Horticulture Lighting Market

Signify (Netherlands) and OSRAM GmbH (Germany) are Leading Players in the Horticulture Lighting Market

The global horticulture lighting market is projected to grow from USD 3.1 billion in 2022 to USD 9.4 billion by 2027; it is expected to grow at a CAGR of 24.5% from 2022 to 2027. The key factors fueling the growth of this market include strong government initiatives to promote the adoption of controlled-environment agriculture (CEA) practices and SSL technology, high demand for fresh produce in quick time owing to population growth and loss of arable land, increased funding to build vertical farms and greenhouses, and ongoing legalization of Cannabis cultivation.

The horticulture lighting market is dominated by key global established players such as Signify  (Netherlands), OSRAM GmbH (Germany), Gavita (Netherlands), Valoya (Finland), California Lightworks (US), Helliospectra AB (Sweden), LumiGrow Inc. (US), Hortilux Schréder (Netherlands), Eye Hortilux (US), ILUMINAR Lighting (US), GE Current, A Daintree Company (US), PARsource (US), GE Lighting, A Savant Company (US), Hubbell (US), and Agrolux (Netherlands). These companies focus on adopting both organic and inorganic growth strategies, such as product launches and developments, partnerships, contracts, expansions, and acquisitions to strengthen their position in the market.

To know about the assumptions considered for the study download the pdf brochure

Signify (Netherlands) is a recognized brand in the lighting and illumination business; it offers a diversified product portfolio for horticulture applications. The company has developed innovative products to cater to the customers from the horticulture lighting market by combining its expertise in lighting technologies with inputs from plant psychologists. Its products come in a variety of shapes, with a range of lumen outputs that are offered at various price points to suit the requirements of a wide range of growers, from hobbyists to commercial growers. Various factors, such as the increasing focus of consumers on indoor cultivation and vertical farming and ongoing government initiatives to adopt energy-efficient lighting, will create growth opportunities for these products.

The recent collaborations and partnerships of Signify with local vegetable growers and agriculture-based research institutes are expected to strengthen its position in the horticulture lighting market. For instance, in May 2021, Signify collaborated with Sweden-based pioneer of vertical farming, Ljusgarda, to help the latter expand its productivity with the help of its high-tech solutions, such as greenhouse LED production modules and GrowWise Control SystemSignify offers its horticultural lighting solutions in all key markets globally with the help of its global distribution and servicing capabilities.

OSRAM (Germany) is known for developing superior quality products for its target markets. In June 2021, Osram expanded its horticulture lighting portfolio with the launch of Osconiq S 5050. It addresses a key problem of used white LEDs resulting in lower energy costs and more efficient lighting for indoor farmers. The company also focuses on inorganic growth strategies such as partnership. For instance, in September 2020, Fluence by OSRAM, a leading global provider of energy-efficient LED lighting solutions for commercial cannabis and agriculture production, announced that it has partnered with The Lamphouse, the largest supplier of specialized lamps in Africa. With more than 40 years of experience in numerous specialty lighting sectors, The Lamphouse is Fluence’s exclusive partner serving South Africa’s professional horticulture stores and fulfilling large commercial cannabis projects. These steps are expected to significantly help the company maintain its dominant position in the horticulture lighting market. With its stronghold in electronic components and connectivity space, the company can dominate the IoT segment within the horticulture lighting market. OSRAM can further explore software-as-a-service (SAAS) opportunities and big data to aggregate and analyze sensor data from its all installation points.

Another important player in the horticulture lighting market is Gavita (Netherlands), a strong market player in assimilation lighting for professional horticulture and indoor growing applications. It is a well-known brand for electric, electromagnetic, and plasma fixtures used in horticulture applications. The company conducts extensive research and development activities for its products by working with commercial greenhouse operators in the Netherlands. It focuses on product launches to sustain its position in the horticulture lighting market. For instance, in June 2019, Gavita launched a 750 W double-ended fixture and lamp. Similarly, in January 2018, the company introduced a new wattage HPS grow light, Gavita Pro750e. It partnered with General Electric Company (US), Signify (Netherlands), and OSRAM (Germany) to offer improved lighting equipment to growers. Apart from offering grow light systems and related accessories, Gavita also provides lighting plans to hobbyists and commercial growers for precise light measurements.

Other major players in the horticulture lighting market are mainly focusing on acquisitions and partnerships along with new product launches to achieve continuous and sustainable development.

Related Reports:

Horticulture Lighting Market with COVID-19 Impact Analysis by Technology (Fluorescent, HID and LED), Application (Greenhouses, Vertical Farms, Indoor Farms), Cultivation, Lighting Type, Offering, Installation and Region - Global Forecast to 2027

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

Report Code
SE 6606
RI Published ON
2/28/2022
Choose License Type
BUY NOW
  • SHARE
X
Request Customization
Speak to Analyst
Speak to Analyst
OR FACE-TO-FACE MEETING
PERSONALIZE THIS RESEARCH
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
REQUEST A FREE CUSTOMIZATION
LET US HELP YOU!
  • What are the Known and Unknown Adjacencies Impacting the Horticulture Lighting Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
REQUEST A FREE WORKSHOP
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
+1-888-600-6441
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
©2022 MarketsandMarkets Research Private Ltd. All rights reserved