Asia Pacific Horticulture Lighting Market Forecast to 2027 by Technology, Application, and Cultivation

The horticulture lighting market in APAC is expected to grow from US$ 663.7 million in 2019 to US$ 3147.5 million by 2027; it is estimated to grow at a CAGR of 22.1 % from 2020 to 2027.

The APAC horticulture lighting market is segmented based on technology, application, cultivation, and country. Based on technology, the market is segmented into LED lights, high-intensity discharge (HID) lights, and fluorescent lamps. LED lights segment led the APAChorticulture lighting market in 2019, and is anticipated to grow at the highest CAGR during the forecast period. In terms of application, the market is segmented into greenhouses, vertical farming, and indoor farming. The greenhouses segment held the largest market share in 2019 and the vertical farming segment is anticipated to grow at the fastest CAGR during the forecast period. Based on cultivation, the market is segmented into fruits and vegetables, and floriculture. The fruits and vegetable segment is expected to dominate the market due to an increase in demand for fresh vegetables.

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General Electric Company; Heliospectra AB; Hubbell, Inc.; Lumileds Holding B.V.; OSRAM Licht AG; Signify N.V.are among the leading companies in the APAChorticulture lighting market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Osram Opto Semiconductors announced two new LED families for horticulture lighting. A phosphor-converted purple LED delivers the blue and red spectral energy that’s conducive to photosynthesis; a new white LED delivers enhanced far-red energy.

The report segments the APACHorticulture Lighting Market as follows:

APAC Horticulture Lighting Market – By Technology

•        LED Lights
•        High-Intensity Discharge Lights
•        Fluorescent Lamps

APAC Horticulture Lighting Market – By Application

•        Greenhouses
•        Vertical Farming
•        Indoor Farming

APAC Horticulture Lighting Market – By Cultivation

•        Fruits and Vegetables
•        Floriculture

APAC Horticulture Lighting Market – By Country

•        Australia
•        China
•        India
•        Japan
•        South Korea
•        Rest of APAC

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