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Horticulture Lighting Market by Installation Type (New Installations, Retrofit Installations), Lighting Type (Toplighting, Interlighting), Offering (Hardware, Software & Service), Cultivation Type, Technology, Application, Region - Global Forecast to 2028

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    Report

  • 257 Pages
  • August 2023
  • Region: Global
  • Markets and Markets
  • ID: 5205798

Optimization of Space for Agricultural Practices Amidst Arable Land Scarcity

The horticulture lighting market is expected to reach USD 10.4 billion by 2028 from USD 3.7 billion in 2023, at a CAGR of 22.4% during the 2023-2028 period. Horticulture lighting technology has the ability to offer customizable light spectra, tailored to meet the specific requirements of diverse plant species and various growth stages. This level of precision and customization has transformed the way plants are cultivated, as it allows growers to create an ideal light environment for each crop, leading to optimized plant growth and faster maturation processes. In traditional farming methods, plants rely solely on natural sunlight, which may not always provide the ideal spectrum of light for optimal growth. Horticulture lighting addresses this limitation by utilizing light-emitting diodes (LEDs) that can produce light across a wide range of wavelengths. This flexibility allows growers to select and fine-tune the light spectrum best suited to the specific needs of their crops.

Different plant species have varying light requirements, and even within a single plant's life cycle, their lighting needs can change. For instance, young seedlings may require more blue light to promote strong root and shoot development, while mature plants may benefit from an increased amount of red light to support flowering and fruiting. With customizable light spectra, horticulture lighting systems can be adjusted to provide the appropriate light ratios for each growth stage, ensuring plants receive the exact wavelengths they need at each developmental phase.

By fine-tuning the light spectra, horticulture lighting promotes photosynthesis, the process by which plants convert light into energy for growth. Providing the right combination of colors ensures that photosynthesis occurs at its maximum efficiency, leading to improved biomass production and healthier, more vigorous plants. Moreover, with the ability to manipulate light spectra, growers can influence various plant characteristics, such as flavor, color, and nutritional content. For example, specific light spectra can enhance the production of certain compounds, like antioxidants or essential oils, which contribute to the taste and nutritional value of fruits, vegetables, and herbs.

The application of customizable light spectra is particularly valuable in indoor farming and controlled environment agriculture settings, where natural sunlight may be limited or inconsistent. By precisely tailoring the light conditions to match the exact requirements of the crops being cultivated, horticulture lighting ensures a consistent and predictable growth environment, resulting in better yields and crop quality.

LED is expected to grow at the highest CAGR during the forecast period.

Solid-state light sources like LEDs and OLEDs are modern lighting solutions, with LEDs often referred to as the fourth generation of artificial lighting. LEDs are semiconductors converting electricity to light through electron movement. Equipped with heat sinks and fans, LED grow lights emit minimal heat, allowing close placement to plants. They provide optimal light for plant growth, aiding photosynthesis and offering control over plant morphology through spectrum adjustments.

Advanced LED grow lights offer adjustable spectra, suited to plant growth stages. They surpass traditional lighting in efficiency, with up to 60% electro-optical conversion efficiency, outperforming HPS and fluorescent lamps. LED longevity is nearly 50,000 hours, consuming 50% less energy than fluorescent and 85% less than incandescent lights. Resistant to shocks and moisture, LEDs suit controlled environment agriculture (CEA) settings. Their efficiency, durability, and environmental compatibility make them a key choice in greenhouses and indoor farms.

Driven by eco-friendly goals, governments worldwide endorse LEDs for indoor plant growth, promoting solid-state lighting (SSL) technology. This boosts LED adoption in CEA facilities and enhances their potential in horticultural lighting. Ongoing research and development strive to make SSL systems more affordable.

Many companies have introduced LED, horticulture lighting products such as in December 2022, Signify Holding (Phillips Lighting) introduces 1,040-watt Philips HPS light fixture for a low-maintenance, hybrid light installation in combination with Philips GreenPower LED toplighting. And in March 2022, Signify Holding (Phillips Lighting) introduces Philips GreenPower LED gridlighting to steer uniform bud development and increase yield of top-shelf flowers. It provides optimal light intensity during each growth phase with rotary dimming.

Greenhouses in the horticulture lighting application segment is expected to have the heightest market share in the forecast period.

Greenhouses serve as sheltered environments to optimize crop growth and yield. They transcend geographic and climatic constraints, ensuring consistent conditions year-round. These structures harness natural sunlight and humidity to nurture a variety of plants, either soil-based or through hydroponics. Greenhouses offer water efficiency, uniform light distribution via LED grow lights, and controlled temperature and humidity. Smart greenhouses, enabled by sensors and automation, revolutionize agriculture. They tailor microclimates for plants. Hydroponic and non-hydroponic setups define greenhouse categories. Smart greenhouses, including LED technology, enhance crop production efficiency. 

Europe's shift away from older technologies boosts LED horticulture lighting.

Supplemental horticulture lights address limited daylight, propelling yield growth. LED lights outshine metal halide and high-pressure sodium lamps. Gotham Greens and OSRAM exemplify innovative greenhouse solutions. Automation reduces labor dependency and drives production efficiency.

Almeria, Spain, underscores greenhouse economic significance. The province dominates Spain's horticultural greenhouse landscape. Notably, AppHarvest secured $91 million to support its Kentucky facility, emphasizing sustainability. Agroinvest in Russia, with a vast greenhouse complex, contributes to local vegetable self-sufficiency. In 2021, AppHarvest secured USD 91 million from Equlibrium Capital for its Kentucky facility. Agroinvest in Russia operates a substantial greenhouse complex, aiding regional vegetable self-sufficiency.

During the forecast period, the Asia Pacific region is expected to grow at the highest CAGR.

In 2022, Asia Pacific held a ~ 26% share of the horticulture lighting market. This market segment includes China, Japan, Southeast Asia, Australia, and the Rest of Asia Pacific. Anticipated growth for Asia Pacific's horticulture lighting market is marked by a 26.4% CAGR from 2023 to 2028. This trajectory is driven by the region's burgeoning population, escalating food demand, and the adoption of advanced farming methods like Controlled Environment Agriculture (CEA) for year-round fresh produce. The pressure to enhance agricultural yields with limited resources and safeguard crops against unpredictable climate changes also bolsters horticulture lighting adoption in Asia Pacific.

In July 2021, Heliospectra AB, a world leader in intelligent lighting technology for vertical farming, announced a new seller partnership with MineARC Systems, a global leader in manufacturing and supplying controlled environments. The company will represent Heliospectra’s market-leading LED lighting and lighting control solutions in the Australian market.

The break-up of the profile of primary participants in the horticulture lighting market-

  • By Company Type: Tier 1 - 35%, Tier 2 - 45%, Tier 3 - 20%
  • By Designation Type: C Level - 40%, Director Level - 35%, Others - 25%
  • By Region Type: North America- 40%, Asia Pacific - 30%, Europe - 20%, RoW - 10%

The major players in the horticulture lighting market with a significant global presence include Signify Holding (Phillips Lighting) (Netherlands), Gavita International B.V.(Netherlands), Heliospectra(Sweden), ams-OSRAM International GmbH(Austria), California LightWorks(US), Valoya (Finland), Hortilux Schréder(Netherlands), ILUMINAR Lighting(US), Current Lighting Solutions, LLC.(US), GE Lighting (SAVANT TECHNOLOGIES LLC.)(US), ACUITY BRANDS, INC.(US), Lumileds Holding B.V.(Netherlands), Cree LED an SGH company(US), TCP Lighting(US), PARsource(US), EconoLux Industries Ltd.(China), Oreon (Netherlands), GlacialLight - Division of GlacialTech Inc.(Taiwan), Black Dog Horticulture Technologies & Consulting(US), ViparSpectra(US), Active Grow(US), Agnetix(US), Thrive Agritech(US), Bridgelux, Inc.(US), and Kroptek(UK).

Research Coverage

The report segments the horticulture lighting market and forecasts its size based and region. The report also provides a comprehensive review of drivers, restraints, opportunities, and challenges influencing market growth. The report also covers qualitative aspects in addition to the quantitative aspects of the market.

Reasons to buy the report:

The report will help the market leaders/new entrants in this market with information on the closest approximate revenues for the overall horticulture lighting market and related segments. This report will help stakeholders understand the competitive landscape and gain more insights to strengthen their position in the market and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, opportunities, and challenges.

The report provides insights on the following pointers:

  • Analysis of key drivers (Controlled environment agriculture (CEA) practices and the adoption of SSL technology receive robust backing from governments), restraints (High installation and setup cost), opportunities (Integration with sustainable architecture), and challenges (Limited regulations and standards) influencing the growth of the horticulture lighting market.
  • Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the horticulture lighting market
  • Market Development: Comprehensive information about lucrative markets - the report analyses the horticulture lighting market across varied regions.
  • Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the horticulture lighting market
  • Competitive Assessment: In-depth assessment of market shares, growth strategies, and product offerings of leading players like Signify Holding (Phillips Lighting) (Netherlands), Gavita International B.V.(Netherlands), Heliospectra(Sweden), ams-OSRAM International GmbH(Austria), and California LightWorks (US).
Frequently Asked Questions about the Global Horticulture Lighting Market

What is the estimated value of the Global Horticulture Lighting Market?

The Global Horticulture Lighting Market was estimated to be valued at $3.7 Billion in 2023.

What is the growth rate of the Global Horticulture Lighting Market?

The growth rate of the Global Horticulture Lighting Market is 22.4%, with an estimated value of $10.4 Billion by 2028.

What is the forecasted size of the Global Horticulture Lighting Market?

The Global Horticulture Lighting Market is estimated to be worth $10.4 Billion by 2028.

Who are the key companies in the Global Horticulture Lighting Market?

Key companies in the Global Horticulture Lighting Market include Active Grow, Acuity Brands, Inc., Agnetix, AMS, Osram International GmbH, Black Dog Horticulture Technologies & Consulting, Bridgelux, Inc., California Lightworks, Cree Led, an Sgh Company and Current Lighting Solutions, LLC..

Table of Contents

1 Introduction
1.1 Study Objectives
1.2 Market Definition
1.2.1 Inclusions and Exclusions
1.3 Study Scope
1.3.1 Markets Covered
Figure 1 Horticulture Lighting Market Segmentation
1.3.2 Geographical Scope
Figure 2 Horticulture Lighting Market: Geographical Scope
1.3.3 Years Considered
1.3.4 Currency Considered
1.4 Limitations
1.5 Stakeholders
1.6 Summary of Changes
1.6.1 Recession Impact

2 Research Methodology
2.1 Research Data
Figure 3 Horticulture Lighting Market: Research Design
2.1.1 Secondary Data
2.1.1.1 Key Data from Secondary Research
2.1.1.2 Key Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data from Primary Sources
2.1.2.2 Key Participants for Primary Interviews
2.1.2.3 Breakdown of Primaries
2.1.2.4 Key Industry Insights
2.1.3 Secondary and Primary Research
2.2 Market Size Estimation
Figure 4 Market Size Estimation Methodology: Revenue Generated by Key Horticulture Lighting Providers (Supply Side)
Figure 5 Market Size Estimation Methodology: Illustration of Revenue Estimation of Key Market Player (Supply Side)
2.2.1 Market Size Estimation Approach: Identification of Companies Offering Horticulture Lighting Equipment
Figure 6 Market Size Estimation Methodology: Bottom-Up Estimation, by Region (Demand Side)
2.2.2 Bottom-Up Approach
2.2.2.1 Approach to Derive Market Size Using Bottom-Up Analysis
Figure 7 Market Size Estimation Methodology: Bottom-Up Approach
2.2.3 Top-Down Approach
2.2.3.1 Approach to Derive Market Size Using Top-Down Analysis
Figure 8 Market Size Estimation Methodology: Top-Down Approach
2.3 Market Share Estimation
2.4 Data Triangulation
Figure 9 Data Triangulation
2.5 Risk Assessment
Table 1 Risk Factor Analysis
2.6 Approach to Analyze the Impact of Recession on the Horticulture Lighting Market
2.7 Research Assumptions
Figure 10 Assumptions
2.8 Research Limitations
Figure 11 Limitations

3 Executive Summary
3.1 Impact of Recession
Figure 12 Horticulture Lighting Market: Impact of Recession
Figure 13 Led Segment to Account for Largest Share of Horticulture Lighting Market in 2028
Figure 14 Greenhouses Segment to Account for Largest Share of Horticulture Lighting Market in 2028
Figure 15 Fruits and Vegetables Segment to Account for Largest Share of Horticulture Lighting Market in 2028
Figure 16 Horticulture Lighting Market in Asia-Pacific to Register Highest CAGR During Forecast Period

4 Premium Insights
4.1 Attractive Opportunities for Players in Horticulture Lighting Market
Figure 17 Growing Adoption of Controlled Environment Agricultural Practices in Urban Areas
4.2 Horticulture Lighting Market, by Offering
Figure 18 Hardware Segment to Account for Larger Share of Horticulture Lighting Market in 2028
4.3 Horticulture Lighting Market, by Installation Type
Figure 19 Retrofit Installations Segment to Record Higher CAGR During Forecast Period
4.4 Horticulture Lighting Market, by Lighting Type
Figure 20 Toplighting Segment to Account for Larger Share of Horticulture Lighting Market in 2028
4.5 Horticulture Lighting Market, by Country
Figure 21 Southeast Asia to Record Highest CAGR from 2023 to 2028

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
Figure 22 Horticulture Lighting Market: Drivers, Restraints, Opportunities, and Challenges
5.2.1 Drivers
5.2.1.1 Growing Adoption of Sustainable Year-Round Crop Production Practices
5.2.1.2 Optimization of Plant Growth Using Customizable Light Spectra
5.2.1.3 Government-Led Initiatives to Promote Controlled Environment Agriculture (Cea) Practices
5.2.1.4 Optimization of Space for Agricultural Practices Amidst Arable Land Scarcity
5.2.1.5 Rising Investments in Modern Agricultural Techniques
5.2.1.6 Widespread Adoption of Led Fixtures as Reliable Lighting Source
5.2.1.7 Adoption of Artificial Lighting to Enhance Energy Efficiency
Figure 23 Horticulture Lighting Market: Drivers and Their Impact
5.2.2 Restraints
5.2.2.1 High Installation and Setup Costs
5.2.2.2 Navigation of Complex Light Spectrum for Crop Cultivation
5.2.2.3 High Energy Consumption
Figure 24 Horticulture Lighting Market: Restraints and Their Impact
5.2.3 Opportunities
5.2.3.1 Emerging Trend of Farm-To-Table Concept
5.2.3.2 Growing Prospects for Vertical Farming in Asian and Middle Eastern Markets
5.2.3.3 Availability of Weather-Resilient Solutions for Crop Production
5.2.3.4 Prominence of Horticulture Lighting Software and Calculators
5.2.3.5 Expansion of Home Gardening Market
5.2.3.6 Integration of Sustainable Architecture
Figure 25 Horticulture Lighting Market: Opportunities and Their Impact
5.2.4 Challenges
5.2.4.1 Limited Regulations and Standards
5.2.4.2 Shortage of Large-Scale Technical Expertise
5.2.4.3 Need for Standardized Testing for Product Quality Assessment
5.2.4.4 Complexities Associated with Integration of Components and Technologies into Advanced Agriculture Facilities
Figure 26 Horticulture Lighting Market: Challenges and Their Impact
5.3 Value Chain Analysis
Figure 27 Horticulture Lighting Market: Value Chain Analysis
5.3.1 Research and Development
5.3.2 Product Manufacturers
5.3.3 System Integrators
5.3.4 Marketing and Sales
5.3.5 End-User Industries
5.4 Trends/Disruptions Impacting Customers’ Businesses
Figure 28 Revenue Shift and New Revenue Pockets for Players in Horticulture Lighting Market
5.5 Ecosystem Analysis
Table 2 Companies and Their Role in Horticulture Lighting Ecosystem
Figure 29 Horticulture Lighting Market: Ecosystem Analysis
5.6 Technology Analysis
5.6.1 Solid-State Lighting Technology
5.6.2 Full-Spectrum Led Grow Lighting System
5.6.3 Centralized Power Supply
5.6.4 Advanced Uv-Led Technology
5.6.5 Smart Lighting Solutions
5.6.6 Lighting Systems with Internet of Things (IoT)
5.7 Porter's Five Forces Analysis
Figure 30 Impact Analysis of Porter's Five Forces
Table 3 Horticulture Lighting Market: Porter's Five Forces Analysis
5.7.1 Intensity of Competitive Rivalry
5.7.2 Threat of New Entrants
5.7.3 Threat of Substitutes
5.7.4 Bargaining Power of Buyers
5.7.5 Bargaining Power of Suppliers
5.8 Patent Analysis
5.8.1 Document Type
Table 4 Patents Filed
Figure 31 Patents Filed, 2013-2022
5.8.2 Publication Trend
Figure 32 Number of Patents Published, 2013-2022
5.8.3 Jurisdiction Analysis
Figure 33 Jurisdiction Analysis
5.8.4 Top Patent Owners
Figure 34 Top 10 Companies with Highest Number of Published Patent Applications, 2013-2022
Table 5 Top 20 Published Patent Owners in Last 10 Years
5.9 Trade Analysis
Figure 35 Country-Wise Export Data for Products Under Hs Code 9405, 2018-2022 (USD Thousand)
Table 6 Export Scenario for Hs Code: 9405-Compliant Products, by Country, 2018-2022 (USD Thousand)
Figure 36 Country-Wise Import Data for Products Under Hs Code 9405, 2018-2022 (USD Thousand)
Table 7 Import Scenario for Hs Code: 9405-Compliant Products, by Country, 2018-2022 (USD Thousand)
5.10 Pricing Analysis
5.10.1 Average Selling Price (ASP) of Products Offered by Two Key Players, by Technology
Table 8 Average Selling Price (ASP) of Products Offered by Top Two Players, by Technology (USD)
5.10.2 Average Selling Price (ASP) Trend for Fluorescent, High-Intensity Discharge (Hid), and Light-Emitting Diode (Led), 2019-2028
5.11 Case Study Analysis
5.11.1 Topline Gerbera Achieved Remarkable Energy Savings and Enhanced Flower Quality Using Philips Horticulture Led Solutions
5.11.2 Signify Holding with Baiyi Yinong International Flower Port Helped China Revolutionize Rose Production
5.11.3 Heliospectra Provided Cutting-Edge Smart Led Light Solutions to North American Agtech to Transform Agricultural Landscape
5.11.4 Signify Holding Helped Goodleaf Community Farms Enhance Food Production Capabilities
5.12 Regulatory Landscape
Table 9 Horticulture Lighting Market: Regulatory Framework
5.12.1 Regional Regulatory Bodies, Government Agencies, and Other Organizations
Table 10 North America: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 11 Europe: List of Regulatory Bodies, Government Agencies, and Other Organizations
5.13 Key Conferences and Events, 2023-2024
5.14 Key Stakeholders and Buying Criteria
5.14.1 Key Stakeholders in the Buying Process
Figure 37 Influence of Stakeholders in the Buying Process for Top Three Applications
Table 12 Influence of Stakeholders in the Buying Process for Top Three Applications (%)
5.14.2 Key Buying Criteria
Table 13 Key Buying Criteria for Top Three Applications

6 Horticulture Lighting Market, by Installation Type
6.1 Introduction
Figure 38 Retrofit Installations Segment to Record Higher CAGR During Forecast Period
Table 14 Horticulture Lighting Market, by Installation Type, 2019-2022 (USD Million)
Table 15 Horticulture Lighting Market, by Installation Type, 2023-2028 (USD Million)
6.2 New Installations
6.2.1 Rising Adoption of Vertical Farming to Fuel Segmental Growth
Table 16 New Installations: Horticulture Lighting Market, by Region, 2019-2022 (USD Million)
Table 17 New Installations: Horticulture Lighting Market, by Region, 2023-2028 (USD Million)
6.3 Retrofit Installations
6.3.1 Increased Installation of Retrofitting Light Fixtures to Boost Market Growth
Table 18 Retrofit Installations: Horticulture Lighting Market, by Region, 2019-2022 (USD Million)
Table 19 Retrofit Installations: Horticulture Lighting Market, by Region, 2023-2028 (USD Million)

7 Horticulture Lighting Market, by Lighting Type
7.1 Introduction
Figure 39 Interlighting Segment to Register Higher CAGR During Forecast Period
Table 20 Horticulture Lighting Market, by Lighting Type, 2019-2022 (USD Million)
Table 21 Horticulture Lighting Market, by Lighting Type, 2023-2028 (USD Million)
7.2 Toplighting
7.2.1 Adoption of Toplighting in Controlled Environment Agriculture (Cea) Facilities to Boost Segmental Growth
Table 22 Toplighting: Horticulture Lighting Market, by Region, 2019-2022 (USD Million)
Table 23 Toplighting: Horticulture Lighting Market, by Region, 2023-2028 (USD Million)
7.3 Interlighting
7.3.1 Growing Demand for interlighting in Commercial Greenhouses to Drive Market
Table 24 Interlighting: Horticulture Lighting Market, by Region, 2019-2022 (USD Million)
Table 25 Interlighting: Horticulture Lighting Market, by Region, 2023-2028 (USD Million)

8 Horticulture Lighting Market, by Offering
8.1 Introduction
Figure 40 Software & Services Segment to Register Higher CAGR During Forecast Period
Table 26 Horticulture Lighting Market, by Offering, 2019-2022 (USD Million)
Table 27 Horticulture Lighting Market, by Offering, 2023-2028 (USD Million)
8.2 Hardware
8.2.1 Lighting Fixtures
8.2.1.1 Growing Need for Effective Commercial Operations to Boost Adoption
8.2.2 Lighting Controls
8.2.2.1 Adoption of Lighting Controls to Regulate Light Levels in Cea Facilities to Drive Market
Table 28 Hardware: Horticulture Lighting Market, by Region, 2019-2022 (USD Million)
Table 29 Hardware: Horticulture Lighting Market, by Region, 2023-2028 (USD Million)
Table 30 Horticulture Lighting Market, by Hardware Type, 2019-2022 (USD Million)
Table 31 Horticulture Lighting Market, by Hardware Type, 2023-2028 (USD Million)
8.3 Software and Services
8.3.1 Adoption of Horticulture Lighting Software and Services to Drive Segmental Growth
Table 32 Software & Services: Horticulture Lighting Market, by Region, 2019-2022 (USD Million)
Table 33 Software & Services: Horticulture Lighting Market, by Region, 2023-2028 (USD Million)

9 Horticulture Lighting Market, by Cultivation Type
9.1 Introduction
Figure 41 Fruits and Vegetables Segment to Hold Largest Market Share in 2028
Table 34 Horticulture Lighting Market, by Cultivation Type, 2019-2022 (USD Million)
Table 35 Horticulture Lighting Marke, by Cultivation Type, 2023-2028 (USD Million)
9.2 Fruits and Vegetables
9.2.1 Increasing Demand for Organic Fruits and Vegetables to Boost Adoption of Horticulture Lighting in Vertical Farms and Greenhouses
Table 36 Fruits and Vegetables: Horticulture Lighting Market, by Region, 2019-2022 (USD Million)
Table 37 Fruits and Vegetables: Horticulture Lighting Market, by Region, 2023-2028 (USD Million)
9.3 Floriculture
9.3.1 Need to Facilitate Correct Light Ratio to Reduce Flowering Time and Increase Flower Production to Drive Demand
Table 38 Floriculture: Horticulture Lighting Market, by Region, 2019-2022 (USD Million)
Table 39 Floriculture: Horticulture Lighting Market, by Region, 2023-2028 (USD Million)
9.4 Cannabis
9.4.1 Adoption of Blue Lights to Ensure Effective Cannabis Plant Growth to Drive Market
Table 40 Cannabis: Horticulture Lighting Market, by Region, 2019-2022 (USD Million)
Table 41 Cannabis: Horticulture Lighting Market, by Region, 2023-2028 (USD Million)

10 Horticulture Lighting Market, by Technology
10.1 Introduction
Figure 42 Led Segment to Exhibit Highest CAGR from 2023 to 2028
Table 42 Horticulture Lighting Market, by Technology, 2019-2022 (USD Million)
Table 43 Horticulture Lighting Market, by Technology, 2023-2028 (USD Million)
Table 44 Horticulture Lighting Market, by Technology, 2019-2022 (Thousand Units)
Table 45 Horticulture Lighting Market, by Technology, 2023-2028 (Thousand Units)
10.2 Fluorescent
10.2.1 T5 Fluorescent Lights
10.2.1.1 Rising Need for Efficiency in Indoor Cultivation to Drive Demand for T5 Fluorescent Lights
10.2.2 Compact Fluorescent Lamp (CFL)
10.2.2.1 Increasing Adoption of Compact Fluorescent Lamps Attributed to Adaptability and Cost-Effectiveness to Drive Market
Table 46 Fluorescent: Horticulture Lighting Market, by Application, 2019-2022 (USD Million)
Table 47 Fluorescent: Horticulture Lighting Market, by Application, 2023-2028 (USD Million)
10.3 High-Intensity Discharge (Hid)
10.3.1 High-Pressure Sodium (Hps) Lamps
10.3.1.1 Rising Adoption of High-Pressure Sodium Lamps in Greenhouse Settings to Support Market Growth
10.3.2 Metal-Halide (Mh) Lamps
10.3.2.1 Adoption of Metal-Halide Lamps to Boost Initial Vegetative Stage of Plant Growth to Drive Market
10.3.3 Comparison Between HPS and Mh Horticulture Lamps
Table 48 Hid: Horticulture Lighting Market, by Application, 2019-2022 (USD Million)
Table 49 Hid: Horticulture Lighting Market, by Application, 2023-2028 (USD Million)
10.4 Light-Emitting Diode (Led)
10.4.1 Demand for Led Lights in Indoor Farming to Drive Segmental Growth
Table 50 Led: Horticulture Lighting Market, by Application, 2019-2022 (USD Million)
Table 51 Led: Horticulture Lighting Market, by Application, 2023-2028 (USD Million)
10.5 Others
Table 52 Others: Horticulture Lighting Market, by Application, 2019-2022 (USD Million)
Table 53 Others: Horticulture Lighting Market, by Application, 2023-2028 (USD Million)

11 Horticulture Lighting Market, by Application
11.1 Introduction
Figure 43 Vertical Farms Segment to Exhibit Highest CAGR from 2023 to 2028
Table 54 Horticulture Lighting Market, by Application, 2019-2022 (USD Million)
Table 55 Horticulture Lighting Market, by Application, 2023-2028 (USD Million)
11.2 Greenhouses
11.2.1 Utilization of Horticulture Lights in Greenhouses to Increase Crop Yield to Drive Market
Table 56 Greenhouses: Horticulture Lighting Market, by Technology, 2019-2022 (USD Million)
Table 57 Greenhouses: Horticulture Lighting Market, by Technology 2023-2028 (USD Million)
Table 58 Greenhouses: Horticulture Lighting Market, by Region, 2019-2022 (USD Million)
Table 59 Greenhouses: Horticulture Lighting Market, by Region, 2023-2028 (USD Million)
11.3 Vertical Farms
11.3.1 Increased Demand for Horticulture Lighting in Vertical Farms to Drive Segmental Growth
Table 60 Vertical Farms: Horticulture Lighting Market, by Technology, 2019-2022 (USD Million)
Table 61 Vertical Farms: Horticulture Lighting Market, by Technology, 2023-2028 (USD Million)
Table 62 Vertical Farms: Horticulture Lighting Market, by Region, 2019-2022 (USD Million)
Table 63 Vertical Farms: Horticulture Lighting Market, by Region, 2023-2028 (USD Million)
11.3.2 Recent Developments in Vertical Farming Market, by Region
Table 64 Developments in the North American Vertical Farming Market
Table 65 Developments in the European Vertical Farming Market
Table 66 Developments in Asia-Pacific Vertical Farming Market
Table 67 Developments in Row Vertical Farming Market
11.4 Indoor Farms
11.4.1 Increasing Focus on Infrastructure Development to Support Market Growth
Table 68 Indoor Farms: Horticulture Lighting Market, by Technology, 2019-2022 (USD Million)
Table 69 Indoor Farms: Horticulture Lighting Market, by Technology, 2023-2028 (USD Million)
Table 70 Indoor Farms: Horticulture Lighting Market, by Region, 2019-2022 (USD Million)
Table 71 Indoor Farms: Horticulture Lighting Market, by Region, 2023-2028 (USD Million)
11.5 Others
Table 72 Others: Horticulture Lighting Market, by Technology, 2019-2022 (USD Million)
Table 73 Others: Horticulture Lighting Market, by Technology, 2023-2028 (USD Million)
Table 74 Others: Horticulture Lighting Market, by Region, 2019-2022 (USD Million)
Table 75 Others: Horticulture Lighting Market, by Region, 2023-2028 (USD Million)

12 Horticulture Lighting Market, by Region
12.1 Introduction
Figure 44 Horticulture Lighting, by Region
Figure 45 Asia-Pacific to Record Highest CAGR in Horticulture Lighting Market During Forecast Period
Table 76 Horticulture Lighting Market, by Region, 2019-2022 (USD Million)
Table 77 Horticulture Lighting Market, by Region, 2023-2028 (USD Million)
12.2 North America
Figure 46 North America: Horticulture Lighting Market Snapshot
Table 78 North America: Horticulture Lighting Market, by Offering, 2019-2022 (USD Million)
Table 79 North America: Horticulture Lighting Market, by Offering, 2023-2028 (USD Million)
Table 80 North America: Horticulture Lighting Market, by Application, 2019-2022 (USD Million)
Table 81 North America: Horticulture Lighting Market, by Application, 2023-2028 (USD Million)
Table 82 North America: Horticulture Lighting Market, by Lighting Type, 2019-2022 (USD Million)
Table 83 North America: Horticulture Lighting Market, by Lighting Type, 2023-2028 (USD Million)
Table 84 North America: Horticulture Lighting Market, by Cultivation Type, 2019-2022 (USD Million)
Table 85 North America: Horticulture Lighting Market, by Cultivation Type, 2023-2028 (USD Million)
Table 86 North America: Horticulture Lighting Market, by Installation Type, 2019-2022 (USD Million)
Table 87 North America: Horticulture Lighting Market, by Installation Type, 2023-2028 (USD Million)
Table 88 North America: Horticulture Lighting Market, by Country, 2019-2022 (USD Million)
Table 89 North America: Horticulture Lighting Market, by Country, 2023-2028 (USD Million)
12.2.1 US
12.2.1.1 Increased Adoption of Vertical Farms and Greenhouses to Support Market Growth
12.2.2 Canada
12.2.2.1 Presence of Challenging Climatic Conditions to Increase Adoption of Horticulture Lighting
12.2.3 Mexico
12.2.3.1 Increasing Adoption of Controlled Agricultural Practices to Drive Market
12.2.4 Recession Impact on Horticulture Lighting Market in North America
12.3 Europe
Figure 47 Europe: Horticulture Lighting Market Snapshot
Table 90 Europe: Horticulture Lighting Market, by Offering, 2019-2022 (USD Million)
Table 91 Europe: Horticulture Lighting Market, by Offering, 2023-2028 (USD Million)
Table 92 Europe: Horticulture Lighting Market, by Application, 2019-2022 (USD Million)
Table 93 Europe: Horticulture Lighting Market, by Application, 2023-2028 (USD Million)
Table 94 Europe: Horticulture Lighting Market, by Lighting Type, 2019-2022 (USD Million)
Table 95 Europe: Horticulture Lighting Market, by Lighting Type, 2023-2028 (USD Million)
Table 96 Europe: Horticulture Lighting Market, by Cultivation Type, 2019-2022 (USD Million)
Table 97 Europe: Horticulture Lighting Market, by Cultivation Type, 2023-2028 (USD Million)
Table 98 Europe: Horticulture Lighting Market, by Installation Type, 2019-2022 (USD Million)
Table 99 Europe: Horticulture Lighting Market, by Installation Type, 2023-2028 (USD Million)
Table 100 Europe: Horticulture Lighting Market, by Country 2019-2022 (USD Million)
Table 101 Europe: Horticulture Lighting Market, by Country, 2023-2028 (USD Million)
12.3.1 UK
12.3.1.1 Emerging Vertical Farms and Greenhouses to Stimulate Market Growth
12.3.2 Germany
12.3.2.1 Adoption of Advanced Farming Techniques to Fuel Demand
12.3.3 Netherlands
12.3.3.1 Presence of Leading Horticulture Lighting Providers to Drive Market
12.3.4 Scandinavia
12.3.4.1 Rising Focus on Minimizing Fresh Fruit and Vegetable Imports to Increase Demand
12.3.5 Rest of Europe
12.3.6 Recession Impact on Horticulture Lighting Market in Europe
12.4 Asia-Pacific
Figure 48 Asia-Pacific: Horticulture Lighting Market Snapshot
Table 102 Asia-Pacific: Horticulture Lighting Market, by Offering, 2019-2022 (USD Million)
Table 103 Asia-Pacific: Horticulture Lighting Market, by Offering, 2023-2028 (USD Million)
Table 104 Asia-Pacific: Horticulture Lighting Market, by Application, 2019-2022 (USD Million)
Table 105 Asia-Pacific: Horticulture Lighting Market, by Application, 2023-2028 (USD Million)
Table 106 Asia-Pacific: Horticulture Lighting Market, by Lighting Type, 2019-2022 (USD Million)
Table 107 Asia-Pacific: Horticulture Lighting Market, by Lighting Type, 2023-2028 (USD Million)
Table 108 Asia-Pacific: Horticulture Lighting Market, by Cultivation Type, 2019-2022 (USD Million)
Table 109 Asia-Pacific: Horticulture Lighting Market, by Cultivation Type, 2023-2028 (USD Million)
Table 110 Asia-Pacific: Horticulture Lighting Market, by Installation Type, 2019-2022 (USD Million)
Table 111 Asia-Pacific: Horticulture Lighting Market, by Installation Type, 2023-2028 (USD Million)
Table 112 Asia-Pacific: Horticulture Lighting Market, by Country, 2019-2022 (USD Million)
Table 113 Asia-Pacific: Horticulture Lighting Market, by Country, 2023-2028 (USD Million)
12.4.1 China
12.4.1.1 Increasing Adoption of Controlled Environment Agriculture (Cea) Practices to Drive Market
12.4.2 Japan
12.4.2.1 Growing Adaption of Urban Agriculture to Support Market Growth
12.4.3 Southeast Asia
12.4.3.1 Government-Led Initiatives and Scarcity of Natural Resources to Drive Demand
12.4.4 Australia
12.4.4.1 Legalization of Cannabis Cultivation to Drive Demand
12.4.5 Rest of Asia-Pacific
12.4.6 Recession Impact on Horticulture Lighting Market in Asia-Pacific
12.5 Row
Figure 49 Row Horticulture Lighting Market, by Region
Table 114 RoW: Horticulture Lighting Market, by Offering, 2019-2022 (USD Million)
Table 115 RoW: Horticulture Lighting Market, by Offering, 2023-2028 (USD Million)
Table 116 RoW: Horticulture Lighting Market, by Application, 2019-2022 (USD Million)
Table 117 RoW: Horticulture Lighting Market, by Application, 2023-2028 (USD Million)
Table 118 RoW: Horticulture Lighting Market, by Lighting Type, 2019-2022 (USD Million)
Table 119 RoW: Horticulture Lighting Market, by Lighting Type, 2023-2028 (USD Million)
Table 120 RoW: Horticulture Lighting Market, by Cultivation Type, 2019-2022 (USD Million)
Table 121 RoW: Horticulture Lighting Market, by Cultivation Type, 2023-2028 (USD Million)
Table 122 RoW: Horticulture Lighting Market, by Installation Type, 2019-2022 (USD Million)
Table 123 RoW: Horticulture Lighting Market, by Installation Type, 2023-2028 (USD Million)
Table 124 RoW: Horticulture Lighting Market, by Region, 2019-2022 (USD Million)
Table 125 RoW: Horticulture Lighting Market, by Region, 2023-2028 (USD Million)
12.5.1 South America
12.5.1.1 Growing Installation of Vertical Farms by Startups to Support Market Growth
12.5.2 Middle East & Africa
12.5.2.1 Rising Focus on Sustainable Food Production to Boost Market Growth
12.5.3 Recession Impact on Horticulture Lighting Market in Row

13 Competitive Landscape
13.1 Overview
13.2 Key Strategies Adopted by Major Players
Figure 50 Horticulture Lighting Market: Key Strategies Adopted by Major Players, 2021-2023
13.3 Market Share and Ranking Analysis, 2022
Table 126 Horticulture Lighting Market: Degree of Competition
Figure 51 Market Share Analysis of Top Five Players, 2022
13.4 Company Revenue Analysis, 2018-2022
Figure 52 Revenue Analysis of Three Key Companies, 2018-2022
13.5 Company Evaluation Matrix, 2022
Figure 53 Horticulture Lighting Market (Global): Company Evaluation Matrix, 2022
13.5.1 Stars
13.5.2 Emerging Leaders
13.5.3 Pervasive Players
13.5.4 Participants
13.6 Competitive Benchmarking
Table 127 Company Footprint
Table 128 Application: Company Footprint
Table 129 Region: Company Footprint
13.7 Startups/Small and Medium-Sized Enterprises (SMEs) Evaluation Matrix, 2022
Figure 54 Horticulture Lighting (Global): Startups/SMEs Evaluation Matrix, 2022
13.7.1 Progressive Companies
13.7.2 Responsive Companies
13.7.3 Dynamic Companies
13.7.4 Starting Blocks
13.8 List of Key Startups/SMEs
Table 130 Horticulture Lighting Market: List of Key Startups/SMEs
13.9 Competitive Benchmarking of Key Startups/SMEs
Table 131 Horticulture Lighting Market: Competitive Benchmarking of Key Startups/SMEs
13.10 Competitive Scenarios and Trends
13.10.1 Product Launches
Table 132 Horticulture Lighting Market: Product Launches, 2020-2023
13.10.2 Deals
Table 133 Horticulture Lighting Market: Deals, 2020-2023

14 Company Profiles
14.1 Introduction
14.2 Key Players
(Business Overview, Products/Solutions/Services Offered, Recent Developments, Analyst's View)*
14.2.1 Signify Holding (Philips Lighting)
Table 134 Signify Holding (Phillips Lighting): Company Overview
Figure 55 Signify Holding (Phillips Lighting): Company Snapshot
Table 135 Signify Holding (Phillips Lighting): Products/Solutions/Services Offered
Table 136 Signify Holding (Phillips Lighting): Product Launches
Table 137 Signify Holding (Phillips Lighting): Deals
Table 138 Signify Holding (Phillips Lighting): Others
14.2.2 Gavita International B.V.
Table 139 Gavita International B.V.: Company Overview
Table 140 Gavita International B.V.: Products/Solutions/Services Offered
Table 141 Gavita International B.V.: Others
14.2.3 Heliospectra
Table 142 Heliospectra: Company Overview
Figure 56 Heliospectra: Company Snapshot
Table 143 Heliospectra: Products/Solutions/Services Offered
Table 144 Heliospectra: Product Launches
Table 145 Heliospectra: Deals
Table 146 Heliospectra: Others
14.2.4 Ams-Osram International GmbH
Table 147 Ams-Osram International GmbH: Company Overview
Figure 57 Ams-Osram International GmbH: Company Snapshot
Table 148 Ams-Osram International GmbH: Products/Solutions/Services Offered
Table 149 Ams-Osram International GmbH: Product Launches
Table 150 Ams-Osram International GmbH: Deals
Table 151 Ams-Osram International GmbH: Others
14.2.5 California Lightworks
Table 152 California Lightworks: Company Overview
Table 153 California Lightworks: Products/Solutions/Services Offered
Table 154 California Lightworks: Product Launches
14.2.6 Valoya
Table 155 Valoya: Company Overview
Table 156 Valoya: Products/Solutions/Services Offered
Table 157 Valoya: Product Launches
Table 158 Valoya: Deals
14.2.7 Hortilux Schréder
Table 159 Hortilux Schréder: Company Overview
Table 160 Hortilux Schréder: Products/Solutions/Services Offered
Table 161 Hortilux Schréder: Product Launches
Table 162 Hortilux Schréder: Deals
14.2.8 Iluminar Lighting
Table 163 Iluminar Lighting: Company Overview
Table 164 Iluminar Lighting: Products/Solutions/Services Offered
Table 165 Iluminar Lighting: Product Launches
14.2.9 Current Lighting Solutions, LLC.
Table 166 Current Lighting Solutions, LLC: Company Overview
Table 167 Current Lighting Solutions, LLC: Products/Solutions/Services Offered
Table 168 Current Lighting Solutions, LLC: Product Launches
Table 169 Current Lighting Solutions, LLC: Deals
14.2.10 GE Lighting (Savant Technologies LLC.)
Table 170 GE Lighting (Savant Technologies LLC.): Company Overview
Table 171 GE Lighting (Savant Technologies LLC.): Products/Solutions/Services Offered
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, and Analyst's View Might Not be Captured in the Case of Unlisted Companies.
14.3 Other Players
14.3.1 Acuity Brands, Inc.
14.3.2 Lumileds Holding B.V.
14.3.3 Cree Led, an Sgh Company
14.3.4 Tcp Lighting
14.3.5 Parsource
14.3.6 Econolux Industries Ltd.
14.3.7 Oreon
14.3.8 Glaciallight - Division of Glacialtech Inc.
14.3.9 Black Dog Horticulture Technologies & Consulting
14.3.10 Viparspectra
14.3.11 Active Grow
14.3.12 Agnetix
14.3.13 Thrive Agritech
14.3.14 Bridgelux, Inc.
14.3.15 Kroptek

15 Appendix
15.1 Insights from Industry Experts
15.2 Discussion Guide
15.3 Knowledgestore: The Subscription Portal
15.4 Customization Options

Executive Summary

Companies Mentioned

  • Active Grow
  • Acuity Brands, Inc.
  • Agnetix
  • AMS-Osram International GmbH
  • Black Dog Horticulture Technologies & Consulting
  • Bridgelux, Inc.
  • California Lightworks
  • Cree Led, an Sgh Company
  • Current Lighting Solutions, LLC.
  • Econolux Industries Ltd.
  • Gavita International B.V.
  • GE Lighting (Savant Technologies LLC.)
  • Glaciallight - Division of Glacialtech Inc.
  • Heliospectra
  • Hortilux Schréder
  • Iluminar Lighting
  • Kroptek
  • Lumileds Holding B.V.
  • Oreon
  • Parsource
  • Signify Holding (Philips Lighting)
  • TCP Lighting
  • Thrive Agritech
  • Valoya
  • Viparspectra