With A 18.1% CAGR, Horticulture Lighting Market Size Will Reach USD 19.87 billion by 2029

The global Horticulture Lighting Market size is forecasted to expand at a 18.1% CAGR during 2022-2029. Major investments by industry participants for novel product releases, as well as an increase in mergers and partnerships for expansion strategy, are expected to propel the market forward.

The global Horticulture Lighting Market value is estimated at USD 5.41 billion in 2021. During the period 2022 to 2029, the market is expected to grow at a CAGR of 18.1%, from USD 6.19 billion in 2022 to USD 19.87 billion by 2029.

According to Fortune Business Insights, major driving factor includes growing global population and increasing demand for food and agricultural products, horticulture lighting is becoming more important to increase crop yields and quality. Horticulture lighting provides a way for farmers to grow crops in controlled environments, regardless of weather conditions or seasonality.

Get a Free Sample Research PDF @ https://www.fortunebusinessinsights.com/enquiry/sample/horticulture-lighting-market-106903

Some the key players include:

• Bridgelux Inc. (U.S.)
• LumiGrow Inc. (U.S.)
• EYE Hortilux (U.S.)
• Maxigrow Ltd (U.K.)
• Signify Holding (Philips Lighting) (Netherlands)
• GE Lighting (U.S.)
• Hortilux Schreder (Netherlands)
• Osram Licht AG (Germany)
• Gavita International BV (Netherlands)
• Lumileds (U.S.)
• Hubbell Lighting (U.S.)

Factors affecting the growth of Horticulture Lighting Market:

• Increasing demand for locally grown and organic produce: There is a growing demand for locally grown and organic produce, which is driving the demand for horticulture lighting. Horticulture lighting enables farmers to grow crops year-round in controlled environments, which can increase the yield and quality of their crops.
• Technological advancements: Advances in LED technology and other lighting technologies are making horticulture lighting more efficient and cost-effective. This is reducing the upfront cost of horticulture lighting systems and making them more accessible to farmers.
• Government initiatives: Many governments around the world are investing in horticulture lighting as a way to increase food security and support local agriculture. This is driving the growth of the horticulture lighting market, as more farmers are adopting these technologies.
• Increasing awareness about the benefits of horticulture lighting: As more research is conducted on the benefits of horticulture lighting, more farmers are becoming aware of its potential to increase crop yields and improve crop quality. This is driving the adoption of horticulture lighting technologies.
• Increasing demand for medicinal plants: There is a growing demand for medicinal plants, which require specific lighting conditions to grow effectively. Horticulture lighting is enabling farmers to grow these plants year-round in controlled environments, which is driving the growth of the horticulture lighting market.
• Increasing demand for ornamental plants: The demand for ornamental plants is also driving the growth of the horticulture lighting market. Horticulture lighting enables farmers to grow these plants year-round and control their growth and development, which is increasing their popularity among consumers.

Key highlights of the Report:

• Market Performance (2022-2029)
• Market Outlook (2022-2029)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

The most recent Fortune Business Insights report identifies a key opportunity for market expansion over the forecast period. In this report, market opportunities are plotted using a detailed study of the current Horticulture Lighting Market scenario, mergers and acquisitions, investments in research and development, technological developments, novel marketing strategies, and buyers' behaviour. The key opportunities covered in the report will provide a better understanding of the global Market and its future growth.

Ask for customization: https://www.fortunebusinessinsights.com/enquiry/ask-for-customization/horticulture-lighting-market-106903

Which region holds the highest share in the market?

Europe dominated the market owing to the rising vertical and greenhouse farming in emerging countries such as Germany, Italy, France, and others.

Segments:

The primary market segments and their sub-segments covered in this study provide information on the overall business climate. The categories in this research are built by analyzing supply and demand scenario that provides a thorough view of the market. The segment study provides a detailed view of the fastest-growing market sector as well as the factors influencing the fast/slow growth of the other segments. This section includes a comprehensive market share and revenue analysis.

Segment by Type

• By Lightning Technology
• By Application
• By Region

The use of Horticulture Lighting Market can help investors to make more informed decisions, access a wider range of investment options, and achieve their financial goals more effectively. Additionally, the market for report is growing rapidly, driven by factors such as increasing wealth, the shift towards digital channels, and the growing demand for personalized financial advice. As a result, the market is expected to continue to grow in the coming years.

Table of Contents - Major Key Points

1) Horticulture Lighting Market Overview

• Market Segment by Type
• Global Market Segment by Application
• Global Market, Region Wise
• Scope of the Report

2) Industry Outlook

• Market Industry Technology Status and Trends
• Industry Entry Barriers
• Market Drivers Analysis
• Market Challenges Analysis
• Consumer Preference Analysis

3) Global Market Landscape by Player

• Market Competitive Situation and Trends
• Market Concentration Rate
• Market Share of Top 3 and Top 6 Players
• Mergers and Acquisitions, Expansion

4) Global Horticulture Lighting Market Sales Volume and Revenue Region Wise

• Global Market Sales Volume and Market Share, Region Wise (2022-2029)
• Global Market Revenue and Market Share, Region Wise (2022-2029)
• Global Market Sales Volume, Revenue, Price and Gross Margin

5) Global Market Sales Volume, Revenue, Price Trend by Type

6) Global Market Analysis by Application

7) Market Upstream and Downstream Analysis

• Market Industrial Chain Analysis
• Key Raw Materials Suppliers and Price Analysis
• Manufacturing Cost Structure Analysis

8) Key Players Profiles

• Recent Development
• Key Players Analysis

9) Research Findings and Conclusion

10) Appendix

11) Methodology

12) Research Data Source

Quick Buy: https://www.fortunebusinessinsights.com/checkout-page/106903

About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Contact Us:

Fortune Business Insights™ Pvt. Ltd.

US: +1 424 253 0390

UK: +44 2071 939123

APAC: +91 744 740 1245

Email:sales@fortunebusinessinsights.com

Press Release Distributed by The Express Wire

To view the original version on The Express Wire visit With A 18.1% CAGR, Horticulture Lighting Market Size Will Reach USD 19.87 billion by 2029