The Europe horticulture lighting market holds significant importance in the global horticulture industry. The region's advanced agricultural practices focus on sustainability, and high-quality produce drives the demand for horticulture lighting solutions. Europe's long winters and limited sunlight necessitate artificial lighting for year-round cultivation. Furthermore, the region's stringent regulations on pesticide use and environmental impact encourage the adoption of sustainable farming methods, including indoor and vertical farming. With a strong emphasis on high-value crops, such as fruits, vegetables, and flowers, the Europe horticulture lighting market offers immense opportunities for manufacturers and suppliers of lighting technologies and solutions.
According to Data Bridge Market Research, the Europe Horticulture Lighting Market valued at USD 3,614.21 million in 2022, will reach USD 14,632.12 million by 2030, growing at a CAGR of 19.1% during the forecast period of 2023 to 2030.
“Growing initiatives drive the market”
Growing initiatives promoting sustainable agriculture and indoor farming practices are significant drivers for the horticulture lighting market. Governments, organizations, and individuals worldwide increasingly recognize the importance of efficient and sustainable cultivation methods to meet the rising demand for food and plants. These initiatives include incentives, grants, and subsidies that encourage growers to adopt horticulture lighting solutions for year-round crop production. The surge in market demand is fueled by the need to optimize plant growth, enhance crop quality, and maximize yields, aligning with sustainable agriculture and food security goals.
What restraints the growth of Europe horticulture lighting market?
“The high cost associated with horticulture lighting”
The high cost associated with horticulture lighting can act as a significant restraint for the market. Horticulture lighting systems, including LED fixtures and associated equipment, can involve substantial upfront investment. The cost of purchasing, installing, and maintaining these systems, along with the expenses related to electricity consumption, can deter potential buyers, particularly smaller-scale growers or those with limited budgets. The high cost of horticulture lighting can create barriers to entry and limit market expansion, despite the potential benefits in terms of crop yield and quality. Lowering costs through technological advancements and economies of scale is crucial to overcome this restraint.
Segmentation: Europe Horticulture Lighting Market
The Europe horticulture lighting market is segmented on the basis of offerings, technology, lighting type, cultivation, installation type, and application.
- On the basis of offering, the Europe horticulture lighting market is segmented into hardware, software, and services.
- On the basis of technology, the Europe horticulture lighting market is segmented into fluorescent lamps, high intensity discharge lights, LED lights, and other.
- On the basis of lighting type, the Europe horticulture lighting market is segmented into top lighting, inter lighting, photoperiodic lighting, supplemental lighting, sole-source lighting.
- On the basis of cultivation, the Europe horticulture lighting market is segmented into fruits and vegetables, floriculture, and cannabis.
- On the basis of installation type, the Europe horticulture lighting market is segmented into turnkey, new installations, retrofit installations.
- On the basis of application, the Europe horticulture lighting market is segmented into greenhouses, vertical farming, indoor farming, city farming, and others.
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Recent Developments in Europe Horticulture Lighting Market
- In 2022, GE Current underwent a name change following its acquisition of Hubbell Lighting, expanding its product line and distribution capabilities. The company, now known as Current, introduced Arize horticultural lighting, which will be marketed under the Current brand. The purchase of Hubbell aids in overcoming supply chain challenges and meeting the rising global demand for lighting solutions.
- In 2022, Signify and Perfect Plants collaborated on cannabis cultivation. An efficient and effective light system for the entire growth cycle is available with new climate cells, the Philips GrowWise Control System, and dimmable Philips GreenPower LED toplighting compact grow lights. Signify's expertise and adaptable GreenPower LED systems complement Perfect Plants' investment in research and production facilities for legal cannabis cultivation.
- In 2022, AMS OSRAM GmbH introduced the OSLON Optimal family of LEDs for horticulture lighting. With dependable performance, high efficiency, and value, the 1mm2 chip-based LEDs offer shades of Hyper Red and Far Red, with Deep Blue and Horti White versions coming soon. The OSLON Optimal LEDs enable fixture manufacturers to meet the spectral needs of various horticulture applications.
- In 2022, Acuity Brands launched Verjure, a professional-grade horticulture LED lighting solution. The Verjure Pro Series LED luminaires, developed through plant-based research, support all plant development phases. Available in three sizes and outputs for different environments, including indoor warehouse, greenhouse, and vertical racks, the IP66-rated Verjure Pro Series luminaires offer reliable performance with surge protection.
The Prominent Key Players Operating in the Europe Horticulture Lighting Market Include:
- Heliospectra AB (Sweden)
- excite LED Grow Lights (Switzerland)
- UPSHINE Lighting (China)
- TESLUX Lighting s.r.o. (Czechia)
- Hortisystems UK Ltd (U.K.)
- Ronfell Group (U.K.)
- General Electric (U.S.)
- Agrolux (Netherlands)
- Samsung (South Korea)
- Hortilux Schréder (Netherlands)
- ams-OSRAM International GmbH.(Germany)
- Signify Holding (Netherlands)
- Forge Europa (U.K.)
- TE Connectivity (Switzerland)
- Cree LED (U.S.)
- Valoya (Finland)
- EVERLIGHT ELECTRONICS CO., LTD. (Taiwan)
- Gavita (Netherlands)
Above are the key players covered in the report, to know about more and exhaustive list of Europe horticulture lighting market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Europe Horticulture Lighting Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
