Horticulture Lighting Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Horticulture Lighting Market
The Horticulture Lighting market size was valued at USD 5.41 million in 2023, and the market is now projected to grow from USD 6.19 million in 2024 to USD 19.87 million by 2032, exhibiting a CAGR of 18.1% during the forecast period of 2024-2032.
Nationwide, most of the countries' governments have forced lockdowns driven by labor deficiencies, transportation disturbances, and restricted access to the local markets. This figure has essentially affected the generation exercises for collect preparing, dissemination, and development of horticultural lighting market growth in urban regions. The COVID-19 widespread has adversely affected the food supply chain, making adequate opportunity for indoor rural framework around the globe.
The rising requests for developing nutritious and solid nourishment at domestic is expanding quickly around the globe. Indoor cultivating is picking up notoriety within the developing urban ranges to meet the request for nourishment shortage. Consumers around the globe are prioritizing the development of the cultivation division to meet the nourishment shortage request and advance green trades universally.
Rising quick urbanization brings the opportunity for green generation to meet the nourishment request, which is anticipated to fortify advertise development. Moreover, the rural professionals and ranchers are embracing horticulture cultivating owing to the need of accessibility of water system water for ranches and expanded nourishment costs. Encourage, the supply of agricultural items to urban ranges is expanding owing to rising customer request for characteristic and sound nourishments. Expanding appropriation and advancement of ecologically inviting and energy-efficient LEDs in cultivation to maximize edit abdicate and diminish vitality utilization drives advertise development.
Comprehensive Analysis of Horticulture Lighting Market
Interlighting and toplighting are the two fragments categorized on the segmentation of type. Attributed to the rising and demand over the globe, the toplighting dominates the market.The lighting technology is bifurcated as LED, fluorescent, metal halide, high pressure sodium (HPS) and other technologies such as (plasma, xenon and induction lighting). LED to dominate with the factor of low energy consumption. On the bifurcation of application, the categorizations are vertical, indoor, greenhouse and floriculture. The greenhouse with rising application to lead the application segment.
Europe accounting for the biggest horticulture lighting market share with a valuation of USD 1.89 billion amidst the figure period, is with the presence of driving lighting producers such as Osram Licht AG, Gavita, Valoya, and others. In expansion, Nations such as Spain, the Netherlands, France, and Italy have huge nursery development zones. These nations utilize Driven develop lights for supplemental development of plants for indoor cultivating.
The worldwide horticulture lighting market is solidified with driving players such as Signify Holding (Philips Lighting) (The Netherlands), Bridgelux Inc. (U.S.), Maxigrow Ltd (U.K.), Lumileds (U.S.), EYE Hortilux (U.S.) (U.S.), Hubbell Lighting (U.S.), GE Lighting (U.S.), Hortilux Schreder (Netherlands), Osram Licht AG (Germany), and others. These significant players are contributing and designing progressed lighting by embracing corporate techniques such as associations, mergers, acquisitions, and collaborations.
In December 2021, the company Signify entered a conclusive understanding to procure ams OSRAM Texas-based Fluence for USD 272 million. This procurement has reinforced the worldwide rural lighting's development stage and amplified its position in North America's green lighting showcase.
Segmentation Table
ATTRIBUTE
DETAILS
Study Period
2018-2029
Base Year
2021
Estimated Year
2022
Forecast Period
2022-2029
Historical Period
2018-2020
Unit
Value (USD billion)
Segmentation
By Type, By Lighting Technology, By Application, and By Region
By Type
Toplighting
Interlighting
By Lighting Technology
Fluorescent
High-Pressure Sodium (HPS)
Metal Halide
LED
Others (Plasma, Xenon, and Induction Lighting)
By Application
Indoor Farming
Greenhouse
Vertical Farming
Others (Vegetables and Fruits, Floriculture)
By Region
North America (By Type, By Lighting Technology, By Application, and By Country)
- U.S. (By Application)
- Canada (By Application)
- Mexico (By Application)
- Brazil (By Application)
- Argentina (By Application)
- Rest of South America
- U.K. (By Application)
- Germany (By Application)
- France (By Application)
- Italy (By Application)
- Spain (By Application)
- Russia (By Application)
- Benelux (By Application)
- Nordics (By Application)
- Rest of Europe
- Turkey (By Application)
- Israel (By Application)
- GCC (By Application)
- South Africa (By Application)
- North Africa (By Application)
- Rest of the Middle East & Africa
- China (By Application)
- Japan (By Application)
- India (By Application)
- South Korea (By Application)
- ASEAN (By Application)
- Oceania (By Application)
- Rest of Asia Pacific
- 1. Introduction
- 1.1. Definition, By Segment
- 1.2. Research Methodology/Approach
- 1.3. Data Sources
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Drivers, Restraints, Opportunities and Trends
- 3.2. Impact of COVID-19
- 3.2.1. Short-term Impact
- 3.2.2. Long-term Impact
- 4. Competition Landscape
- 4.1. Business Strategies Adopted by Key Players
- 4.2. Consolidated SWOT Analysis of Key Players
- 4.3. Global Horticulture Lighting Key Players Market Share Insights and Analysis, 2021
- 5. Global Horticulture Lighting Market Size Estimates and Forecasts, By Segments, 2018-2029
- 5.1. Key Findings
- 5.2. By Type (USD)
- 5.2.1. Toplighting
- 5.2.2. Interlighting
- 5.3. By Lighting Technology (USD)
- 5.3.1. Fluorescent
- 5.3.2. High-Pressure Sodium (HPS)
- 5.3.3. Metal Halide
- 5.3.4. LED
- 5.3.5. Others
- 5.4. By Application (USD)
- 5.4.1. Indoor farming
- 5.4.2. Greenhouse
- 5.4.3. Vertical farming
- 5.4.4. Others (Floriculture)
- 5.5. By Region (USD)
- 5.5.1. North America
- 5.5.2. South America
- 5.5.3. Europe
- 5.5.4. Middle East & Africa
- 5.5.5. Asia Pacific
- 6. North America Horticulture Lighting Market Size Estimates and Forecasts, By Segments, 2018-2029
- 6.1. Key Findings
- 6.2. By Type (USD)
- 6.2.1. Toplighting
- 6.2.2. Interlighting
- 6.3. By Lighting Technology (USD)
- 6.3.1. Fluorescent
- 6.3.2. High-Pressure Sodium (HPS)
- 6.3.3. Metal Halide
- 6.3.4. LED
- 6.3.5. Others
- 6.4. By Application (USD)
- 6.4.1. Indoor farming
- 6.4.2. Greenhouse
- 6.4.3. Vertical farming
- 6.4.4. Others (Floriculture)
- 6.5. By Country (USD)
- 6.5.1. United States
- 6.5.1.1. By Application
- 6.5.2. Canada
- 6.5.2.1. By Application
- 6.5.3. Mexico
- 6.5.3.1. By Application
- 7. Europe Horticulture Lighting Market Size Estimates and Forecasts, By Segments, 2018-2029
- 7.1. Key Findings
- 7.2. By Type (USD)
- 7.2.1. Toplighting
- 7.2.2. Interlighting
- 7.3. By Lighting Technology (USD)
- 7.3.1. Fluorescent
- 7.3.2. High-Pressure Sodium (HPS)
- 7.3.3. Metal Halide
- 7.3.4. LED
- 7.3.5. Others
- 7.4. By Application (USD)
- 7.4.1. Indoor farming
- 7.4.2. Greenhouse
- 7.4.3. Vertical farming
- 7.4.4. Others (Floriculture)
- 7.5. By Country (USD)
- 7.5.1. United Kingdom
- 7.5.1.1. By Application
- 7.5.2. Germany
- 7.5.2.1. By Application
- 7.5.3. France
- 7.5.3.1. By Application
- 7.5.4. Italy
- 7.5.4.1. By Application
- 7.5.5. Spain
- 7.5.5.1. By Application
- 7.5.6. Russia
- 7.5.6.1. By Application
- 7.5.7. Benelux
- 7.5.7.1. By Application
- 7.5.8. Nordics
- 7.5.8.1. By Application
- 7.5.9. Rest of Europe
- 8. Asia Pacific Horticulture Lighting Market Size Estimates and Forecasts, By Segments, 2018-2029
- 8.1. Key Findings
- 8.2. By Type (USD)
- 8.2.1. Toplighting
- 8.2.2. Interlighting
- 8.3. By Lighting Technology (USD)
- 8.3.1. Fluorescent
- 8.3.2. High-Pressure Sodium (HPS)
- 8.3.3. Metal Halide
- 8.3.4. LED
- 8.3.5. Others
- 8.4. By Application (USD)
- 8.4.1. Indoor farming
- 8.4.2. Greenhouse
- 8.4.3. Vertical farming
- 8.4.4. Others (Floriculture)
- 8.5. By Country (USD)
- 8.5.1. China
- 8.5.1.1. By Application
- 8.5.2. India
- 8.5.2.1. By Application
- 8.5.3. Japan
- 8.5.3.1. By Application
- 8.5.4. South Korea
- 8.5.4.1. By Application
- 8.5.5. ASEAN
- 8.5.5.1. By Application
- 8.5.6. Oceania
- 8.5.6.1. By Application
- 8.5.7. Rest of Asia Pacific
- 9. Middle East & Africa Horticulture Lighting Market Size Estimates and Forecasts, By Segments, 2018-2029
- 9.1. Key Findings
- 9.2. By Type (USD)
- 9.2.1. Toplighting
- 9.2.2. Interlighting
- 9.3. By Lighting Technology (USD)
- 9.3.1. Fluorescent
- 9.3.2. High-Pressure Sodium (HPS)
- 9.3.3. Metal Halide
- 9.3.4. LED
- 9.3.5. Others
- 9.4. By Application (USD)
- 9.4.1. Indoor farming
- 9.4.2. Greenhouse
- 9.4.3. Vertical farming
- 9.4.4. Others (Floriculture)
- 9.5. By Country (USD)
- 9.5.1. Turkey
- 9.5.1.1. By Application
- 9.5.2. Israel
- 9.5.2.1. By Application
- 9.5.3. GCC
- 9.5.3.1. By Application
- 9.5.4. North Africa
- 9.5.4.1. By Application
- 9.5.5. South Africa
- 9.5.5.1. By Application
- 9.5.6. Rest of MEA
- 10. South America Horticulture Lighting Market Size Estimates and Forecasts, By Segments, 2018-2029
- 10.1. Key Findings
- 10.2. By Type (USD)
- 10.2.1. Toplighting
- 10.2.2. Interlighting
- 10.3. By Lighting Technology (USD)
- 10.3.1. Fluorescent
- 10.3.2. High-Pressure Sodium (HPS)
- 10.3.3. Metal Halide
- 10.3.4. LED
- 10.3.5. Others
- 10.4. By Application (USD)
- 10.4.1. Indoor farming
- 10.4.2. Greenhouse
- 10.4.3. Vertical farming
- 10.4.4. Others (Floriculture)
- 10.5. By Country (USD)
- 10.5.1. Brazil
- 10.5.1.1. By Application
- 10.5.2. Argentina
- 10.5.2.1. By Application
- 10.5.3. Rest of South America
- 11. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases)
- 11.1. Bridgelux Inc.
- 11.1.1. Overview
- 11.1.2. Offerings/Business Segments
- 11.1.3. Employee Size
- 11.1.4. Key Financials
- 11.1.5. Recent Developments
- 11.2. LumiGrow Inc.
- 11.2.1. Overview
- 11.2.2. Offerings/Business Segments
- 11.2.3. Employee Size
- 11.2.4. Key Financials
- 11.2.5. Recent Developments
- 11.3. Maxigrow Ltd
- 11.3.1. Overview
- 11.3.2. Offerings/Business Segments
- 11.3.3. Employee Size
- 11.3.4. Key Financials
- 11.3.5. Recent Developments
- 11.4. Signify Holding
- 11.4.1. Overview
- 11.4.2. Offerings/Business Segments
- 11.4.3. Employee Size
- 11.4.4. Key Financials
- 11.4.5. Recent Developments
- 11.5. GE Lighting
- 11.5.1. Overview
- 11.5.2. Offerings/Business Segments
- 11.5.3. Employee Size
- 11.5.4. Key Financials
- 11.5.5. Recent Developments
- 11.6. Hortilux Schreder
- 11.6.1. Overview
- 11.6.2. Offerings/Business Segments
- 11.6.3. Employee Size
- 11.6.4. Key Financials
- 11.6.5. Recent Developments
- 11.7. Osram Licht AG
- 11.7.1. Overview
- 11.7.2. Offerings/Business Segments
- 11.7.3. Employee Size
- 11.7.4. Key Financials
- 11.7.5. Recent Developments
- 11.8. Gavita International BV
- 11.8.1. Overview
- 11.8.2. Offerings/Business Segments
- 11.8.3. Employee Size
- 11.8.4. Key Financials
- 11.8.5. Recent Developments
- 11.9. Lumileds
- 11.9.1. Overview
- 11.9.2. Offerings/Business Segments
- 11.9.3. Employee Size
- 11.9.4. Key Financials
- 11.9.5. Recent Developments
- 11.10. Hubbell Lighting
- 11.10.1. Overview
- 11.10.2. Offerings/Business Segments
- 11.10.3. Employee Size
- 11.10.4. Key Financials
- 11.10.5. Recent Developments
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