• October 18, 2018

$6.2 Billion Horticulture Lighting Market by Technology, Application, Cultivation, Lighting Type, Offering, and Region - Global Forecast to 2023 - ResearchAndMarkets.com - Odessa American: Business

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$6.2 Billion Horticulture Lighting Market by Technology, Application, Cultivation, Lighting Type, Offering, and Region - Global Forecast to 2023 - ResearchAndMarkets.com

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Posted: Monday, September 24, 2018 6:02 am | Updated: 6:31 am, Mon Sep 24, 2018.

DUBLIN--(BUSINESS WIRE)--Sep 24, 2018--The "Horticulture Lighting Market by Technology, Application, Cultivation, Lighting Type, Offering, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

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, availability of limited agriculture land, 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.

Retrofitting traditional light sources with LED grow lights and increasing awareness about vertical and indoor farming are the major opportunities in the horticulture lighting market. On the other hand, the high cost of energy-efficient LED grow light technologies, and the feasibility of cultivating a limited number of crop species using horticulture lights are the major challenges for the market players.

Critical questions that the report answers:

Where will all the current developments take the industry in the mid-to-long term?Will the suppliers continue to explore new avenues in the horticulture lighting market?What are the upcoming products and technologies in horticulture lighting?

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Industry Trends

7 Horticulture Lighting Market, By Offering

8 Horticulture Lighting Market, By Technology

9 Horticulture Lighting Market, By Lighting Type

10 Horticulture Lighting Market, By Cultivation

11 Horticulture Lighting Market, By Application

12 Geographic Analysis

13 Competitive Landscape

14 Company Profiles

Signify (Philips Lighting)Gavita Holland B.V.GE LightingOSRAMAgroluxHeliospectraHortilux Schreder B.V.LumiledsPARsourceIllumitexHubbellMaxigrowBridgeluxEye HortiluxLumiGrowAXP TechnologyFluence BioengineeringShenzhen Sanxinbao Semiconductor Lighting (Evergrow)ValoyaOreonEconoluxFor more information about this report visit

https://www.researchandmarkets.com/research/42b9p3/6—2—billion?w=4

View source version on businesswire.com:https://www.businesswire.com/news/home/20180924005433/en/

CONTACT: ResearchAndMarkets.com

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Related Topics:Agriculture,Lighting Equipment,Landscaping Services

KEYWORD:

INDUSTRY KEYWORD: TECHNOLOGY HARDWARE NATURAL RESOURCES AGRICULTURE

SOURCE: Research and Markets

Copyright Business Wire 2018.

PUB: 09/24/2018 07:02 AM/DISC: 09/24/2018 07:02 AM

http://www.businesswire.com/news/home/20180924005433/en

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