Horticulture Lighting Market

Market Leadership - Horticulture Lighting Market

The overall horticulture lighting market is estimated to grow from USD 2.43 billion in 2018 to USD 6.21 billion by 2023, at a CAGR of 20.61% from 2018 to 2023. The rapid population growth and availability of limited agriculture land, a steady supply of crops despite unfavorable weather conditions for farming across geographies, government initiatives to support adoption of energy-efficient LEDs in horticulture, increased year-round high-quality yield, and legalization of cannabis for medicinal purposes are the major driving factors for the horticulture lighting market growth.

The horticulture lighting market in 2017 was mainly dominated by Signify (Philips Lighting) (Netherlands), Gavita (Netherlands), GE Lighting (US), Osram (Germany), and Agrolux (Netherlands). These companies considered among the top players based on their market presence, client/customer base, revenues, and key developments related to product developments, geographical footprint, company strategies, partnerships, agreements, and collaborations in the horticulture lighting market in 2017. A few major strategies adopted by these players to compete in the horticulture lighting market were product developments, partnerships, collaborations, and agreements.

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Signify (Philips Lighting) ranked first in the overall horticulture lighting market in 2017. The company was established in 1891 and is headquartered in Eindhoven, Netherlands. The company is a major player in the lighting manufacturing market. Signify has taken the initiative to develop horticulture lighting technologies by partnering with Light4Food, Dummen Orange, and the University of Arizona. In April 2018, the company launched Philips GreenPower LED toplighting, which is the spectrum-optimized product for cut rose cultivation. The company has a very strong product branding in the market. In March 2016, Signify (Philips Lighting) collaborated with the Controlled Environment Agriculture Center (CEAC) of the University of Arizona for developing effective techniques for astronauts to grow food in space. Moreover, in July 2015, Signify introduced the GreenPower LED toplighting extension. Compared to conventional HPS lamps, LED toplighting produces less radiation heat. This would benefit growers in growing better crops. The company is focusing on both organic and inorganic strategies to maintain its top position in the horticulture lighting market.

Gavita Holland ranked second in the horticulture lighting market. The company was established in 2009 and is headquartered in Aalsmeer, Netherlands. Gavita has an extensive product portfolio in the horticulture lighting field apart from electric, electromagnetic, and plasma fixtures, reflectors, and lamps. In November 2016, the company introduced the Pro 1000e DE 277–347 professional fixture. This product is specially designed for industrial 3-phase systems, and it also supports safety measures such as automatic shutdown at climate control failures and dimming on high temperature. In October 2015, Gavita Holland introduced a master controller booster B200. It enables the expansion of fixtures. Customers can add multiple controllers to get more output ports by using this booster. The company also has developed partnerships with General Electric (US), Signify (Philips Lighting) (Netherlands), and Osram Licht AG (Germany), which is helping it in introducing improved lighting equipment. Apart from offering grow light systems and related accessories, Gavita also provides lighting plans for hobbyists and commercial growers for precise light measurement. The company was acquired by Hawthorne, the New York-based subsidiary of Scott Miracle-Gro. The company has adopted both organic and inorganic strategies to maintain its position in the market.

Related Reports:

Horticulture Lighting Market by Technology (Fluorescent, HID, and LED), Application (Greenhouses, Vertical Farming, and Indoor Farming), Cultivation (Fruits & Vegetables and Floriculture), Lighting Type, Offering, and Region - Global Forecast to 2023

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