The Horticulture Lighting Market – Growth, Trends, and Forecasts (2020 – 2025), offers an in-depth evaluation of each crucial aspect of the Global Horticulture Lighting industry that relates to market size, share, revenue, demand, sales volume, and development in the market. The report analyzes the Horticulture Lighting market over the values, historical pricing structure, and volume trends that make it easy to predict growth momentum and precisely estimate forthcoming opportunities in the Horticulture Lighting Market. The report explores the current outlook in global and key regions (North America, Europe, Asia-Pacific, and Latin America) from the perspective of players, countries (U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, Taiwan, Southeast Asia, Mexico, and Brazil, etc.), product types, and end industries.
The Horticulture Lighting market is expected to record a CAGR of 22.7% over the forecast period (2020 – 2025).
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Global Major Players in Horticulture Lighting Market are:
OSRAM Opto Semiconductors GmbH (OSRAM GmbH), Samsung Electronics Co. Ltd., Illumitex Inc., Heliospectra AB, Hubbell Inc., Cree Inc., Signify Holding (Koninklijke Philips N.V.), Lumileds Holding B.V., Gavita International B.V., LEDiL Oy, and Other.
Key Market Trends:
LEDs are Expected to Hold a Significant Share
– The LED technology is gaining popularity in the horticultural sector, mainly due to NASA, which continues to conduct plant-growth experiments under LED lighting. It shows immense potential as horticultural lighting fixtures because of low energy consumption, cool operation and the capability to customize the spectral output to emit the specific wavelengths usable by plants.
– These lights are also more cost-efficient than other artificial light sources. LEDs do not burn out like traditional light bulbs but experience minimum lumen depreciation over time. Though light bulbs are liable to fail on average after one year, LEDs can be operated for more than 50,000 hours (depending on the type of application). The increased lifetime ensures high reliability.
– LEDs can emit light in an efficient way that produces much less heat than other lighting fixtures. In most of the indoor farming, heat is considered waste and is removed by an air conditioner or fan, but LEDs can reduce the energy consumption associated with the removal of excess heat by not producing it in the first place.
Europe is Expected to Hold the Largest Share
– Europe accounted for a significant share in the horticulture lighting market and continues to grow with other European countries promoting plant factory and providing subsidies to spur the local demands. The European Union’s initiatives to encourage the adoption of LED technology are expected to create more opportunities for the providers of LED lights for the horticulture sector.
– Increasing awareness of benefits and rising demand for food owing to the rising population is expected to drive the adoption of vertical farms in the region. Researchers in the Netherlands are calculating the viability of vertical farming in urban areas. For instance, Staay Food Group built a vertical farm in the country that is using Philips GreenPower LED horticultural lighting.
– LED lighting providers in the region are also developing full range horticultural products and are broadening collaboration with different partners. For instance, in 2019, Osram Opto Semiconductors GmbH launched the Duris S5 purple, which combines key wavelengths of red and blue into a single purple LED that can make horticulture applications more cost-effective.
Influence of the Horticulture Lighting Market report:
–Comprehensive assessment of all opportunities and risks in the Horticulture Lighting Market.
–Horticulture Lighting Market recent innovations and major events.
–A detailed study of business strategies for the growth of the Horticulture Lighting Market market-leading players.
–Conclusive study about the growth plot of Horticulture Lighting Market for forthcoming years.
–In-depth understanding of Horticulture Lighting Market, market-particular drivers, constraints, and major micro markets.
–Favorable impression inside vital technological and market latest trends striking the Horticulture Lighting Market.
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What are the market factors that are explained in the report?
-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
-Analytical Tools: The Global Horticulture Lighting Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
The research includes historic data from 2015 to 2020 and forecasts until 2025 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.
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