Horticulture Lighting Market – Scope, Complete Overview, Drivers and Restraints Study Up to 2030

Introduction:

Horticulture lighting is a system specially designed for providing spectrum and intensity of light to ensure efffective growth of plants such as crops, fruits, vegetables and flowers. It allows the cultivation of plants without any daylight by provision of artificial light for photosynthesis . It stimulates the growth of plants by tuning the light according to the requirement of LED lighting that boosts the crop yield throughout the year. Horticulture lighting systems are useful in urban farming, multi-layer cultivation, indoor farming, vertical farming, greenhouses, cultivation without daylight, supplemental lighting etc.

The market is gaining taction due to wide appplications of horticulture lighting like low energy cost, low power consumption, better quality, enhanced production and efficiency of crops etc. Investment in this market is rising due to high demands for horticulture lighting systems in agricultural operations. Further the rising awareness regarding sustainability and government efforts to improve horticulture is encouraging the global investors to invest in this market.

The horticulture lighting market is expected to grow at a high CAGR rate through 2030. At present, it is witnessing significant growth across the globe and is predicted to further expand formidably providing immense opportunities to the leading players in this market.

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Key Drivers:

Government initiatives towards the adoption of advanced and automated technologies in farming practices is stimulating the global demand for horticulture lighting systems. Horticulture lighting improves the crop yield, efficiency and growth and helps in providing better quality yield even in unfavourable climatic conditions by providing an artificial climate according to the need of different crops.
Rapid growth of population in many developing economies is creating strong demands for food supply. Horticulture lighting helps in meeting the global food demands by increasing production of crops resulting in surging the market progress.

Horticulture Lighting Market

Awareness regarding sustainability and fastest supply of crops among the manufacturers is accelerating high demands for horticulture lighting systems as it helps in producing fastest and superior varieties of crops, flowers, fruits as well as vegetables despite unsupportive weather conditions.

Rising demands from vertical and indoor farming for the cultivation of crops under LED light with no pesticides is expected to bring lucrative progress in horticulture lighting market.

Key Restraints:

The one time installation cost of LED light technologies is high which may not be affordable by small-scale manufacturers and farmers.

In horticulture lighting systems, there is restriction of cultivating limited amount of crop species which can hamper the market progress poising a challenge to the key players in this market.

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COVID-19 Impact:

Covid-19 pandemic has created a slighter impact on this market. The pandemic impacted the operations of several horticulture lighting manufacturers and vendors by disrupting the production units, supply chains, distribution, warehousing and transportation facilities. The impact was not much as before the pandemic the market for horticulture lighting had witnessed oversupply in its sales. In the earlier phase of corona virus disease, the manufacturers faced decline in their production, distribution and profits due to lockdown imposed by the government.

The manufacturers are now recovering their losses by undertaking various strategies to cope with the ongoing crisis. The adoption of new and improved strategies and methods has created an opportunistic environment for the manufacturers as the sales of horticulture lighting is increasing. The market is predicted to experience considerable growth in the pandemic and drive more opportunities for social distance controlling infrared sensors, germicidal UVC LEDs etc.

Region-Wise Forecast:

It is anticipated that Europe will continue to experience the fastest growing CAGR rate along with considerable progress in this market through 2030 owing to growing usage of horticulture lighting in green-houses, urban cultivation, indoor farming and vertical farming. Awareness regarding sustainable developments followed by government efforts to adopt this system in cultivating plants is boosting the growth opportunities in Germany. Europe is estimated to occupy one third of market share in horticulture lighting market. Rising adoption of automation in agricultural practices is surging the demand for horticulture lighting systems in Italy and France creating immense opportunities for market progress. Some other factors that attributes to the growing demands in Europe includes rising population, urbanisation and investments in horticulture lighting. The growing population in Europe is creating a force to import fruits and vegetables in frozen form from Africa and Asia leading to more need for horticulture lighting systems.

In addition to Europe, China is expected to see considerable market progress on account of increasing population and urbanisation.The rising population demands more food supply to feed the population leading to growing demands for horticulture lighting systems to stimulate fastest crop growth and increased yield. On the other side, the increasing emission of green-house gases in India is having adverse impact on the climatic conditions which in turn influences agricultural yield. Horticulture lighting systems provides an artificial environment to the plants enabling them to grow faster to meet the needs. It is forecasted that Asia Pacific will grab the second position in this market through 2030.

Furthermore, the growing adoption of automated farming methods like indoor and vertical farming in United States and Mexico is estimated to provide potential opportunities to the market players in North America to attain high growth rate in this market. Due to awareness programs and other initiatives held by the government to promote investment in horticulture lighting systems, the market is witnessing immense progress in U.S.. North America is forecasted to register high CAGR rate through the predicted time.

Latin America is projected to flourish with reasonable progress in the market on account of rising adoption of LED lights, increasing demands for food, rising population and concern regarding steady supply of crops despite unfavourable weather.

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