The Global Agricultural Lighting Market size is expected to reach $26.7 billion by 2030, rising at a market growth of 12.5% CAGR during the forecast period

The European region is one of the leading regions in widely deploying agricultural lighting due to the availability of a large proportion of farming land. Consequently, Europe would acquire more than 29% share of the market by 2023.

New York, Aug. 01, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Agricultural Lighting Market Size, Share & Industry Trends Analysis Report By Installation, By Light Source, By Wattage Type, By Sales Channel, By Offering, By Application, By Regional Outlook and Forecast, 2023 - 2030" - https://www.reportlinker.com/p06481129/?utm_source=GNW Agriculture is an industry that employs a significant portion of the local workforce in this region. Moreover, the growth of the regional market is due to the increasing adoption of agricultural lighting technology like Controlled Environment-Agriculture, which controls the environmental component. Some of the factors impacting the market are widely utilization of LED lighting fixtures in a controlled agricultural environment, Year-round crop production without consideration to the weather conditions, and significant need for diverse light wavelengths for various crops.For plants to thrive and grow, there must be enough light with the right spectral spectrum to trigger photosynthesis. The plant’s growth, development, and blossoming depend on various wavelengths. For plants to flourish, the time they are exposed to light is important. This means that the "natural daytime" can be extended with artificial light, leading to stronger development and bud formation. These elements are essential in the rising demand for LED grow lights in the market. The benefits of CEA and its capacity to assist in crop production all year, despite weather conditions, have expanded its acceptance in regions where the climate does not allow conventional farming. For instance, due to a lack of agricultural land and unfavorable weather, European nations import a significant portion of their fresh food requirements. In various nations around the world, changes in temperature and rainfall patterns could reduce agricultural productivity. As a result, all these factors are predicted to lead to a rise in the market in the forecasted time period.However, light’s multiple characteristics, including wavelength, intensity, duration, and direction, can affect how a plant grows and develops. The wavelength range between 400 to 750 nm, which includes red, orange, yellow, green, blue, indigo, and violet light, is typically used by plants. This is a significant challenge that may affect market growth significantly.Offering OutlookBased on offering, the market is segmented into hardware, software, and services. In 2022, the hardware segment dominated the market with the maximum revenue share. The enormous number of hardware elements, such as lighting fixtures (lamps, luminaires) and lighting controls necessary to set up any agricultural lighting system, be it in an application, horticulture, livestock, or aquaculture, is what is credited to the hardware offering.Light source OutlookOn the basis of light source, the market is classified into fluorescent, HID, LED, and others (xenon, plasma, and induction lighting). In 2022, the LED segment held the highest revenue share in the market. The market is quickly switching from traditional lighting systems to LED lighting technologies. The use of LED technology in agriculture is still heavily influenced by energy efficiency, in addition to the advantages of low heat, a long lifespan, lightweight, and improved controllability.Wattage Type OutlookBased on wattage type, the market is fragmented into below 50w, 50-150w, and above 150w. In 2022, the 50-150w segment recorded a remarkable revenue share in the market. Due to the nature of the crops being cultivated, lighting solutions for agricultural applications usually need lower power. Numerous plant species require medium light intensity, particularly leafy greens, herbs, and young seedlings. The 50W-150W segment provides adequate light output for these crops without using excessive energy or producing heat. Because they use less energy, lighting systems with lower wattages use less money and electricity.Installation OutlookBy installation type, the market is categorized into new, and retrofit. In 2022, the retrofit segment covered a considerable revenue share in the market. Commercial greenhouses, vertical farms, and animal facilities can reduce energy usage and maintenance expenses by updating lighting systems. Low operating expenses are the consequence, as grow lights must operate for between 14 to 18 hours each day, depending on the type of plant being grown.Sales channel OutlookBased on sales channel, the market is segmented into retail/wholesale, direct sales, and online/e-commerce. The online/e-commerce segment projected a prominent revenue share in the market in 2022. The wide range of products available, ease of use & accessibility to each buyer, remote availability of product specifications & information, and the ability to compare that include products for cost-effective purchasing.Application OutlookBy application, the market is classified into horticulture, livestock, and aquaculture. In 2022, the horticulture segment projected a prominent revenue share in the market. Horticulture lighting provides artificial light to plants in order to promote, maintain, and facilitate their growth. Horticulture lighting enhances photosynthesis by supplementing natural daylight and raising growth light levels, which benefits plant growth and quality.Regional OutlookRegion wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the Asia Pacific region held the highest revenue share in the market. The Asia Pacific region, which includes nations like China, India, Japan, and Southeast Asian countries, has some of the largest agricultural economies in the world. Strong agricultural sectors in these nations contribute significantly to their national economies. Large-scale agricultural operations in the region create a high demand for agricultural lighting solutions, which results in a sizable market share. Due to the wide range of lighting requirements for the numerous crops grown throughout the region, there are significant growth prospects for the market.The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Signify N.V., ams-OSRAM AG, Tetra Laval International S.A. (DeLaval), Heliospectra AB, Valoya Oy, California LightWorks (MWW Inc.), Gavita International B.V., Hortilux Schréder (Dool Industries), and CBM Lighting, Inc.Strategies Deployed in Agricultural Lighting MarketJun-2023: ams OSRAM unveiled OSLON® Square Hyper Red LED, designed to provide faster plant growth and allow optimized system cost. The launched product is intended for utilization in all horticultural lighting applications consisting of greenhouse top lighting and inter lighting, sole source lighting, and vertical farming applications.Mar-2023: Signify took over Intelligent Lighting Controls, Inc., a US-based manufacturer of wired control systems. The acquisition adds a well-established technology and competitive portfolio to fuel the uptake of energy-saving solutions in the attractive North American market.Jan-2023: California LightWorks announced a partnership with Virex Technologies, a company engaged in providing different services based on the requirements of each client for professional horticultural projects. Under this partnership, both companies aim to broaden European distribution. Moreover, the partnership enables California LightWorks to bring its unique, patented MegaDrive® technology to the quickly broadening European market for grow lights.May-2022: ams OSRAM introduced OSLON® Optimal family of LEDs, based on the latest ams OSRAM 1mm2 chip for horticulture lighting, that provides a combination of high efficiency, great value, and reliable performance. The product is available in Far Red and Hyper Red colors.Mar-2022: Signify took over Fluence, a leading global supplier of energy-efficient LED lighting system solutions. This acquisition bolsters Signify’s global Agriculture lighting growth medium and extends its role in the North American horticultural lighting market. Additionally, firms would be capable to produce the world’s most advanced horticulture technology for cultivators on an international scale.Oct-2020: California LightWorks released its MegaDrive, a new professional grow light system. This system provides accurate outcomes while drastically lowering both up-front & long-term operating costs. In addition, the new system comprises a large central power unit joined to a series of up to 30 LED fixtures in a chain. High voltage three-phase power can connect directly to the central power unit, removing power drops to each fixture.Sep-2020: Valoya expanded its product line of RX-Series line of greenhouse LEDs with two new models - RX500 & RX600. These new models have been built to be strong & firm; they would produce the least shading over the canopy. With an Ingress Protection rating of IP65 (wet location), these luminaires are dust-tight & can combat spraying with water jets from any direction.Sep-2020: Valoya came into a licensing agreement with Citizen Electronics, a top developer of electronic devices & applied products. Under this agreement, Citizen Electronics would take Valoya’s LED spectrum portfolio into use. This spectrum would be all the revolution, as high-quality light creates high-quality plants. Both companies are looking forward to watching their COB LED products with the spectrum reach the market & benefit the growers from Valoya’s spectra.Mar-2020: Signify extended its collaboration with Planet Farms, a leading European operator of vertical farms based in Italy. Under this agreement, Europe’s largest vertical farm would fuel the quality & yield of the crops with the use of the Philips GreenPower LED production module handled by the Philips GrowWise Control System. Signify’s latest horticultural LED innovation for vertical farming, would aid growers optimize multilayer crop cultivation.Scope of the StudyMarket Segments covered in the Report:By Installation• New• RetrofitBy Light Source• LED• Fluorescent• HID• OthersBy Wattage Type• Below 50W• 50 - 150W• Above 150WBy Sales Channel• Retail/Wholesale• Direct Sales• Online/E-commerceBy Offering• Hardware• Software• ServicesBy Application• Livestock• Horticulture• AquacultureBy Geography• North Americao USo Canadao Mexicoo Rest of North America• Europeo Germanyo UKo Franceo Russiao Spaino Italyo Rest of Europe• Asia Pacifico Chinao Japano Indiao South Koreao Singaporeo Malaysiao Rest of Asia Pacific• LAMEAo Brazilo Argentinao UAEo Saudi Arabiao South Africao Nigeriao Rest of LAMEACompanies Profiled• Signify N.V.• ams-OSRAM AG• Tetra Laval International S.A. (DeLaval)• Heliospectra AB• Valoya Oy• California LightWorks (MWW Inc.)• Gavita International B.V.• Hortilux Schréder (Dool Industries)• CBM Lighting, Inc.Unique Offerings • Exhaustive coverage• Highest number of market tables and figures• Subscription based model available• Guaranteed best price• Assured post sales research support with 10% customization freeRead the full report: https://www.reportlinker.com/p06481129/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.__________________________