The Horticulture Lighting Market was valued at USD 4.60 billion in 2024 and is projected to reach USD 23.08 billion by 2032, growing at a CAGR of 22.34% over 2025-2032. Demand for year-round crop production is driving market growth globally, with LED-based horticulture lights saving power costs and increasing efficiency in controlled environment agriculture.

Hardware dominates the horticulture lighting market, accounting for 91.4% share in 2024, driven by the rising installation of LED fixtures, ballasts, and control units. LED technology leads with an 80.3% share, offering energy efficiency and spectral flexibility. Greenhouses hold a 43.2% share, supporting consistent crop production in all seasons.

North America led the Horticulture Lighting Market in 2024, with a 39% global share, driven by advanced indoor farming practices. Asia Pacific accounted for 29.4% of the market, emerging as a fast-growing region due to urban farming expansion and government initiatives promoting sustainable agriculture.

In 2024, Signify and Heliospectra made strides in sustainability and innovation, with Signify’s Climate Transition Plan aiming to cut emissions by 90% and Heliospectra launching customizable LED fixtures for higher yields. Exclusive sections of the report offer insights on photosynthetic efficiency, energy consumption, lifespan reliability, spectrum customization, and technological performance metrics.

SNS Insider is a market research and consulting agency providing up-to-date market data and insights to help clients navigate changing circumstances. Their research methods include surveys, video talks, and focus groups to deliver accurate consumer insights for confident decision-making in the global market.

Read more at GlobeNewswire: Horticulture Lighting Market Size to Exceed USD 23.08