Global Horticulture Lighting Market Insights Report Overview

According to the latest market study by MarkNtel Advisors titled “Global Horticulture Lighting Market: Industry Size, Share, Trends, Growth, Opportunity Analysis 2024-2030” presents a thorough examination of market drivers, opportunities and challenges.

Utilizing a quantitative approach, it offers precise insights into market size, share, and growth. Crafted by industry experts, the report delves into consumption patterns, geographical analysis, and competitive landscapes. Its objective is to furnish valuable insights for clients seeking to comprehend and leverage market dynamics. With a dual focus on historical achievements and future projections, it furnishes a nuanced understanding of the market terrain.

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Horticulture Lighting Market Overview:

The Global Horticulture Lighting Market size is valued at around USD 6.78 Billion in 2023 and is projected to grow at a CAGR of around 16.22% during the forecast period, i.e., 2024-30. 

Global Horticulture Lighting Market Possible Restraint:

Need for Well-Equipped Infrastructure for CEA - Intricacies involved in deploying CEA technology tend to hinder market growth as it poses additional requirements in terms of nutrients, light, water, and climate control devices for plants' overall development, resulting in enhanced costs for overall harvest. That said, it is quite challenging to supervise and facilitate such practices, especially in larger fields. It directly impacts the design and development of horticulture lighting fixtures for plant growth. Therefore, the increased cost and effective management pose challenges to the stakeholders.

Competitor Insight: Horticulture Lighting Market

This report focuses on major market participants like:

• Bridgelux Inc.
• EYE Hortilux
• Maxigrow Ltd
• Hortilux Schreder
• Osram Licht AG
• Gavita International BV
• Lumileds
• Agrolux
• PARsource
• Heliospectra
• Signify
• Valoya
• California Lightworks
• LumiGrow
• EYE Hortilux
• Others

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Segmentation Summary: Horticulture Lighting Market

This segmentation analysis outlines prominent sections in the report's table of contents. Each segment undergoes thorough analysis, including sub-segments, to showcase both current and historical market sizes. The analysis underscores investment opportunities for rapid growth, particularly in the Horticulture Lighting Market, with notable highlighting on:

-By Lighting Type

• Top lighting
• Inter lighting
• Supplemental Lighting
• Sole-Source Lighting
• Photoperiodic Lighting

Here, Inter lighting segment acquires the major revenue share in the market during the forecast period. Such dominance can be credited to its consummate ability to proportionally distribute the lights in the canopy that otherwise tends to receive lesser lights in lower and middle levels. With relatively improved light efficacy, the Inter lighting led to higher yields as compared to other variants. Besides, the sudden rise in the number of greenhouses for cucumber and tomato agriculture further acts as a catalyst to the market.

-By Application

• Indoor Farming
• Greenhouse
• Vertical Farming

-By Technology

• High-Intensity Discharge (HID)
• Fluorescent

-By Offering

• Hardware
• Software
• Services

-By Cultivation

• Vegetable
• Fruits
• Floriculture
• Others (Medicinal plants, Aromatic, etc.)

Horticulture Lighting Market Geographical Reach:

• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

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Key Questions Addressed:

• Factors Driving Market Growth: Understand the primary drivers propelling the Horticulture Lighting market forward.
• Access to Reliable Reports: Learn where to access dependable market reports for informed decision-making.
• Growth Projections: Gain insights into anticipated growth projections for the coming years.
• Geographical Hotspots: Identify geographical poised for significant market growth soon.

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Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 14.8 diverse industrial verticals.

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