The Europe Agricultural Lighting Market would witness market growth of 11.8% CAGR during the forecast period (2023-2030).
LED crop lighting is a new and highly promising industrial use of plant light-filling illumination in agriculture. When used with IoT, it can improve control over LED lighting systems and liberate crop cultivation from the constraints and impacts of sunlight. With this technology's help, farmers can grow their crops indoors while reducing the risk of pests and diseases. This progression will not only advance the level of productivity in modern agriculture but also create limitless market opportunities.
Being a farmer, lowering carbon footprint demonstrates concern for the environment, making any effort to do so morally right. When it also helps people save money, it is even better. LEDs are durable and energy efficient. LEDs are entirely recyclable and don't contain any harmful materials like mercury. Due to their lengthy lifespan, production energy and materials are significantly reduced.
Europe's economy is among the strongest in the world, and its growing industries lead to more capital investment capacity, which can be credited with the market's expansion. In this region, grow light systems have been utilized for a few decades to grow plants in industrial greenhouses. The population of Europe has been expanding significantly in recent years, and countries are importing frozen produce from markets. The region has to increase its production volume to both have enough food for the population and to reduce imports from other countries. the agriculture lighting market will witness significant growth in the upcoming years across Europe region.
The Germany market dominated the Europe Agricultural Lighting Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,780.9 million by 2030. The UK market is experiencing a CAGR of 10.8% during (2023 - 2030). Additionally, The France market would showcase a CAGR of 12.6% during (2023 - 2030).
Based on Installation, the market is segmented into New, and Retrofit. Based on Light Source, the market is segmented into LED, Fluorescent, HID, and Others. Based on Wattage Type, the market is segmented into Below 50W, 50 - 150W, and Above 150W. Based on Sales Channel, the market is segmented into Retail/Wholesale, Direct Sales, and Online/E-commerce. Based on Offering, the market is segmented into Hardware, Software, and Services. Based on Application, the market is segmented into Livestock, Horticulture, and Aquaculture. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide Agricultural Lighting Market is Projected to reach USD 26.7 Billion by 2030, at a CAGR of 12.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Signify N.V., ams-OSRAM AG, Tetra Laval International S.A. (DeLaval), Heliospectra AB, Valoya Oy, California LightWorks (MWW Inc.), Gavita International B.V., Hortilux Schréder (Dool Industries), and CBM Lighting, Inc.
By Installation
By Light Source
By Wattage Type
By Sales Channel
By Offering
By Application
By Country
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