Horticulture Lighting - Global Market Outlook (2017-2026)
According to Stratistics MRC, the Global Horticulture Lighting Market is accounted for $2.08 billion in 2017 and is expected to reach $9.50 billion by 2026 growing at a CAGR of 18.4% during the forecast period. Increasing awareness about vertical & indoor farming, fast population growth and stable supply of crops despite adverse weather conditions are some factors impacting the market growth. However, factors such as possibility of cultivating limited number of crop species and lack of awareness are hindering the market growth.
Horticulture lighting market is a comparatively new concept. It is used to support, increase and enable the growth of plants by illuminating them with artificial light. LED Light is a very efficient way and upcoming solution for this application. Horticulture lighting, by tuning the light according to the essential need and by utilizing the exclusive properties of LED lighting, assists in boosting yields and maintaining plant health. In addition, it is to supplement natural daylight and raise grow light levels in order to enhance photosynthesis and thereby improve growth and quality of plants in greenhouses.
By Technology, light-emitting diode (LED) segment accounted for significant market share due to energy efficiency and added benefits such as compact size, long operational life of 30,000 to 50,000 hours and low heat. Based on geography, North America is expected to dominate the market during the estimated period owing to high awareness and demand for horticulture lighting systems, in the region.
Some of the key players in Horticulture Lighting market include Gavita Holland B.V., GE Lighting, Heliospectra, PARsource, Fluence Bioengineering, Hortilux Schreder B.V, Lumileds, Illumitex, Hubbell, AXP Technology, LumiGrow and OSRAM and Signify.
Lighting Types Covered:
• Software and Services
• Fruits and Vegetables
• Other Cultivations
• Retrofit Solutions
• Turnkey Solutions
• High-Intensity Discharge (Hid)
• Other Technologies
• Indoor Farming
• Vertical Farming
• Other Applications
- North America
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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- Market share assessments for the regional and country level segments
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- Supply chain trends mapping the latest technological advancements
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