Horticulture Lighting Market (Global and Regional) shows Unbelievable Growth | Agrolux, Bridgelux, Signify N.V., Heliospectra AB, Hubbell

Horticulture Lighting Market

The global horticulture lighting market is segmented based on the type of light used. The interlighting segment procured a significant share of the market in 2021. This type of lighting is used to enhance the light reception in the canopies of the plants, thereby increasing the yields. LED lights are predominantly used in this segment. The interlighting market is expected to grow due to the growing number of greenhouses dedicated to cucumber and tomato agriculture.

The Key players operating in the Horticulture Lighting market are: Agrolux; Bridgelux, Inc.; Signify N.V.; Heliospectra AB; PARsource; Lumileds Holding B.V.; Hortilux Schrder B.V.; OSRAM Licht AG; General Electric Company; and Hubbell, Inc among others.

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Growth of horticulture lighting market in Asia-Pacific

Growth of the horticulture lighting market in Asia Pacific is expected to be driven by a number of factors. A rising population and a trend toward indoor farming are among these factors. In addition, some developing countries in APAC are moving towards indoor and greenhouse farming methods, which will further drive the growth of the horticulture lighting market in the Asia-Pacific region.

Currently, the APAC horticulture lighting market is dominated by China. However, in the future, the market is projected to be dominated by other APAC countries, especially India and Japan. By 2028, these countries are expected to generate over $1 billion in market value.

The technology that horticulture lighting uses is rapidly evolving. LED lighting manufacturers are focused on improving performance and reducing overall costs for customers. Several of them are leveraging chip and optoelectronic technologies to increase their product's efficiency and lifespan.

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High setup and installation costs

The Horticulture Lighting Market is segmented into two types: hardware and software. Hardware consists of the hardware that is used in plants to create a beautiful environment. Software includes software that allows users to control lighting remotely. Software can be expensive, but it can also save time and money.

The cost of setup and installation in horticulture lighting is high. This may limit its growth in the future. However, many farmers and greenhouse operators are starting to invest in supplemental lighting to increase yields. As we all know, plants need light to function. Whether you are growing vegetables in your greenhouse or growing flowers in your home garden, they need enough light to ensure proper active development and optimal yields.

LED lights are becoming popular in horticulture, as they are highly energy efficient and longer-lasting. Additionally, LEDs emit very little heat, which is good for the environment. Plus, LEDs are very flexible and can be integrated into digitally controlled systems. Despite these shortcomings, LEDs are now becoming the preferred source of light in horticulture.

COVID-19 impacts horticulture lighting market

The COVID-19 directive has significantly impacted horticulture lighting markets, particularly in the United States and Europe. As a result, several leading companies in the horticulture lighting market are making acquisitions and investing in new technologies. Leading companies in this industry include OSRAM, Gavita, and Valoya, among others. Leading players in the industry are also developing novel products to promote their brand image.

Growing demand for LEDs

LEDs are now becoming a popular alternative to HPS lights for indoor crop cultivation. These lights are cost-efficient and offer appropriate intensity for plant growth. Consequently, they lead to higher-quality produce. In terms of application, LEDs are most popular in fruit and vegetable cultivation. According to the U.S. Department of Agriculture, global production of apples, pears, and grapes increased 12.8% in 2019. LEDs are an excellent choice for these crops.

The horticulture lighting market is segmented into two types: New Installations and Retrofit Installations. The new installation segment is expected to account for the largest share of revenue by 2021. This category comprises artificial electric illumination installations such as lighting devices, starting and controlling apparatus, switchboards, and supply mains. Companies operating in the market include Signify, Philips, and California Lightworks.

The global horticulture lighting market is segmented by technology, with LEDs accounting for the largest share. LEDs are becoming more popular in the industry due to their energy-efficient nature, cool operation, and ability to emit the wavelengths that plants require. The technology is also gaining traction in the agriculture industry, as South Korea is using LED technology to grow plants in 35 days.

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The Horticulture Lighting Market report also imparts figures appertaining to CAGRs from a historical and forecast point of view. The Horticulture Lighting Market report offers an executive summary of the market and issues a clear picture of the scope of the market to the report readers analyzes the global and key region's market potential and advantage, opportunity, and challenge, restraints, and risks. It strategically analyzes each submarket with respect to individual growth trend and their contribution to the global Horticulture Lighting market.

FAQs -
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Key Questions Answered In Horticulture Lighting Market Research Report:
1. Which grooming regions will continue to remain the most profitable regional markets for market players?
2. Which circumstance will lead to a change in the demand for Horticulture Lighting during the assessment period?
3. How can market players capture the low-hanging opportunities in the market in developed regions?
4. What are the projections anticipated for the market in terms of capacity, production, and production value?
5. What is market chain analysis by upstream raw materials and downstream industry?

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