The Horticulture Lighting Market: A Comprehensive Analysis
According to recent study by MarkNtel Advisors the Global Horticulture Lighting Market valued at approximately USD 6.78 billion in 2023, is projected to witness a compound annual growth rate (CAGR) of around 16.22% between 2024-2030. Various factors, including market trends, size, forecasts, growth factors, challenges, and competitor assessments drive this growth.
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Horticulture Lighting Market Segmentation Analysis: 2024-2030
The Horticulture Lighting Market is segmented into:
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
and each segment is further divided into subdivisions, providing a detailed breakdown of the market dynamics.
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Global Horticulture Lighting Market Opportunity:
Growing farm-to-table trends encouraging the need for horticulture lights - With the advent of the farm-to-table concept, access to local food in cafeterias, restaurants, food joints, and other locations has become easier and more flexible. Hence, people are now developing an affinity for locally grown foods which is why they are expected to gain popularity across different markets within the hospitality industry in the coming years. And therefore, the need for such grow lights facilitating on-time delivery of yield in the case of farm-to-table restaurants arises. Such trends owing to their significant impact, are supposed to amplify market growth.
Geographical Coverage of Global Horticulture Lighting Market
- North America
- South America
- Europe
- Middle East & Africa
- Asia-Pacific
Europe has captured a significant market share in the Global Horticulture Lighting Market, primarily due to high-level investments in the healthcare sector across countries like the US, Canada, and Mexico. North America has emerged as a prominent hub for Horticulture Lighting solutions, witnessing rapid growth over the historical period.
Top Leading key Players of Global Horticulture Lighting Market
- 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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Common Queries
- What is the current trajectory of cost and profit estimations in the Horticulture Lighting Industry?
- How do factors like supply and consumption shape the landscape of the industry?
- In what ways do import and export considerations impact the dynamics of the Horticulture Lighting Industry?
- Which technological advancements are anticipated to shape the future of the Horticulture Lighting Market?
- Who are the noteworthy players highlighted in the Horticulture Lighting Market research report?
- What are the anticipated USD valuations and the CAGR for the forecasted years?
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