openPR Logo
Press release

How is Surging Population Driving Horticulture Lighting Market?

06-30-2020 12:00 PM CET | Energy & Environment

Press release from: P&S Intelligence

How is Surging Population Driving Horticulture Lighting

The global horticulture lighting market is expected to generate a revenue of $20.3 billion by 2030, increasing from $3.2 billion in 2019, and is predicted to advance at an 18.1% CAGR during the forecast period (2020–2030). The market is majorly being driven by surging requirement for agricultural products, increasing government support for energy-efficient lights, and decriminalization of the utilization of marijuana for medical purposes in a number of countries. On the basis of type, the market is bifurcated into interlighting and top lighting.

Browse full report: https://www.psmarketresearch.com/market-analysis/horticulture-lighting-market

Between these two, top lighting accounted for the larger share of the horticulture lighting market, in terms of value, during the historical period (2014–2019). This type of horticulture lighting is preferred highly for indoor and vertical farming illumination purposes across the globe. The interlighting bifurcation is predicted to grow at a faster pace during the forecast period in the horticulture lighting market. This is because of the growing adoption of light-emitting diodes (LED) in the agricultural industry, as they offer proper growth environment for plants and does not damage them. Moreover, these lighting solutions distribute illumination to all parts of the crop and not just its top part.

When geographical scenario is taken into consideration, the horticulture lighting market is projected to be dominated by the European region during the forecast period. This is primarily because of the fact that the region’s flower, vegetable, and fruit production and exports are the highest. The fastest growth in the horticulture lighting market during the forecast period is predicted to be registered by the Asia-Pacific region, which can majorly be attributed to the surging population and rapidly increasing disposable income of people.

Make enquiry before purchase:https://www.psmarketresearch.com/send-enquiry?enquiry-url=horticulture-lighting-market

In fact, the swiftly increasing population across the globe is major driving factor of the horticulture lighting market. According to the latest United Nations estimates, the worldwide population is predicted to grow from 7.7 billion in 2019 to 8.5 billion in 2030. Owing to this robust growth in population, particularly in countries including the U.S., India, Brazil, and China, the demand for food products will rise as well. Attributed to this, several countries are focusing increasingly on indoor and greenhouse farming techniques for raising their agricultural yield.

P&S Intelligence

International: +1-347-960-6455

Email: enquiry@psmarketresearch.com

Web: https://www.psmarketresearch.com

About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release How is Surging Population Driving Horticulture Lighting Market? here

News-ID: 2082122 • Views: 214

More Releases from P&S Intelligence

Automotive Lithium-Ion Battery Market Outlook and Forecast 2020 due to COVID-19 …
In 2018, the global automotive lithium-ion battery market reached a value of $24.2 billion and is predicted to attain $74.3 billion in 2024, advancing at a 15.9% CAGR during the forecast period (2019–2024). The market is growing due to the falling cost of battery and its components and rising electric vehicle production and demand. A rechargeable battery which comprises a positive and negative electrode that are contacted by a chemical called
Seed Treatment Market is expected to grow in coming years post COVID-19 Outbreak
The agriculture industry is of great importance, and there is a pressing need for increasing productivity and efficiency in agricultural fields for catering to the need of the swiftly growing population across the globe. Governments across the globe are focusing on creating awareness among farmers, by launching several initiatives, about advanced technologies, including crop protection materials. These materials aids in keeping insects and pests away, in turn, enhancing crop yield.
What are Key Factors Driving Progress of U.S. Medical Peer/External Physician Re …
The increasing incidence of medical malpractices and negli-gence in the U.S. over the last few years has led to the crea-tion of strict guidelines for medical review process in the coun-try. Moreover, there has been a huge rise in the number of healthcare centres and physicians in the country having limited expertise in conducting reviews, in the past years. Due to these factors, the requirement of medical peer/external physi-cian review
E-Bike and Scooter Demand and Trend in North American Region - Business Revenue …
The North America electric scooters and motorcycles market attained a size of $154.8 million in 2018, and it is predicted to progress at a CAGR of 28.4% during the forecast period (2019–2024). The factors driving the growth of the market are government incentives and federal tax credits, low maintenance cost of such vehicles, and emergence of sharing services. Further, the amount of investments being made in e-two-wheeler manufacturing companies is

All 5 Releases


More Releases for CAGR

Wireless Charging Industry Climbing Towards CAGR 45.5%
According to a recent report published by Allied Market Research, titled, Global Wireless Charging Market by Technology and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2018-2025, The global wireless charging market was valued at $5,220.0 million in 2017, and is projected to reach $71,213.0 million by 2025, registering a CAGR of 38.7% from 2018 to 2025. At present, Asia-Pacific dominates the market, followed by North America. In 2017, the U.S.
Xanthates Market CAGR to Grow at 4.7%
Persistence Market Research in its latest report projects that the global xanthates market will grow at a CAGR of 6.1% over the forecast period (2017-2025). Owing to Xanthates’ excellent mineral ore processing capabilities, its global sales have witnessed a significant rise in recent years. Mining complexity and declining ore quality have led to a major increase in demand for specialty chemicals to process ores. Towards the end of 2025, around
Global Serious Games Market Show 19.2% CAGR
A new report added by Allied Market Research, forecast that the global serious games market was valued at $2,731 million in 2016, and is projected to reach $9,167 million by 2023, growing at a CAGR of 19.2% from 2017 to 2023. The consumers segment is anticipated to grow at the highest rate during the forecast period. Asia-Pacific generated the highest revenue in the global serious games market in 2016 due to
Biogas Market CAGR to Grow at 6.5%
Global demand for biogas has witnessed a spike in demand, owing to mounting concerns over depleting fossil reserves and environmental impact of conventional fuels. According to Future Market Insights, global biogas market revenues totalled nearly US$ 24.5 Bn in 2015. During the forecast period 2016-2026, global biogas revenues are estimated to reach US$ 48, 761.2 million, growing at a steady 6.5% CAGR. Between 2016 and 2026, the global biogas revenues
Bioinsecticides market expecting CAGR 5.4%
Reports And Markets Publish a New Market Research Report On –"Bioinsecticides market- Growth, Trends, Forecast for the period (2017 - 2022)" Access Full Report With Table Of Contents @ https://www.reportsandmarkets.com/reports/1071910-global-bioinsecticides-market-growth-trends-forecast-for-the-period-2017-2022 Pesticides constitute the largest category within the market for crop protection chemicals, with biopesticides accounting for a comparatively minute share. Global consumption of synthetic insecticides is projected to reach 833.32 thousand tons by volume and USD 19.6 billion by value by 2020
Biofertilizers Market witnessing a CAGR of 13.3%
Reports And Markets Publish a New Market Research Report On –"Biofertilizers Market - By Microorganism, Application and Geography - Trends and Forecasts (2016 -2021)" Access Full Report With Table Of Contents @ https://www.reportsandmarkets.com/reports/1071907-global-biofertilizers-market-by-microorganism-application-forecasts-2016-2021 Market Insights The global biofertilizers market, estimated at USD 590.9 million in 2015, is projected to reach USD 1.23 billion by 2021, witnessing a CAGR of 13.3% during the forecast period. The biofertilizers market is highly fragmented, with many small