Europe Horticulture Lighting Market Trends and Analysis by 2027

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.

The France, Germany, UK, Italy and Russia are major economies in Europe. Rising population and advancements in greenhouse and indoor farming approaches is expected to surge the Europe horticulture lighting market in a positive way. Due to the population boom witnessed in European Countries, massive demand for food products is anticipated in the coming years. This is why numerous countries are focusing on greenhouse and indoor farming techniques to increase their agricultural yield significantly. Still, with the growing popularity of the concepts of horticulture and indoor crop cultivation, the Europe horticulture lighting market is expected to pace up quickly in the near future as the farmers are adopting big data technologies, predictive analytics, the internet of things (IoT), and automation in the farming techniques. For example, a research company in Europe is currently testing a robot that picks mushrooms. Such developments and research initiatives taken in the horticulture field are driving the growth of the Europe horticulture lighting market. Thus, the advancements in greenhouse and indoor farming approaches a well as rising population in Europe is expected to create significant demand for horticulture lighting in the coming years, which is further anticipated to drive the market in Europe.

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. Horticulture lighting market in Italy, Spain, Germany, UK, and France is anticipated to see the worst impact in 2020 and likely in 2021.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe horticulture lighting market. The Europe horticulture lighting market is expected to grow at a good CAGR during the forecast period.

                                                 Europe Horticulture Lighting Market

                             

Europe Horticulture Lighting Market Segmentation

Europe Horticulture Lighting Market – By Technology

• LED Lights
• High Intensity Discharge Lights
• Fluorescent Lamps

Europe Horticulture Lighting Market – By Application

• Greenhouses
• Vertical Farming
• Indoor Farming

Europe Horticulture Lighting Market – By Cultivation

• Fruits and Vegetables
• Floriculture

Europe Horticulture Lighting Market, by Country

• France
• Germany
• Italy
• UK
• Russia
• Rest of Europe

Europe Horticulture Lighting Market -Companies Mentioned

• Agrolux
• General Electric Company
• Heliospectra AB
• Hortilux Schréder B.V
• Hubbell, Inc.
• Lumileds Holding B.V.
• OSRAM Licht AG
• Signify N.V.

Europe Horticulture Lighting Report Scope