Horticulture Lighting Market by Consumption Volume, Rising Trends and Growth Forecast to 2027

The Horticulture Lighting Market report offers an in-depth assessment of market dynamics, the competitive landscape, segments, and regions in order to help readers to become familiar with the Horticulture Lighting market. It particularly sheds light on market fluctuations, pricing structure, uncertainties, potential risks, and growth prospects to help players to plan effective strategies for gaining successful in the Horticulture Lighting market. Importantly, it allows players to gain deep insights into the business development and market growth of leading companies operating in the Horticulture Lighting market.

The Horticulture Lighting market is expected to record a CAGR of 20.61% over the forecast period (2021 - 2026).

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Top Leading Companies of Horticulture Lighting Market are - Royal Philips Electronics BV, Heliospectra AB, OSRAM GmbH, Illumitex Inc., LumiGrow Inc., Everlight Electronics Co. Ltd, Gavita International BV, Epistar Corp., Grow LED Hydro, LEDiL Oy, Samsung Electronics Co. Ltd, Hubbell Inc., Cree Inc., Signify Holding (Koninklijke Philips NV), Lumileds Holding BV and others.

Industry News and Updates:

- July 2020 - The European Commission has approved the acquisition of Osram by Austrian optical sensor maker AMS, ruling that the combination of the two companies poses no competitive threat in the European Economic Area.

- September 2020 - Fluence Bioengineering, an Osram business unit referred to as Fluence by Osram, has announced a new solid-state lighting (SSL) distribution partnership with Israel-base Remy 108 Ltd, primarily focused on the burgeoning legalized can-nabis market in Israel.

Key Market Trends:

LEDs are Expected to Hold a Significant Share

- The LED technology is gaining popularity in the horticultural sector, mainly due to NASA, which continues to conduct plant-growth experiments under LED lighting. It shows immense potential as horticultural lighting fixtures because of low energy consumption, cool operation and the capability to customize the spectral output to emit the specific wavelengths usable by plants.
- These lights are also more cost-efficient than other artificial light sources. LEDs do not burn out like traditional light bulbs but experience minimum lumen depreciation over time. Though light bulbs are liable to fail on average after one year, LEDs can be operated for more than 50,000 hours (depending on the type of application). The increased lifetime ensures high reliability.

Europe is Expected to Hold the Largest Share

- Europe accounted for a significant share in the horticulture lighting market and continues to grow with other European countries promoting plant factory and providing subsidies to spur the local demands. The European Union's initiatives to encourage the adoption of LED technology are expected to create more opportunities for the providers of LED lights for the horticulture sector.
- Increasing awareness of benefits and rising demand for food owing to the rising population is expected to drive the adoption of vertical farms in the region. Researchers in the Netherlands are calculating the viability of vertical farming in urban areas. For instance, Staay Food Group built a vertical farm in the country that is using Philips GreenPower LED horticultural lighting.

Investigator Observers Strong Growth in Specific Regions:

- Europe Market (Germany, UK, France, Russia, Italy)

- Center East and Africa Market (Saudi Arabia, UAE, Egypt, Nigeria, South Africa)

- South America Market (Brazil, Argentina, Colombia)

- North America Market (United States, Canada, Mexico)

- Asia Pacific Market (China, Japan, Korea, India, Southeast Asia).

The Latest Industry Data Included in this Report:
- Horticulture Lighting Market Size & Analysis (2016 - 2026)
- Market Share Analysis of Horticulture Lighting Market (%),2016 - 2026
- Horticulture Lighting Market Share, By Brand
- Horticulture Lighting Market Share, By Company
- Horticulture Lighting Market Assessment & Opportunity (Value),2016 - 2026
- Major Companies Horticulture Lighting Market Value Analysis & Forecast
- Promising Horticulture Lighting Development by Major Companies
- Detailed Horticulture Lighting Portfolio of the Major Companies
- Major Deals in the Horticulture Lighting Market
- Major Companies Analysis

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