Horticulture LED Lighting Market

Global Horticulture LED Lighting Market Size, Trends & Analysis - Forecasts to 2027 By Technology (Fluorescent, HID, LED), By Application (Greenhouses, Vertical Farms, Indoor Farms), By Region (North America, Asia Pacific, Central & South America, Europe, and the Middle East & Africa), End-User Landscape Analysis, Company Market Share Analysis, and Competitor Analysis

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This report was recently updated on June 22 2022 with the latest and most recent market numbers

Global Horticulture LED Lighting Market Size

The Global Horticulture LED Lighting Market is projected to grow from USD 3.2 billion in 2022 to USD 10.8 billion in 2027 at a CAGR of 9.3% from 2022 to 2027.

The horticulture LED lighting market is expected to grow at a steady rate due to an increase in demand for controlled environment agriculture (CEA) practices and solid-state lighting technology. With people being more conscious of organic and healthy food, there is a massive increase in demand for vertical farms and the cultivation of food. Horticulture LED lighting helps in cultivating food more quickly and in less land. It is also beneficial for water consumption reduction and reduces capital intensity as cultivation can happen across many verticals.

The major driver in the horticulture LED lighting market is the increase in disposable income of developing countries. Many consumers are relying on homegrown fruits and vegetables. This increases demand for greenhouses vertical and indoor farms. Horticulture lighting is energy efficient and the energy consumption is less than regular farming. These advantages drive the market during the forecast period.

The major restraints in the global horticulture LED lighting market is the rise in prices of raw materials, high costs of LED horticulture lighting and maintaining these facilities, and inadequate land for cultivation and other horticulture applications.

global horticulture led lighting market

COVID-19 Impact on Global Horticulture LED Lighting Market

The COVID-19 pandemic impacted the global horticulture LED lighting market significantly. The global horticulture LED lighting market had hit a stagnant stage during the initial days of the pandemic. The immediate impact was on the supply chain analysis and it affected the consumers. There was a shortage of food and the prices of fruits and vegetables were increasing rapidly. The global horticulture sector also faced a shortage in the workforce as many workers went back to their hometowns due to lockdowns. But as regional lockdowns were lifted, the global horticulture LED lighting market saw substantial growth. The growing demand for the horticulture LED lighting market will boost the market's revenue between 2022 and 2027.

Ukraine-Russia War Impact on Horticulture LED Lighting Market

The war between Russia and Ukraine had a substantial impact on the global horticulture LED lighting market. Ukraine and Russia have faced production delays, a rise in transportation costs, and low sales due to the ongoing war. This also affects the other regions in Europe. Many countries trade with Russia and they are facing stockpiling and low demand due to increased prices. This has impacted the political relations within the international market. Many companies have shut down their business in Russia temporarily which has affected their other production plants as they have increased production due to the growing need to meet the gap in production.

Global Horticulture LED Lighting Market: By Technology

The fluorescent segment is expected to witness the largest share in the global horticulture LED lighting market during the forecast period of 2022-2027. This technology is extremely useful in draught-prone regions and hence used extensively in a few cities in India, the Middle East, etc. These advantages drive the market share during the forecast period.

The LED segment is expected to grow the fastest during 2022-2027. LED technology is extremely energy efficient. This helps in the high cultivation of crops and increases the demand for vegetables. Plant growth with LED technology uses low temperature which does not perish the crops quickly. They produce lights that are needed for cultivation. Different plants respond to different colors of LED lights.

Global Horticulture LED Lighting Market: By Application

The greenhouses segment is expected to witness the largest share in the global horticulture LED lighting market during the forecast period of 2022-2027. A greenhouse is specifically made for the cultivation of crops, fruits, and other edible foods. It is made up of transparent material, especially glass. Regular crops which do not need advanced care and planning with stable climatic conditions are grown in greenhouses. A greenhouse is necessary and acts as a temperature controller. Due to greenhouses, the plant growth is healthy and they do not perish.

The vertical farm segment is expected to grow the fastest during 2022-2027. Vertical farming is done using vertically stacked layers. It is beneficial in areas with unpredictable land and environmental growth. It is a more challenging form of farming. Vertical farms require less water and soil and due to this more crops can get harvested. It also requires less space which is important due to inadequate land in the urban areas. Hence, considering these advantages the vertical farm segment is expected to grow the fastest.

asia pacific horticulture led lighting market

Global Horticulture LED Lighting Market: By Region

The North America segment is expected to witness the largest share in the global horticulture LED lighting market during the forecast period of 2022-2027. Due to the increase in disposable income of consumers and the high demand of farm to table concepts, the North America segment will dominate the global horticulture LED lighting market.

An increase in the standard of living, demand for organic food, and awareness of energy efficiency drive the market in the United States. The horticulture industry in the United States has been substantially strong for a few years and due to the increasing demand for horticulture farming, it is estimated to grow further during the forecast period.

Asia-Pacific is expected to grow the fastest during 2022-2027. Few regions in Asia-Pacific contribute a large share to the agriculture sector. Even during the pandemic, the demand and supply ratio was stable in this region and the covid-19 impact was not severe. Due to the increasing demand for organic vegetables, and ayurvedic plants, the region is expected to have a high market share during the forecast period.

The markets in India, China, and South Korea are developing new technologies and are also expanding businesses, this increases their production capacity. Lighting technologies are developing rapidly which are also energy efficient and this increases the demand for food and vegetables. Hence, considering these advantages the global horticulture LED lighting market is expected to grow.

The Middle East and Africa account for a significant market share. There is substantial growth due to investments in research and development, increased industrial activities, and businesses that are expanding in the global economy. The competitive landscape helps in the growth rate of the global horticulture LED lighting market.

The market share in Europe is extremely beneficial for the global horticulture LED lighting market. Few countries in Europe have large spaces for cultivation and labs for research. As per the market research report done by GME, few companies use artificial lights which increases the demand for indoor farming. Hence, considering these advantages the global horticulture LED lighting market is estimated to grow during the forecast period.

Global Horticulture LED Lighting Market Share and Competitor Analysis

Signify Holding, Gavita, Valoya, Osram, LumiGrow Inc., Savat Company, Hubbell, Iluminar Lighting, and Agrolux, among others, are key players in the horticulture LED lighting market.

Please note: This is not an exhaustive list of companies profiled in the report.

The global horticulture LED lighting market has observed several strategic alliances between company profiles to launch new products with added functionalities and maintain revenue share & profitability. Organic and inorganic growth strategies adopted by small players have been the highlight of this market.

Global Horticulture LED Lighting Market Recent Development

  • In February 2022, California Networks launched a patented LED system for indoor farming
  • In December 2021, Signify and Osram ventured into a joint project for the horticulture lighting market
  • In June 2021, Signify partnered with Hortipar for greenlighting the horticulture sector

Chapter 1   Research Methodology

1.1    Research Assumptions

1.2    Research Methodology

1.2.1    Estimates and Forecast Timeline

1.3    Information Procurement

1.3.1    Purchased Database

1.3.2    GME’s Internal Database

1.3.3    Primary Research

1.3.4    Secondary Sources & Third-Party Perspectives

            1.3.4.1    Company Information Sources

            1.3.4.2    Secondary Data Sources

1.4    Information or Data Analysis

1.4.1    Data Analysis Models

1.5    Market Formulation & Data Visualization

1.6    Data Validation & Publishing

1.7    Market Model

1.7.1    Model Details

            1.7.1.1   Top-Down Approach

            1.7.1.2   Bottom-Up Approach

1.8    Market Segmentation & Scope

1.9    Market Definition

Chapter 2   Executive Summary

2.1    Global Market Outlook

2.2    Technology Type Outlook

2.3    Application Outlook

2.4    Regional Outlook

Chapter 3   Global Horticulture LED Lighting Market Trend Analysis

3.1.    Market Introduction

3.2     Penetration & Growth Prospect Mapping

3.3     Impact of COVID-19 on the Horticulture LED Lighting Market

3.4     Metric Data based on the industry

3.5     Market Dynamic Analysis

3.5.1   Market Driver Analysis

3.5.2   Market Restraint Analysis

3.5.3   Industry Challenges

3.5.4   Industry Opportunities

3.6     Porter’s Five Analysis

3.6.1   Supplier Power

3.6.2   Buyer Power

3.6.3   Substitution Threat

3.6.4   Threat from New Entrant

3.7     Market Entry Strategies

Chapter 4   Horticulture LED Lighting Market: By Application Trend Analysis

5.1   By Application: Historic Data vs. Forecast Data Analysis, 2021 vs. 2027

5.2    Greenhouses

5.2.1    Market Estimates & Forecast Analysis of Greenhouses, By Region, 2019-2027 (USD Billion)

5.3    Vertical Farms

5.3.1    Market Estimates & Forecast Analysis of Vertical Farms Market Segment, By Region, 2019-2027 (USD Billion)

5.4    Indoor Farms

5.4.1    Market Estimates & Forecast Analysis of Indoor Farms Segment, By Region, 2019-2027 (USD Billion)

Chapter 5   Horticulture LED Lighting Market: Technology Type Trend Analysis

6.1   Technology Type: Historic Data vs. Forecast Data Analysis, 2022 vs. 2027

6.2    Fluorescent

6.2.1    Market Estimates & Forecast Analysis of Fluorescent Segment, By Region, 2019-2027 (USD Billion)

6.3    HID

6.3.1    Market Estimates & Forecast Analysis of HID Segment, By Region, 2019-2027 (USD Billion)

6.4    LED

6.3.1    Market Estimates & Forecast Analysis of LED Segment, By Region, 2019-2027 (USD Billion)

Chapter 6   Horticulture LED Lighting Market, By Region

7.1    Regional Outlook

7.2    North America

7.2.1    Market Estimates & Forecast Analysis, By Country 2019-2027 (USD Billion)

7.2.2    Market Estimates & Forecast Analysis, By Application, 2019-2027 (USD Billion)

7.2.3    Market Estimates & Forecast Analysis, By Technology Type, 2019-2027 (USD Billion)

7.2.4    U.S.

7.2.4.1    Market Estimates & Forecast Analysis, By Application, 2019-2027 (USD Billion)

7.2.4.2    Market Estimates & Forecast Analysis, By Technology Type, 2019-2027 (USD Billion)

7.2.5    Canada

7.2.5.1    Market Estimates & Forecast Analysis, By Application, 2019-2027 (USD Billion)

7.2.5.2    Market Estimates & Forecast Analysis, By Technology Type, 2019-2027 (USD Billion)

7.2.6    Mexico

7.2.6.1    Market Estimates & Forecast Analysis, By Application, 2019-2027 (USD Billion)

7.2.6.2    Market Estimates & Forecast Analysis, By Technology Type, 2019-2027 (USD Billion)

7.3    Europe

7.3.1    Market Estimates & Forecast Analysis, By Country 2019-2027 (USD Billion)

7.3.2    Market Estimates & Forecast Analysis, By Application, 2019-2027 (USD Billion)

7.3.3    Market Estimates & Forecast Analysis, By Technology Type, 2019-2027 (USD Billion)

7.3.4    Germany

7.3.4.1    Market Estimates & Forecast Analysis, By Application, 2019-2027 (USD Billion)

7.3.4.2    Market Estimates & Forecast Analysis, By Technology Type, 2019-2027 (USD Billion)

7.3.5   UK

7.3.5.1    Market Estimates & Forecast Analysis, By Application, 2019-2027 (USD Billion)

7.3.5.2    Market Estimates & Forecast Analysis, By Technology Type, 2019-2027 (USD Billion)

7.3.6    France

7.3.6.1    Market Estimates & Forecast Analysis, By Application, 2019-2027 (USD Billion)

7.3.6.2    Market Estimates & Forecast Analysis, By Technology Type, 2019-2027 (USD Billion)

7.3.7    Russia

7.3.7.1    Market Estimates & Forecast Analysis, By Application, 2019-2027 (USD Billion)

7.3.7.2    Market Estimates & Forecast Analysis, By Technology Type, 2019-2027 (USD Billion)

7.3.8    Italy

7.3.8.1    Market Estimates & Forecast Analysis, By Application, 2019-2027 (USD Billion)

7.3.8.2    Market Estimates & Forecast Analysis, By Technology Type, 2019-2027 (USD Billion)

7.3.9    Spain

7.3.9.1     Market Estimates & Forecast Analysis, By Application, 2019-2027 (USD Billion)

7.3.9.2     Market Estimates & Forecast Analysis, By Technology Type, 2019-2027 (USD Billion)

7.3.10    Rest of Europe

7.3.10.1    Market Estimates & Forecast Analysis, By Application, 2019-2027 (USD Billion)

7.3.10.2    Market Estimates & Forecast Analysis, By Technology Type, 2019-2027 (USD Billion)

7.4    Asia Pacific

7.4.1    Market Estimates & Forecast Analysis, By Country 2019-2027 (USD Billion)

7.4.2    Market Estimates & Forecast Analysis, By Application, 2019-2027 (USD Billion)

7.4.3    Market Estimates & Forecast Analysis, By Technology Type, 2019-2027 (USD Billion)

7.4.4    China

7.4.4.1    Market Estimates & Forecast Analysis, By Application, 2019-2027 (USD Billion)

7.4.4.2    Market Estimates & Forecast Analysis, By Technology Type, 2019-2027 (USD Billion)

7.4.5    India

7.4.5.1    Market Estimates & Forecast Analysis, By Application, 2019-2027 (USD Billion)

7.4.5.2    Market Estimates & Forecast Analysis, By Technology Type, 2019-2027 (USD Billion)

7.4.6    Japan

7.4.6.1    Market Estimates & Forecast Analysis, By Application, 2019-2027 (USD Billion)

7.4.6.2    Market Estimates & Forecast Analysis, By Technology Type, 2019-2027 (USD Billion)

7.4.7    Australia

7.4.7.1    Market Estimates & Forecast Analysis, By Application, 2019-2027 (USD Billion)

7.4.7.2    Market Estimates & Forecast Analysis, By Technology Type, 2019-2027 (USD Billion)

7.4.8    South Korea

7.4.8.1   Market Estimates & Forecast Analysis, By Application, 2019-2027 (USD Billion)

7.4.8.2    Market Estimates & Forecast Analysis, By Technology Type, 2019-2027 (USD Billion)

7.3.9    Rest of Asia Pacific

7.3.9.1     Market Estimates & Forecast Analysis, By Application, 2019-2027 (USD Billion)

7.3.9.2     Market Estimates & Forecast Analysis, By Technology Type, 2019-2027 (USD Billion)

7.5    Central & South America

7.5.1    Market Estimates & Forecast Analysis, By Country 2019-2027 (USD Billion)

7.5.2    Market Estimates & Forecast Analysis, By Application, 2019-2027 (USD Billion)

7.5.3   Market Estimates & Forecast Analysis, By Technology Type, 2019-2027 (USD Billion)

7.5.4    Brazil

7.5.4.1    Market Estimates & Forecast Analysis, By Application, 2019-2027 (USD Billion)

7.5.4.2    Market Estimates & Forecast Analysis, By Technology Type, 2019-2027 (USD Billion)

7.5.5    Rest of Central & South America

7.5.5.1   Market Estimates & Forecast Analysis, By Application, 2019-2027 (USD Billion)

7.5.5.2    Market Estimates & Forecast Analysis, By Technology Type, 2019-2027 (USD Billion)

7.6    Middle East & Africa

7.6.1    Market Estimates & Forecast Analysis, By Country 2019-2027 (USD Billion)

7.6.2    Market Estimates & Forecast Analysis, By Application, 2019-2027 (USD Billion)

7.6.3    Market Estimates & Forecast Analysis, By Technology Type, 2019-2027 (USD Billion)

7.6.4    Saudi Arabia

7.6.4.1    Market Estimates & Forecast Analysis, By Application, 2019-2027 (USD Billion)

7.6.4.2   Market Estimates & Forecast Analysis, By Technology Type, 2019-2027 (USD Billion)

7.6.5    United Arab Emirates

7.6.5.1    Market Estimates & Forecast Analysis, By Application, 2019-2027 (USD Billion)

7.6.5.2    Market Estimates & Forecast Analysis, By Technology Type, 2019-2027 (USD Billion)

7.6.6    South Africa

7.6.6.1    Market Estimates & Forecast Analysis, By Application, 2019-2027 (USD Billion)

7.6.6.2    Market Estimates & Forecast Analysis, By Technology Type, 2019-2027 (USD Billion)

7.6.7    Rest of Middle East & Africa

7.6.7.1    Market Estimates & Forecast Analysis, By Application, 2019-2027 (USD Billion)

7.6.7.2    Market Estimates & Forecast Analysis, By Technology Type, 2019-2027 (USD Billion)

Chapter 7   Competitive Analysis

8.1    Key Global Players, Recent Developments & their Impact on the Industry

8.2    Four Quadrant Competitor Positioning Matrix

8.2.1    Key Innovators

8.2.2    Market Leaders

8.2.3    Emerging Players

8.2.4    Market Challengers

8.3    Vendor Landscape Analysis

8.4    End-User Landscape Analysis

8.5    Company Market Share Analysis, 2021

Chapter 8   Company Profile Analysis

9.1    Signify Holding

9.1.1    Company Overview

9.1.2    Financial Analysis

9.1.3    Strategic Initiatives

9.1.4    Product Benchmarking

9.2     Gavita

9.2.1    Company Overview

9.2.2    Financial Analysis

9.2.3    Strategic Initiatives

9.2.4    Product Benchmarking

9.3     Valoya

9.3.1    Company Overview

9.3.2    Financial Analysis

9.3.3    Strategic Initiatives

9.3.4    Product Benchmarking

9.4    Osram

9.4.1    Company Overview

9.4.2    Financial Analysis

9.4.3    Strategic Initiatives

9.4.4    Product Benchmarking

9.5    LumiGrow Inc.

9.5.1    Company Overview

9.5.2    Financial Analysis

9.5.3    Strategic Initiatives

9.5.4    Product Benchmarking

9.6     Savat Company

9.6.1    Company Overview

9.6.2    Financial Analysis

9.6.3    Strategic Initiatives

9.6.4    Product Benchmarking

9.7     Hubbell

9.7.1    Company Overview

9.7.2    Financial Analysis

9.7.3    Strategic Initiatives

9.7.4    Product Benchmarking

9.8    Iluminar Lighting

9.8.1    Company Overview

9.8.2    Financial Analysis

9.8.3    Strategic Initiatives

9.8.4    Product Benchmarking

9.9     Agrolux

9.9.1    Company Overview

9.9.2    Financial Analysis

9.9.3    Strategic Initiatives

9.9.4    Product Benchmarking

9.10   Other Companies

9.10.1    Company Overview

9.10.2    Financial Analysis

9.10.3    Strategic Initiatives

9.10.4    Product Benchmarking

List of Tables

1 Technological Advancements in Horticulture LED Lighting Market

2 Global Horticulture LED Lighting Market: Key Market Drivers

3 Global Horticulture LED Lighting Market: Key Market Challenges

4 Global Horticulture LED Lighting Market: Key Market Opportunities

5 Global Horticulture LED Lighting Market: Key Market Restraints

6 Global Horticulture LED Lighting Market Estimates & Forecast Analysis, 2019-2027 (USD Billion)

7 Global Horticulture LED Lighting Market, By Application, 2019-2027 (USD Billion)

8 Greenhouses: Global Horticulture LED Lighting Market, By Region, 2019-2027 (USD Billion)

9 Indoor Farms: Global Horticulture LED Lighting Market, By Region, 2019-2027 (USD Billion)

10 Vertical Farms: Global Horticulture LED Lighting Market, By Region, 2019-2027 (USD Billion)

11 Global Horticulture LED Lighting Market, By Technology Type, 2019-2027 (USD Billion)

12 Fluorescent: Global Horticulture LED Lighting Market, By Region, 2019-2027 (USD Billion)

13 HID: Global Horticulture LED Lighting Market, By Region, 2019-2027 (USD Billion)

14 LED: Global Horticulture LED Lighting Market, By Region, 2019-2027 (USD Billion)

15 Regional Analysis: Global Horticulture LED Lighting Market, By Region, 2019-2027 (USD Billion)

16 North America: Horticulture LED Lighting Market, By Application, 2019-2027 (USD Billion)

17 North America: Horticulture LED Lighting Market, By Technology Type, 2019-2027 (USD Billion)

18 North America: Horticulture LED Lighting Market, By Country, 2019-2027 (USD Billion)

19 U.S: Horticulture LED Lighting Market, By Application, 2019-2027 (USD Billion)

20 U.S: Horticulture LED Lighting Market, By Technology Type, 2019-2027 (USD Billion)

21 Canada: Horticulture LED Lighting Market, By Application, 2019-2027 (USD Billion)

22 Canada: Horticulture LED Lighting Market, By Technology Type, 2019-2027 (USD Billion)

23 Mexico: Horticulture LED Lighting Market, By Application, 2019-2027 (USD Billion)

24 Mexico: Horticulture LED Lighting Market, By Technology Type, 2019-2027 (USD Billion)

25 Europe: Horticulture LED Lighting Market, By Application, 2019-2027 (USD Billion)

26 Europe: Horticulture LED Lighting Market, By Technology Type, 2019-2027 (USD Billion)

27 Europe: Horticulture LED Lighting Market, By Country, 2019-2027 (USD Billion)

28 Germany: Horticulture LED Lighting Market, By Application, 2019-2027 (USD Billion)

29 Germany: Horticulture LED Lighting Market, By Technology Type, 2019-2027 (USD Billion)

30 UK: Horticulture LED Lighting Market, By Application, 2019-2027 (USD Billion)

31 UK: Horticulture LED Lighting Market, By Technology Type, 2019-2027 (USD Billion)

32 France: Horticulture LED Lighting Market, By Application, 2019-2027 (USD Billion)

33 France: Horticulture LED Lighting Market, By Technology Type, 2019-2027 (USD Billion)

34 Italy: Horticulture LED Lighting Market, By Application, 2019-2027 (USD Billion)

35 Italy: Horticulture LED Lighting Market, By Technology Type, 2019-2027 (USD Billion)

36 Spain: Horticulture LED Lighting Market, By Application, 2019-2027 (USD Billion)

37 Spain: Horticulture LED Lighting Market, By Technology Type, 2019-2027 (USD Billion)

38 Rest Of Europe: Horticulture LED Lighting Market, By Application, 2019-2027 (USD Billion)

39 Rest Of Europe: Horticulture LED Lighting Market, By Technology Type, 2019-2027 (USD Billion)

40 Asia Pacific: Horticulture LED Lighting Market, By Application, 2019-2027 (USD Billion)

41 Asia Pacific: Horticulture LED Lighting Market, By Technology Type, 2019-2027 (USD Billion)

42 Asia Pacific: Horticulture LED Lighting Market, By Country, 2019-2027 (USD Billion)

43 China: Horticulture LED Lighting Market, By Application, 2019-2027 (USD Billion)

44 China: Horticulture LED Lighting Market, By Technology Type, 2019-2027 (USD Billion)

45 India: Horticulture LED Lighting Market, By Application, 2019-2027 (USD Billion)

46 India: Horticulture LED Lighting Market, By Technology Type, 2019-2027 (USD Billion)

47 Japan: Horticulture LED Lighting Market, By Application, 2019-2027 (USD Billion)

48 Japan: Horticulture LED Lighting Market, By Technology Type, 2019-2027 (USD Billion)

49 South Korea: Horticulture LED Lighting Market, By Application, 2019-2027 (USD Billion)

50 South Korea: Horticulture LED Lighting Market, By Technology Type, 2019-2027 (USD Billion)

51 Middle East & Africa: Horticulture LED Lighting Market, By Application, 2019-2027 (USD Billion)

52 Middle East & Africa: Horticulture LED Lighting Market, By Technology Type, 2019-2027 (USD Billion)

53 Middle East & Africa: Horticulture LED Lighting Market, By Country, 2019-2027 (USD Billion)

54 Saudi Arabia: Horticulture LED Lighting Market, By Application, 2019-2027 (USD Billion)

55 Saudi Arabia: Horticulture LED Lighting Market, By Technology Type, 2019-2027 (USD Billion)

56 UAE: Horticulture LED Lighting Market, By Application, 2019-2027 (USD Billion)

57 UAE: Horticulture LED Lighting Market, By Technology Type, 2019-2027 (USD Billion)

58 Central & South America: Horticulture LED Lighting Market, By Application, 2019-2027 (USD Billion)

59 Central & South America: Horticulture LED Lighting Market, By Technology Type, 2019-2027 (USD Billion)

60 Central & South America: Horticulture LED Lighting Market, By Country, 2019-2027 (USD Billion)

61 Brazil: Horticulture LED Lighting Market, By Application, 2019-2027 (USD Billion)

62 Brazil: Horticulture LED Lighting Market, By Technology Type, 2019-2027 (USD Billion)

63 Signify Holding: Products Offered

64 Gavita: Products Offered

65 Valoya: Products Offered

66 Osram: Products Offered

67 LumiGrow Inc.: Products Offered

68 Savat Company: Products Offered

69 Agrolux: Products Offered

70 Hubbell: Products Offered

71 Iluminar Lighting: Products Offered

72 Other Companies: Products Offered

List of Figures

1. Global Horticulture LED Lighting Market Segmentation & Research Scope

2. Primary Research Partners and Local Informers

3. Primary Research Process

4. Primary Research Approaches

5. Primary Research Responses

6. Global Horticulture LED Lighting Market: Penetration & Growth Prospect Mapping

7. Global Horticulture LED Lighting Market: Value Chain Analysis

8. Global Horticulture LED Lighting Market Drivers

9. Global Horticulture LED Lighting Market Restraints

10. Global Horticulture LED Lighting Market Opportunities

11. Global Horticulture LED Lighting Market Challenges

12. Key Horticulture LED Lighting Market Manufacturer Analysis

13. Global Horticulture LED Lighting Market: Porter’s Five Forces Analysis

14. PESTLE Analysis & Impact Analysis

15. Signify Holding: Company Snapshot

16. Signify Holding: Swot Analysis

17. Gavita: Company Snapshot

18. Gavita: Swot Analysis

19. Valoya: Company Snapshot

20. Valoya: Swot Analysis

21. Osram: Company Snapshot

22. Osram: Swot Analysis

23. LumiGrow Inc.: Company Snapshot

24. LumiGrow Inc.: Swot Analysis

25. Agrolux: Company Snapshot

26. Agrolux: Swot Analysis

27. Hubbell: Company Snapshot

28. Hubbell: Swot Analysis

29. Iluminar Lighting: Company Snapshot

30. Iluminar Lighting: Swot Analysis

31. Savat Company: Company Snapshot

32. Savat Company: Swot Analysis

33. Other Companies: Company Snapshot

34. Other Companies: SWOT Analysis

The Global Horticulture LED Lighting Market has been studied from the year 2019 till 2027. However, the CAGR provided in the report is from the year 2022 to 2027. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.

The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply-side analysis for the Horticulture LED Lighting Market.

The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.

Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.

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Frequently Asked Questions

The global Horticulture LED Lighting market is projected to grow from USD 3.2 billion in 2022 to USD 10.8 billion in 2027 at a CAGR of 9.3% from 2022 to 2027.
Signify Holding, Gavita, Valoya, Osram, LumiGrow Inc., Savat Company, Hubbell, Iluminar Lighting, and Agrolux, among others, are key players in the horticulture LED lighting market.
The COVID-19 pandemic impacted the global horticulture-LED lighting market significantly. The global horticulture-LED lighting market had hit a stagnant stage during the initial days of the pandemic. The immediate impact was on the supply chain analysis and it affected the consumers. There was a shortage of food and the prices of fruits and vegetables were increasing rapidly. The global horticulture sector also faced a shortage in the workforce as many workers went back to their hometowns due to lockdowns. But as regional lockdowns were lifted, the global horticulture-LED lighting market saw substantial growth. The growing demand for the horticulture LED lighting market will boost the markets revenue between 2022 and 2027.
The major driver in the horticulture LED lighting market is the increase in disposable income of developing countries. Many consumers are relying on homegrown fruits and vegetables. This increases demand for greenhouses vertical and indoor farms. Horticulture lighting is energy efficient and the energy consumption is less than regular farming. These advantages drive the market during the forecast period.
The war between Russia and Ukraine had a substantial impact on the global automotive end-point authentication market. Ukraine and Russia are facing production delays, a rise in transportation costs, and low sales due to the ongoing war. This also affects the other regions in Europe. Many countries trade with Russia and they are facing stockpiling and low demand due to increased prices. This impacts the political relations in the international market. Many companies are shutting down their business in Russia temporarily and this affects their other production plants as they have increased pressure of producing goods.

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