DUBLIN–(BUSINESS WIRE)–The “Global Horticulture Lighting Market with COVID-19 Impact Analysis by Technology (Fluorescent, HID, LED), Application (Greenhouses, Vertical Farms, Indoor Farms), Cultivation, Lighting Type, Offering, Installation, and Region – Forecast to 2025” report has been added to AnalysisAndMarkets.com’s providing.
The international horticulture lighting market is projected to develop from USD 2.three billion in 2020 to USD 6 billion by 2025; it’s anticipated to develop at a CAGR of 21.4% from 2020 to 2025.
The market has a promising progress potential due to a number of components, together with the technological developments in LED know-how, rising quantity of authorities initiatives to promote the adoption of CEA practices, rising demand for meals owing to the repeatedly growing inhabitants, and ongoing legalization of hashish cultivation. Moreover, growing the adoption of CEA services to meet the rising demand for contemporary produce due to COVID-19, and growing consciousness relating to advantages supplied by LED know-how to develop crops via the yr amid the COVID-19 pandemic may play a key position in driving the expansion of the horticulture lighting market.
Rising penetration of LED lights in indoor farming due to their lengthy lifespan, spectrum adjustability, and vitality effectivity
The LED know-how phase is projected to develop on the highest CAGR from 2020 to 2025 for horticulture lighting market, by know-how. Energy effectivity continues to be a key issue for the adoption of LED know-how within the horticulture sector, together with further advantages within the kind of low warmth, lengthy lifespan, mild weight, and enhanced controllability. This is predicted to increase their adoption throughout varied functions through the forecast interval.
Fruits and greens is estimated to maintain the most important share of the market throughout forecast interval
The vegetables and fruit phase is projected to account for the most important measurement of the horticulture lighting market from 2020 to 2025, by cultivation. Increasing demand for fast and contemporary horticultural produce owing to inhabitants progress and loss of arable land is a key issue driving the expansion of this phase of the market. The surging quantity of vertical farms and greenhouses can also be anticipated to contribute to the expansion of this phase of the market.
APAC is projected to develop into the quickest geographical market between 2020 and 2025
APAC is projected to develop on the highest CAGR for horticulture lighting market through the forecast interval. The progress of the market on this area might be attributed to its repeatedly growing inhabitants, which leads to rising demand for meals from APAC. This has led to a rise within the adoption of superior farming applied sciences resembling CEA to allow the availability of contemporary vegetables and fruit all year long. Moreover, excessive strain on cultivators to enhance agricultural yields with restricted out there sources and elevated necessities to defend crops from surprising climatic modifications are additionally contributing to the adoption of horticulture lighting in APAC through the forecast interval.
- Strong Government Support for Controlled-Environment Agriculture (CEA) Practices and Adoption of SSL Technology
- High Demand for Fresh Produce in Quick Time Owing to Population Growth and Loss of Arable Land
- Increased Funding to Build Vertical Farms and Greenhouses, Along with Legalization of Cannabis Cultivation
- Extensive Deployment of LED Fixtures in Controlled Agricultural Environment
- Widespread Use of Automated and Energy-Efficient Lighting Fixtures to Minimize Energy Costs and Regulate Plant Growth
- High Setup and Installation Costs of LED Grow Lights
- Complex Requirement for Varied Light Spectra for Different Crops
- Promising Trend of Farm-to-Table Concept
- Potential Market Opportunities in Asian and Middle Eastern Economies for Vertical Farming
- Year-Round Crop Production, Irrespective of Weather Conditions
- Gradual Emergence of Horticulture Lighting Software and Calculator
- Complexities Associated with Deployment of Controlled Environment Agriculture Technology in Large-Sized Fields and High Need for Technical Know-How
- Lack of Standard Testing Practices for Accessing Product Quality of Horticulture Lights and Their Fixtures
- Effective Integration of Different Components and Technologies Used in CEA Facilities
- Active Grow LLC
- Black Dog Grow Technologies Inc.
- California Lightworks
- Eye Hortilux (An Eye Lighting Division)
- Gavita International B.V.
- GE Current, a Daintree Company
- GE Lighting, a Savant Company
- Glaciallight – Lighting Division of Glacialtech
- Heliospectra AB
- Hortilux Schreder (Dool Industries)
- Hyperion Grow Lights
- ILUMINAR Lighting
- LumiGrow, Inc.
- OSRAM GmbH (Part of AMS AG)
- Signify Holding
- Thrive Agritech
- Vividgro (Subsidiary of Lighting Science Group Corporation)
For extra details about this report go to https://www.researchandmarkets.com/r/m9p0un