Global Horticulture Lighting Market (2021-2026) by Application Type, Offering Type, Technology Type, Lighting Type, Cultivation Type, Installation Type, Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis

The Global Horticulture Lighting Market is estimated to be USD 2.9 Bn in 2021 and is expected to reach USD 5.14 Bn by 2026, growing at a CAGR of 12.12%.

Market Dynamics

The key factors driving the Global Horticulture Lighting Market due to growing population with high demand for fresh produce of agricultural products, increasing government initiatives and support for Controlled Environment Agriculture (CEA) practices and adoption of SSL technology, and growing funding for vertical farms, greenhouses, and cannabis cultivation are driving the growth of the market. Additionally, the rising use of automation, deployment of LED fixtures, and energy-efficient lighting fixtures for plant growth and to minimize energy costs are fuelling the market's growth. On the other hand, the high price associated with LED grow lights, system setup, installation and maintenance, and complexities in the requirement for varied light spectra for different crops restrict the market's growth.

Risingsing trends of farm-to-table concepts because of growing vertical farming in countries like Middle Eastern and Asia. The emergence of horticulture calculators and software will create potential opportunities for the market to grow in the forecasted periFurthermore, increasing crop production throughout the year includes indoor and outdoor displays. Moreover, there is a lack of skilled expertise in handling and deploying CEA technology in large-sized fields. The lack of standards related to product testing and quality and complexities in integrating and deploying Controlled Environment Agriculture (CEA) technology is the major challenge that may affect the market’s growth shortly.

Market Segmentation

• The Global Horticulture Lighting Market is segmented further based on Application Type, Offering Type, Technology Type, Lighting Type, Cultivation Type, Installation Type, and Geography.
• By Application Type, the market is classified into Greenhouses, Indoor Farms, Vertical Farms, and others.
• By Offering Type, the Horticulture Lighting market is classified into Hardware, Software, and Services.
• By Technology Type, the Horticulture Lighting market is classified into Fluorescent, High-Intensity Discharge (HID), High-Pressure Sodium Lamp, LED, and others.
• By Lighting Type, the Horticulture Lighting market is classified into Top-Lighting and Inter-Lighting.
• By Cultivation Type, the Horticulture Lighting market is classified into Cannabis, Fruits and Vegetables, and Floriculture.
• By Installation Type, the Horticulture Lighting market is classified into New Installations and Retrofit Installations.
• By Geography, Europe is projected to lead the market.

Recent Developments

1. Hortilux Schreder launched the HORTILED® series, i.e., Intense and Sirius that are developed and produced entirely in-house by delivering the best performance- May 17, 2021
2. Heliospectra AB partnership with Harahara, Inc to represent its LED lighting & controlled environments agriculture and PFALs market-May 12, 2021
3. LumiGrow released TopLight Hybrid smart fixture that takes strategies of HPS and metal-halide to improve the grower’s productivity without the high energy bill- August 19, 2019

Company Profiles

Some of the companies covered in this report are California Lightworks, EYE Hortilux, Gavita International B.V., Heliospectra AB, Hortilux Schreder, ILUMINAR Lighting, LumiGrow, OSRAM Licht AG, Signify Holding B.V, Valoya, etc.

Countries Studied

• America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
• Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
• Middle-East and Africa (Egypt, Israel, Qatar, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
• Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Horticulture Lighting Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter’s 5 forces model and the Ansoff Matrix. In addition, the impact of Covid-19 on the market is also featured in the report.
• The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report also contains the competitive analysis using Positioning Quadrants, the analyst's competitive positioning tool.

Report Highlights:

• A complete analysis of the market, including parent industry
• Important market dynamics and trends
• Market segmentation
• Historical, current, and projected size of the market based on value and volume
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market