manufacturers are developing lighting systems that minimize energy consumption while maximizing crop productivity. This includes the use of advanced control systems, such as light sensors and automated dimming, to optimize light intensity and duration based on plant requirements. Additionally, the integration of smart technologies, such as Internet of Things (IoT) and artificial intelligence (AI), is enabling real-time monitoring and adjustment of lighting parameters, further enhancing energy efficiency and crop performance.
Restraints:
One of the key challenges hindering the horticulture lighting market growth is the high initial cost of LED-based lighting systems. Although LED lights offer long-term cost savings through energy efficiency and durability, their upfront cost is relatively higher compared to traditional lighting technologies. This cost factor may deter small-scale farmers or price-sensitive markets from adopting LED-based horticulture lighting solutions. However, as the technology advances and economies of scale improve, the cost of LED lighting systems is expected to decrease, making them more accessible to a wider range of farmers.
Horticulture Lighting Market Segmentation By Application:
The commercial horticulture segment is estimated to witness significant growth during the forecast period. Commercial horticulture includes large-scale greenhouse operations, vertical farms, and indoor cultivation facilities. Horticulture lighting is essential in these settings to provide the necessary light spectrum and intensity for optimal plant growth. It enables farmers to control various growth parameters, such as light intensity, photoperiod, and light quality, to maximize crop yield and quality. The increasing adoption of commercial horticulture practices, driven by the demand for locally grown produce and sustainable farming methods, is fueling the demand for horticulture lighting solutions in this segment.
The residential horticulture segment is also expected to contribute to the market growth. With the growing popularity of indoor gardening and urban agriculture, more individuals are setting up small-scale horticulture setups in their homes. Horticulture lighting plays a crucial role in these residential settings by providing the necessary light conditions for plant growth. LED grow lights or specialized horticulture lighting fixtures are commonly used to support indoor gardening activities and ensure healthy plant development.
Horticulture Lighting Market Segmentation By Type:
The LED-based horticulture lighting segment is expected to dominate the market during the forecast period. LED lights offer several advantages for horticulture applications, including energy efficiency, customizable light spectra, and long lifespan. LED-based horticulture lighting fixtures can be tailored to emit specific wavelengths of light that are optimal for plant growth at different stages. This allows farmers to provide the ideal light conditions for various crops, resulting in improved crop quality and yield. Additionally, LED lights consume less energy, generate less heat, and have a longer operational life compared to traditional lighting technologies, making them a preferred choice for horticulture lighting applications.
Regional Overview:
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North America is estimated to contribute significantly to the growth of the global horticulture lighting market during the forecast period. The region has a strong presence of commercial greenhouse operations and vertical farming facilities, driven by the demand for locally grown produce and sustainable farming practices. The adoption of horticulture lighting solutions is high in North America, supported by favorable government initiatives promoting indoor farming and energy-efficient lighting technologies.
Europe is also expected to witness substantial growth in the horticulture lighting market. The region has a well-established greenhouse industry and a strong emphasis on sustainable agriculture. The increasing demand for locally grown, pesticide-free produce and the growing awareness about the benefits of controlled environment agriculture are driving the market in Europe.
Horticulture Lighting Market Customer Landscape:
The horticulture lighting market industry report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Who are the Major Horticulture Lighting Market Companies?
Companies are implementing various strategies, such as product launches, partnerships, mergers and acquisitions, and geographical expansion, to enhance their presence in the market.
Some of the major companies operating in the horticulture lighting market include:
- Acuity Brands Lighting Inc.
- Cree Inc.
- Eaton Corporation
- General Electric Company
- Hubbell Incorporated
- Koninklijke Philips N.V.
- Legrand SA
- Osram Licht AG
- Signify Holding
The research report also includes detailed analyses of the competitive landscape of the market and information about key market players. Data is qualitatively analyzed to categorize companies based on their market presence and strength.
Segment Overview:
The horticulture lighting market report forecasts market growth by revenue at global, regional, and country levels and provides an analysis of the latest trends and growth opportunities from 2019 to 2032.
- Application Outlook (USD Million, 2019 - 2032)
o Commercial Horticulture
o Residential Horticulture
o Others
- Type Outlook (USD Million, 2019 - 2032)
o LED-based
o Fluorescent-based
o HID-based
o Others
- Geography Outlook (USD Million, 2019 - 2032)
o North America
- The U.S.
- Canada
o Europe
- K.
- Germany
- France
- Rest of Europe
o Asia Pacific
- China
- India
o South America
- Brazil
- Argentina
- Rest of South America
o Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
TABLE OF CONTENTS: GLOBAL Horticulture Lighting MARKET
Chapter 1. MARKET SYNOPSIS
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. EXECUTIVE SUMMARY
2.1. Summary Snapshot, 2016 - 2027
Chapter 3. INDICATIVE METRICS
3.1. Macro Indicators
Chapter 4. Horticulture Lighting MARKET SEGMENTATION & IMPACT ANALYSIS
4.1. Horticulture Lighting Segmentation Analysis
4.2. Industrial Outlook
4.3. Price Trend Analysis
4.4. Regulatory Framework
4.5. Porter's Five Forces Analysis
4.5.1. Power Of Suppliers
4.5.2. Power Of Buyers
4.5.3. Threat Of Substitutes
4.5.4. Threat Of New Entrants
4.5.5. Competitive Rivalry
Chapter 5. Horticulture Lighting MARKET BY TYPE INSIGHTS & TRENDS
5.1. Segment 1 Dynamics & Market Share, 2019 & 2027
5.2. Type 1
5.2.1. Market Estimates And Forecast, 2016 - 2027 (USD Million)
5.2.2. Market Estimates And Forecast, By Region, 2016 - 2027 (USD Million)
5.3. Type 2
5.3.1. Market Estimates And Forecast, 2016 - 2027 (USD Million)
5.3.2. Market Estimates And Forecast, By Region, 2016 - 2027 (USD Million)
Chapter 6. Horticulture Lighting MARKET BY APPLICATION INSIGHTS & TRENDS
6.1. Segment 2 Dynamics & Market Share, 2019 & 2027
6.2. Application 1
6.2.1. Market Estimates And Forecast, 2016 - 2027 (USD Million)
6.2.2. Market Estimates And Forecast, By Region, 2016 - 2027 (USD Million)
6.3. Application 2
6.3.1. Market Estimates And Forecast, 2016 - 2027 (USD Million)
6.3.2. Market Estimates And Forecast, By Region, 2016 - 2027 (USD Million)
6.4. Application 3
6.4.1. Market Estimates And Forecast, 2016 - 2027 (USD Million)
6.4.2. Market Estimates And Forecast, By Region, 2016 - 2027 (USD Million)
6.5. Application 4
6.5.1. Market Estimates And Forecast, 2016 - 2027 (USD Million)
6.5.2. Market Estimates And Forecast, By Region, 2016 - 2027 (USD Million)
Chapter 7. Horticulture Lighting MARKET REGIONAL OUTLOOK
7.1. Horticulture Lighting Market Share By Region, 2019 & 2027
7.2. NORTH AMERICA
7.2.1. North America Horticulture Lighting Market Estimates And Forecast, 2016 - 2027, (USD Million)
7.2.2. North America Horticulture Lighting Market Estimates And Forecast By Segment 1, 2016 -2027, (USD Million)
7.2.3. North America Horticulture Lighting Market Estimates And Forecast By Segment 2, 2016 -2027, (USD Million)
7.2.4. North America Horticulture Lighting Market Estimates And Forecast By Segment 3, 2016 -2027, (USD Million)
7.2.5. U.S.
7.2.5.1. U.S. Horticulture Lighting Market Estimates And Forecast, 2016 - 2027, (USD Million)
7.2.5.2. U.S. Horticulture Lighting Market Estimates And Forecast By Segment 1, 2016 -2027, (USD Million)
7.2.5.3. U.S. Horticulture Lighting Market Estimates And Forecast By Segment 2, 2016 -2027, (USD Million)
7.2.5.4. U.S. Horticulture Lighting Market Estimates And Forecast By Segment 3, 2016 -2027, (USD Million)
7.2.6. CANADA
7.2.6.1. Canada Horticulture Lighting Market Estimates And Forecast, 2016 - 2027, (USD Million)
7.2.6.2. Canada Horticulture Lighting Market Estimates And Forecast By Segment 1, 2016 -2027, (USD Million)
7.2.6.3. Canada Horticulture Lighting Market Estimates And Forecast By Segment 2, 2016 -2027, (USD Million)
7.2.6.4. Canada Horticulture Lighting Market Estimates And Forecast By Segment 3, 2016 -2027, (USD Million)
7.3. EUROPE
7.3.1. Europe Horticulture Lighting Market Estimates And Forecast, 2016 - 2027, (USD Million)
7.3.2. Europe Horticulture Lighting Market Estimates And Forecast By Segment 1, 2016 -2027, (USD Million)
7.3.3. Europe Horticulture Lighting Market Estimates And Forecast By Segment 2, 2016 -2027, (USD Million)
7.3.4. Europe Horticulture Lighting Market Estimates And Forecast By Segment 3, 2016 -2027, (USD Million)
7.3.5. GERMANY
7.3.5.1. Germany Horticulture Lighting Market Estimates And Forecast, 2016 - 2027, (USD Million)
7.3.5.2. Germany Horticulture Lighting Market Estimates And Forecast By Segment 1, 2016 -2027, (USD Million)
7.3.5.3. Germany Horticulture Lighting Market Estimates And Forecast By Segment 2, 2016 -2027, (USD Million)
7.3.5.4. Germany Horticulture Lighting Market Estimates And Forecast By Segment 3, 2016 -2027, (USD Million)
7.3.6. FRANCE
7.3.6.1. France Horticulture Lighting Market Estimates And Forecast, 2016 - 2027, (USD Million)
7.3.6.2. France Horticulture Lighting Market Estimates And Forecast By Segment 1, 2016 -2027, (USD Million)
7.3.6.3. France Horticulture Lighting Market Estimates And Forecast By Segment 2, 2016 -2027, (USD Million)
7.3.6.4. France Horticulture Lighting Market Estimates And Forecast By Segment 3, 2016 -2027, (USD Million)
7.3.7. U.K.
7.3.7.1. U.K. Horticulture Lighting Market Estimates And Forecast, 2016 - 2027, (USD Million)
7.3.7.2. U.K. Horticulture Lighting Market Estimates And Forecast By Segment 1, 2016 -2027, (USD Million)
7.3.7.3. U.K. Horticulture Lighting Market Estimates And Forecast By Segment 2, 2016 -2027, (USD Million)
7.3.7.4. U.K. Horticulture Lighting Market Estimates And Forecast By Segment 3, 2016 -2027, (USD Million)
7.4. ASIA-PACIFIC
7.4.1. Asia Pacific Horticulture Lighting Market Estimates And Forecast, 2016 - 2027, (USD Million)
7.4.2. Asia Pacific Horticulture Lighting Market Estimates And Forecast By Segment 1, 2016 -2027, (USD Million)
7.4.3. Asia Pacific Horticulture Lighting Market Estimates And Forecast By Segment 2, 2016 -2027, (USD Million)
7.4.4. Asia Pacific Horticulture Lighting Market Estimates And Forecast By Segment 3, 2016 -2027, (USD Million)
7.4.5. CHINA
7.4.5.1. China Horticulture Lighting Market Estimates And Forecast, 2016 - 2027, (USD Million)
7.4.5.2. China Horticulture Lighting Market Estimates And Forecast By Segment 1, 2016 -2027, (USD Million)
7.4.5.3. China Horticulture Lighting Market Estimates And Forecast By Segment 2, 2016 -2027, (USD Million)
7.4.5.4. China Horticulture Lighting Market Estimates And Forecast By Segment 3, 2016 -2027, (USD Million)
7.4.6. INDIA
7.4.6.1. India Horticulture Lighting Market Estimates And Forecast, 2016 - 2027, (USD Million)
7.4.6.2. India Horticulture Lighting Market Estimates And Forecast By Segment 1, 2016 -2027, (USD Million)
7.4.6.3. India Horticulture Lighting Market Estimates And Forecast By Segment 2, 2016 -2027, (USD Million)
7.4.6.4. India Horticulture Lighting Market Estimates And Forecast By Segment 3, 2016 -2027, (USD Million)
7.4.7. JAPAN
7.4.7.1. Japan Horticulture Lighting Market Estimates And Forecast, 2016 - 2027, (USD Million)
7.4.7.2. Japan Horticulture Lighting Market Estimates And Forecast By Segment 1, 2016 -2027, (USD Million)
7.4.7.3. Japan Horticulture Lighting Market Estimates And Forecast By Segment 2, 2016 -2027, (USD Million)
7.4.7.4. Japan Horticulture Lighting Market Estimates And Forecast By Segment 3, 2016 -2027, (USD Million)
7.4.8. AUSTRALIA
7.4.8.1. Australia Horticulture Lighting Market Estimates And Forecast, 2016 - 2027, (USD Million)
7.4.8.2. Australia Horticulture Lighting Market Estimates And Forecast By Segment 1, 2016 -2027, (USD Million)
7.4.8.3. Australia Horticulture Lighting Market Estimates And Forecast By Segment 2, 2016 -2027, (USD Million)
7.4.8.4. Australia Horticulture Lighting Market Estimates And Forecast By Segment 3, 2016 -2027, (USD Million)
7.5. MIDDLE EAST AND AFRICA (MEA)
7.5.1. Mea Horticulture Lighting Market Estimates And Forecast, 2016 - 2027, (USD Million)
7.5.2. Mea Horticulture Lighting Market Estimates And Forecast By Segment 1, 2016 -2027, (USD Million)
7.5.3. Mea Horticulture Lighting Market Estimates And Forecast By Segment 2, 2016 -2027, (USD Million)
7.5.4. Mea Horticulture Lighting Market Estimates And Forecast By Segment 3, 2016 -2027, (USD Million)
7.6. LATIN AMERICA
7.6.1. Latin America Horticulture Lighting Market Estimates And Forecast, 2016 - 2027, (USD Million)
7.6.2. Latin America Horticulture Lighting Market Estimates And Forecast By Segment 1, 2016 -2027, (USD Million)
7.6.3. Latin America Horticulture Lighting Market Estimates And Forecast By Segment 2, 2016 -2027, (USD Million)
7.6.4. Latin America Horticulture Lighting Market Estimates And Forecast By Production Process, 2016 -2027, (USD Million)
7.6.5. Latin America Horticulture Lighting Market Estimates And Forecast By Segment 3, 2016 -2027, (USD Million)
Chapter 8. COMPETITIVE LANDSCAPE
8.1. Market Share By Manufacturers
8.2. Strategic Benchmarking
8.2.1. New Product Launches
8.2.2. Investment & Expansion
8.2.3. Acquisitions
8.2.4. Partnerships, Agreement, Mergers, Joint-Ventures
8.3. Vendor Landscape
8.3.1. North American Suppliers
8.3.2. European Suppliers
8.3.3. Asia-Pacific Suppliers
8.3.4. Rest Of The World Suppliers
Chapter 9. COMPANY PROFILES
9.1. Company 1
9.1.1. Company Overview
9.1.2. Financial Performance
9.1.3. Product Insights
9.1.4. Strategic Initiatives
9.2. Company 2
9.2.1. Company Overview
9.2.2. Financial Performance
9.2.3. Product Insights
9.2.4. Strategic Initiatives
9.3. Company 3
9.3.1. Company Overview
9.3.2. Financial Performance
9.3.3. Product Insights
9.3.4. Strategic Initiatives
9.4. Company 4
9.4.1. Company Overview
9.4.2. Financial Performance
9.4.3. Product Insights
9.4.4. Strategic Initiatives
9.5. Company 5
9.5.1. Company Overview
9.5.2. Financial Performance
9.5.3. Product Insights
9.5.4. Strategic Initiatives
9.6. Company 6
9.6.1. Company Overview
9.6.2. Financial Performance
9.6.3. Product Insights
9.6.4. Strategic Initiatives
9.7. Company 7
9.7.1. Company Overview
9.7.2. Financial Performance
9.7.3. Product Insights
9.7.4. Strategic Initiatives
9.8. Company 8
9.8.1. Company Overview
9.8.2. Financial Performance
9.8.3. Product Insights
9.8.4. Strategic Initiatives
9.9. Company 9
9.9.1. Company Overview
9.9.2. Financial Performance
9.9.3. Product Insights
9.9.4. Strategic Initiatives
9.10. Company 10
9.10.1. Company Overview
9.10.2. Financial Performance
9.10.3. Product Insights
9.10.4. Strategic Initiatives
List of Tables and Figures
RESEARCH METHODOLOGY
A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.
Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.
Now let’s take a closer look at the research methods here.
Secondary Research Model
Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.
Primary Insights
Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.
However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.
Market Estimation
The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.
Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.
Final Presentation
The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.
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