Market Highlights
The global horticulture lighting market spans across North America, Europe, Asia-Pacific, rest of the World.
There are different types of lighting applications and characteristics used in horticulture including photoperiodic lighting, supplemental lighting, and sole-source lighting. Lamps in horticulture lighting operate for 18 to 24 hours continuously. In this rapidly progressing environment, legalization of cannabis for medicinal purposes and a steady supply of crops despite unfavorable weather conditions for farming across geographies are contributing to the growth of electronic industry. This is resulting in the growth of the horticulture lighting market analysis. The study also indicates that the lighting industry would expect a substantial increase in the horticulture lighting market due to rising demand for indoor grown fruits, vegetables, and flowers.
There has been a considerable increase in the demand for grow lights. Rapid population growth & availability of limited agricultural land, increased in year-round high-quality yield, and the government investments and initiatives are driving the horticulture lighting market. High capital cost associated with LED grow light technologies which would be a restraining factor for the horticulture lighting market.
The horticulture market in North America is growing at a CAGR of 16.62%. Many startup farms and food suppliers have been adopting LED horticulture lighting solutions to tackle weather-related challenges. LEDs provides sustainable and efficient solution for issues arising due to the changing weather conditions. ANSI/UL 1598 is a national safety standard for lighting/luminaires for use within North America; it includes safety testing for temperature, shock, and reliable mounting methods. In November 2018, Osram launched the new VYPR 2p and VYPR 2x light systems. These systems are used to improve the amount of photosynthetic photon flux (PPF) by up to 1,700 micromoles/second (µmol/s), at an efficient rate of 2.7 micromoles/Joule (µmol/J). The top-lighting subsegment of lighting type and HID light subsegment of technology are dominating in North America region.
As Asia is the most populated area in the world, horticulture lighting is considered as an efficient way to increase the production of crops for Asian food growers. Japan leads the Asia-Pacific region in the introduction and adoption of cutting-edge technologies. The Japan Plant Factory Association has introduced new approaches for horticulture. In 2017 and 2018 India was the second largest producer of fruits and vegetables accounting for 10.9% and 8.6% of the world’s total fruit and vegetable production, respectively. In May 2019, Samsung Electronics, a well-established manufacturer in South Korea, has launched a new horticulture LED with a feature of its advanced “red LED” package.
Taste the market data and market information presented through more than 30 market data tables and figures spread over 159 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Global Horticulture Lighting Market Research Report –Forecast till 2026”.
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Global Horticulture Lighting Market: Segmentation
The global Horticulture Lighting market is segmented into technology, lighting type, cultivation, application, and region.
By technology, the market has been segmented into high intensity discharge light, LED light, florescent lighting, and others.
By lighting type, the market has been segmented into top-lighting and inter-lighting.
By cultivation, the market has been segmented into fruits & vegetables and floriculture.
Based on application, the market has been segmented into greenhouse, vertical farming, indoor farming, and others.
The key players of the global horticulture lighting market are Bridgelux, Inc. (US), LumiGrow, Inc. (US), EYE Hortilux (US), Maxigrow Ltd (UK), Signify Holding (Philips Lighting) (The Netherlands), GE Lighting (US), Hortilux Schreder (The Netherlands), Osram Licht AG (Germany), Gavita International BV (The Netherlands), Lumileds (US), Hubbell Lighting (US), Agrolux (The Netherlands), PARsource (US), Illumitex (US), and Heliospectra AB (Sweden) among others.
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It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2020-2027.The report also covers detailed competitive landscape including company profiles of key players operating in the global market.
The key players in the horticulture LED lighting market includes Cree, Inc., Everlight Electronics, Gavita, General Electric, Heliospectra AB, Hubbell Incorporated, Lumi Grow, OSRAM, and Phillips.
An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.Get more information on "Global Horticulture LED Lighting Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/horticulture-led-lighting-market/download-sampleMarket DynamicsGrowing urban farming, lack of arable land coupled with the rising investment in horticulture is expected to drive the market growth.
Expanding the horticulture sector coupled with the improvement in agricultural practice is again expected to propel the market growth.
Growth in city farming along with the advancement in technology in terms of agricultural equipment is further adding impetus growth to the market.This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis.
These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities.
Market Research Future has come up with the latest report on the “Global Horticulture Lighting Market 2020”.
The survey covered the impact of COVID-19 on everything, including the economy.
On this, MRFR reveals that the global market earlier achieved a valuation of USD 2476.5 Million in 2018 and would now scale up to USD 34.586 Million by 2024 at a CAGR of 19.17% during the forecast period.Market Research Future (MRFR) in its report envelops segmentations and drivers to provide a better glimpse of the market in the coming years.
In this rapidly progressing environment, legalization of Cannabis for medicinal purposes, a steady supply of crops despite unfavorable weather conditions for farming across geographies are contributing to the growth of the electronic industry which is driving the growth in the horticulture lighting market.Competitive AnalysisThe Key Players of Global Horticulture Lighting Market are Signify (Philips Lighting) (Netherlands), Gavita (Netherlands), GE Lighting (US), Osram (Germany), Agrolux (Netherlands), Heliospectra (Sweden), Hortilux Schreder (Netherlands), Lumileds (Netherlands), resource (US), and Illumitex (US) among others.Get Free Sample Report @ https://www.marketresearchfuture.com/sample_request/7840Segmental AnalysisThe Global Horticulture Lighting Market has been segmented based on Technology, Lighting Type, Cultivation, Application and Region.Based on lighting type, the market has been classified into top lighting and interlighting.
This lighting pattern can be adjusted as required by the plant..Based on cultivation, the market has been classified into fruits & vegetables and floriculture.
Artificial light is used to improve the yield, quality, and taste of fruits and vegetables.Based on application, the market has been divided into greenhouse, vertical farming, indoor farming, and others.
