Horticulture Lighting Market Demand, Recent Trends, Analysis, Forecasts Research, Top Manufacturers and Outlook 2028

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Rising demand for more energy-efficient LEDs in horticulture sector to maximize crop yield and reduce energy consumption

VANCOUVER, BC, CANADA, March 21, 2022 /EINPresswire.com/ -- The study is a professional probe into the revenue generated and capacity estimates for the Horticulture Lighting market for the forecast period 2021 – 2028 empower the business owners to maintain a competitive edge over their rivals. The research further examines and provides data on the market by type, application and geography interspersed with illustrations and other graphical representations. The market analysis not only determines the attractiveness of the industry but also the evolving challenges and opportunities and their association with the weaknesses and strengths of prominent market leaders. Other factors taken into consideration when studying the industry include profitability, manufacturing capability, distribution channels and industry cost structure and major success factors. 

 Steady market revenue growth can be attributed to rising demand for environmentally friendly and energy-efficient Light-Emitting Diode (LED) systems in horticulture to maximize crop yield and reduce energy consumption. Development of new and more advanced technologies related with smart agriculture is expected to drive growth of the global horticulture lighting market going ahead. Increasing concerns regarding global food security owing rapidly increasing global population and limited availability of arable land are factors expected to open up more lucrative opportunities for players operating in the greenhouse and indoor farming space, and drive demand for horticulture lighting in greenhouses and indoor farms over the forecast period.

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Additionally, the report also gives an insight into product portfolios, costs, sales, production capacities, and market players. Raw materials, demand analysis, product flow, and distribution channels have been studied and surveyed extensively in this research report. The key growth trends and opportunities are offered through a thorough investigation and examination of the market. A detailed course of development is offered in the report along with insights into businesses connected with it, which include firms, industries, organizations, vendors, and local manufacturers.

Prominent Players Analyzed in the Report:

Signify, Gavita International B.V., Heliospectra, Osram Licht AG, California Lightworks, Valoya, LumiGrow, Hortilux Schréder, EYE HORTILUX, and ILUMINAR Lighting.

The report offers a comprehensive breakdown of the regional analysis of the market and subsequent country-wise analysis. The regional analysis of the market comprises of production volume information, consumption volume and patterns, revenue, and growth rate for the forecast period of 2021-2028. According to the regional analysis, the market is primarily spread over key geographical regions as follows:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Key Highlights From The Report

In August 2020, Signify entered into a cooperative agreement with Yunnan AiBiDa Greenhouse Technology Co., LTD. in order to become a research partner utilizing Philips GreenPower LED products as a supplementary lighting for its greenhouse floriculture production. The agreement is expected to help Signify in improving crop growth efficiency and quality in western China.

Interlighting segment accounted for largest revenue share in 2020. LED interlighting system enables plant growth and harvest irrespective of location, which is driving deployment.

LED segment revenue is expected to expand at a rapid CAGR during the forecast period. Increasing initiatives by government to encourage adoption of energy-efficient LEDs in horticulture to reduce energy consumption is expected to boost demand for LEDs going ahead and drive market growth.

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The study segments the complete Horticulture Lighting market on the basis of different application, end-use, end-user, and production capability. From a business standpoint, the industry has been thoroughly examined across various countries located in North America, Europe, Asia-Pacific, and others. The size of the industry for the forecast period 2021 – 2028 is evaluated on the basis of current sales figures and past financial report can be used to forecast the future sales.

Emergen Research has segmented the global horticulture lighting market on the basis of lighting type, lighting technology, application, and region:

Lighting Type Outlook (Revenue, USD Billion; 2018–2028)
Interlighting

Toplighting

Lighting Technology Outlook (Revenue, USD Billion; 2018–2028)
Light-Emitting Diode (LED)

High-Intensity Discharge (HID)

Others      

Application Outlook (Revenue, USD Billion; 2018–2028)
Indoor Farms

Vertical Farms

Greenhouses

Others

Overview of the Horticulture Lighting Market Report:

Introduction, Product Scope, Market Overview, and Opportunities

Analysis of the Manufacturers with sales, revenue, and price analysis

Comprehensive analysis of the competitive landscape

Extensive profiling of the key competitors along with their business strategies and market size

Regional analysis of the market along with sales, revenue, market share, and global position

Country-wise analysis of the market along with types, applications, and manufacturing

Strategic recommendations to established players as well as new entrants

In-depth analysis of the risks, restraints, and limitations in the Horticulture Lighting industry

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The report covers key points of the market, including the standards, regulations, and policy changes applied by the government on the industry for the coming years. The report encompasses thorough research carried out by the application of advanced analytical tools such as SWOT analysis and Porter’s Five Forces analysis to pinpoint the growth trends and patterns. Factors likely to influence the growth of the market, current trends, opportunities, restraining factors, and business landscape are discussed in-depth in the market study.

The research provides answers to the following key questions:

What will be the size and the growth rate of the Horticulture Lighting market for the forecast period 2021 – 2028?

What are key drivers believed to shape the future of the market during the estimated period?

What are the prominent industry players dominating the Horticulture Lighting market during the forecast period?

What are the major trends influencing the development of the industry?

What are the key challenges likely to hinder the progress of the market?

What are major opportunities and threats encountered by the business owners operating in the business vertical?

Thank you for reading our report. Please connect with us to know more about the report or the customization of the report. Our team will ensure the report is best suited to meet your requirements.

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