Richmond, Dec. 11, 2023 (GLOBE NEWSWIRE) -- According to a research report "Horticulture Lighting Market”, By Lighting Type (Toplighting, Interlighting), Offering (Hardware, Software, Services), Technology (Fluorescent, High-intensity Discharge (HID), Light-emitting Diode (LED), Others), Cultivation Type (Fruits & Vegetables, Floriculture, Cannabis), Application (Greenhouses, Vertical Farms, Indoor Farms, Others) and Region - Global Forecast to 2030.
Global Horticulture Lighting Market Report Scope:
| Report | Details |
| Market size value in 2023 | USD 4.26 Billion |
| Market size value in 2030 | USD 13.85 Billion |
| CAGR (2023-2030) | 18.34% |
| Forecast Period | 2023–2030 |
| Historic Data | 2019 |
| Forecast Units | Value (USD Million/USD Billion) |
| Segments Covered | Lighting Type, Offering, Technology, Cultivation Type, Application and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and RoW |
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| Sample of Companies Covered |
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TOC Covers in Depth & Breath on Horticulture Lighting Market
175 - Market Data Tables
68 - List of Figures
230 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
Market Overview
The horticulture lighting market is witnessing significant growth and transformation as it becomes increasingly integral to modern agricultural practices. With a surge in demand for year-round and controlled environment cultivation, horticulture lighting systems have emerged as crucial tools in optimizing plant growth, crop yield, and quality. Technological advancements, particularly in LED technology, have revolutionized the market by offering energy-efficient solutions and customizable light spectra tailored to different crops. The market is also driven by the growing popularity of urban farming, where horticulture lighting enables efficient cultivation in limited spaces. As sustainable and precision agriculture practices gain prominence, the horticulture lighting market is poised for continued expansion, serving as a key enabler for enhancing agricultural productivity, mitigating environmental impact, and meeting the demands of a rapidly evolving global food landscape.
Major Vendors in the Global Horticulture Lighting Market:
- Signify Holding (Phillips Lighting)
- Gavita International B.V.
- Heliospectra
- ams-OSRAM International GmbH
- California LightWorks
- Valoya
- Hortilux Schréder
- ILUMINAR Lighting
- Current Lighting Solutions, LLC.
- GE Lighting (SAVANT TECHNOLOGIES LLC.)
- ACUITY BRANDS, INC
- Lumileds Holding B.V.
- Cree LED, an SGH company
- TCP Lighting
- PARsource
- EconoLux Industries Ltd.
- Oreon
- GlacialLight - Division of GlacialTech Inc.
- Black Dog Horticulture Technologies & Consulting
- ViparSpectra
- Active Grow
- Agnetix
- Thrive Agritech
- Bridgelux, Inc.
- Kroptek
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Growing popularity of urban farming
The growing popularity of urban farming serves as a significant driver for the horticulture lighting market. As urbanization intensifies and available arable land diminishes, urban farming has emerged as a viable solution to meet the rising demand for fresh, locally sourced produce. In densely populated urban areas, horticulture lighting plays a pivotal role in enabling year-round cultivation and maximizing crop yields in limited spaces. By facilitating vertical farming and rooftop gardens, horticulture lighting allows urban farmers to optimize space utilization and overcome the constraints of natural sunlight. This trend is further accelerated by the increasing emphasis on sustainable and locally sourced food production. As urban farming continues to gain traction as an integral component of the broader agricultural landscape, the horticulture lighting market is propelled by the essential role it plays in supporting efficient and productive urban cultivation.
Market Dynamics
Drivers:
- Rising demand for fresh produce.
- Increasing LED Technology Advancements
Opportunities:
- Developing Smart Horticulture Systems
- Government support for horticulture lighting initiatives.
Increasing adoption of controlled environment agriculture (CEA)
The increasing adoption of Controlled Environment Agriculture (CEA) stands as a prominent trend in the horticulture lighting market. CEA involves the use of advanced technologies to create optimal growing conditions, including precise control over temperature, humidity, and light. In this context, horticulture lighting plays a crucial role by providing the specific light spectra needed for plant growth. The trend towards CEA is driven by the desire for year-round crop production, improved resource efficiency, and higher yields. Horticulture lighting systems are integral to CEA setups, enabling growers to extend growing seasons, enhance crop quality, and achieve better consistency in yields. As the agriculture industry continues to embrace sustainable and efficient practices, the horticulture lighting market is witnessing increased demand due to its vital role in supporting the evolution of controlled environment agriculture.
Europe Dominates The Horticulture Lighting Market.
Europe has established a noteworthy presence in the horticulture lighting market, experiencing ongoing growth as various European nations actively promote plant factories and provide subsidies to stimulate local demand. The European Union's initiatives to endorse the adoption of LED technology are anticipated to generate additional opportunities for LED lighting providers in the horticulture sector. The mass production of LEDs in numerous markets, coupled with heightened competition among manufacturers, is fostering innovation, expanding product options, and driving down prices. The horticulture LED lighting sector in Europe is rapidly expanding, with local innovations reshaping the future of agriculture by enhancing the farm-to-fork experience.
Farmers are utilizing LED lighting innovations to craft precise climate conditions, resulting in the production of fresher and more nutritious fruits and vegetables for consumers. In this dynamic landscape, LED lighting providers in the region are actively diversifying their horticultural product offerings and strengthening collaborations with various partners. Notably, in March 2022, GE Current expanded its Arize range with the introduction of the Arize Integral intra-canopy lighting (ICL) fixture, designed to optimize yields of high-wire crops such as tomatoes, cucumber, and peppers through strategic light deployment deep within the plant canopy, boasting a best-in-class lighting output of up to 346 µmol/s and an efficiency of 3.5 µmol/J.
LED Segments is anticipated to hold the Largest Market Share during the Forecast Period
Based on technology segment the technology is categorized into fluorescent, high-intensity discharge (hid), light-emitting diode (led), others. The LED technology has major share in the horticulture lightning market. The horticultural sector is increasingly embracing LED technology, propelled in part by NASA's ongoing plant-growth experiments conducted under LED lighting. LED lights have garnered favor due to their low energy consumption, enhanced operational efficiency, and the ability to tailor spectral output to emit specific wavelengths essential for plant growth. Moreover, LEDs prove more cost-effective compared to other artificial light sources, exhibiting minimal lumen depreciation over time and ensuring a significantly extended operational life of over 50,000 hours, depending on the application. This extended lifespan contributes to heightened reliability. Another advantage lies in the efficient light emission of LEDs, generating less heat compared to alternative lighting fixtures. In indoor farming, where excess heat is typically considered wasteful and necessitates energy-intensive removal measures like air conditioning or fans, LEDs offer a solution by minimizing heat production in the first place, thereby reducing associated energy consumption.
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