The horticulture lighting market in Europe is expected to grow from US$ 991.1 million in 2019 to US$ 3767.9 million by 2027; it is estimated to grow at a CAGR of 18.8 % from 2020 to 2027.Horticulture lighting is an artificial light used to facilitate photosynthesis. This process is beneficial in areas where adequate sunlight is absent. Horticulture lighting also enhances the growth of plants by illuminating them with artificial light. Horticulture's LED lighting technology is gaining traction in the market due to its numerous advantages, such as low power consumption and existing technologies, which enable lower energy costs. Horticultural lighting is used in urban agriculture, multi-layer cultivation, supplemental lighting, and daylight-free cultivation. Due to increasing awareness of sustainable farming, researchers, governments, and organizations have taken initiatives to improve horticulture with efficient and adequate lighting.
Some of the companies competing in the Europe Horticulture Lighting Market are
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Europe Horticulture Lighting Market Segmentation
In terms of type, the rotary Horticulture Lighting segment accounted for a larger share of the SAM Horticulture Lighting market in 2019. In terms of technology, the magnetic segment held the largest share of the Horticulture Lighting market in 2019. Further, the consumer electronics segment held the largest share of the market based on end-user in 2019.
What questions does the Europe Horticulture Lighting Market report answer about the regional reach of the industry
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