Press release
Global Agriculture Lighting Market Set to Flourish, projected to Reach US$ 5.4 Billion by 2031, TMR New Study
The Agriculture Lighting Market has witnessed remarkable growth in recent years, driven by the burgeoning popularity of indoor farming, greenhouse cultivation, and the expansion of the poultry industry. According to analysts' projections, the market is poised to reach a value of US$ 5.4 billion by 2031, reflecting a robust CAGR of 16.8% from 2023 to 2031. This article delves into the various facets of the agriculture lighting market, including its size, growth drivers, segmentation, challenges, and regional outlook.Get Sample Copy of This Report at: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=85742&utm_source=Opener&utm_campaign=Amit
Market Drivers:
The rise in popularity of indoor farming and greenhouse cultivation has been a primary driver of market growth. These controlled environments allow for year-round crop production, driving the demand for agriculture lighting systems. Additionally, the expansion of the poultry sector has spurred the adoption of lighting solutions to enhance productivity and welfare.
Latest Market Trends:
One of the notable trends in the agriculture lighting market is the extensive use of LEDs due to their energy efficiency and customizable light spectra. Manufacturers are also focusing on developing hybrid lighting systems to optimize energy usage in greenhouses. Furthermore, there is a growing emphasis on sustainable agriculture practices, driving the demand for environmentally friendly lighting solutions.
Future Outlook and Opportunities:
The future outlook for the agriculture lighting market appears promising, with continued advancements in technology and increasing awareness about the benefits of controlled environment agriculture. Key opportunities lie in expanding market penetration in emerging economies and leveraging technological innovations to address the evolving needs of farmers.
Regional Outlook:
Asia Pacific is projected to dominate the agriculture lighting market, fueled by the presence of major companies and significant investments in the agriculture sector. Europe is also a key market, driven by strong research and development initiatives focused on agriculture lighting technologies.
Companies Profiled
• AKVA Group
• ams OSRAM AG
• California LightWorks
• CBM Lighting
• Current Lighting Solutions, LLC
• DeLaval
• Gavita International B.V
• HATO Agricultural Lighting
• Heliospectra AB
• Hubbell Incorporated
• Lely
• Luminus, Inc.
• Samsung
• Signify Holding
• Sunbird
• Other Key Players
Market Opportunities and Demand:
Opportunities abound in catering to the increasing demand for energy-efficient and sustainable lighting solutions in agriculture. Addressing the evolving needs of farmers, such as crop-specific lighting and smart lighting controls, can further drive market demand.
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About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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