World population is expected to grow by 2.2 billion people between 2009 and 2050, and to feed such a large population, countries have to double their food production, which results in a rise in demand for sustainable agriculture due to decreasing agricultural land. Furthermore, growing demand for organic food, increasing use of horticulture lighting in various agriculture applications, advancements in LED technology and growing demand for organic food are driving the growth of the market. The major restraint is affecting the market is complex light spectrum requirements and the high cost associated with horticulture light manufacturing.
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Data Bridge Market Research analyzes the Global Horticulture Lighting Market is expected to reach USD 22,486,852.80 thousand by 2030 from USD 5,428,000.00 thousand in 2022, growing with a substantial CAGR of 19.7% in the forecast period of 2023 to 2030.
Key Findings of the Study
Increasing Use of Horticulture Lighting in Various Agriculture Applications Drive the Market Growth
The increasing use of horticulture lighting in various agriculture applications is indeed acting as a significant driver for the global horticulture lighting market. This trend is growing awareness of the benefits of Controlled Environment Agriculture (CEA) and the need to address the challenges of traditional farming methods, such as climate variability, limited arable land, and the need for year-round crop production. Consumers are increasingly seeking out fruits, vegetables, and herbs grown closer to home, driving the need for year-round cultivation. One key application driving the horticulture lighting market is Vertical Farming. Vertical farms are gaining popularity in urban areas due to their ability to maximize space while minimizing environmental impacts.
Thus, the above advantages for the businesses had them improve customer service, as there is a rise in demand for improvement of customer services, which is will drive the growth of the global horticulture lighting market.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015- 2020)
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Quantitative Units
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Revenue in USD Thousand, Volumes in Units, Pricing in USD
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Segments Covered
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Offering (Hardware, Software and Services), Deployment (Turnkey Solution and Retrofit Solution), Lighting Type (Top Lighting, Supplemental Lighting, Inter Lighting, Photoperiodic Lighting and Sole-Source Lighting), Lighting Type (Top Lighting, Supplemental Lighting, Inter Lighting, Photoperiodic Lighting and Sole-Source Lighting), Cultivation (Vegetables, Fruits and Floriculture), Technology (High-Intensity Discharge (HID) and Fluorescent), Application (Greenhouse and Vertical Farming)
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Country Covered
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U.S., Canada, Mexico, Germany, U.K., France, Spain, Italy, Netherlands, Russia, Switzerland, Denmark, Sweden, Poland, Belgium, Turkey, Norway, Finland, Rest of Europe, China, Japan, South Korea, India, Malaysia, Taiwan, Australia, Singapore, Indonesia, Thailand, New Zealand, Philippines, Vietnam, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, Bahrain, U.A.E., Kuwait, Oman, Qatar, Egypt, Israel, and Rest of Middle East and Africa
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Market Players Covered
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ams-OSRAM AG (Austria), Samsung (South Korea), ACUITY BRANDS, INC. (U.S.), The Scotts Company LLC (U.S.), Signify Holding (Netherlands), EVERLIGHT ELECTRONICS CO., LTD. (Taiwan), TE Connectivity (U.K.), Cree LED, an SGH company. (U.S.), UPSHINE Lighting, SAVANT TECHNOLOGIES LLC (U.S.), Valoya, Inc.(Finland), Hortilux Schréder (Netherland), excite LED Grow Lights (Switzerland), Horticulture Lighting Group (U.S.), Thrive Agritech (U.S.), California LightWorks (U.S.), Agnetix (U.S.), Active Grow (U.S.), Heliospectra (Sweden), Midstream Ltd.(U.K.), Forge Europa (U.K.), TESLUX Lighting s.r.o. (Czech Republic), The Ronfell Group (U.K.)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Segment Analysis:
The global horticulture lighting market is segmented into six notable segments offering, deployment, lighting type, cultivation, technology, and application.
- Based on offering, the market is segmented into hardware, software, and services.
In 2023, the hardware segment is expected to dominate the global horticulture lighting market
In 2023, the hardware segment is expected to dominate with the 63.60% market share because of the continued demand for advanced lighting systems, including LED fixtures, grow lights, and control systems, to enhance crop productivity and energy efficiency in indoor farming and greenhouse operations. These hardware components play a pivotal role in optimizing plant growth and crop quality, making them a key focus for growers and businesses in the horticulture industry.
- Based on deployment, the market is segmented into turnkey solution and retrofit solution.
In 2023, the turnkey solution segment is expected to dominate the global horticulture lighting market
In 2023, the turnkey solution segment is expected to grow with a 66.69% market share due to their substantial power demands and investments in critical infrastructure
- Based on lighting type, the market is segmented into top lighting, supplemental lighting, inter lighting, photoperiodic lighting, and sole-source lighting. In 2023, the top lighting segment is expected to dominate with a market share of 37.72%.
- Based on cultivation, the market is segmented into vegetables, fruits, and floriculture. In 2023, vegetables segment is expected to dominate with a market share of 55.39%
- Based on technology, the market is segmented into High-Intensity Discharge (HID), fluorescent, and others. In 2023, High-Intensity Discharge (HID) segment is expected to dominate with a market share of 59.96%
- Based on application, the market is segmented into greenhouse, vertical farming, and others. In 2023, greenhouse segment is expected to dominate with a market share of 47.56%.
Major Players
Data Bridge Market Research analyzes ams-OSRAM AG (Austria), Samsung (South Korea), ACUITY BRANDS, INC. (U.S.), The Scotts Company LLC (U.S.), Signify Holding (Netherlands) as the major market players in the global horticulture lighting market.
Market Developments
- In June 2023, ams-OSRAM AG’s fifth-generation OSLON Square Hyper Red LED achieves a market-leading wall plug efficiency of 78.8%, reducing energy consumption and costs for indoor crop growth. With a remarkable Q90 lifetime of 102,000 hours and high durability, it reinforces its leadership in horticulture lighting. This innovation allows growers to optimize their lighting systems and maintain high crop yields while saving on energy costs.
- In June 2023, Signify Holding, a global lighting leader, aided Topline Gerbera nursery in transitioning from HPS to full LED lighting. The Philips GreenPower LED toplighting system provided enhanced illumination while significantly reducing energy consumption, enabling year-round usage. It reduces electricity consumption by 40%. This benefits the company by demonstrating its capabilities and improving the company's brand image.
- In November 2022, the California LightWorks MegaDrive LED system is deployed to boost the yield of Ghost Town Cannabis in the challenging desert setting. The MegaDrive system was controlled to optimize light spectrum and intensity, minimizing environmental impact with reduced energy consumption and carbon footprint. This benefits the company by increasing its customer base, which increases revenue and customer trust.
- In May 2022, Samsung conducted research along with Gyeongsang National University’s research team in South Korea to examine the impact of horticultural lighting on plant growth. The research found that white LED lights with a 437 nm peak wavelength are effective for year-round lettuce and leafy vegetable cultivation in vertical farming, encouraging the development of specialized horticulture LED light sources for enhanced cultivation. This benefits Samsung in designing its products along with the need for vertical farming.
- In March 2021, Acuity Brands, Inc. unveiled Verjure, a high-quality LED lighting solution for indoor horticulture. The Verjure Pro Series LED lights, developed based on plant research, delivered reliable performance throughout various growth stages. They came in three sizes for flexibility in settings like warehouses, greenhouses, and vertical racks.
Regional Analysis
The countries covered in the global horticulture lighting market are U.S., Canada, Mexico, Germany, U.K., France, Spain, Italy, Netherlands, Russia, Switzerland, Denmark, Sweden, Poland, Belgium, Turkey, Norway, Finland, Rest of Europe, China, Japan, South Korea, India, Malaysia, Taiwan, Australia, Singapore, Indonesia, Thailand, New Zealand, Philippines, Vietnam, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, Bahrain, U.A.E., Kuwait, Oman, Qatar, Egypt, Israel, and Rest of Middle East and Africa.
As per Data Bridge Market Research analysis:
Asia-Pacific is the fastest growing and expected to be the dominating region in the market
Asia-Pacific is expected to dominate the market with its strong commitment to sustainable agriculture and environmental regulations. The region's extensive greenhouse infrastructure and demand for year-round fresh produce are driving the adoption of advanced lighting technologies.
For more detailed information about the global horticulture lighting market report, click here – https://www.databridgemarketresearch.com/ar/reports/global-horticulture-lighting-market
