Asia-Pacific Horticulture Lighting Market, By Offering (Hardware, Software & Services), Deployment (Turnkey, Retrofit), Technology (Fluorescent Lamps, HID Lights, LED Lights, Other), Lighting Type (Toplighting, Interlighting), Cultivation (Fruits & Vegetables, Floriculture), Application (Greenhouses, Vertical Farming, Indoor Farming, Others), Country (China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific) Industry Trends and Forecast to 2027
Market Analysis and Insights: Asia-Pacific Horticulture Lighting Market
Asia-Pacific horticulture lighting market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with highest a CAGR of 18.7% in the forecast period of 2020 to 2027 and expected to reach USD 4,438.73 million by 2027 from USD 1,123.08 million in 2019. Increasing population and urbanization in Asia-Pacific region is fuelling the market growth.
Horticulture lighting allows the cultivation of the plants without any need of daylight through providing them artificial lights for the photosynthesis process in plants. The LED lights are the advanced technology which is used in the horticulture industry as it offers easy installations and low-cost solutions to the customer.
Asia-Pacific region is the most populated area in the world. Implementing horticulture lighting to increase the production of crops could be an efficient way for Asian food growers. LED makers in China, Korea, Taiwan and Japan have reported their growth by developing special LEDs for horticultural applications. In addition to this, companies operating in the Asia-pacific region are also taking initiatives to bolster the market growth. For instance, Foxconn has turned an old plant into one of China's largest vertical plant factories with an area of 5000 square metres. The plant factory has 14 levels of growing racks and the installed LED lighting devices and hydroponic system which can produce 2 to 5 tons of vegetables per day. These types of developments are supporting the growth of the horticulture lighting market in Asia-Pacific region.
This horticulture lighting market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Asia-Pacific Horticulture Lighting Market Scope and Market Size
Horticulture lighting market is segmented on the basis of offering, deployment, lighting type, cultivation, technology and application. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
Asia-Pacific Horticulture Lighting Market, By Application
On the basis of offering, the market is segmented into hardware, software, and services. The hardware segment is dominating the market as the indoor and vertical farming technology has the basic requirement of hardware for the cultivation of crops and to build indoor and vertical farms
On the basis of deployment, the market is segmented into turnkey solutions and retrofit solutions. The turnkey solution has the largest market share in forecast period because this offers enhanced crop yields to growers due to which growers can get more yield in less time span.
On the basis of lighting type, the market is segmented into toplighting, interlighting, photoperiodic lighting, supplemental lighting and sole-source lighting. Toplighting is the growing segment in the lighting type as the toplighting gives more feasibility in the indoor and vertical farming technology for the cultivation of crops. This type of lighting gives perfect amount of spectrum of light required for the crop cultivation.
On the basis of cultivation, the market is segmented into fruits, vegetables and floriculture. Vegetable segment is expected to dominate the horticulture lighting market as the rising demand for the fresh vegetables and fruits has tend to increase the production of these vegetables.
On the basis of technology, the market is segmented into high-intensity discharge (HID), fluorescent and others. The high-intensity discharge (HID) has reported with maximum share as it gives maximum yield by producing perfect UV rays intensity which helps the crops to develop photosynthesis process resulting in better crop growth at indoor location
On the basis of application, the market is segmented into greenhouses, vertical farming, indoor farming and others. Indoor farming is dominating the market as it is most preferable method of cultivation. Indoor farming or urban farming is the method of crop cultivation entirely in the indoor conditions. This farming method often utilizes crop growing methods such as aeroponics, hydroponics which uses artificial light to supply the essential nutrients and light concentrations needed for the growth of crops. Indoor farming is being used on a larger scale to bolster the demand of local food supply.
Asia-Pacific Horticulture Lighting Market Country Level Analysis
Horticulture lighting market is analysed and market size information is provided by country, by offering, deployment, lighting type, cultivation, technology, application as referenced above.
The countries covered in the horticulture lighting market report are Japan, China, South Korea, India, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, and Rest of Asia-Pacific in Asia-Pacific.
Horticulture lighting market is rising due to the increasing awareness about healthy lifestyle and growing demand of organic food in the forecast period of 2020 to 2027.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of regional brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
New Product and Technology Launch by Lighting Manufacturers in Horticulture Lighting Market
Asia-Pacific horticulture lighting market also provides you with detailed market analysis for every country growth in installed base of different kind of products for horticulture lightings market, impact of technology using life line curves and their impact on the horticulture lighting market. The data is available for historic period 2010 to 2018.
Competitive Landscape and Horticulture Lighting Market Share Analysis
Asia-Pacific horticulture lighting market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, clinical trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to Asia-Pacific horticulture lighting market.
The major players covered in the report are OSRAM GmbH, EVERLIGHT, HELIOSPECTRA AB, Signify Holding among other domestic and local players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
- In March 2018, EVERLIGHT ELECTRONICS CO., LTD introduced its 5630X-ELB LED range and match LEDs for horticulture as well as other lighting products such as fish and horticulture lighting luminaires. These lights have benefits such as luminous stabilization and effectiveness in order to provide the finest alternative for business, professional and industrial apps. This development will help the company to enhance their product portfolio.
- In October 2017, Osram Opto Semiconductors, Cezos, ICT Suedwerk, Mechatronix, Cezos and LEDiL have developed horticultural LED development kit to allow product developers to try solid-state lighting (SSL) alternative to high-pressure sodium (HPS) for horticulture LED applications. This will further help the company to increase their product range and attracts more customers through their wide product range.
Such type of product launches helps the companies to offer wide products to its customers. It also provides the benefit for organisation to improve their offering for horticulture lightings through expanded model range
Customization Available : Asia-Pacific Horticulture Lighting Market
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