Horticulture Lighting Market Size, Growth Trends, Top Players, Potential Applications and Forecast 2021-2028
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Rising demand for more energy-efficient LEDs in horticulture sector to maximize crop yield and reduce energy consumption are some key factors driving market
VANCOUVER, BC, CANADA, August 29, 2022 /EINPresswire.com/ -- According to Emergen Market, the Horticulture Lighting Market is expected to showcase remarkable growth during the forecast period. The report includes a detailed study of the Horticulture Lighting market size, market trends, prime market players, sales analysis, major driving factors, and prime investment pockets. The global Horticulture Lighting Market report covers an overview of the market and outlines market definition and scope. The ongoing technological developments and surge in demand have an influential effect on the market growth. Furthermore, the report provides a quantitative and qualitative analysis of the Horticulture Lighting Market, outlines the pain point analysis, value chain analysis, and key regulations.
The global horticulture lighting market size is expected to reach USD 11.27 Billion in 2028 and register a steady revenue CAGR over the forecast period, according to latest analysis by Emergen Research. 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.
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The reports cover key developments in the Horticulture Lighting market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, partnerships and collaborations. These activities have paved way for expansion of business and customer base of market players. The market payers from Horticulture Lighting market are anticipated to lucrative growth opportunities in the future with the rising demand for Horticulture Lighting in the global market. The market is expected to grow at a significant CAGR during the forecast period.
Horticulture Lighting Market: Analysis by focusing on Competitive landscape and Key Developments
Signify, Gavita International B.V., Heliospectra, Osram Licht AG, California Lightworks, Valoya, LumiGrow, Hortilux Schréder, EYE HORTILUX, and ILUMINAR Lighting.
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key findings from the report suggest
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.
Indoor farms segment accounted for a significantly high revenue share in the horticulture lighting market in 2020. Farmers are increasingly adopting indoor farming practices due to need to ensure better food security and to cater to rising demand for immediate access to fresh produce.
The report further divides the Horticulture Lighting market into key segments such as types, applications, end-user industries, technologies, and key regions of the market. The report also sheds light on the segment and region exhibiting promising growth in the Horticulture Lighting market.
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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
A thorough analysis of every segment helps to make strategic decisions and make profitable investments in the future. Furthermore, it helps market players to gain a competitive edge. The Horticulture Lighting Market analysis of segment and sub-segment is offered in graphical and tabular formats. This study is vital to understanding the highest revenue-generating and fasting-growing segments of the market. The global Horticulture Lighting Market report offers a thorough study of the major market players that are currently dominating the industry. The report includes the production, sales, and revenue analysis of these companies. These companies have adopted various business strategies such as new product launches, mergers & acquisitions, partnerships, and collaborations to maintain market position.
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How will this Report Benefit you?
A 250-page report from Emergen Research includes 194 tables and 189 charts and graphics. Anyone in need of commercial, in-depth assessments for the global Horticulture Lighting market, as well as comprehensive market segment analysis, can benefit from our new study. You can assess the whole regional and global market for Horticulture Lighting with the aid of our recent study. To increase market share, obtain financial analysis of the whole market and its various segments. We think there are significant prospects in this industry for rapidly expanding energy storage technology. Look at how you may utilise the current and potential revenue-generating prospects in this sector. The research will also assist you in making better strategic decisions, enabling you to build growth strategies, strengthen competitor analysis, and increase business productivity.
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The global horticulture lighting market size is expected to reach USD 11.27 Billion in 2028
