Market Overview: Global Horticulture Lighting Market
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Horticulture Lighting Market Insights 2024-30
The Global Horticulture Lighting Market size is valued at around USD 6.78 Billion in 2023 and is projected to grow at a CAGR of around 16.22% during the forecast period, i.e., 2024-30.
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Top Players in the Horticulture Lighting Market:
- Bridgelux Inc.
- EYE Hortilux
- Maxigrow Ltd
- Hortilux Schreder
- Osram Licht AG
- Gavita International BV
- Lumileds
- Agrolux
- PARsource
- Heliospectra
- Signify
- Valoya
- California Lightworks
- LumiGrow
- EYE Hortilux
- Others
Segmentation Analysis of Horticulture Lighting Market
Horticulture Lighting Market exactly assesses and highlights significant trends and influencing factors within each segment. The comprehensive analysis extends its predictions for the period spanning 2024-30, focusing on the national landscape. The market is exactly categorized based on this analysis, providing valuable insights into its various facets.
-Lighting Type
- Top lighting
- Inter lighting
- Supplemental Lighting
- Sole-Source Lighting
- Photoperiodic Lighting
Here, Inter lighting segment acquires the major revenue share in the market during the forecast period. Such dominance can be credited to its consummate ability to proportionally distribute the lights in the canopy that otherwise tends to receive lesser lights in lower and middle levels. With relatively improved light efficacy, the Inter lighting led to higher yields as compared to other variants. Besides, the sudden rise in the number of greenhouses for cucumber and tomato agriculture further acts as a catalyst to the market.
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-By Application
- Indoor Farming
- Greenhouse
- Vertical Farming
-By Technology
- High-Intensity Discharge (HID)
- Fluorescent
-By Offering
- Hardware
- Software
- Services
-By Cultivation
- Vegetable
- Fruits
- Floriculture
- Others (Medicinal plants, Aromatic, etc.)
A Comprehensive Geographical Analysis:
-By Region
- North America
- South America
- Europe
- The Middle East Africa
- Asia-Pacific
Europe demonstrates a significant shareholding and thereby dominates the Global Horticulture Lighting Market in the historical period. Such dominance can be attributed to numerous factors. One would be the availability of relatively larger areas for cultivation. In addition, being the home to one of the strongest economies enables the region to attract substantial investment from neighborhoods and poses higher capital investment capabilities.
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