The Europe Horticulture Lighting Market would witness market growth of 20.6% CAGR during the forecast period (2022-2028).
Rising demand for energy-efficient Light-Emitting Diodes (LEDs) in horticulture to increase crop production & reduce energy usage is driving market growth. Another element driving demand for horticulture lighting is the constant change in unfavourable weather conditions for farming throughout geographies to sustain a controlled climate ideal for agriculture. Government measures to promote the acceptance of Controlled Environment Agriculture (CEA) practices are projected to propel the horticulture lighting market forward in the future. The growing demand for horticulture lighting techniques & systems is being driven by the growing trend of cultivating crops indoors & precision farming.
LED producers are partnering with researchers to expand horticulture lighting technology so that they can provide goods that allow for better crop development and supply to businesses including retail food & flower marketplaces, as well as food processing facilities
Horticulturists in the Netherlands, the world's second-largest exporter of agricultural products behind the United States, are testing multi-colored LEDs for potential production increase, product quality & taste improvement, and greenhouse energy cost reduction. Likewise, the Dutch government is concentrating on the construction of a geothermal heat plant, which entails drilling down into the stratum & installing heat exchangers. The government has aided the growers by providing soft loans & tax exemptions, among other things.
Europe has a sizable proportion of the horticulture lighting market, which is expected to continue to develop as other European countries promote plant factories and provide subsidies to boost local demand. The European Union's attempts to promote the acceptance of LED technology are likely to expand prospects for LED light providers in the horticulture industry.
The Germany market dominated the Europe Horticulture Lighting Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $867.8 million by 2028. The UK market is experiencing CAGR of 19.6% during (2022 - 2028). Additionally, The France market would exhibit a CAGR of 21.5% 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Horticulture Lighting Market will Hit $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
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