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Global Horticulture Lighting Market to reach USD 23.43 billion by the end of 2030.

Global Horticulture Lighting Market Size study & Forecast, by Type (Top lighting and Interlighting), by Technology (Fluorescent, High-Pressure Sodium, Metal Halide, LED, and Others) by Application (Indoor Farming, Greenhouse, Vertical Farming, and Others), and Regional Analysis, 2023-2030

Product Code: OIRAL-34687135
Publish Date: 20-07-2023
Page: 200

Global Horticulture Lighting Market is valued approximately USD 6.19 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 18.1% over the forecast period 2023-2030. Horticulture Lighting is the use of artificial light sources, such as LEDs, to provide specific wavelengths and intensities of light for promoting plant growth, development, and productivity in controlled environments like greenhouses or indoor farms. It allows growers to optimize plant photosynthesis and manipulate various physiological processes for better crop quality and yield.
The Horticulture Lighting market is set to experience substantial growth driven by the rising demand for advanced lighting technologies. These lights are increasingly being utilized for the cultivation of fruits, vegetables, and flowers, thereby fueling market expansion. Furthermore, the growing adoption of Horticulture Lighting systems in vertical farming applications is prompting manufacturers to establish efficient operations, contributing to the overall market growth.

Moreover, the vertical farming is a farming technique that involves growing crops in vertically stacked layers or structures, typically indoors or in controlled environments. This approach utilizes artificial lighting, such as horticulture lighting, to provide the necessary light spectrum and intensity for plant growth. The growing popularity of vertical farming is indeed supporting the growth of the horticulture lighting market. According to Statista, in 2022, the global vertical farming was valued USD 5.6 billion and it is anticipated to reach USD 23.7 billion by 2030. As a result, the growing vertical farming is anticipated to create the lucrative demand for the market. Additionally, incorporation of advanced technologies in horticulture and increase in awareness regarding vertical and indoor farming is anticipated to provide lucrative opportunities for the growth of the Horticulture Lighting market. However, the high cost of Horticulture Lighting stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Horticulture Lighting Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the rising initial adoption of advanced process analytics technology throughout enterprises. Key businesses in nations such as the United States and Canada are providing solutions for rapid and effective operations based on fundamental technologies such as the cloud. North America is expected to grow significantly during the forecast period, owing to growing demand for analytic solutions and services in the healthcare and manufacturing industries. Furthermore, due to the presence of major companies in countries such as Germany, the United Kingdom, France, and others, the area is one of the leading contributors of process analytics revenue.

Major market player included in this report are:
Maxigrow Ltd.
Eye Hortilux
Lumileds Holding B.V
Hortilux Schreder B.V
Heliospectra AB (publ)
Agrolux B.V.
Hubbell Incorporated
Illumitex, Inc
GE Lighting
Gavita Holland B.V
Recent Developments in the Market:
Ø In March 2022, Acuity Brands unveiled Verjure, a professional-grade horticulture LED lighting solution tailored for indoor horticulture applications. The Verjure Pro Series LED luminaires, developed based on plant-focused research, offer consistent and productive performance throughout all plant growth stages, from vegetative to flowering. The series comes in three sizes and outputs, providing versatility for various growing environments such as indoor warehouses, greenhouses, and vertical racks. With an IP66 rating for waterproofing and robust 6kV surge protection, the Verjure Pro Series LED luminaires ensure durability and reliability.

Global Horticulture Lighting Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Type, Technology, Application, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:
Top lighting
By Technology:
High-Pressure Sodium
Metal Halide
By Application:
Indoor Farming
Vertical Farming
By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Horticulture Lighting Market, by Region, 2020-2030 (USD Billion)
1.2.2. Horticulture Lighting Market, by Type, 2020-2030 (USD Billion)
1.2.3. Horticulture Lighting Market, by Technology, 2020-2030 (USD Billion)
1.2.4. Horticulture Lighting Market, by Application, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Horticulture Lighting Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Horticulture Lighting Market Dynamics
3.1. Horticulture Lighting Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Increasing LED market Growing advanced lighting technologies
3.1.2. Market Challenges High Cost of Horticulture lighting Lack of awareness
3.1.3. Market Opportunities Advancements in Technology Awareness regarding vertical and indoor farming
Chapter 4. Global Horticulture Lighting Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Horticulture Lighting Market, by Type
5.1. Market Snapshot
5.2. Global Horticulture Lighting Market by Type, Performance – Potential Analysis
5.3. Global Horticulture Lighting Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
5.4. Horticulture Lighting Market, Sub Segment Analysis
5.4.1. Top lighting
5.4.2. Interlighting
Chapter 6. Global Horticulture Lighting Market, by Technology
6.1. Market Snapshot
6.2. Global Horticulture Lighting Market by Technology, Performance – Potential Analysis
6.3. Global Horticulture Lighting Market Estimates & Forecasts by Technology 2020-2030 (USD Billion)
6.4. Horticulture Lighting Market, Sub Segment Analysis
6.4.1. Fluorescent
6.4.2. High-Pressure Sodium
6.4.3. Metal Halide
6.4.4. LED
6.4.5. Others
Chapter 7. Global Horticulture Lighting Market, by Application
7.1. Market Snapshot
7.2. Global Horticulture Lighting Market by Application, Performance – Potential Analysis
7.3. Global Horticulture Lighting Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
7.4. Horticulture Lighting Market, Sub Segment Analysis
7.4.1. Indoor Farming
7.4.2. Greenhouse
7.4.3. Vertical Farming
7.4.4. Others
Chapter 8. Global Horticulture Lighting Market, Regional Analysis
8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Horticulture Lighting Market, Regional Market Snapshot
8.4. North America Horticulture Lighting Market
8.4.1. U.S. Horticulture Lighting Market Type breakdown estimates & forecasts, 2020-2030 Technology breakdown estimates & forecasts, 2020-2030 Application breakdown estimates & forecasts, 2020-2030
8.4.2. Canada Horticulture Lighting Market
8.5. Europe Horticulture Lighting Market Snapshot
8.5.1. U.K. Horticulture Lighting Market
8.5.2. Germany Horticulture Lighting Market
8.5.3. France Horticulture Lighting Market
8.5.4. Spain Horticulture Lighting Market
8.5.5. Italy Horticulture Lighting Market
8.5.6. Rest of Europe Horticulture Lighting Market
8.6. Asia-Pacific Horticulture Lighting Market Snapshot
8.6.1. China Horticulture Lighting Market
8.6.2. India Horticulture Lighting Market
8.6.3. Japan Horticulture Lighting Market
8.6.4. Australia Horticulture Lighting Market
8.6.5. South Korea Horticulture Lighting Market
8.6.6. Rest of Asia Pacific Horticulture Lighting Market
8.7. Latin America Horticulture Lighting Market Snapshot
8.7.1. Brazil Horticulture Lighting Market
8.7.2. Mexico Horticulture Lighting Market
8.8. Middle East & Africa Horticulture Lighting Market
8.8.1. Saudi Arabia Horticulture Lighting Market
8.8.2. South Africa Horticulture Lighting Market
8.8.3. Rest of Middle East & Africa Horticulture Lighting Market

Chapter 9. Competitive Intelligence
9.1. Key Company SWOT Analysis
9.1.1. Company 1
9.1.2. Company 2
9.1.3. Company 3
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. Maxigrow Ltd. Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.3.2. Eye Hortilux
9.3.3. Lumileds Holding B.V
9.3.4. Hortilux Schreder B.V
9.3.5. Heliospectra AB (publ)
9.3.6. Agrolux B.V.
9.3.7. Hubbell Incorporated
9.3.8. Illumitex Inc
9.3.9. GE Lighting
9.3.10. Gavita Holland B.V
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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