What is Global Horticultural Lighting Market?
The Global Horticultural Lighting Market is a rapidly growing sector that focuses on the use of artificial light for plant growth. This market is driven by the increasing need for sustainable farming methods due to the rising global population and decreasing arable land. Horticultural lighting is a method that uses LED lights to stimulate plant growth by emitting electromagnetic spectrums suitable for photosynthesis. These lights are designed to substitute natural sunlight, allowing plants to grow indoors or in conditions where natural light may be insufficient. This technology is being widely adopted in various sectors of agriculture, including indoor farming, vertical farming, and greenhouse cultivation, due to its efficiency and effectiveness. The global horticultural lighting market is a testament to the advancements in agricultural technology and the increasing need for sustainable farming practices.
Toplighting, Interlighting in the Global Horticultural Lighting Market:
Toplighting and interlighting are two key components of the Global Horticultural Lighting Market. Toplighting, as the name suggests, is the use of lights placed above the plants. This method is commonly used in greenhouses and indoor farms where natural light is limited. The lights are usually LED-based, providing the necessary light spectrum for photosynthesis. On the other hand, interlighting involves placing lights within the plant canopy. This method is particularly beneficial for tall, densely grown crops where light penetration can be a challenge. Interlighting ensures that light reaches the lower leaves, promoting overall plant growth and yield. Both toplighting and interlighting play a crucial role in modern horticulture, offering growers the ability to control the light environment, thereby optimizing plant growth and productivity.
Greenhouses, Vertical Farming, Indoor Farming, Others in the Global Horticultural Lighting Market:
The Global Horticultural Lighting Market has found its application in various areas such as greenhouses, vertical farming, indoor farming, and others. In greenhouses, horticultural lighting is used to supplement natural sunlight, ensuring that plants receive the necessary light for photosynthesis. This is particularly useful in regions with limited sunlight or during winter months. In vertical farming, horticultural lighting is essential as it allows for the growth of plants in stacked layers, maximizing space efficiency. Indoor farming also heavily relies on horticultural lighting, as it allows for the cultivation of plants in controlled environments, regardless of external weather conditions. Other applications of horticultural lighting include research facilities and home gardening. The versatility and effectiveness of horticultural lighting make it a valuable tool in modern agriculture.
Global Horticultural Lighting Market Outlook:
Looking at the market outlook, the Global Horticultural Lighting Market has shown significant growth and potential. In 2023, the market was valued at US$ 2592.1 million. However, it is expected to experience a substantial increase, reaching a value of US$ 6588.1 million by 2030. This growth represents a Compound Annual Growth Rate (CAGR) of 14.0% during the forecast period from 2024 to 2030. This substantial growth can be attributed to the increasing adoption of sustainable farming practices and the growing need for efficient and effective agricultural methods. The figures indicate a promising future for the Global Horticultural Lighting Market, reflecting the increasing importance of this technology in the agricultural sector.
| Report Metric | Details |
| Report Name | Horticultural Lighting Market |
| Accounted market size in 2023 | US$ 2592.1 million |
| Forecasted market size in 2030 | US$ 6588.1 million |
| CAGR | 14.0% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
|
| Segment by Application |
|
| Production by Region |
|
| Consumption by Region |
|
| By Company | Signify, Gavita Holland, GE Lighting, OSRAM, Agrolux, Heliospectra, Hortilux Schreder, Lumileds, PARsource, Illumitex |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
