Middle East and Africa 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 MEA horticulture lighting market. Toshiba and Panasonic 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 MEA horticulture lighting market. Various governments are emphasizing on the use of LED lighting technology. Thus, the upsurge in government initiatives is expected to create a significant demand for horticulture lighting in the coming years, which is further anticipated to drive the MEA horticulture lighting market. Again the ongoing COVID-19 pandemic is affecting the MEA region very badly. Among the MEA countries, South Africa has faced the highest number of COVID-19 confirmed cases 611,450. Other major countries that are facing the economic impact of COVID-19 include Iran, Turkey, Saudi Arabia, UAE, Egypt, Morocco, and Kuwait. The region comprises many growing economies such as UAE, among others, which are prospective markets for horticulture lightning providers, owing to the huge presence of investment in vertical farming. The COVID-19 pandemic is going to severely impact the MEA market compared to the other regions since the major problem related to declining oil prices are already affecting the economies of several oil-producing countries in MEA. In addition to this, the factory lockdowns, business shutdowns, and travel bans are further aggravating the economic problems of the countries in the MEA region. Hence, the estimated decline in MEA’s economic condition and impact of COVID-19 on the growth of various industries in the region is expected to negatively impact the growth of the horticulture lightning market in 2020 and 2021.
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Market Overview and Dynamics
The horticulture lighting market in MEA is expected to grow from US$ 83.9 million in 2019 to US$ 290.3 million by 2027; it is estimated to grow at a CAGR of 17.4 % from 2020 to 2027. LED lighting could provide more growth opportunities in future. 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 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. Several major players are introducing LED lights to stay competitive in the MEA market. For instance, Osram GmbH, a Germany-based company, ramped up its new generation LED lighting for horticulture. The product is called Oslon Square Hyper Red. It is the most efficient LED for horticulture lighting with a wavelength of 660 nm. It can provide light to several plants with accurate light composition. Furthermore, with cost-effective LED lighting products, their application in the horticultural industry is expected to increase, which is likely to have a positive impact during the forecast period. All these factors are collectively responsible for bolstering the growth of the MEA horticulture lighting market.
Key Market Segments
In terms of technology, the LED lights segment accounted for the largest share of the MEA horticulture lighting market in 2019. In terms of application, the greenhouses segment held a larger market share of the MEA 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 MEA are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are General Electric Company; Hortilux Schréder B.V.; Lumileds Holding B.V.; OSRAM Licht AG; Signify N.V.
Reasons to buy report
- To understand the MEA 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 MEA horticulture lighting market.
- Efficiently plan M&A and partnership deals in MEA 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 MEA horticulture lighting market.
- Obtain market revenue forecast for market by various segments from 2020-2027 in MEA region.
MEA Horticulture Lighting Market Segmentation
By Application
By Cultivation
- Fruits and Vegetables
- Floriculture
By Country
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
Company Profiles
- General Electric Company
- Hortilux Schréder B.V.
- 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 MEA Horticulture Lighting Market – By Technology
1.3.2 MEA Horticulture Lighting Market – By Application
1.3.3 MEA Horticulture Lighting Market – By Cultivation
1.3.4 MEA Horticulture Lighting Market- By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. MEA Horticulture Lighting Market Landscape
4.1 Market Overview
4.2 MEA PEST Analysis
4.3 Expert Opinion
5. MEA Horticulture Lighting Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Upsurge in Initiatives Taken by Government
5.1.2 Growing Developments in Greenhouse and Indoor Farming Techniques and Soaring Population
5.2 Market Restraints
5.2.1 Insufficient Awareness and Cost Expensive
5.3 Market Opportunities
5.3.1 Rising Significance of Vertical Farming
5.4 Future Trends
5.4.1 More Growth Possibilities to be Provided by LED Lighting
5.5 Impact Analysis of Drivers and Restraints
6. Horticulture Lighting Market – MEA Analysis
6.1 Horticulture Lighting Market MEA Overview
6.2 MEA Horticulture Lighting Market – Revenue and Forecast to 2027 (US$ Million)
6.3 Market Positioning – Key Players
7. MEA Horticulture Lighting Market Analysis – By Technology
7.1 Overview
7.2 MEA 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. MEA Horticulture Lighting Market Analysis – By Application
8.1 Overview
8.2 MEA 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. MEA Horticulture Lighting Market Analysis – By Cultivation
9.1 Overview
9.2 MEA 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. MEA Horticulture Lighting Market – Country Analysis
10.1 Overview
10.1.1 MEA: Horticulture Lighting Market, by Key Country
10.1.1.1 South Africa: Horticulture Lighting Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.1.1 South Africa: Horticulture Lighting Market, by Technology
10.1.1.1.2 South Africa: Horticulture Lighting Market, by Application
10.1.1.1.3 South Africa: Horticulture Lighting Market, by Cultivation
10.1.1.2 Saudi Arabia: Horticulture Lighting Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.2.1 Saudi Arabia: Horticulture Lighting Market, by Technology
10.1.1.2.2 Saudi Arabia: Horticulture Lighting Market, by Application
10.1.1.2.3 Saudi Arabia: Horticulture Lighting Market, by Cultivation
10.1.1.3 UAE: Horticulture Lighting Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.3.1 UAE: Horticulture Lighting Market, by Technology
10.1.1.3.2 UAE: Horticulture Lighting Market, by Application
10.1.1.3.3 UAE: Horticulture Lighting Market, by Cultivation
10.1.1.4 Rest of MEA: Horticulture Lighting Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.4.1 Rest of MEA: Horticulture Lighting Market, by Technology
10.1.1.4.2 Rest of MEA: Horticulture Lighting Market, by Application
10.1.1.4.3 Rest of MEA: Horticulture Lighting Market, by Cultivation
11. MEA Horticulture Lighting Market- COVID-19 Impact Analysis
11.1 MEA
12. Industry Landscape
12.1 Market Initiative
12.2 Merger and Acquisition
12.3 New Development
13. Company Profiles
13.1 Signify N.V.
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 Lumileds Holding B.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 Hortilux Schréder B.V.
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 OSRAM Licht AG
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 General Electric Company
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
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES
Table 1. MEA Horticulture Lighting Market – Revenue and Forecast to 2027 (US$ Million)
Table 2. South Africa: Horticulture Lighting Market, by Technology –Revenue and Forecast to 2027 (US$ Million)
Table 3. South Africa: Horticulture Lighting Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 4. South Africa: Horticulture Lighting Market, by Cultivation –Revenue and Forecast to 2027 (US$ Million)
Table 5. Saudi Arabia: Horticulture Lighting Market, by Technology –Revenue and Forecast to 2027 (US$ Million)
Table 6. Saudi Arabia: Horticulture Lighting Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 7. Saudi Arabia: Horticulture Lighting Market, by Cultivation –Revenue and Forecast to 2027 (US$ Million)
Table 8. UAE: Horticulture Lighting Market, by Technology –Revenue and Forecast to 2027 (US$ Million)
Table 9. UAE: Horticulture Lighting Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 10. UAE: Horticulture Lighting Market, by Cultivation –Revenue and Forecast to 2027 (US$ Million)
Table 11. Rest of MEA: Horticulture Lighting Market, by Technology –Revenue and Forecast to 2027 (US$ Million)
Table 12. Rest of MEA: Horticulture Lighting Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 13. Rest of MEA: Horticulture Lighting Market, by Cultivation –Revenue and Forecast to 2027 (US$ Million)
Table 14. List of Abbreviation
LIST OF FIGURES
Figure 1. MEA Horticulture Lighting Market Segmentation
Figure 2. MEA Horticulture Lighting Market Segmentation – By Country
Figure 3. MEA 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. Fruit and Vegetables Segment Held the Largest Market Share Based on Cultivation
Figure 7. South Africa to Show Great Traction During Forecast Period
Figure 8. MEA: PEST Analysis
Figure 9. Expert Opinion
Figure 10. MEA Horticulture Lighting Market: Impact Analysis of Drivers and Restraints
Figure 11. MEA Horticulture Lighting Market – Revenue and Forecast to 2027 (US$ Million)
Figure 12. MEA Horticulture Lighting Market Revenue Share, by Technology (2019 and 2027)
Figure 13. MEA LED Lights: Horticulture Lighting Market – Revenue and Forecast to 2027 (US$ Million)
Figure 14. MEA High Intensity Discharge Lights: Horticulture Lighting Market – Revenue and Forecast to 2027 (US$ Million)
Figure 15. MEA Fluorescent Lamps: Horticulture Lighting Market – Revenue and Forecast to 2027 (US$ Million)
Figure 16. MEA Horticulture Lighting Market Revenue Share, by Application (2019 and 2027)
Figure 17. MEA Greenhouses: Horticulture Lighting Market – Revenue and Forecast to 2027 (US$ Million)
Figure 18. MEA Vertical Farming: Horticulture Lighting Market – Revenue and Forecast to 2027 (US$ Million)
Figure 19. MEA Indoor Farming: Horticulture Lighting Market – Revenue and Forecast to 2027 (US$ Million)
Figure 20. MEA Horticulture Lighting Market Breakdown, by Cultivation (2019 and 2027)
Figure 21. MEA Fruits and Vegetables Market Revenue and Forecast to 2027(US$ Million)
Figure 22. MEA Floriculture Market Revenue and Forecast to 2027(US$ Million)
Figure 23. MEA: Horticulture Lighting Market Revenue Share, By Key Country (2019 and 2027)
Figure 24. South Africa: Horticulture Lighting Market – Revenue and Forecast to 2027 (US$ Million)
Figure 25. Saudi Arabia: Horticulture Lighting Market – Revenue and Forecast to 2027 (US$ Million)
Figure 26. UAE: Horticulture Lighting Market – Revenue and Forecast to 2027 (US$ Million)
Figure 27. Rest of MEA: Horticulture Lighting Market – Revenue and Forecast to 2027 (US$ Million)
Figure 28. Impact of COVID-19 Pandemic in MEA Country Markets
The List of Companies - Middle East and Africa Horticulture Lighting Market
- General Electric Company
- Hortilux Schréder B.V.
- Lumileds Holding B.V.
- OSRAM Licht AG
- Signify N.V.