Agricultural Lighting Market
Report ID: UCMIG45J2166
Agricultural Lighting Market Size, Share, Growth Analysis, By Offering(Hardware, Software, Services), By Light Source(Fluorescent, HID, LED, Others (xenon), By Wattage Type(Below 50W, 50 – 150W, Above 150W), By Installation Type(New, Retrofit), By Sales Channel(Retail/Wholesale, Direct Sales, Online/E-commerce), By Application(Horticulture, Livestock, Aquaculture), By Region(Americas, Europe, Asia Pacific, RoW) - Industry Forecast 2025-2032
Report ID:
UCMIG45J2166 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
|Tables:
0
|Figures:
0
Agricultural Lighting Market Insights
Market Overview:
The market for agricultural lighting is anticipated to increase from USD 11.8 billion in 2023 to USD 21.4 billion by 2028, growing at a CAGR of 12.5% throughout that time. Due to a variety of factors, including the development of LED technology, the rise in government programs to support agricultural lighting, and the increased need for food as a result of population growth, the industry has a promising growth potential.
Agricultural Lighting Market, Forecast & Y-O-Y Growth Rate, 2020 - 2028
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This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Electronic Equipment & Instruments by segment aggregation, the contribution of the Electronic Equipment & Instruments in Technology Hardware & Equipment and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
Segmentation Analysis:
The Agricultural Lighting Market is segmented by Offering, Light Source, Wattage Type, Installation Type, Sales Channel, Application, Region. We are analyzing the market of these segments to identify which segment is the largest now and in the future, which segment has the highest growth rate, and the segment which offers the opportunity in the future.
Agricultural Lighting Market Basis Point Share Analysis, 2021 Vs. 2028
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- Based on Offering the market is segmented as, Hardware, Software, Services
- Based on Light Source the market is segmented as, Fluorescent, HID, LED, Others (xenon, plasma, and induction lighting)
- Based on Wattage Type the market is segmented as, Below 50W, 50 – 150W, Above 150W
- Based on Installation Type the market is segmented as, New, Retrofit
- Based on Sales Channel the market is segmented as, Retail/Wholesale, Direct Sales, Online/E-commerce
- Based on Application the market is segmented as, Horticulture, Livestock, Aquaculture
- Based on Region the market is segmented as, Americas, Europe, Asia Pacific, RoW, KEY MARKET PLAYERS, Signify Holding, ams-OSRAM GmbH, Gavita International B.V., Valoya, California Lightworks, DeLaval, CBM Lighting, Heliospectra AB, Hortilux Schreder
Regional Analysis:
Agricultural Lighting Market is being analyzed by North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA) regions. Key countries including the U.S., Canada, Germany, France, UK, Italy, Spain, China, India, Japan, Brazil, GCC Countries, and South Africa among others were analyzed considering various micro and macro trends.
Agricultural Lighting Market Attractiveness Analysis, By Region 2020-2028
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Agricultural Lighting Market : Risk Analysis
SkyQuest's expert analysts have conducted a risk analysis to understand the impact of external extremities on Agricultural Lighting Market. We analyzed how geopolitical influence, natural disasters, climate change, legal scenario, economic impact, trade & economic policies, social & ethnic concerns, and demographic changes might affect Agricultural Lighting Market's supply chain, distribution, and total revenue growth.
Competitive landscaping:
To understand the competitive landscape, we are analyzing key Agricultural Lighting Market vendors in the market. To understand the competitive rivalry, we are comparing the revenue, expenses, resources, product portfolio, region coverage, market share, key initiatives, product launches, and any news related to the Agricultural Lighting Market.
To validate our hypothesis and validate our findings on the market ecosystem, we are also conducting a detailed porter's five forces analysis. Competitive Rivalry, Supplier Power, Buyer Power, Threat of Substitution, and Threat of New Entry each force is analyzed by various parameters governing those forces.
Key Players Covered in the Report:
- agricultural lighting market is projected to grow from USD 11.8 billion in 2023 to USD 21.4 billion by 2028; it is expected to grow at a CAGR of 12.5% from 2023 to 2028. The key factors fueling the growth of this market include rising number of government initiatives to promote the adoption of CEA practices and SSL technology, surging demand for food owing to the continuously increasing population, extensive deployment of LED fixtures in controlled agricultural environment increased funding to develop vertical farms and greenhouses, gradual emergence of agriculture lighting software and widespread use of automated and energy-efficient lighting fixtures to minimize energy costs and regulate plant growth.
- Driver: Extensive deployment of LED fixtures in controlled agricultural environment
- Sufficient light with the correct spectral range stimulates photosynthesis and is necessary for plant growth. Different wavelengths are important for the plant's growth, shape, development, and blossoming. The time period during which the plants are exposed to light is also significant for plant growth. The “natural daytime” can, thus, be extended with the aid of artificial light, resulting in stronger growth and increased bud development. With LED technologies, it is possible to maximize plant exposure to the precise wavelength that promotes photosynthesis and optimum growth. In controlled indoor environments, such as hydroponics, greenhouses, and indoor farms, LEDs have always been effective as they consume less power than other lights. Additionally, LEDs are reliable, compact, and have fast-switching operations. LED technology offers several long-term benefits in agricultural lighting, such as compact size, low power consumption, and high durability; it can potentially reduce the carbon footprint in agriculture farms. In Europe, the greenhouse industry is one of the largest energy consumers, using artificial lighting. To reduce energy consumption, European governments are studying the benefits of LED technology for greenhouse plants. This study aims at replacing HPS lamps with LED grow lights to improve energy efficiency in greenhouses. All these factors contribute to the growing demand for LED grow lights in the agriculture lighting market.
- Restraint: Complex requirement for varied light spectra for different crops
- Different characteristics of light, such as wavelength, intensity, duration, and direction, can influence plant growth and development. Plants generally utilize the light spectrum between 400 and 750 nm, which includes red, orange, yellow, green, blue, indigo, and violet light. Some spectra stimulate vegetative growth and others increase the yield in flowers and fruits. Blue light helps in the photosynthesis and development of roots and vegetative growth, while red light promotes flower and fruit production. In some cases, blue light is not useful during the flowering and budding phases, which may yield fewer plant buds. Compared to HID lights, compact fluorescent lamps (CFLs) and LEDs are more useful as they efficiently provide full-spectrum light. LED lights help growers scale plant production due to their full-light spectrum capabilities, low heat waste and maintenance, and extended lifespan. The selection of the wrong type of LEDs affects plant growth. HPS lights promote better plant growth but offer a poor color rendering index (CRI). Plants grow elongated due to the lack of blue/ultraviolet radiation from HPS lights.
- The advent of patented spectra is expected to diminish the impact of this factor in the coming years. For example, Valoya has developed spectra for all plant requirements, from seed to sale. The company’s patented spectra are designed to optimize the growth of a variety of plants in different applications. In addition to photosynthesis, the company’s spectra give valuable information about plants, their environment, allowing control of plant morphology and physiological traits.
- Opportunity: Year-round crop production, irrespective of weather conditions
- CEA's benefit and ability to help produce crops throughout the year, without depending on the weather conditions, have increased its adoption in regions where the climate does not support traditional farming. For instance, European countries import a substantial share of their fresh produce requirements due to the unavailability of farming land and unfavorable weather conditions. Rain patterns and temperature changes could diminish agricultural output in several countries worldwide. With global weather patterns becoming more unpredictable and global warming being a major challenge, CEA is expected to emerge as an ideal option and effective solution for cities or countries that depend highly on imports of various essential greens. With the help of agriculture lighting, year-round crop production can be achieved in any region of the world. As the production process is not dependent on the weather, controlled environment farming eliminates the concept of seasonal crops. It also reduces the harvest time and increases the production volume without compromising flavor or quality.
- Challenge: Effective integration of different components and technologies used in CEA facilities
- CEA facilities, such as vertical farms and greenhouses, combine technologies such as HVAC systems, sensors, and LED grow lights. The effective integration of all these elements is challenging as different companies provide systems with additional attributes to control the environment of these facilities. Thus, these companies need to work together to develop compatible systems to control environments of such facilities for maximum yields. Some companies such as Certhon (Netherlands) and Nexus Corporation (US) provide commercial greenhouses. Other companies such as Logiqs B.V. (Netherlands) provide greenhouse material handling logistics. Companies such as LumiGrow Inc. (US) and Heliospectra A.B. (Sweden) offer LED grow lights. Thus, it becomes challenging for agriculturists and growers to receive different components from different companies and integrate them effectively.
- Agricultural Lighting Market Ecosystem
- The prominent players in the agricultural lighting market are Signify Holding (Netherlands), ams-OSRAM GmbH (Germany), Gavita International B.V. (Netherlands), Valoya (Finland), California LightWorks (US), DeLaval (Sweden), CBM Lighting (Canada), Heliospectra AB (Sweden), Hortilux Schréder (Netherlands). These companies not only boast a comprehensive product portfolio but also have a strong geographic footprint.
- Retrofit installations segment is expected to register a higher CAGR during the forecast period
- Retrofit installations segment is expected to register a higher CAGR during the forecast period by installation type. The retrofitting of light fixtures in commercial greenhouses, vertical farms, livestock facilities helps in energy consumption, reduction in maintenance costs. This, in turn, results in low operating costs as grow lights require to operate for nearly 14 to 18 hours daily, depending on the types of plants that are being cultivated. The retrofitting of HID lamps with LED grow lights results in their high efficiency, lightweight, and long life. These factors are expected to drive the growth of the retrofit installations market globally.
- Software offering segment to grow at the highest CAGR during the forecast period
- Light-controlling software and technical services are relatively new in the market. The software segment of the agricultural lighting market is projected to grow at a higher CAGR than the hardware segment during the forecast period owing to the increasing adoption of automation solutions in the agriculture sector to minimize labor costs and enhance production efficiency. With the increasing demand and awareness to conserve energy and save energy costs, the concept of automated lighting solutions is bound to boom in the upcoming years. This is possible with the integration of lighting fixtures with dedicated software, leading to the growth of software segment in the forecast period.
- LED light source is expected to hold the largest market share throughout the forecast period
- The agricultural lighting market is experiencing a rapid transition from conventional lighting technologies to LED lighting technology. Energy efficiency continues to be a key factor for adopting LED technology in agriculture, along with additional benefits in low heat, long lifespan, light weight, and enhanced controllability. Vertical farms are gaining traction across urban localities in Americas, Europe, Asia Pacific, and the Middle East & Africa as farmers strive to meet the demand for fresh fruits and vegetables throughout the year. LED grow lights are suitable for vertical farming applications owing to their compact and highly directional design and adjustable light spectrum. In addition to this, the LED lights are suitable for livestock facilities as they require 12-16 hours of lighting per day, in such cases LED lights are essential owing to their energy efficiency characteristics. As a result, the LED segment is projected to account for the largest size of the agricultural lighting market from 2023 to 2028.
- Retail/Wholesale sales channel to hold the largest market share in 2022
- The retail/wholesale segment is projected to account for the largest size of the agricultural lighting market from 2023 to 2028, owing to the increased convenience of conventional buying or sales channel. The after-sales-support and guidance is more as compared to other sales channels. Most of the buyers have traditional buying methods which tend them to prefer retail or wholesale methods of sales over the others, leading too this segment holding the largest market share.
- Below 50W lamps are expected to hold the largest market share throughout the forecast period
- Below 50W lamps and lighting have the largest market share in the agricultural lighting for wattage type segment, owing to lesser electricity consumption by these lamps. Additionally, with the rising adoption of LED lighting in agricultural applications, brighter and more sufficient lighting is available in lesser-wattage LED lamps. This results in significant cost savings and energy efficiency, leading to increased profitability for farmers.
- Livestock segment to hold the largest market share in 2022
- The livestock segment holds the largest market share for the agricultural lighting market, owing to the increased requirement for milk, meat, eggs, and poultry, especially in European and American countries. Since the amount of meat and eggs consumed is much more in American and European countries, clubbed with the fact that the global population is increasing by the day, the livestock segment held the largest market share in 2022.
- Europe is projected to register the highest CAGR between 2023 and 2028
- Europe is expected to grow at the highest CAGR during 2023 and 2028 since the region has the strongest economies in the world, along with flourishing industries that lead to increased capital investment capabilities. Countries such as the Netherlands, Spain, France, and Italy have large areas under greenhouse cultivation and have significantly higher amount of livestock facilities for milking, poultry etc. The use of LED grow lights in this region is gradually increasing from being a supplemental lighting source to becoming a primary light source for indoor farming. The population of Europe has expanded rapidly in recent years, and countries of the region are importing fruits and vegetables in frozen form from Africa and Asia.
- Recent Developments
- In February 2023, ams-OSRAM AG, global leader in optical solutions, announced a collaboration using the OSLON Square platform and OSLON SSL LEDs with Revolution Microelectronics (US), a controlled agriculture environment designer, to provide lighting for GreenCare Collective’s new futuristic facility. A perpetual harvest methodology developed by GreenCare Collective's cutting-edge facility uses seasonal programmed spectrum controls and cutting-edge crop steering techniques to produce an extra harvest of plants every year.
- In January 2023, Energous Corporation (US), a leading developer of RF-based charging for wireless power networks, and ams-OSRAM AG, a leader in optical solutions, announced a collaboration on a wirelessly powered multi-spectral light sensor for Controlled-Environment Agriculture and vertical farming. These sensors allow farmers to manage their lighting in the most efficient way possible.
- In December 2021, Hortilux collaborated with LLC DTK, a Russia’s leading rose company to provide them Hortilux’s HPS NXT2 fixtures which is perfect match for the company requirement: they have good light distribution, are easy to maintain, and they’re extremely reliable. By now the NXT2 1000W fixtures have been installed over a three-hectare area.
- In January 2023, California LightWorks, partnered with Virex Technologies (Spain) to expand European distribution. This partnership is made to implement crop illumination, lower installation costs, and save energy by producing less heat.
- In September 2022, Signify Saudi Arabia signed an MoU with MEWA to meet the growing demands of agriculture in the kingdom of Saudi Arabia. It mainly focuses on Smart animal farms with Dynamic lighting system, Horticulture smart farms with high tech GrowWise control system for Sustainable, predictable quality and locally produced crops; and Aquaculture smart farms with lighting control system using tailored lighting conditions to optimize aquatic environment.
- In May 2022, ams-OSRAM AG expanded its lighting solutions and products by adding OSLON LED horticulture lighting products to its portfolio. OSLON Optimal LEDs balance performance and cost with robustness, high reliability, and excellent lifetime. The new products are based on the same advanced InGaAlP Thin film chip technology. It has a larger spherical lens which produces a wide 120° viewing angle, providing an even distribution of light over crops without ‘hot spots’ of concentrated light.
- In February 2022, California LightWorks launched its new MegaDrive Vertical series for indoor cannabis cultivators. This patented new LED system offers indoor cultivators the same technology that greenhouses across the nation have adopted from California Lightworks to achieve dramatically lower total installed cost while boosting return on investment by reducing heat, energy consumption, and carbon footprint.
- In December 2021, Hortilux collaborated with LLC DTK, Russia’s leading rose company, to provide them Hortilux’s HPS NXT2 fixtures, which match the company’s requirement perfectly. By now, the NXT2 1000W fixtures have been installed over a 3-hectare area.
- In September 2021, HORTILED Multi Fusion is an LED grow light system that is perfectly suited to indoor farming. wide beam angle, ensuring uniform light distribution. This in turn results in a more uniform crop. It also means that fewer light sources are required. It also ensures a high light output combined with significant energy savings.
- KEY MARKET SEGMENTS
- By Offering
- Hardware
- Software
- Services
- By Light Source
- Fluorescent
- HID
- LED
- Others (xenon, plasma, and induction lighting)
- By Wattage Type
- Below 50W
- 50 – 150W
- Above 150W
- By Installation Type
- New
- Retrofit
- By Sales Channel
- Retail/Wholesale
- Direct Sales
- Online/E-commerce
- By Application
- Horticulture
- Livestock
- Aquaculture
- By Region
- Americas
- Europe
- Asia Pacific
- RoW
- KEY MARKET PLAYERS
- Signify Holding
- ams-OSRAM GmbH
- Gavita International B.V.
- Valoya
- California Lightworks
- DeLaval
- CBM Lighting
- Heliospectra AB
- Hortilux Schreder
SkyQuest's Expertise:
The Agricultural Lighting Market is being analyzed by SkyQuest's analysts with the help of 20+ scheduled Primary interviews from both the demand and supply sides. We have already invested more than 250 hours on this report and are still refining our date to provide authenticated data to your readers and clients. Exhaustive primary and secondary research is conducted to collect information on the market, peer market, and parent market.
Our cross-industry experts and revenue-impact consultants at SkyQuest enable our clients to convert market intelligence into actionable, quantifiable results through personalized engagement.
Scope Of Report
| Report Attribute | Details |
|---|---|
| The base year for estimation | 2021 |
| Historical data | 2016 – 2022 |
| Forecast period | 2022 – 2028 |
| Report coverage | Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis |
| Segments covered |
|
| Regional scope | North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA) |
| Country scope | U.S., Canada, Germany, France, UK, Italy, Spain, China, India, Japan, Brazil, GCC Countries, South Africa |
| Key companies profiled |
|
| Customization scope | Free report customization (15% Free customization) with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Reap the benefits of customized purchase options to fit your specific research requirements. |
Objectives of the Study
- To forecast the market size, in terms of value, for various segments with respect to five main regions, namely, North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA)
- To provide detailed information regarding the major factors influencing the growth of the Market (drivers, restraints, opportunities, and challenges)
- To strategically analyze the micro markets with respect to the individual growth trends, future prospects, and contribution to the total market
- To provide a detailed overview of the value chain and analyze market trends with the Porter's five forces analysis
- To analyze the opportunities in the market for various stakeholders by identifying the high-growth Segments
- To identify the key players and comprehensively analyze their market position in terms of ranking and core competencies, along with detailing the competitive landscape for the market leaders
- To analyze competitive development such as joint ventures, mergers and acquisitions, new product launches and development, and research and development in the market
What does this Report Deliver?
- Market Estimation for 20+ Countries
- Historical data coverage: 2016 to 2022
- Growth projections: 2022 to 2028
- SkyQuest's premium market insights: Innovation matrix, IP analysis, Production Analysis, Value chain analysis, Technological trends, and Trade analysis
- Customization on Segments, Regions, and Company Profiles
- 100+ tables, 150+ Figures, 10+ matrix
- Global and Country Market Trends
- Comprehensive Mapping of Industry Parameters
- Attractive Investment Proposition
- Competitive Strategies Adopted by Leading Market Participants
- Market drivers, restraints, opportunities, and its impact on the market
- Regulatory scenario, regional dynamics, and insights of leading countries in each region
- Segment trends analysis, opportunity, and growth
- Opportunity analysis by region and country
- Porter's five force analysis to know the market's condition
- Pricing analysis
- Parent market analysis
- Product portfolio benchmarking
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Agricultural Lighting Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Agricultural Lighting Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
- agricultural lighting market is projected to grow from USD 11.8 billion in 2023 to USD 21.4 billion by 2028; it is expected to grow at a CAGR of 12.5% from 2023 to 2028. The key factors fueling the growth of this market include rising number of government initiatives to promote the adoption of CEA practices and SSL technology, surging demand for food owing to the continuously increasing population, extensive deployment of LED fixtures in controlled agricultural environment increased funding to develop vertical farms and greenhouses, gradual emergence of agriculture lighting software and widespread use of automated and energy-efficient lighting fixtures to minimize energy costs and regulate plant growth.
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
- Driver: Extensive deployment of LED fixtures in controlled agricultural environment
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
- Sufficient light with the correct spectral range stimulates photosynthesis and is necessary for plant growth. Different wavelengths are important for the plant's growth, shape, development, and blossoming. The time period during which the plants are exposed to light is also significant for plant growth. The “natural daytime” can, thus, be extended with the aid of artificial light, resulting in stronger growth and increased bud development. With LED technologies, it is possible to maximize plant exposure to the precise wavelength that promotes photosynthesis and optimum growth. In controlled indoor environments, such as hydroponics, greenhouses, and indoor farms, LEDs have always been effective as they consume less power than other lights. Additionally, LEDs are reliable, compact, and have fast-switching operations. LED technology offers several long-term benefits in agricultural lighting, such as compact size, low power consumption, and high durability; it can potentially reduce the carbon footprint in agriculture farms. In Europe, the greenhouse industry is one of the largest energy consumers, using artificial lighting. To reduce energy consumption, European governments are studying the benefits of LED technology for greenhouse plants. This study aims at replacing HPS lamps with LED grow lights to improve energy efficiency in greenhouses. All these factors contribute to the growing demand for LED grow lights in the agriculture lighting market.
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
- Restraint: Complex requirement for varied light spectra for different crops
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
- Different characteristics of light, such as wavelength, intensity, duration, and direction, can influence plant growth and development. Plants generally utilize the light spectrum between 400 and 750 nm, which includes red, orange, yellow, green, blue, indigo, and violet light. Some spectra stimulate vegetative growth and others increase the yield in flowers and fruits. Blue light helps in the photosynthesis and development of roots and vegetative growth, while red light promotes flower and fruit production. In some cases, blue light is not useful during the flowering and budding phases, which may yield fewer plant buds. Compared to HID lights, compact fluorescent lamps (CFLs) and LEDs are more useful as they efficiently provide full-spectrum light. LED lights help growers scale plant production due to their full-light spectrum capabilities, low heat waste and maintenance, and extended lifespan. The selection of the wrong type of LEDs affects plant growth. HPS lights promote better plant growth but offer a poor color rendering index (CRI). Plants grow elongated due to the lack of blue/ultraviolet radiation from HPS lights.
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
- The advent of patented spectra is expected to diminish the impact of this factor in the coming years. For example, Valoya has developed spectra for all plant requirements, from seed to sale. The company’s patented spectra are designed to optimize the growth of a variety of plants in different applications. In addition to photosynthesis, the company’s spectra give valuable information about plants, their environment, allowing control of plant morphology and physiological traits.
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
- Opportunity: Year-round crop production, irrespective of weather conditions
- Exhibit Company Overview
- Exhibit Business Segment Overview
- Exhibit Financial Updates
- Exhibit Key Developments
- CEA's benefit and ability to help produce crops throughout the year, without depending on the weather conditions, have increased its adoption in regions where the climate does not support traditional farming. For instance, European countries import a substantial share of their fresh produce requirements due to the unavailability of farming land and unfavorable weather conditions. Rain patterns and temperature changes could diminish agricultural output in several countries worldwide. With global weather patterns becoming more unpredictable and global warming being a major challenge, CEA is expected to emerge as an ideal option and effective solution for cities or countries that depend highly on imports of various essential greens. With the help of agriculture lighting, year-round crop production can be achieved in any region of the world. As the production process is not dependent on the weather, controlled environment farming eliminates the concept of seasonal crops. It also reduces the harvest time and increases the production volume without compromising flavor or quality.
- Exhibit Company Overview
- Exhibit Business Segment Overview
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- Challenge: Effective integration of different components and technologies used in CEA facilities
- Exhibit Company Overview
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- CEA facilities, such as vertical farms and greenhouses, combine technologies such as HVAC systems, sensors, and LED grow lights. The effective integration of all these elements is challenging as different companies provide systems with additional attributes to control the environment of these facilities. Thus, these companies need to work together to develop compatible systems to control environments of such facilities for maximum yields. Some companies such as Certhon (Netherlands) and Nexus Corporation (US) provide commercial greenhouses. Other companies such as Logiqs B.V. (Netherlands) provide greenhouse material handling logistics. Companies such as LumiGrow Inc. (US) and Heliospectra A.B. (Sweden) offer LED grow lights. Thus, it becomes challenging for agriculturists and growers to receive different components from different companies and integrate them effectively.
- Exhibit Company Overview
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- Agricultural Lighting Market Ecosystem
- Exhibit Company Overview
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- Exhibit Financial Updates
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- The prominent players in the agricultural lighting market are Signify Holding (Netherlands), ams-OSRAM GmbH (Germany), Gavita International B.V. (Netherlands), Valoya (Finland), California LightWorks (US), DeLaval (Sweden), CBM Lighting (Canada), Heliospectra AB (Sweden), Hortilux Schréder (Netherlands). These companies not only boast a comprehensive product portfolio but also have a strong geographic footprint.
- Exhibit Company Overview
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- Retrofit installations segment is expected to register a higher CAGR during the forecast period
- Exhibit Company Overview
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- Retrofit installations segment is expected to register a higher CAGR during the forecast period by installation type. The retrofitting of light fixtures in commercial greenhouses, vertical farms, livestock facilities helps in energy consumption, reduction in maintenance costs. This, in turn, results in low operating costs as grow lights require to operate for nearly 14 to 18 hours daily, depending on the types of plants that are being cultivated. The retrofitting of HID lamps with LED grow lights results in their high efficiency, lightweight, and long life. These factors are expected to drive the growth of the retrofit installations market globally.
- Exhibit Company Overview
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- Software offering segment to grow at the highest CAGR during the forecast period
- Exhibit Company Overview
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- Light-controlling software and technical services are relatively new in the market. The software segment of the agricultural lighting market is projected to grow at a higher CAGR than the hardware segment during the forecast period owing to the increasing adoption of automation solutions in the agriculture sector to minimize labor costs and enhance production efficiency. With the increasing demand and awareness to conserve energy and save energy costs, the concept of automated lighting solutions is bound to boom in the upcoming years. This is possible with the integration of lighting fixtures with dedicated software, leading to the growth of software segment in the forecast period.
- Exhibit Company Overview
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- LED light source is expected to hold the largest market share throughout the forecast period
- Exhibit Company Overview
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- The agricultural lighting market is experiencing a rapid transition from conventional lighting technologies to LED lighting technology. Energy efficiency continues to be a key factor for adopting LED technology in agriculture, along with additional benefits in low heat, long lifespan, light weight, and enhanced controllability. Vertical farms are gaining traction across urban localities in Americas, Europe, Asia Pacific, and the Middle East & Africa as farmers strive to meet the demand for fresh fruits and vegetables throughout the year. LED grow lights are suitable for vertical farming applications owing to their compact and highly directional design and adjustable light spectrum. In addition to this, the LED lights are suitable for livestock facilities as they require 12-16 hours of lighting per day, in such cases LED lights are essential owing to their energy efficiency characteristics. As a result, the LED segment is projected to account for the largest size of the agricultural lighting market from 2023 to 2028.
- Exhibit Company Overview
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- Retail/Wholesale sales channel to hold the largest market share in 2022
- Exhibit Company Overview
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- The retail/wholesale segment is projected to account for the largest size of the agricultural lighting market from 2023 to 2028, owing to the increased convenience of conventional buying or sales channel. The after-sales-support and guidance is more as compared to other sales channels. Most of the buyers have traditional buying methods which tend them to prefer retail or wholesale methods of sales over the others, leading too this segment holding the largest market share.
- Exhibit Company Overview
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- Below 50W lamps are expected to hold the largest market share throughout the forecast period
- Exhibit Company Overview
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- Below 50W lamps and lighting have the largest market share in the agricultural lighting for wattage type segment, owing to lesser electricity consumption by these lamps. Additionally, with the rising adoption of LED lighting in agricultural applications, brighter and more sufficient lighting is available in lesser-wattage LED lamps. This results in significant cost savings and energy efficiency, leading to increased profitability for farmers.
- Exhibit Company Overview
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- Livestock segment to hold the largest market share in 2022
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- The livestock segment holds the largest market share for the agricultural lighting market, owing to the increased requirement for milk, meat, eggs, and poultry, especially in European and American countries. Since the amount of meat and eggs consumed is much more in American and European countries, clubbed with the fact that the global population is increasing by the day, the livestock segment held the largest market share in 2022.
- Exhibit Company Overview
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- Europe is projected to register the highest CAGR between 2023 and 2028
- Exhibit Company Overview
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- Europe is expected to grow at the highest CAGR during 2023 and 2028 since the region has the strongest economies in the world, along with flourishing industries that lead to increased capital investment capabilities. Countries such as the Netherlands, Spain, France, and Italy have large areas under greenhouse cultivation and have significantly higher amount of livestock facilities for milking, poultry etc. The use of LED grow lights in this region is gradually increasing from being a supplemental lighting source to becoming a primary light source for indoor farming. The population of Europe has expanded rapidly in recent years, and countries of the region are importing fruits and vegetables in frozen form from Africa and Asia.
- Exhibit Company Overview
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- Recent Developments
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- In February 2023, ams-OSRAM AG, global leader in optical solutions, announced a collaboration using the OSLON Square platform and OSLON SSL LEDs with Revolution Microelectronics (US), a controlled agriculture environment designer, to provide lighting for GreenCare Collective’s new futuristic facility. A perpetual harvest methodology developed by GreenCare Collective's cutting-edge facility uses seasonal programmed spectrum controls and cutting-edge crop steering techniques to produce an extra harvest of plants every year.
- Exhibit Company Overview
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- In January 2023, Energous Corporation (US), a leading developer of RF-based charging for wireless power networks, and ams-OSRAM AG, a leader in optical solutions, announced a collaboration on a wirelessly powered multi-spectral light sensor for Controlled-Environment Agriculture and vertical farming. These sensors allow farmers to manage their lighting in the most efficient way possible.
- Exhibit Company Overview
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- In December 2021, Hortilux collaborated with LLC DTK, a Russia’s leading rose company to provide them Hortilux’s HPS NXT2 fixtures which is perfect match for the company requirement: they have good light distribution, are easy to maintain, and they’re extremely reliable. By now the NXT2 1000W fixtures have been installed over a three-hectare area.
- Exhibit Company Overview
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- In January 2023, California LightWorks, partnered with Virex Technologies (Spain) to expand European distribution. This partnership is made to implement crop illumination, lower installation costs, and save energy by producing less heat.
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- In September 2022, Signify Saudi Arabia signed an MoU with MEWA to meet the growing demands of agriculture in the kingdom of Saudi Arabia. It mainly focuses on Smart animal farms with Dynamic lighting system, Horticulture smart farms with high tech GrowWise control system for Sustainable, predictable quality and locally produced crops; and Aquaculture smart farms with lighting control system using tailored lighting conditions to optimize aquatic environment.
- Exhibit Company Overview
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- In May 2022, ams-OSRAM AG expanded its lighting solutions and products by adding OSLON LED horticulture lighting products to its portfolio. OSLON Optimal LEDs balance performance and cost with robustness, high reliability, and excellent lifetime. The new products are based on the same advanced InGaAlP Thin film chip technology. It has a larger spherical lens which produces a wide 120° viewing angle, providing an even distribution of light over crops without ‘hot spots’ of concentrated light.
- Exhibit Company Overview
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- In February 2022, California LightWorks launched its new MegaDrive Vertical series for indoor cannabis cultivators. This patented new LED system offers indoor cultivators the same technology that greenhouses across the nation have adopted from California Lightworks to achieve dramatically lower total installed cost while boosting return on investment by reducing heat, energy consumption, and carbon footprint.
- Exhibit Company Overview
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- In December 2021, Hortilux collaborated with LLC DTK, Russia’s leading rose company, to provide them Hortilux’s HPS NXT2 fixtures, which match the company’s requirement perfectly. By now, the NXT2 1000W fixtures have been installed over a 3-hectare area.
- Exhibit Company Overview
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- In September 2021, HORTILED Multi Fusion is an LED grow light system that is perfectly suited to indoor farming. wide beam angle, ensuring uniform light distribution. This in turn results in a more uniform crop. It also means that fewer light sources are required. It also ensures a high light output combined with significant energy savings.
- Exhibit Company Overview
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- KEY MARKET SEGMENTS
- Exhibit Company Overview
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- By Offering
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- Hardware
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- Software
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- Services
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- By Light Source
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- Fluorescent
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- HID
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- LED
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- Others (xenon, plasma, and induction lighting)
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- By Wattage Type
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- Below 50W
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- 50 – 150W
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- Above 150W
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- By Installation Type
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- New
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- Retrofit
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- By Sales Channel
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- Retail/Wholesale
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- Direct Sales
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- Online/E-commerce
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- By Application
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- Horticulture
- Exhibit Company Overview
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- Exhibit Key Developments
- Livestock
- Exhibit Company Overview
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- Exhibit Key Developments
- Aquaculture
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- By Region
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- Americas
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- Europe
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- Asia Pacific
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- RoW
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- KEY MARKET PLAYERS
- Exhibit Company Overview
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- Signify Holding
- Exhibit Company Overview
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- Exhibit Financial Updates
- Exhibit Key Developments
- ams-OSRAM GmbH
- Exhibit Company Overview
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- Exhibit Financial Updates
- Exhibit Key Developments
- Gavita International B.V.
- Exhibit Company Overview
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- Valoya
- Exhibit Company Overview
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- California Lightworks
- Exhibit Company Overview
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- DeLaval
- Exhibit Company Overview
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- Exhibit Key Developments
- CBM Lighting
- Exhibit Company Overview
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- Exhibit Financial Updates
- Exhibit Key Developments
- Heliospectra AB
- Exhibit Company Overview
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- Exhibit Financial Updates
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- Hortilux Schreder
- Exhibit Company Overview
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- Exhibit Financial Updates
- Exhibit Key Developments
Methodology
For the Agricultural Lighting Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Agricultural Lighting Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Agricultural Lighting Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Agricultural Lighting Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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