Global Horticulture Lighting Market: In-Depth Analysis and Forecasts for 2024-2030
MarkNtel Advisors, a leading market research firm, has showed its latest study titled “Horticulture Lighting Market“, offering a detailed industry overview and market perspective. This comprehensive research provides insights into the current state of the market, highlighting recent advancements and emerging trends.
The report combines in-depth quantitative analysis with qualitative analysis; it ranges from macro-overviews of the overall market size, industry chain, and market dynamics to micro details of segment markets. This, as a result, provides a thorough overview of the industry under study as well as a profound understanding of all of its important features.
Analysis and Insights into the Horticulture Lighting Market: 2024-2030
The Global Horticulture Lighting Market size is valued at around USD 6.78 Billion in 2023 and is projected to grow at a CAGR of around 16.22% during the forecast period, i.e., 2024-30. The market is driven by the exponentially rising population throughout the world entwined with a rapid climate change, resulting in greater food demand and immense pressure on the agriculture industry. Such swift augmentation in need can only be satiated through additional modern ways like indoor farming that requires horticulture lighting. Additionally, the growing propensity for home-grown fruits and vegetables fuels the market during the forecast period.
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What are the primary factors driving the growth of the Horticulture Lighting Market?
Widespread Adoption of Horticulture Lighting in Numerous Agricultural Applications – The increased deployment of horticulture lighting in numerous agricultural applications, including urban farming, supplemental lighting, cultivation without daylight, and multilayer cultivation, provides the necessary impetus to the market for the projected timeframe. Further, the growing vertical farming applications and greenhouse projects enthrall the market. Additionally, the population boom for the past few years, instigating the farmers to go indoors and utilize every bit of resource to cater to the up-scaling needs, further propels the market through 2030.
Horticulture Lighting Market Segmentation:
The Horticulture Lighting market is categorized in to different segments. Analyzing growth across these segments enables a comprehensive understanding of key growth areas within the industry. This segmentation provides valuable market insights, empowering stakeholders to make strategic decisions and identify primary market applications effectively.
By Application
- Indoor Farming
- Greenhouse
- Vertical Farming
By Technology
- High-Intensity Discharge (HID)
- LED
- High-Pressure Sodium Lamp
- Fluorescent
- T5
- CFL
By Offering
- Hardware
- Software
- Services
By Cultivation
- Vegetable
- Fruits
- Floriculture
- Others (Medicinal plants, Aromatic, etc.)
By Lighting Type
- Top lighting
- Inter lighting
- Supplemental Lighting
- Sole-Source Lighting
- Photoperiodic Lighting
Geographical Analysis into the Horticulture Lighting Market:
The Horticulture Lighting market is categorized based regional:
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
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Competitive Landscape and Horticulture Lighting Market Share Analysis:
The competitive landscape of the Horticulture Lighting Market includes comprehensive details about competitors. These details encompass company overviews, financial performance, revenue generation, market potential, investments in research and development, new market strategies, production facilities, strengths and weaknesses, product launches, ongoing trials, approvals, patents, product range, dominant applications, and technology life cycle.
- Bridgelux Inc.
- EYE Hortilux
- Maxigrow Ltd
- Hortilux Schreder
- Osram Licht AG
- Gavita International BV
- Lumileds
- Agrolux
- PARsource
- Heliospectra
- Signify
- Valoya
- California Lightworks
- LumiGrow
- EYE Hortilux
- Others
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Questions Addressed in this Study
- What factors are driving the Horticulture Lighting Market growth?
- How is the Horticulture Lighting Market expected to grow over the next five years?
- What are the key insights into the current trends in the Horticulture Lighting Market?
- What is the current size of the Horticulture Lighting Market, and how is it projected to change in the future?
- What is the future outlook for the Horticulture Lighting Market in terms of technological advancements and market expansion?
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Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 14.8 diverse industrial verticals.
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