From GlobeNewswire: 2024-08-02 12:00:00

The Global Agricultural Lighting Market is expected to grow from USD 11.4 billion in 2023 to USD 35.83 billion by 2033, with a CAGR of 12.1%. LED lights are revolutionizing plant growth, affecting growth traits, and enhancing plant development. LED technology offers sustainability benefits and the potential to reduce carbon footprints in agriculture.

The LED segment is expected to dominate the global agricultural lighting market, stimulating plant development and being used in various farming methods. Retrofitting light fixtures with LED grow lights reduces energy consumption and maintenance costs. The horticulture segment is predicted to have the highest revenue share, driven by increased fruit, vegetable, and floriculture cultivation.

Europe is anticipated to lead the global agricultural lighting market due to its extensive greenhouse coverage and thriving livestock industry. Asia Pacific is expected to grow rapidly, with large agricultural economies driving demand for lighting solutions. Major vendors in the market include Agrolux, Valoya, LumiGrow, and others, with recent developments focusing on innovative lighting solutions for improved plant growth and sustainability.

In July 2024, Photosynthetic, a provider of agricultural lighting systems, is launching a dynamic grow light designed for the Controlled Environment Agriculture (CEA) market, promoting sustainability and energy efficiency. The market is segmented based on light source, installation, and application, with regions including North America, Europe, Asia Pacific, and more.



Read more at GlobeNewswire: Global Agricultural Lighting Market Size To Worth USD 35.83