Press release
Horticulture Lighting Market Outlook, Business Opportunities With Signify, Hubbell Incorporated, Agrolux, GE, OSRAM, Lumileds, Hortilux Schréder, LumiGrow, Valoya, Bridgelux, Inc, PARsource
Horticulture Lighting Market
By applying best-practice models and research methodologies, complete market analysis is carried out in this Horticulture Lighting report to make sure that the report provides accurate market segmentation and insights for the success of business. The report also provides strategically analyzed market research analysis and observant business insights into the most appropriate markets. Moreover, Horticulture Lighting market research report offers CAGR value fluctuations during the forecast period of 2019-2026 for the market. Data collection modules with large sample sizes have been used in this Horticulture Lighting report to pull together data and perform base year analysis.
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Market Statistics
Global horticulture lighting market is expected to rise from its initial estimated value of USD 2.7 billion in 2018 to an estimated value of USD 11.9 billion by 2026, registering a CAGR of 20.4% in the forecast period of 2019-2026. Growth in horticulture farming and its benefits is expected to drive the market growth as horticulture farming essentially translates to yearlong supply of crops.
Definition
Horticulture lighting can be defined as an artificial light source that is used as a synthetic source of light for the process of synthesis. This process is very useful in areas where there is a lack of proper sunlight. Lack of sunlight or any other source of light required for the process of photosynthesis deems the plants weak and unable to grow. These benefits of growing crops all year round through the process of horticulture lighting are deemed to benefit the horticulture lighting market significantly.
Key Companies
Few of the major competitors currently working in the horticulture lighting market are Signify Holding, Hawthorne Gardening Co., GENERAL ELECTRIC COMPANY, OSRAM GmbH, Agrolux, Heliospectra AB, Hortilux SchrEder B.V., Lumileds Holding B.V., PARsource – Commercial Greenhouse Lighting Solutions, Illumitex, Hubbell, Maxigrow Ltd, Bridgelux Inc., EYE Hortilux, LumiGrow, AXP Technology Inc., Valoya Oy, EconoLux Industries Ltd., Active Grow LLC., ADURA LED Solutions, Arrow Electronics Inc., Emerson Electric Co., ATop Lighting, Barron Lighting Group, and BLV Licht- und Vakuumtechnik GmbH.
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Market Drivers:
· Increasing adoption of indoor and vertical farming is expected to drive the market growth
· Government investments and initiatives to promote horticulture farming is also expected to drive the market growth
Segmentation: Global Horticulture Lighting Market
· By Offering
o Hardware
· Lights
· Modules
· Meters
· Others
o Software & Services
· By Deployment
o Turnkey Solutions
o Retrofit Solutions
· By Technology
o Fluorescent Lamps
· T5
· Compact Fluorescent Lamps (CFL)
o High-Intensity Discharge (HID) Lights
· High-Pressure Sodium Lamp
· Metal-Halide Lamp
o Light-Emitting Diode (LED) Lights
o Other
· By Lighting Type
o Toplighting
o Interlighting
· By Cultivation
o Fruits & Vegetables
o Floriculture
· By Application
o Greenhouses
o Vertical Farming
o Indoor Farming
o Others
· By Geography
o North America
o South America
o Europe
o Asia-Pacific
o Middle East and Africa
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