Products and offerings in global horticulture lighting market are specifically designed for providing certain intensity and spectrum of light to the crops. These lights ensure that the plants, crops, flowers, vegetables, or fruits are getting enough and accurate amount of light that promotes healthy plant growth. Products in global horticulture lighting market can be used to artificially provide light to facilitate photosynthesis for plant cultivation in spaces where direct sunlight is not accessible. Rising awareness regarding the high yield and fast growth inducing benefits of the lighting solutions and increasing demand for applications in vertical and indoor farming are boosting the global horticulture lighting market. However, high cost associated with the one time only installation of these lights can impede the growth of global horticulture lighting market in coming years.
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Europe anticipated to Dominate Horticulture Lighting Market in Near Future
The global horticulture lighting market is considered to be moderately fragmented with very little space for new players to enter the market. Some of the major players in global horticulture lighting market are Gavita Corporation, Osram GmbH, Heliopectra AB Corporation, Lumileds limited, Illumitex Limited, Samsung, Cropmaster LED, Dicon Lighting, Everlight Incorporation, Maxigrow Limited, Eye Hortilux, Edison Opto Corporation, Future LED GmbH, Agrolux Limited, TESLUX Lighting Systems Private Limited, Forge Europe, and TE Connectivity Limited. Players and manufacturers in global horticulture lighting market are focusing on expansions, joint ventures, strategic alliances, product upgradations, mergers and acquisitions, new product launches, and developing automation technologies to secure the largest market share in coming years. For example, a company called ‘Heliospectra AB Corporation’ included a high voltage 600W adjustable spectrum light for application in indoor horticulture spaces. The product is known as ‘ELIXIA’ and fulfills the company’s aim of expanding their current product portfolio of LED solutions.
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Europe is anticipated to dominate the global horticulture lighting market in coming years owing to rising utilization of horticulture lighting in various application areas such as urban cultivation, vertical farming, green houses, and indoor farming. Another factor boosting the growth of Europe global horticulture lighting market is increasing adoption of agricultural automation practices in the region.