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Horticulture Lighting Market Share

Report ID: GMI7134
Published Date: Apr 2024
Report Format: PDF

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Horticulture Lighting Market Share

Players operating in the horticulture lighting industry focus on implementing different growth strategies to strengthen their offerings and expand their market reach. These strategies involve new product developments & launches, partnerships & collaborations, mergers & acquisitions, and customer retention. These players also heavily invest in research & development to introduce innovative and technologically advanced solutions in the market.

Horticulture Lighting Market Companies

Some of the major players operating in the industry are mentioned below:

Signify Holding (Philips)
OSRAM GmbH
Samsung Electronics Co. Ltd.
Lumileds Holding BV
Everlight Electronics Co. Ltd.
Gavita International BV
Heliospectra AB

Authors: Suraj Gujar , Sandeep Ugale

Frequently Asked Questions (FAQ) :

The market size for horticulture lighting was valued at Over USD 6.5 billion in 2023 and is anticipated to grow at a CAGR of over 16.1% between 2024 and 2032 as it plays a critical function in increasing agricultural productivity.

The Light-Emitting Diode (LED) segment accounted for over 30% market share in 2022, as they are highly energy-efficient and produce minimal heat, with benefits like reduced operational costs, longer lifespan, lower maintenance and replacement costs.

North America dominated the global horticulture lighting market with a share of over 30% in 2022, backed by the surge in Controlled Environment Agriculture (CEA), including vertical farming and greenhouse cultivation, alongside the increasing emphasis on sustainable and energy-efficient farming practices.

Signify Holding (Philips), OSRAM GmbH, Samsung Electronics Co. Ltd., Lumileds Holding BV, Everlight Electronics Co. Ltd., Gavita International BV, and Heliospectra AB.