The Asia Pacific Horticulture Lighting Market would witness market growth of 21.8% CAGR during the forecast period (2022-2028).
Horticulture lighting refers to the illumination used in horticulture (garden cultivation). Horticulture lighting stimulates plant growth by adjusting light conditions to meet the needs of the plants, resulting in increased yields throughout the year. Governments & organizations all around the world have taken steps to enhance horticulture with effective & efficient lighting as a result of a growing awareness of sustainability. Lighting is employed in the cultivation of fruits & vegetables, as well as floriculture, which is expected to drive demand & contribute to growth. Moreover, demand for horticulture lighting systems is increasing in vertical farming applications, and leading businesses are launching financial support programs for farmers.
Changing demographics, growing incomes, & changed consumer preferences have led to an ever-increasing demand for food that is more diversified, healthier, and of greater quality in China, and this desire is expected to continue for a long time.
Governments and organizations from all around the region are working to enhance horticulture through the use of efficient & effective lighting. These factors are expected to propel the market forward and contribute to its expansion. In addition, demand for horticulture lighting systems is increasing in vertical farming applications, which is predicted to expand. In addition, leading corporations are developing financial assistance programs for farmers. During the next few years, these initiatives are likely to provide profitable growth prospects.
The China market dominated the Asia Pacific Horticulture Lighting Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,018.6 million by 2028. The Japan market is anticipated to grow at a CAGR of 21% during (2022 - 2028). Additionally, The India market would showcase a CAGR of 22.5% during (2022 - 2028).
Based on Offering, the market is segmented into Hardware and Software & Services. Based on Technology, the market is segmented into LED, HID, Fluorescent, and Others. Based on Application, the market is segmented into Greenhouses, Vertical Farms, Indoor Farms, and Others. Based on Cultivation, the market is segmented into Fruits & Vegetables, Floriculture, and Others. Based on Lighting Type, the market is segmented into Toplighting and Interlighting. Based on Installation Type, the market is segmented into New Installations and Retrofit Installations. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Horticulture Lighting Market is Projected to reach USD 11.1 Billion by 2028, at a CAGR of 21.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Signify N.V., LumiGrow, Inc., Heliospectra AB, Iluminar Lighting LLC., Gavita International B.V., California LightWorks, Valoya Oy, Hortilux Schréder, and Eye Hortilux.
By Offering
By Technology
By Application
By Cultivation
By Lighting Type
By Installation Type
By Country
Related Reports:
Global Horticulture Lighting Market Report 2022-2028
North America Horticulture Lighting Market Report 2022-2028
Europe Horticulture Lighting Market Report 2022-2028
LAMEA Horticulture Lighting Market Report 2022-2028
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