The Horticulture Lighting market is expected to record a CAGR of 22.7% over the forecast period. Effective spectral distribution of light is important for the growth of plants. Increasing awareness about the same is expected to propel the demand for the horticulture lights.
– Weather change is one of the significant causes augmenting the demand for horticulture lights to maintain a controlled agriculture environment. Horticulture lights help in maximizing crop yield and save energy with new lighting solutions. These qualities of horticulture lights and their rising awareness among farmers are likely to gain momentum for the market studied over the forecast period. Increase in the number of food-suppliers and farm start-ups are further expected to encourage the adoption of horticulture lights.
– The importance of LED lighting applications in the horticultural sector is growing with the rising trend of indoor and vertical farming applications. With controllable spectrum and illuminance, LED is widely used in cultivation for several kinds of crops such as tomatoes, herbs, greens, and cucumbers, among others. A South Korean agriculture cultivator, Farm8 has been using LED technology to help plants grow. With this technology, a plant can be grown in around 35 days, when compared to the time taken (i.e. 50 days) by a plant to grow outdoors.
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– The growing population across the world is generating additional demand for food, which is difficult to be met only through conventional farming. However, advancements in horticulture lighting enable indoor agriculture to increase crop yield efficiently. Horticulture light acts as the primary light source in indoor farming, in the complete absence or partial of natural light. Companies such as Signify (Philips Lighting) established GrowWise, a city farm facility focusing on cultivating a variety of crops, such as strawberries, leafy vegetables, etc. The company has planned to utilize LED horticulture lights to increase crop production in its indoor farming facilities.
Scope of the Report
Horticulture lighting support, increase, and enable the growth of plants by illuminating them with artificial light. This lighting supplement natural daylight and raise grow light levels to enhance photosynthesis and thereby improving the growth and quality of plants. This also replaces daylight with artificial light for ultimate climate control.
Key Market Trends
LEDs are Expected to Hold a Significant Share
– The LED technology is gaining popularity in the horticultural sector, mainly due to NASA, which continues to conduct plant-growth experiments under LED lighting. It shows immense potential as horticultural lighting fixtures because of low energy consumption, cool operation and the capability to customize the spectral output to emit the specific wavelengths usable by plants.
– These lights are also more cost-efficient than other artificial light sources. LEDs do not burn out like traditional light bulbs but experience minimum lumen depreciation over time. Though light bulbs are liable to fail on average after one year, LEDs can be operated for more than 50,000 hours (depending on the type of application). The increased lifetime ensures high reliability.
– LEDs can emit light in an efficient way that produces much less heat than other lighting fixtures. In most of the indoor farming, heat is considered waste and is removed by an air conditioner or fan, but LEDs can reduce the energy consumption associated with the removal of excess heat by not producing it in the first place.
Horticulture Lighting Market Size Development Status, Top Manufacturers, and Forecast 2022-2031
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