Agricultural lighting market projected to reach USD 33.17 billion by 2032, driven by LED technology.
From GlobeNewswire: 2025-04-25 09:15:00
The Agricultural Lighting Market was valued at USD 11.60 billion in 2023 and is projected to reach USD 33.17 billion by 2032, with a CAGR of 12.42%. This growth is driven by the adoption of controlled-environment farming, increasing demand for energy-efficient solutions, and advancements in LED technology to meet the needs of a growing global population.
LED lighting dominates the agricultural lighting market, holding a 63.4% share in 2023 due to its energy efficiency and ability to optimize light spectra for plant growth. Fluorescent lighting is expected to see significant growth from 2024-2032, driven by improvements in efficiency and cost-effectiveness, especially in developing countries.
New installations led the market in 2023, capturing 56.2% of the share, fueled by the growth of greenhouses and vertical farming. Retrofit installations are expected to grow rapidly from 2024-2032 as existing farms upgrade to energy-efficient LED solutions. The horticulture sector led the market in 2023, with a 62% share, driven by the adoption of LED and smart lighting technologies for enhanced plant growth.
Europe leads the agricultural lighting market with a 35.8% share in 2023, focusing on sustainable agriculture and greenhouse farming. Asia-Pacific is poised for rapid growth from 2024-2032, with countries like China, Japan, and India investing in urban farming and smart lighting systems. Notable developments include Heliospectra’s launch of advanced LED solutions for optimized crop growth and efficiency.
Government support and subsidies for sustainable farming practices are accelerating market growth, with the U.S. Agricultural Lighting Market projected to grow at a CAGR of 12.19%. Smart lighting systems in the livestock sector are enhancing animal health and productivity. The market is driven by a shift towards sustainable farming practices and energy-efficient lighting solutions to improve crop and livestock yields.
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