Dynamic 16.22% CAGR Charts Horticulture Lighting Market's Future in 2024-30

Market Overview: Global Horticulture Lighting Market

MarkNtel Advisors, a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. Recently published a report on the Global Horticulture Lighting Market and provide your business with the latest market trends and analysis from our reports to make informed decisions and stay ahead of the competition.

Horticulture Lighting Market Insights 2024-30

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.

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Top Players in the 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

Segmentation Analysis of Horticulture Lighting Market

Horticulture Lighting Market exactly assesses and highlights significant trends and influencing factors within each segment. The comprehensive analysis extends its predictions for the period spanning 2024-30, focusing on the national landscape. The market is exactly categorized based on this analysis, providing valuable insights into its various facets.

-By Lighting Type

Top lighting
Inter lighting
Supplemental Lighting
Sole-Source Lighting
Photoperiodic Lighting

Here, Inter lighting segment acquires the major revenue share in the market during the forecast period. Such dominance can be credited to its consummate ability to proportionally distribute the lights in the canopy that otherwise tends to receive lesser lights in lower and middle levels. With relatively improved light efficacy, the Inter lighting led to higher yields as compared to other variants. Besides, the sudden rise in the number of greenhouses for cucumber and tomato agriculture further acts as a catalyst to the market.

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-By Application

Indoor Farming
Greenhouse
Vertical Farming

-By Technology

High-Intensity Discharge (HID)
Fluorescent

-By Offering

Hardware
Software
Services

-By Cultivation

Vegetable
Fruits
Floriculture
Others (Medicinal plants, Aromatic, etc.)

A Comprehensive Geographical Analysis:

-By Region

North America
South America
Europe
The Middle East & Africa
Asia-Pacific

Europe demonstrates a significant shareholding and thereby dominates the Global Horticulture Lighting Market in the historical period. Such dominance can be attributed to numerous factors. One would be the availability of relatively larger areas for cultivation. In addition, being the home to one of the strongest economies enables the region to attract substantial investment from neighborhoods and poses higher capital investment capabilities.

In fact, countries like France, Italy, Netherlands, and Spain, inhibiting massive area under greenhouse cultivation, emerges as an area of remunerative opportunities for the leading players in the Global Horticulture Lighting Market.

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