Horticultural Lighting are designed to increase plant growth by stimulating photosynthesis with different wavelengths.
Market Analysis and Insights: Global Horticulture Lighting Market
Due to the COVID-19 pandemic, the global Horticulture Lighting market size is estimated to be worth US$ 2706.3 million in 2022 and is forecast to a readjusted size of US$ 4900 million by 2028 with a CAGR of 10.4% during the forecast period 2022-2028. Fully considering the economic change by this health crisis, Fluorescent Lamps accounting for % of the Horticulture Lighting global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR from 2022 to 2028. While Greenhouses segment is altered to an % CAGR throughout this forecast period.
APAC is expected to be the fastest-growing market for horticulture lighting. Growing urbanization in the developing countries of this region positively affects the growth of the horticulture lighting market owing to the rapid population growth and availability of limited agricultural land. APAC constitutes thriving economies, such as Japan, China, India, and Australia, which are expected to register high growth rates in the horticulture lighting market.
Global Horticulture Lighting Market: Drivers and Restrains
The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2017 to 2028. This section mentions the volume of production by region from 2017 to 2028. Pricing analysis is included in the report according to each type from the year 2017 to 2028, manufacturer from 2017 to 2022, region from 2017 to 2022, and global price from 2017 to 2028.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.
Global Horticulture Lighting Market: Segment Analysis
The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2017 to 2028. by Application segment also provides consumption during the forecast period of 2017 to 2028. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
Segment by Type
Fluorescent Lamps
High-intensity Discharge (HID) Lights
LED Lights
Others
Segment by Application
Greenhouses
Vertical Farming
Indoor Farming
Others
By Company
Philips Lighting
Gavita Holland
GE Lighting
OSRAM
Agrolux
Heliospectra
Hortilux Schreder
Lumileds
PARsource
Illumitex
Hubbell
Maxigrow
Bridgelux
Eye Hortilux
LumiGrow
Production by Region
North America
Europe
China
Japan
Consumption by Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Indonesia
Thailand
Malaysia
Philippines
Vietnam
Latin America
Mexico
Brazil
Argentina