Europe Horticulture Lighting Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Technology (Fluorescent Lamps, High Intensity Discharge Lights, and LED Lights), Application (Greenhouses, Vertical Farming, and Indoor Farming), and Cultivation (Fruits and Vegetables and Floriculture)
Market Introduction
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. Increase in demand for advanced lighting-related technologies is expected to boost the growth of the Europe horticulture lighting market. Various Companies have started to support the farmers by providing financial and technical support to establish vertical farms. Such developments in vertical agriculture are boosting the growth of the Europe horticulture lighting market. Factor like the surge in government initiatives and rising population and advancements in greenhouse and indoor farming approaches is expected to create a significant demand for horticulture lighting in the coming years, which is further anticipated to drive the Europe horticulture lighting market. Moreover, in case of COVID-19, Spain, Italy, Germany, UK, and France are some of the worst affected member states in the European region. Businesses in the region face severe economic difficulties as they had to suspend their operations or substantially reduce their activities. In the region, imports of produce from countries such as China, India, and South Africa have slowed owing to this pandemic. But Spain has increased its imports from Morocco since the start of the pandemic to guarantee the supply of fresh vegetables and fruits in Europe. Further, owing to lockdown across region, there has been a halt in business operation. Various businesses in the countries of Europe either had to suspend their operations or reduce their activities in a substantial manner which resulted in supply and demand disruptions and thus affected the sales of companies operating in the region. All these factors are expected to have a direct impact on horticulture lighting market growth in European countries.
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Market Overview and Dynamics
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. New growth prospect due to LED lighting is expected to upswing the horticulture lighting market in Europe. Increase in requirement for an energy efficient lighting system, rise in penetration of LED as a light source, and decrease in the cost of LEDs is anticipated to accelerate the demand for LED lighting in horticulture during the forecast period. Several developments in LED technology have enabled LED lighting products to penetrate efficiently; thus, offering Europe horticulture lighting market a massive potential for growth. An average LED lasts 50,000 operating hours to 100,000 operating hours or more, which is greater than fluorescent lights. Implementation of LED lighting in horticultural lighting solutions plays a crucial role in high-tech farming. Increase in demand of LED lighting as well as several developments in LED technology ultimately drive the Europe horticulture lighting market.
Key Market Segments
In terms of technology, the LED lights segment accounted for the largest share of the Europe horticulture lighting market in 2019. In terms of application, the greenhouses segment held a larger market share of the Europe horticulture lighting market in 2019. Further, the fruits & vegetables segment held a larger share of the market based on cultivation in 2019.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the horticulture lighting market in Europe are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Agrolux; General Electric Company; Heliospectra AB; Hortilux Schréder B. V; Hubbell, Inc.; Lumileds Holding B.V.; OSRAM Licht AG; Signify N.V.
Reasons to buy report
- To understand the Europe horticulture lighting market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for Europe horticulture lighting market.
- Efficiently plan M&A and partnership deals in Europe horticulture lighting market by identifying market segments with the most promising probable sales.
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form Europe horticulture lighting market.
- Obtain market revenue forecast for market by various segments from 2020-2027 in Europe region.
Europe Horticulture Lighting Market Segmentation
By Application
By Cultivation
- Fruits and Vegetables
- Floriculture
By Country
- France
- Germany
- Italy
- UK
- Russia
- Rest of Europe
Company Profiles
- Agrolux
- General Electric Company
- Heliospectra AB
- Hortilux Schréder B.V
- Hubbell, Inc.
- Lumileds Holding B.V.
- OSRAM Licht AG
- Signify N.V
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Europe Horticulture Lighting Market – By Technology
1.3.2 Europe Horticulture Lighting Market – By Application
1.3.3 Europe Horticulture Lighting Market – By Cultivation
1.3.4 Europe Horticulture Lighting Market- By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Europe Horticulture Lighting Market Landscape
4.1 Market Overview
4.2 Europe PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Europe Horticulture Lighting Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Surge in Government Initiatives
5.1.2 Rising Population and Advancements in Greenhouse and Indoor Farming Approaches
5.2 Market Restraints
5.2.1 Insufficient Awareness and High Costs Involved
5.3 Market Opportunities
5.3.1 Increase in Importance of Vertical Farming
5.4 Future Trends
5.4.1 LED Lighting to Open New Growth Prospect
5.5 Impact Analysis of Drivers and Restraints
6. Horticulture Lighting Market – Europe Analysis
6.1 Europe Horticulture Lighting Market Overview
6.2 Europe Horticulture Lighting Market – Revenue and Forecast to 2027 (US$ Million)
6.3 Market Positioning – Five Key Players
7. Europe Horticulture Lighting Market Analysis – By Technology
7.1 Overview
7.2 Europe Horticulture Lighting Market, By Technology (2019 and 2027)
7.3 LED Lights
7.3.1 Overview
7.3.2 LED Lights: Horticulture Lighting Market – Revenue and Forecast to 2027 (US$ Million)
7.4 High Intensity Discharge Lights
7.4.1 Overview
7.4.2 High Intensity Discharge Lights: Horticulture Lighting Market – Revenue and Forecast to 2027 (US$ Million)
7.5 Fluorescent Lamps
7.5.1 Overview
7.5.2 Fluorescent Lamps: Horticulture Lighting Market – Revenue and Forecast to 2027 (US$ Million)
8. Europe Horticulture Lighting Market Analysis – By Application
8.1 Overview
8.2 Europe Horticulture Lighting Market, By Application (2019 and 2027)
8.3 Greenhouses
8.3.1 Overview
8.3.2 Greenhouses: Horticulture Lighting Market – Revenue and Forecast to 2027 (US$ Million)
8.4 Vertical Farming
8.4.1 Overview
8.4.2 Vertical Farming: Horticulture Lighting Market – Revenue and Forecast to 2027 (US$ Million)
8.5 Indoor Farming
8.5.1 Overview
8.5.2 Indoor Farming: Horticulture Lighting Market – Revenue and Forecast to 2027 (US$ Million)
9. Europe Horticulture Lighting Market Analysis – By Cultivation
9.1 Overview
9.2 Europe Horticulture Lighting Market Breakdown, by Cultivation, 2019 & 2027
9.3 Fruits and Vegetables
9.3.1 Overview
9.3.2 Fruits and Vegetables Market Revenue and Forecast to 2027 (US$ Million)
9.4 Floriculture
9.4.1 Overview
9.4.2 Floriculture Market Revenue and Forecast to 2027 (US$ Million)
10. Europe Horticulture Lighting Market – Country Analysis
10.1 Overview
10.1.1 Europe: Horticulture Lighting Market, by Key Country
10.1.1.1 Germany: Horticulture Lighting Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.1.1 Germany: Horticulture Lighting Market, by Technology
10.1.1.1.2 Germany: Horticulture Lighting Market, by Application
10.1.1.1.3 Germany: Horticulture Lighting Market, by Cultivation
10.1.1.2 France: Horticulture Lighting Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.2.1 France: Horticulture Lighting Market, by Technology
10.1.1.2.2 France: Horticulture Lighting Market, by Application
10.1.1.2.3 France: Horticulture Lighting Market, by Cultivation
10.1.1.3 Italy: Horticulture Lighting Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.3.1 Italy: Horticulture Lighting Market, by Technology
10.1.1.3.2 Italy: Horticulture Lighting Market, by Application
10.1.1.3.3 Italy: Horticulture Lighting Market, by Cultivation
10.1.1.4 UK: Horticulture Lighting Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.4.1 UK: Horticulture Lighting Market, by Technology
10.1.1.4.2 UK: Horticulture Lighting Market, by Application
10.1.1.4.3 UK: Horticulture Lighting Market, by Cultivation
10.1.1.5 Russia: Horticulture Lighting Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.5.1 Russia: Horticulture Lighting Market, by Technology
10.1.1.5.2 Russia: Horticulture Lighting Market, by Application
10.1.1.5.3 Russia: Horticulture Lighting Market, by Cultivation
10.1.1.6 Rest of Europe: Horticulture Lighting Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.6.1 Rest of Europe: Horticulture Lighting Market, by Technology
10.1.1.6.2 Rest of Europe: Horticulture Lighting Market, by Application
10.1.1.6.3 Rest of Europe: Horticulture Lighting Market, by Cultivation
11. Europe Horticulture Lighting Market- COVID-19 Impact Analysis
11.1 Europe: Impact Assessment of COVID-19 Pandemic
12. Industry Landscape
12.1 Market Initiative
12.2 Merger and Acquisition
12.3 New Development
13. Company Profiles
13.1 Agrolux
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Signify N.V.
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Heliospectra AB
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Lumileds Holding B.V.
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Hortilux Schréder B.V.
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 OSRAM Licht AG
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 General Electric Company
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Hubbell, Inc.
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES
Table 1. Europe Horticulture Lighting Market – Revenue and Forecast to 2027 (US$ Million)
Table 2. Germany: Horticulture Lighting Market, by Technology –Revenue and Forecast to 2027 (US$ Million)
Table 3. Germany: Horticulture Lighting Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 4. Germany: Horticulture Lighting Market, by Cultivation –Revenue and Forecast to 2027 (US$ Million)
Table 5. France: Horticulture Lighting Market, by Technology –Revenue and Forecast to 2027 (US$ Million)
Table 6. France: Horticulture Lighting Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 7. France: Horticulture Lighting Market, by Cultivation –Revenue and Forecast to 2027 (US$ Million)
Table 8. Italy: Horticulture Lighting Market, by Technology –Revenue and Forecast to 2027 (US$ Million)
Table 9. Italy: Horticulture Lighting Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 10. Italy: Horticulture Lighting Market, by Cultivation –Revenue and Forecast to 2027 (US$ Million)
Table 11. UK: Horticulture Lighting Market, by Technology –Revenue and Forecast to 2027 (US$ Million)
Table 12. UK: Horticulture Lighting Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 13. UK: Horticulture Lighting Market, by Cultivation –Revenue and Forecast to 2027 (US$ Million)
Table 14. Russia: Horticulture Lighting Market, by Technology –Revenue and Forecast to 2027 (US$ Million)
Table 15. Russia: Horticulture Lighting Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 16. Russia: Horticulture Lighting Market, by Cultivation –Revenue and Forecast to 2027 (US$ Million)
Table 17. Rest of Europe: Horticulture Lighting Market, by Technology –Revenue and Forecast to 2027 (US$ Million)
Table 18. Rest of Europe: Horticulture Lighting Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 19. Rest of Europe: Horticulture Lighting Market, by Cultivation –Revenue and Forecast to 2027 (US$ Million)
Table 20. List of Abbreviation
LIST OF FIGURES
Figure 1. Europe Horticulture Lighting Market Segmentation
Figure 2. Europe Horticulture Lighting Market Segmentation – By Country
Figure 3. Europe Horticulture Lighting Market Overview
Figure 4. LED Lights Segment Held the Largest Market Share Based on Technology
Figure 5. Greenhouses Segment Held the Largest Market Share Based on Application
Figure 6. Fruits and Vegetable Segment Held the Largest Market Share Based on Cultivation
Figure 7. France is Expected to be Fastest Growing Country During Forecast Period
Figure 8. Europe: PEST Analysis
Figure 9. Expert Opinion
Figure 10. Europe Horticulture Lighting Market: Impact Analysis of Drivers and Restraints
Figure 11. Europe Horticulture Lighting Market – Revenue and Forecast to 2027 (US$ Million)
Figure 12. Europe Horticulture Lighting Market Revenue Share, by Technology (2019 and 2027)
Figure 13. Europe LED Lights: Horticulture Lighting Market – Revenue and Forecast to 2027 (US$ Million)
Figure 14. Europe High Intensity Discharge Lights: Horticulture Lighting Market – Revenue and Forecast to 2027 (US$ Million)
Figure 15. Europe Fluorescent Lamps: Horticulture Lighting Market – Revenue and Forecast to 2027 (US$ Million)
Figure 16. Europe Horticulture Lighting Market Revenue Share, by Application (2019 and 2027)
Figure 17. Europe Greenhouses: Horticulture Lighting Market – Revenue and Forecast to 2027 (US$ Million)
Figure 18. Europe Vertical Farming: Horticulture Lighting Market – Revenue and Forecast to 2027 (US$ Million)
Figure 19. Europe Indoor Farming: Horticulture Lighting Market – Revenue and Forecast to 2027 (US$ Million)
Figure 20. Europe Horticulture Lighting Market Breakdown, by Cultivation (2019 and 2027)
Figure 21. Europe Fruits and Vegetables Market Revenue and Forecast to 2027(US$ Million)
Figure 22. Europe Floriculture Market Revenue and Forecast to 2027(US$ Million)
Figure 23. Europe: Horticulture Lighting Market Revenue Share, By Key Country (2019 and 2027)
Figure 24. Germany: Horticulture Lighting Market – Revenue and Forecast To 2027 (US$ Million)
Figure 25. France: Horticulture Lighting Market – Revenue and Forecast To 2027 (US$ Million)
Figure 26. Italy: Horticulture Lighting Market – Revenue and Forecast To 2027 (US$ Million)
Figure 27. UK: Horticulture Lighting Market – Revenue and Forecast To 2027 (US$ Million)
Figure 28. Russia: Horticulture Lighting Market – Revenue and Forecast To 2027 (US$ Million)
Figure 29. Rest of Europe: Horticulture Lighting Market – Revenue and Forecast To 2027 (US$ Million)
Figure 30. Impact of COVID-19 Pandemic on Europe Country Markets
The List of Companies - Europe Horticulture Lighting Market
- Agrolux
- General Electric Company
- Heliospectra AB
- Hortilux Schréder B.V
- Hubbell, Inc.
- Lumileds Holding B.V.
- OSRAM Licht AG
- Signify N.V.
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Europe horticulture lighting market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the Europe horticulture lighting market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the horticulture lighting market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution.