The global horticulture lighting market was valued at USD 2.15 billion in 2018; it is expected to reach USD 6.41 billion by the end of the forecast period growing at a CAGR of 20.44%.

pune, India - June 7, 2019 /MarketersMedia/ —

Horticulture Lighting Market Highlights

Horticulture Lighting Market Due to a number of benefits of LEDs in horticulture such as low cost and high efficiency, the demand for these products has grown tremendously across regions. Furthermore, climatic variations and growing indoor farming activities have contributed to the demand for horticulture lighting. The high demand for horticulture lighting has prompted the DesignLights Consortium, a voluntary certification initiative for LED technology to develop a new set of testing and reporting requirements for horticultural lighting.

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Horticulture Lighting Market Key players

The key players profiled in the horticulture lighting market are – Signify (Philips Lighting) (Netherlands), Gavita (Netherlands), GE Lighting (US), Osram (Germany), and Agrolux (Netherlands), Heliospectra (Sweden), Hortilux Schreder (Netherlands), Lumileds (Netherlands), PARsource (US), Illumitex (US). These players contribute a major share to the growth of the horticulture lighting market. The other prominent companies in the horticulture lighting market include Hubbell (US), Maxigrow (UK), Bridgelux (US), Eye Hortilux (US), Lumigrow (US) among others.

Horticulture Lighting Market Segmentation

By technology, the horticulture lighting market has been segmented into fluorescent lamps, high-intensity discharge (HID) lights, led lights, and others. The fluorescent lamp segment has been further divided into T5 and CFL. The HID segment has been further divided into high-pressure sodium lamps and metal-halide lamps. The HID lights segment generated the largest revenue share in 2018 while the LED lights segment is expected to grow at remarkable CAGR during the forecast period. The various benefits and government initiatives have led to the high demand for LED lights by farmers.

By lighting type, the horticulture lighting market has been segmented into toplighting and interlighting. The toplighting segment was the dominating segment under horticulture lighting type whereas the interlighting segment is expected to grow at a higher CAGR during the forecast period. By cultivation, the market has been segmented into fruits and vegetables, and floriculture. The fruits and vegetable segment dominated the horticulture lighting market while the floriculture segment is expected to grow at a higher CAGR during the forecast period.

By application, the horticulture lighting market has been segmented into greenhouse, vertical farming, indoor farming, and others. The greenhouse segment contributed the largest share to the market in 2018; it is expected to continue its dominance throughout the forecast period. Plants growing in greenhouses are protected from external elements such as harsh sunlight and ensure better growth and yield. Greenhouses also provide protection against insects and pests which further make it a good option for the growers. Vertical farming is expected to grow at a significant CAGR during the forecast period.

Horticulture Lighting Market Regional Analysis

The global market for horticulture lighting is estimated to grow at a significant rate during the forecast period from 2019 to 2024. The geographical analysis of the horticulture lighting market has been done for North America, Europe, Asia-Pacific, and the rest of the world.

Europe dominated the market in 2018; it is expected to remain dominant in the horticulture lighting market throughout the forecast period. Indoor growers extensively implement LED lights due to benefits such as low cost, low heat generation, and high efficiency. Additionally, the presence of prominent lighting companies in this region such as Osram (Germany), Signify (Netherlands), Lumileds (Netherlands) Gavita (Netherlands), Agrolux (Netherlands), and Hortilux Schreder (Netherlands) is expected to contribute to the high market share for horticulture lighting. Asia-Pacific is expected to grow at the highest CAGR during the forecast period.

TABLE OF CONTENTS

1 Executive Summary

2 Scope of The Report

2.1 Market Definition

2.2 Scope of The Study

2.3 Research Objectives

2.4 Markets Structure

3 Market Research Methodology

3.1 Research Process

3.2 Secondary Research

3.3 Primary Research

3.4 Forecast Model

Continued…

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LIST OF TABLES

Table 1 Global Horticulture Lighting Market, By Region, 2019–2024

Table 2 North America: Horticulture Lighting Market, By Country, 2019–2024

Table 3 Europe: Horticulture Lighting Market, By Country, 2019–2024

Table 4 Asia-Pacific: Horticulture Lighting Market, By Country, 2019–2024

Table 5 Middle East & Africa: Horticulture Lighting Market, By Country, 2019–2024

Continued…

LIST OF FIGURES

FIGURE 1 Global Horticulture Lighting Market Segmentation

FIGURE 2 Forecast Methodology

FIGURE 3 Porter’s Five Forces Analysis of Global Horticulture Lighting Market

FIGURE 4 Value Chain of Global Horticulture Lighting Market

FIGURE 5 Share of The Global Horticulture Lighting Market In 2018, By Country (In %)

Continued…

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