Global Horticulture Lighting Market, By Offering (Hardware, Software & Services), By Deployment (Turnkey, Retrofit), By Technology (Fluorescent Lamps, HID Lights, LED Lights, Other), By Lighting Type (Toplighting, Interlighting), By Cultivation (Fruits & Vegetables, Floriculture), By Application (Greenhouses, Vertical Farming, Indoor Farming, Others), By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)– Industry Trends and Forecast to 2026
Market Analysis: Global Horticulture Lighting Market
The Global Horticulture Lighting Market is expected to rise from its initial estimated value of USD 2.7 billion in 2018 to an estimated value of USD 11.9 billion by 2026, registering a CAGR of 20.4% in the forecast period of 2019-2026. Growth in horticulture farming and its benefits is expected to drive the market growth as horticulture farming essentially translates to yearlong supply of crops.
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Market Definition: Global Horticulture Lighting Market
Horticulture lighting can be defined as an artificial light source that is used as a synthetic source of light for the process of synthesis. This process is very useful in areas where there is a lack of proper sunlight. Lack of sunlight or any other source of light required for the process of photosynthesis deems the plants weak and unable to grow. These benefits of growing crops all year round through the process of horticulture lighting are deemed to benefit the horticulture lighting market significantly.
- Increasing adoption of indoor and vertical farming is expected to drive the market growth
- Government investments and initiatives to promote horticulture farming is also expected to drive the market growth
- Lack of knowledge and type of lighting to be used for certain crops is expected to restrain the market growth
- High costs of technology is also expected to act as a restraint to the market growth
Segmentation: Global Horticulture Lighting Market
- By Offering
- Software & Services
- By Deployment
- Turnkey Solutions
- Retrofit Solutions
- By Technology
- Fluorescent Lamps
- Compact Fluorescent Lamps (CFL)
- High-Intensity Discharge (HID) Lights
- High-Pressure Sodium Lamp
- Metal-Halide Lamp
- Light-Emitting Diode (LED) Lights
- Fluorescent Lamps
- By Lighting Type
- By Cultivation
- Fruits & Vegetables
- By Application
- Vertical Farming
- Indoor Farming
Competitive Analysis: Global Horticulture Lighting Market
The global horticulture lighting market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of horticulture lighting market for global, Europe, North America, Asia Pacific and South America.
Major Market Competitors/Players: Global Horticulture Lighting Market
Few of the major competitors currently working in the horticulture lighting market are Signify Holding, Hawthorne Gardening Co., GENERAL ELECTRIC COMPANY, OSRAM GmbH, Agrolux, Heliospectra AB, Hortilux SchrEder B.V., Lumileds Holding B.V., PARsource – Commercial Greenhouse Lighting Solutions, Illumitex, Hubbell, Maxigrow Ltd, Bridgelux Inc., EYE Hortilux, LumiGrow, AXP Technology Inc., Valoya Oy, EconoLux Industries Ltd., Active Grow LLC., ADURA LED Solutions, Arrow Electronics Inc., Emerson Electric Co., ATop Lighting, Barron Lighting Group, and BLV Licht- und Vakuumtechnik GmbH.
Research Methodology: Global Horticulture Lighting Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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