Global Horticulture Lighting Market 2023-2030

Description

List of Tables

Global Horticulture Lighting Market Size, Share & Trends Analysis Report by Lighting Type (Top Lighting, Supplemental Lighting, Inter Lighting, Photoperiodic Lighting, and Sole-Source Lighting), by Technology (High-Intensity Discharge (HID), Light Emitting Diode (LED), and Fluorescent), and by Applications (Greenhouses, Vertical Farms, and Indoor Farms), Forecast Period (2023-2030)

The global horticulture lighting market is anticipated to grow at a CAGR of 9.1% during the forecast period (2023-2030). Innovative use of LED lighting enhances nutritious plant growth and can also help lower a farmer's lighting system costs, increasing profitability in many ways. The growing adoption of horticulture lighting with the improving healthier plant growth is the key factor supporting the growth of the market globally. Market players providing enhanced greenhouse and vertical farming lighting for professional horticulture applications, these products set a new standard with their broader spectrum of light for faster and healthier plant growth, improved farming environments, and reduced lighting system costs. The market players are also focusing on introducing horticulture lighting solutions that further bolster the market growth. For instance, in January 2023, Polymatech Electronics, the first semiconductor chip manufacturer specializing in Opto-semiconductors, launched its new horticulture LED products Ravaye full-spectrum packages and modules, as well as monochromatic LEDs.

Segmental Outlook

The global horticulture lighting market is segmented on lighting type, technology, and applications. Based on the lighting type, the market is sub-segmented into top lighting, supplemental lighting, inter lighting, photoperiodic lighting and sole-source lighting. Based on the technology, the market is sub-segmented into high-intensity discharge (HID), light-emitting diode (LED) and fluorescent. Further, on the basis of applications, the market is sub-segmented into greenhouses, vertical farms and indoor farms. Among the technology, the high-intensity discharge (HID) sub-segment is anticipated to hold a considerable share of the market owing to the rise in development of cultivate plants that require higher light intensities than fluorescent lighting, such as cereal, forage, citrus and C4 plants. HID lamps are used in controlled environments like laboratories or indoor farms.

The Greenhouses Sub-Segment is Anticipated to Hold a Considerable Share of the Global Horticulture Lighting Market

Among the applications, the greenhouses sub-segment is expected to hold a considerable share of the global horticulture lighting market. The segmental growth is attributed to the growing influence of lighting solution to offer growers even more flexibility when designing a lighting strategy that maximizes the productivity of every harvest. Various combinations are designed to allow the plant to make more effective use of the available light energy to drive plant growth and fruit development, without increasing overall energy usage and associated operational costs. For instance, in March 2022, GE Current, a Daintree company added a new category to its broad Arize® range of horticultural LED solutions, with the launch of the Arize® Integral intra-canopy lighting (ICL) fixture. The lighting output of up to 346 µmol/s and efficiency of 3.5 µmol/J, the Integral is designed to help growers maximize yields of high-wire crops such as tomatoes, cucumber and peppers through more strategic deployment of light, deep within the plant canopy.

Regional Outlook

The global horticulture lighting market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America). Among these, North America is anticipated to hold a prominent share of the market across the globe, owing to the rising adoption of horticulture lighting to manifest the growing demand for food with developing advanced technology-based sorters.

The Asia-Pacific Region is Expected to Grow at a Significant CAGR in the Global Horticulture Lighting Market

Among all regions, the Asia-Pacific regions is anticipated to grow at a considerable CAGR over the forecast period. Regional growth is attributed to rising cultivation of food grains, fruits & vegetables is enhances the demand for horticulture lights. Increasing urbanization and food costs are likely to facilitate horticulture lighting demand. Furthermore, the increasing supply of horticulture products in urban areas increases the adoption of horticulture light.

According to the Ministry of Agriculture & Farmers Welfare, in July 2022, Horticulture Production in 2021-22 estimated 341.63 Million Ton with increase of about 7.03 Million Ton

Through advanced spectral tuning, modern LED-based horticulture lighting systems can boost crop yield, improve plant health and reduce energy usage when compared to using standard LEDs. For instance, in November 2022, Cree LED, an SGH company launched Photophyll™ Select LEDs, an advanced horticulture spectrum available now on the XLamp® XP-G3 LEDs and J Series® 2835 3V G Class LEDs. Photophyll Select LEDs are the industry's first LEDs entirely characterized in horticulture metrics, allowing luminaire manufacturers to control the blue/green/red spectral ratios of their products for the unique needs of each plant type.

Market Players Outlook

The major companies serving the horticulture lighting market include ACUITY BRANDS, INC., ams-OSRAM AG, General Electric Company, Hubbell Lighting, Signify Holding, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in July 2021, Fluence, a provider of energy-efficient LED lighting solutions for commercial cannabis and food production, partnered with GrowGeneration Corp. the nation's chain of specialty hydroponic and organic garden centers, as GrowGen's premier LED horticulture lighting provider.

The Report Covers:

Market value data analysis of 2022 and forecast to 2030.
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global horticulture lighting market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying 'who-stands-where' in the market.

Product Code: OMR2028037

1. Report Summary

Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
- 1.2.1. By Segments
- 1.2.2. By Region

2. Market Overview and Insights

2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
- 2.2.1. Key Findings
- 2.2.2. Recommendations
- 2.2.3. Conclusion

3. Competitive Landscape

3.1. Key Company Analysis
3.2. ACUITY BRANDS, INC.
- 3.2.1. Overview
- 3.2.2. Financial Analysis
- 3.2.3. SWOT Analysis
- 3.2.4. Recent Developments
3.3. ams-OSRAM AG
- 3.3.1. Overview
- 3.3.2. Financial Analysis
- 3.3.3. SWOT Analysis
- 3.3.4. Recent Developments
3.4. General Electric Company
- 3.4.1. Overview
- 3.4.2. Financial Analysis
- 3.4.3. SWOT Analysis
- 3.4.4. Recent Developments
3.5. Key Strategy Analysis

4. Market Segmentation

4.1. Global Horticulture Lighting Market by Lighting Type
- 4.1.1. Top Lighting
- 4.1.2. Supplemental Lighting
- 4.1.3. Inter Lighting
- 4.1.4. Photoperiodic Lighting
- 4.1.5. Sole-Source Lighting
4.2. Global Horticulture Lighting Market by Technology
- 4.2.1. High-Intensity Discharge (HID)
- 4.2.2. Light Emitting Diode (LED)
- 4.2.3. Fluorescent
4.3. Global Horticulture Lighting Market by Application
- 4.3.1. Greenhouses
- 4.3.2. Vertical Farms
- 4.3.3. Indoor Farms

5. Regional Analysis

5.1. North America
- 5.1.1. United States
- 5.1.2. Canada
5.2. Europe
- 5.2.1. UK
- 5.2.2. Germany
- 5.2.3. Italy
- 5.2.4. Spain
- 5.2.5. France
- 5.2.6. Rest of Europe
5.3. Asia-Pacific
- 5.3.1. China
- 5.3.2. India
- 5.3.3. Japan
- 5.3.4. South Korea
- 5.3.5. Rest of Asia-Pacific
5.4. Rest of the World

6. Company Profiles

6.1. A Feilo Sylvania Company
6.2. ALTO INDIA
6.3. Cree LED
6.4. EVERLIGHT ELECTRONICS CO., LTD.
6.5. Gallina LED Ltd.
6.6. Horticulture Lighting Group
6.7. Hubbell Lighting
6.8. INDO Lighting Ltd.
6.9. LEDiL
6.10. Lumileds Holding B.V.
6.11. Nexsel Tech
6.12. Samsung
6.13. Signify Holding
6.14. SST, Inc.
6.15. Stouch Lighting
6.16. TCP Lighting
6.17. TE Connectivity