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At 18.3% CAGR Horticulture Lighting Market Burst to overtake $9.50 Bn by 2026| Top Players: Gavita Holland B.V., GE Lighting, Heliospectra, PARsource, Fluence Bioengineering, Hortilux Schreder B.V, Lumileds, Illumitex, Hubbell

03-28-2019 03:52 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Market Prognosis

the Global Horticulture Lighting Market is accounted for $2.08 billion in 2017 and is expected to reach $9.50 billion by 2026 growing at a CAGR of 18.3% during the forecast period. Increasing awareness about vertical & indoor farming, fast population growth and stable supply of crops despite adverse weather conditions are some factors impacting the market growth. However, factors such as possibility of cultivating limited number of crop species and lack of awareness are hindering the market growth.

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Horticulture lighting market is a comparatively new concept. It is used to support, increase and enable the growth of plants by illuminating them with artificial light. LED Light is a very efficient way and upcoming solution for this application. Horticulture lighting, by tuning the light according to the essential need and by utilizing the exclusive properties of LED lighting, assists in boosting yields and maintaining plant health. In addition, it is to supplement natural daylight and raise grow light levels in order to enhance photosynthesis and thereby improve growth and quality of plants in greenhouses.

By Technology, light-emitting diode (LED) segment accounted for significant market share due to energy efficiency and added benefits such as compact size, long operational life of 30,000 to 50,000 hours and low heat. Based on geography, North America is expected to dominate the market during the estimated period owing to high awareness and demand for horticulture lighting systems, in the region.

Some of the key players in Horticulture Lighting market include Gavita Holland B.V., GE Lighting, Heliospectra, PARsource, Fluence Bioengineering, Hortilux Schreder B.V, Lumileds, Illumitex, Hubbell, AXP Technology, LumiGrow and OSRAM.

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Market Segments:
Lighting Types Covered:
• Interlighting
• Toplighting

Offerings Covered:
• Software and Services
• Hardware

Cultivations Covered:
• Floriculture
• Specialty
• Cannabis
• Propagation
• Fruits and Vegetables
• Other Cultivations

Deployments Covered:
• Retrofit Solutions
• Turnkey Solutions

Technologies Covered:
• Light-emitting diode (LED)
• High-Intensity Discharge (Hid)
• Fluorescent
• Other Technologies

Applications Covered:
• Indoor Farming
• Vertical Farming
• Greenhouses
• Other Applications

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About Us
We at Market Prognosis believe in giving a crystal clear view of market dynamics for achieving success in today’s complex and competitive marketplace through our quantitative & qualitative research methods.
We help our clients identify the best market insights and analysis required for their business thus enabling them to take strategic and intelligent decision.
We believe in delivering actionable insights for your business growth and success.

Contact
ProgMark Pvt Ltd,
Thane - 421501
India. Contact- +1 973 241 5193
Email- sales@marketprognosis.com

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