Brooklyn, New York, July 29, 2022 (GLOBE NEWSWIRE) -- According to a new market research report published by Global Market Estimates, the Global Horticulture LED Lighting Market is projected to grow from USD 3.2 billion in 2022 to USD 10.8 billion in 2027 at a CAGR of 23.3% from 2022 to 2027.
The major driver in the horticulture-led lighting market is the increase in disposable income of developing countries. Many consumers are relying on homegrown fruits and vegetables. This increases demand for greenhouses vertical and indoor farms. Also, horticulture lighting is energy efficient and the energy consumption is less than regular farming.
Browse 153 Market Data Tables and 113 Figures spread through 185 Pages and in-depth TOC on “Global Horticulture LED Lighting Market - Forecast to 2027’’
Key Market Insights
- As per the application outlook, the greenhouse segment is expected to be the largest segment in the Horticulture LED Lighting market from 2022 to 2027
- The Asia Pacific region is analyzed to be the fastest-growing segment in the market
- The United States has the largest share in the market during the forecast period of 2022-2027.
- As per the crop type, the fruits & vegetable segment is expected to be the largest segment in the Horticulture LED Lighting market from 2022 to 2027
- Samsung, Waveform Lighting LLC, Philips, LumiGrow, Nichia, Bridgelux, Inc., Avnet, Nexsel, Illumitex, and SST Lighting, among others, are key players in the horticulture-led lighting market
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Type Outlook (Revenue, USD Billion, 2022-2027)
- Infrared (880 nm & 935 nm)
- Red (660 nm)
- Blue (470 nm)
- Red + White (600 to 700 nm)
- Others
Crop Type Outlook (Revenue, USD Billion, 2022-2027)
- Fruits & Vegetable
- Floriculture
- Cannabis
- Others
Application Type Outlook (Revenue, USD Billion, 2022-2027)
- Greenhouses
- Vertical Farms
- Indoor Farms
Regional Outlook (Revenue, USD Billion, 2022-2027)
North America
- The U.S.
- Canada
- Mexico
Europe
- Germany
- UK
- France
- Spain
- Italy
- Netherlands
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Thailand
- Indonesia
- Malaysia
- Singapore
- Vietnam
- Rest of APAC
Central & South America
- Brazil
- Argentina
- Chile
- Rest of CSA
Middle East & Africa
- Saudi Arabia
- UAE
- Israel
- South Africa
- Rest of MEA
Contact: Yash Jain
Email address: yash.jain@globalmarketestimates.com
Phone Number: +1 6026667238
