Horticulture Lighting Market Executive Summary, Segmentation, Review, Trends, Opportunities, Growth, Demand and Forecast to 2027
Overview
Global Horticulture
Lighting Market is
expected to grow at 16.41% CAGR, witnessing substantial growth during the
forecast period. The market was valued at USD 2,928.6 Million in 2019; it is
expected to reach USD 7,878.4 Million by 2026.Market Research Future (MRFR) in
its report envelops segmentations and drivers to provide a better glimpse of
the market in the coming years. There are different types of lighting
applications and characteristics used in horticulture including photoperiodic
lighting, supplemental lighting, sole-source lighting. Lamps in horticulture
lighting operate for 18 to 24 hours continuously. In this rapidly progressing
environment, legalization of Cannabis for medicinal purposes, a steady supply
of crops despite unfavorable weather conditions for farming across geographies
are contributing to the growth of the electronic industry which is driving the
growth in the horticulture lighting market.
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Competitive
Analysis
The Key Players of Global Horticulture
Lighting Market are Signify
(Philips Lighting) (Netherlands), Gavita (Netherlands), GE Lighting (US), Osram
(Germany), Agrolux (Netherlands), Heliospectra (Sweden), Hortilux Schreder
(Netherlands), Lumileds (Netherlands), resource (US), and Illumitex (US) among
others.
- In May 2019, OSRAM Licht AG
launched Fluence, a horticulture LED lighting solution in Europe and the
Middle East and Africa (EMEA) market to help growers to produce
high-quality crops to fulfill the market demand.
- In April 2018, Philips Lighting
launched the new Philips GreenPower LED toplighting with an optimized
light spectrum for cut rose cultivation at an event of the Philips Rose
Expertise Group.
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Segmental
Analysis
The Global
Horticulture Lighting Market has been segmented based on Technology, Lighting
Type, Cultivation, Application and Region.
Based on lighting type,
the market has been classified into top lighting and interlighting. The top
lighting segment accounted for the larger market share in 2018, with the
highest market value. Top lighting is used in horticulture to provide
appropriate light from the top end to the plants. This lighting pattern can be
adjusted as required by the plant. There are two types of top lighting: LED
toplighting and High-Pressure Sodium (HPS) to lighting. Interlighting is the
process of placing light sources close to crops or within a canopy to lighten
up the leaves that would normally receive less natural or supplemental light.
Based on cultivation, the market has been
classified into fruits & vegetables and floriculture. The fruits &
vegetables segment accounted for the larger market share in 2018, with the
highest market value. Fruits and vegetables need more light as compared to
other plants. Artificial light is used to improve the yield, quality, and taste
of fruits and vegetables. Floriculture is a process of cultivation of flowering
and ornamental plants for gardens and in floristry. Floriculture crops include
bedding plants, houseplants, flowering gardens, pot plants, cut cultivated
greens, and cut flowers.
Based on application, the market has been
divided into greenhouse, vertical farming, indoor farming, and others. The
greenhouse segment accounted for the larger market share in 2018, at a steady
CAGR. Greenhouse horticulture is the production of crops using greenhouses,
glasshouses, shade houses, screen houses and crop top structures under modified
growing conditions. Vertical farming is a technique in which plants are grown
in vertically stacked planting beds stored in a controlled and indoor
environment. Indoor farming is the method of growing plants on large scale
indoors. These plants are entirely dependent on artificial lights facilitated
by LEDs and lamps.
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