Global Horticulture Lighting Market

Horticulture Lighting Market Size, Share, Growth Analysis, By Technology(Fluorescent, HID, LED), By Spectrum(Partial and Full), By Region - Industry Forecast 2025-2032


Report ID: SQMIG45K2069 | Region: Global | Published Date: March, 2024
Pages: 197 | Tables: 61 | Figures: 77

Horticulture Lighting Market News

  • With a market-leading wall plug efficiency of 78.8% in June 2023, ams-OSRAM AG.'s fifth-generation OSLON Square Hyper Red LED lowers indoor crop growth expenses and energy consumption. With its exceptional durability and Q90 lifespan of 102,000 hours, it solidifies its position as the industry leader in horticultural lighting. With the help of this invention, farmers may reduce their energy expenses while maintaining excellent crop yields and optimizing their lighting systems.

  • Leading global lighting company Signify Holding helped Topline Gerbera Nursery make the switch from HPS to fully LED lighting in June 2023. The year-round use of the Philips GreenPower LED toplighting system was made possible by its substantial energy savings and improved illumination. It cuts down on electricity use by forty percent. This helps the business by showcasing its strengths and enhancing its reputation.

  • In March 2023, Signify Holding announced that it had launched a new LED grow light for greenhouses. The new light, called the Philips GreenPower LED GrowStar 1000E, is designed to provide high-quality light for a variety of crops.

  • In February 2023, OSRAM announced that it had launched a new LED grow light for indoor farms. The new light, called the OSRAM Sylvania LEDina Grow, is designed to provide high-quality light for a variety of crops.
$5,300
BUY NOW GET FREE SAMPLE
Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

Horticulture Lighting Market size was valued at USD 4.15 Billion in 2022 and is poised to grow from USD 5.69 Billion in 2023 to USD 71.54 Billion by 2031, at a CAGR of 37.21% during the forecast period (2024-2031).

The major market participants use tactics like joint ventures and the introduction of new products to increase their market share. To improve their position in the market, companies are also buying up rival companies. 'Signify NV (Netherlands)', 'OSRAM GmbH (Germany)', 'General Electric Company (United States)', 'Heliospectra AB (Sweden)', 'Cree, Inc. (United States)', 'Valoya Oy (Finland)', 'California LightWorks (United States)', 'Hubbell Incorporated (United States)', 'LumiGrow, Inc. (United States)', 'Illumitex Inc. (United States)', 'Everlight Electronics Co., Ltd. (Taiwan)', 'GE Lighting Solutions, LLC (United States)', 'Hortilux Schréder B.V. (Netherlands)', 'Gavita International B.V. (Netherlands)', 'Current, powered by GE (United States)', 'BIOS Lighting (United States)', 'Agrolux (Netherlands)', 'Fluence by OSRAM (United States)', 'PARsource (United States)', 'Plessey Semiconductors Ltd. (United Kingdom)', 'Lumileds Holding B.V. (Netherlands)', 'Illumitex (United States)'

The shift from traditional lighting technologies to LED lighting is a major driver in the horticulture lighting market. LED lighting offers energy efficiency, longer lifespan, and the ability to customize light spectra, allowing growers to create optimal lighting conditions for specific crops.

Vertical Farming and Controlled Environment Agriculture (CEA) The growing use of LED technology in horticulture lighting systems is a significant industry trend. Due to its energy efficiency, extended lifespan, and fine control over light spectrum, LED (Light Emitting Diode) illumination has become increasingly popular in horticulture. Growing numbers of growers are switching from HPS lamps, a common traditional lighting source, to LEDs. With the use of LEDs, producers may adjust light wavelengths to different stages of plant development, increasing crop yields and quality. Furthermore, since LEDs generate less heat, they don't require as much cooling, which further reduces energy consumption. The industry is anticipated to develop in the upcoming years as a result of this shift towards LED horticulture lighting.

Europe commanded a market share of more than 32% in terms of revenue in 2022, and it is anticipated that it will continue to dominate the industry during the projected period. Since there is a shortage of fertile agricultural land and there is an increase in population, these two factors are expected to drive demand for the business. Growing awareness of the need for alternative farming is one result.

Request Free Customization

Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.

logo-images

Feedback From Our Clients

Global Horticulture Lighting Market

Report ID: SQMIG45K2069

$5,300
BUY NOW GET FREE SAMPLE