Horticultural Lighting Market

Horticulture needs specialized lighting that is a mix of different wavelengths for enabling the plants to grow. Different parameters may be used to measure the optimal lighting, and photosynthetic photon flux (PPF) is one such parameter used by lighting manufacturers. Rise in use of LED lighting for vertical farming and intra-canopy is a key trend bolstering the prospects of the horticulture lighting market. LEDs are an attractive luminaire used in horticulture, and technological advancements have focused on improving PPF. The use of different color LEDs in luminaires is a key aspect of horticulture lighting. An excellent lifetime and minimal maintenance is what is driving the popularity of LED lighting in the market.

Over the years, standards pertaining to professional horticulture applications have evolved greatly. In response to these developments, LED lighting manufacturers operating in the horticulture lighting market are geared toward continuously improving the performance. Several companies are leveraging optoelectronics and chip technologies to meet these ends. The growing demand for high quality crops grown in vertical farming is a key trend in urban spaces propelling product advancements in the market. Energy efficiency will be a key parameter for them. Lighting manufacturers are also keen on reducing the overall cost systems for their customers to make these fixtures affordable for consumers in cost-sensitive markets.

Horticultural Lighting: Introduction

  • Horticulture is a branch of agriculture that deals with plants, garden crops, fruits, vegetables, and ornamental plants. Horticulture lighting is an artificial light source used to facilitate photosynthesis.
  • Horticultural lighting is segmented based on offering, technology, lighting type, cultivation, applications, and region.
  • Horticultural lighting is designed for various applications such as greenhouses, vertical farming, and indoor farming
  • Changing climate and increasing population across the world is generating additional demand for food, which is difficult to be met only through conventional farming. Rising awareness about indoor farming, and government initiatives to support the adoption of energy-efficient LEDs in horticulture is expected to boost the global horticultural lighting market throughout the forecast period.

Rise in Demand for LED Lights

  • In terms of technology, the LED lights segment is likely to see the fastest growth in the global horticultural lighting market throughout the forecast period due to the rise in demand for LED lights for horticultural lighting.
  • LED lights segment is anticipated to dominate the global horticultural lighting market throughout the forecast period due to the unique properties of LED lights. These lights are energy-efficient, produce low heat, are compact, have a huge life span of up to 50,000 hours, provide cool operation, and have the capability to customize the spectral output to emit the specific wavelengths which are usable by plants.
  • Moreover, LED technology is gaining popularity in the horticultural sector due to NASA, which is continuously working on plant-growth experiments under LED lighting.
  • In June 2019, the leading lighting company Signify, launched Philips Green Power LED top lighting compact, which provides a replacement for HPS lighting that fits seamlessly in existing HPS set-ups and trellis constructions.
  • In July 2019, Osram Licht AG launched a horticulture LED line with broader white and purple spectra. This purple LED delivers red and blue spectral energy conductive to photosynthesis.
  • The high cost of energy-efficient LED lights, the need for various light spectrums for certain crop varieties, and the feasibility of cultivating a limited number of crop species are the restraining factors of the horticultural lighting market. However, retrofitting traditional lighting sources with LED grow lights and rising awareness about vertical and indoor farming creates lucrative opportunities for key players of the horticultural lighting market.

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Europe to Lead the Horticultural Lighting Market

  • In terms of region, the global horticultural lighting market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
  • Europe is anticipated to dominate the global horticultural lighting market throughout the forecast period due to growth in city farming along with advancement in technology, and rise in the number of food suppliers and farm start-ups.
  • Moreover, European countries provide subsidies to spur the local demand, promoting plant factories. Additionally, the European Union's initiatives to encourage the adoption of horticulture lights are expected to create more opportunities for the horticultural lighting market.
  • The second fastest growth of the global horticultural lighting market is seen in Asia Pacific due to a rise in awareness regarding the importance of steady supply of crops and unfavorable weather conditions across developing countries of the region such as China and India.
  • The horticultural lighting market in North America is expected to expand at a substantial rate during the forecast period. On the other hand, the market in Middle East & Africa and South America is estimated to expand at a moderate pace during the forecast period.

Key Players Operating in the Global Horticultural Lighting Market

The global horticultural lighting market was highly fragmented in 2019. Major players operating in the global market are focusing on technological advancement and expansion to meet the rising demand for horticultural lighting. Moreover, manufacturers are undertaking mergers and acquisitions for the development of innovative products.

Key players operating in the global horticultural lighting market include:

  • Signify
  • Gavita Holland B.V.
  • GE Lighting
  • Osram Licht AG
  • Agrolux
  • Heliospectra
  • Hortilux Schreder
  • Lumileds Holding B.V.
  • PARsource
  • Illumitex
  • Hubbell Incorporated
  • Bridgelux, Inc.
  • Eye Hortilux
  • LumiGrow, Inc.

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Global Horticultural Lighting Market: Research Scope

Global Horticultural Lighting Market, by Offering

  • Hardware
  • Software & Services

Global Horticultural Lighting Market, by Technology

  • LED Lights
  • High-pressure Sodium Lamps
  • High-intensity Discharge (HID) Lights
  • Fluorescent Lights
  • CFL Lights
  • Others

Global Horticultural Lighting Market, by Lighting Type

  • Top lighting
  • Inter lighting

Global Horticultural Lighting Market, by Cultivation

  • Fruits & Vegetables
  • Floriculture

Global Horticultural Lighting Market, by Application

  • Greenhouses
  • Vertical Farming
  • Indoor Farming
  • Others

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Horticultural Lighting Market