Global Horticulture Lighting Market is valued approximately USD 6.19 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 18.1% over the forecast period 2023-2030. Horticulture Lighting is the use of artificial light sources, such as LEDs, to provide specific wavelengths and intensities of light for promoting plant growth, development, and productivity in controlled environments like greenhouses or indoor farms. It allows growers to optimize plant photosynthesis and manipulate various physiological processes for better crop quality and yield.
The Horticulture Lighting market is set to experience substantial growth driven by the rising demand for advanced lighting technologies. These lights are increasingly being utilized for the cultivation of fruits, vegetables, and flowers, thereby fueling market expansion. Furthermore, the growing adoption of Horticulture Lighting systems in vertical farming applications is prompting manufacturers to establish efficient operations, contributing to the overall market growth.
Moreover, the vertical farming is a farming technique that involves growing crops in vertically stacked layers or structures, typically indoors or in controlled environments. This approach utilizes artificial lighting, such as horticulture lighting, to provide the necessary light spectrum and intensity for plant growth. The growing popularity of vertical farming is indeed supporting the growth of the horticulture lighting market. According to Statista, in 2022, the global vertical farming was valued USD 5.6 billion and it is anticipated to reach USD 23.7 billion by 2030. As a result, the growing vertical farming is anticipated to create the lucrative demand for the market. Additionally, incorporation of advanced technologies in horticulture and increase in awareness regarding vertical and indoor farming is anticipated to provide lucrative opportunities for the growth of the Horticulture Lighting market. However, the high cost of Horticulture Lighting stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Horticulture Lighting Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the rising initial adoption of advanced process analytics technology throughout enterprises. Key businesses in nations such as the United States and Canada are providing solutions for rapid and effective operations based on fundamental technologies such as the cloud. North America is expected to grow significantly during the forecast period, owing to growing demand for analytic solutions and services in the healthcare and manufacturing industries. Furthermore, due to the presence of major companies in countries such as Germany, the United Kingdom, France, and others, the area is one of the leading contributors of process analytics revenue.
Major market player included in this report are:
- Maxigrow Ltd.
- Eye Hortilux
- Lumileds Holding B.V
- Hortilux Schreder B.V
- Heliospectra AB (publ)
- Agrolux B.V.
- Hubbell Incorporated
- Illumitex, Inc
- GE Lighting
- Gavita Holland B.V
Recent Developments in the Market:
- In March 2022, Acuity Brands unveiled Verjure, a professional-grade horticulture LED lighting solution tailored for indoor horticulture applications. The Verjure Pro Series LED luminaires, developed based on plant-focused research, offer consistent and productive performance throughout all plant growth stages, from vegetative to flowering. The series comes in three sizes and outputs, providing versatility for various growing environments such as indoor warehouses, greenhouses, and vertical racks. With an IP66 rating for waterproofing and robust 6kV surge protection, the Verjure Pro Series LED luminaires ensure durability and reliability.
Global Horticulture Lighting Market Report Scope:
- Historical Data: 2020 - 2021
- Base Year for Estimatio: 2022
- Forecast period: 2023-2030
- Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered: Type, Technology, Application, Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
- Top lighting
- Interlighting
By Technology:
- Fluorescent
- High-Pressure Sodium
- Metal Halide
- LED
- Others
By Application:
- Indoor Farming
- Greenhouse
- Vertical Farming
- Others
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1. Horticulture Lighting Market, by Region, 2020-2030 (USD Billion)
- 1.2.2. Horticulture Lighting Market, by Type, 2020-2030 (USD Billion)
- 1.2.3. Horticulture Lighting Market, by Technology, 2020-2030 (USD Billion)
- 1.2.4. Horticulture Lighting Market, by Application, 2020-2030 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Horticulture Lighting Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Industry Evolution
- 2.2.2. Scope of the Study
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Horticulture Lighting Market Dynamics
- 3.1. Horticulture Lighting Market Impact Analysis (2020-2030)
- 3.1.1. Market Drivers
- 3.1.1.1. Increasing LED market
- 3.1.1.2. Growing advanced lighting technologies
- 3.1.2. Market Challenges
- 3.1.2.1. High Cost of Horticulture lighting
- 3.1.2.2. Lack of awareness
- 3.1.3. Market Opportunities
- 3.1.3.1. Advancements in Technology
- 3.1.3.2. Awareness regarding vertical and indoor farming
Chapter 4. Global Horticulture Lighting Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Porter's 5 Force Impact Analysis
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. COVID-19 Impact Analysis
- 4.7. Disruptive Trends
- 4.8. Industry Expert Perspective
- 4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Horticulture Lighting Market, by Type
- 5.1. Market Snapshot
- 5.2. Global Horticulture Lighting Market by Type, Performance - Potential Analysis
- 5.3. Global Horticulture Lighting Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
- 5.4. Horticulture Lighting Market, Sub Segment Analysis
- 5.4.1. Top lighting
- 5.4.2. Interlighting
Chapter 6. Global Horticulture Lighting Market, by Technology
- 6.1. Market Snapshot
- 6.2. Global Horticulture Lighting Market by Technology, Performance - Potential Analysis
- 6.3. Global Horticulture Lighting Market Estimates & Forecasts by Technology 2020-2030 (USD Billion)
- 6.4. Horticulture Lighting Market, Sub Segment Analysis
- 6.4.1. Fluorescent
- 6.4.2. High-Pressure Sodium
- 6.4.3. Metal Halide
- 6.4.4. LED
- 6.4.5. Others
Chapter 7. Global Horticulture Lighting Market, by Application
- 7.1. Market Snapshot
- 7.2. Global Horticulture Lighting Market by Application, Performance - Potential Analysis
- 7.3. Global Horticulture Lighting Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
- 7.4. Horticulture Lighting Market, Sub Segment Analysis
- 7.4.1. Indoor Farming
- 7.4.2. Greenhouse
- 7.4.3. Vertical Farming
- 7.4.4. Others
Chapter 8. Global Horticulture Lighting Market, Regional Analysis
- 8.1. Top Leading Countries
- 8.2. Top Emerging Countries
- 8.3. Horticulture Lighting Market, Regional Market Snapshot
- 8.4. North America Horticulture Lighting Market
- 8.4.1. U.S. Horticulture Lighting Market
- 8.4.1.1. Type breakdown estimates & forecasts, 2020-2030
- 8.4.1.2. Technology breakdown estimates & forecasts, 2020-2030
- 8.4.1.3. Application breakdown estimates & forecasts, 2020-2030
- 8.4.2. Canada Horticulture Lighting Market
- 8.5. Europe Horticulture Lighting Market Snapshot
- 8.5.1. U.K. Horticulture Lighting Market
- 8.5.2. Germany Horticulture Lighting Market
- 8.5.3. France Horticulture Lighting Market
- 8.5.4. Spain Horticulture Lighting Market
- 8.5.5. Italy Horticulture Lighting Market
- 8.5.6. Rest of Europe Horticulture Lighting Market
- 8.6. Asia-Pacific Horticulture Lighting Market Snapshot
- 8.6.1. China Horticulture Lighting Market
- 8.6.2. India Horticulture Lighting Market
- 8.6.3. Japan Horticulture Lighting Market
- 8.6.4. Australia Horticulture Lighting Market
- 8.6.5. South Korea Horticulture Lighting Market
- 8.6.6. Rest of Asia Pacific Horticulture Lighting Market
- 8.7. Latin America Horticulture Lighting Market Snapshot
- 8.7.1. Brazil Horticulture Lighting Market
- 8.7.2. Mexico Horticulture Lighting Market
- 8.8. Middle East & Africa Horticulture Lighting Market
- 8.8.1. Saudi Arabia Horticulture Lighting Market
- 8.8.2. South Africa Horticulture Lighting Market
- 8.8.3. Rest of Middle East & Africa Horticulture Lighting Market
Chapter 9. Competitive Intelligence
- 9.1. Key Company SWOT Analysis
- 9.1.1. Company 1
- 9.1.2. Company 2
- 9.1.3. Company 3
- 9.2. Top Market Strategies
- 9.3. Company Profiles
- 9.3.1. Maxigrow Ltd.
- 9.3.1.1. Key Information
- 9.3.1.2. Overview
- 9.3.1.3. Financial (Subject to Data Availability)
- 9.3.1.4. Product Summary
- 9.3.1.5. Recent Developments
- 9.3.2. Eye Hortilux
- 9.3.3. Lumileds Holding B.V
- 9.3.4. Hortilux Schreder B.V
- 9.3.5. Heliospectra AB (publ)
- 9.3.6. Agrolux B.V.
- 9.3.7. Hubbell Incorporated
- 9.3.8. Illumitex Inc
- 9.3.9. GE Lighting
- 9.3.10. Gavita Holland B.V
Chapter 10. Research Process
- 10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
- 10.2. Research Attributes
- 10.3. Research Assumption