Horticulture Lighting Market by Type (Top lighting, Interlighting), by Lighting Technology (Fluorescent, High-Pressure Sodium, Metal Halide, LED, Others), by Application (Indoor Farming, Greenhouse, Vertical Farming, Others), by North America (U.S., Canada, Mexico), by South America (Brazil, Argentina, Rest of South America), by Europe (U.K., Germany, France, Italy, Spain, Russia, Benelux, Nordics, Rest of Europe), by Middle East & Africa (Turkey, Israel, GCC, South Africa, North Africa, Rest of the Middle East & Africa), by Asia Pacific (China, Japan, India, South Korea, ASEAN, Oceania, Rest of Asia Pacific) Forecast 2024-2032
The Horticulture Lighting Marketsize was valued at USD 5.41 USD billion in 2023 and is projected to reach USD 13.96 USD billion by 2032, exhibiting a CAGR of 14.5 % during the forecast period. Horticulture lighting may be defined as the artificial lighting on plants for controlled plant growth requirements. It contains high-intensity discharge (HID) lights, light-emitting diodes, and fluorescent lights. HID lights such as metal halide and high-pressure sodium lamps provide a high intensity, but they’re high wattage. LED is more efficient, adjustable, and has an extended life cycle light source serving the purpose of offering particular light wavelengths. Incandescent lightings are cheap and ideal for small businesses. Each type of LED has certain characteristics e.g. LED with spectrum control and other High Intensity Discharge lamps which cover large areas. Horticulture lighting is essential in indoor farming, and greenhouses as well as in research in enhancing plant growth and production all year round.
Horticulture Lighting Trends
The comprehensive market report offers in-depth insights into the horticulture lighting market, covering:
The global horticulture lighting market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America and Europe currently dominate the market, while Asia-Pacific is expected to witness significant growth due to increasing urbanization and food demand.
Aspects | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 14.5% from 2018-2032 |
Segmentation |
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Aspects | Details |
---|---|
Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 14.5% from 2018-2032 |
Segmentation |
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Note* : In applicable scenarios
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