Asia Pacific 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)
The horticulture lighting market in APAC is expected to grow from US$ 663.7 million in 2019 to US$ 3147.5 million by 2027; it is estimated to grow at a CAGR of 22.1 % from 2020 to 2027.
The Australia, China, India, Japan and South Korea are major economies in APAC. Growing government initiatives is expected to affect the Asia Pacific horticulture lighting market in a positive way. Growing awareness about sustainable crop and increasing government initiatives in various developed as well as developing countries in APAC region to support sustainability are expected to boost the adoption rate of horticultural lighting systems during the forecast period. The governments in APAC region are focusing on the deployment of a geothermal heat plant, which involves drilling at great depths through stratum and installing heat exchangers. Through various incentives such as soft loans and tax breaks, the government has supported the growers. Furthermore, the legalization of cannabis for medicinal purposes by various governments in APAC over the past few years is accelerating the growth of the market. Thus, the growing government initiatives is expected to create a significant demand for horticulture lighting in the coming years, which is further anticipated to drive the market in APAC. Moreover, in case of COVID-19, APAC is highly affected specially the China as well as India. APAC is characterized by a large number of developing countries, positive economic outlook, high industrial presence, huge population, and rising disposable income. All these factors make APAC a major growth driving region for various markets, including horticulture lighting. Due to the pandemic, uncertain consumer demand and supply chain problems have affected the horticulture lighting industry in the region. The lockdown of various factories in China affects the supply chains and negatively impacts the manufacturing and sales of various products and services. China has recently emerged from a containment phase and moved into the mitigation stage; however, the economic growth is still declining due to uncertainty around COVID 19 outbreak. For the LED industry, since the supply chain mostly locates in this region and production majorly coming from China, the pandemic has an impact on the industry. The governments are taking drastic measures to reduce the effects of coronavirus outbreak by announcing lockdowns, travel, and trade bans. All these measures are expected to have a negative impact on the adoption and growth of horticulture lighting in 2020 and 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 APAC horticulture lighting market. The APAC horticulture lighting market is expected to grow at a good CAGR during the forecast period. Get more information on this report :
APAC Horticulture Lighting Market Revenue and Forecast to 2027 (US$ Million)
APAC Horticulture Lighting Market Segmentation
APAC Horticulture Lighting Market – By Technology
- LED Lights
- High Intensity Discharge Lights
- Fluorescent Lamps
APAC Horticulture Lighting Market – By Application
- Greenhouses
- Vertical Farming
- Indoor Farming
APAC Horticulture Lighting Market – By Cultivation
- Fruits and Vegetables
- Floriculture
APAC Horticulture Lighting Market, by Country
- Australia
- China
- India
- Japan
- South Korea
- Rest of APAC
APAC Horticulture Lighting Market -Companies Mentioned
- General Electric Company
- Heliospectra AB
- 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 APAC Horticulture Lighting Market – By Technology
1.3.2 APAC Horticulture Lighting Market – By Application
1.3.3 APAC Horticulture Lighting Market – By Cultivation
1.3.4 APAC Horticulture Lighting Market - By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. APAC Horticulture Lighting Market Landscape
4.1 Market Overview
4.2 APAC PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. APAC Horticulture Lighting Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Government Initiatives
5.1.2 Surge in Population and Advancements in Greenhouse and Indoor Farming Techniques
5.2 Market Restraints
5.2.1 Inadequate Awareness and High Costs Involved
5.3 Market Opportunities
5.3.1 Growing Significance of Vertical Farming
5.4 Future Trends
5.4.1 LED Lighting to Open New Growth Options
5.5 Impact Analysis of Drivers and Restraints
6. Horticulture Lighting Market – APAC Analysis
6.1 APAC Horticulture Lighting Market Overview
6.2 APAC Horticulture Lighting Market – Revenue and Forecast to 2027 (US$ Million)
6.3 Market Positioning – Five Key Players
7. APAC Horticulture Lighting Market Analysis – By Technology
7.1 Overview
7.2 APAC 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. APAC Horticulture Lighting Market Analysis – By Application
8.1 Overview
8.2 APAC 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. APAC Horticulture Lighting Market Analysis – By Cultivation
9.1 Overview
9.2 APAC 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. APAC Horticulture Lighting Market – Country Analysis
10.1 Overview
10.1.1 APAC: Horticulture Lighting Market, by Key Country
10.1.1.1 Australia: Horticulture Lighting Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.1.1 Australia: Horticulture Lighting Market, by Technology
10.1.1.1.2 Australia: Horticulture Lighting Market, by Application
10.1.1.1.3 Australia: Horticulture Lighting Market, by Cultivation
10.1.1.2 China: Horticulture Lighting Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.2.1 China: Horticulture Lighting Market, by Technology
10.1.1.2.2 China: Horticulture Lighting Market, by Application
10.1.1.2.3 China: Horticulture Lighting Market, by Cultivation
10.1.1.3 India: Horticulture Lighting Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.3.1 India: Horticulture Lighting Market, by Technology
10.1.1.3.2 India: Horticulture Lighting Market, by Application
10.1.1.3.3 India: Horticulture Lighting Market, by Cultivation
10.1.1.4 Japan: Horticulture Lighting Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.4.1 Japan: Horticulture Lighting Market, by Technology
10.1.1.4.2 Japan: Horticulture Lighting Market, by Application
10.1.1.4.3 Japan: Horticulture Lighting Market, by Cultivation
10.1.1.5 South Korea: Horticulture Lighting Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.5.1 South Korea: Horticulture Lighting Market, by Technology
10.1.1.5.2 South Korea: Horticulture Lighting Market, by Application
10.1.1.5.3 South Korea: Horticulture Lighting Market, by Cultivation
10.1.1.6 Rest of APAC: Horticulture Lighting Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.6.1 Rest of APAC: Horticulture Lighting Market, by Technology
10.1.1.6.2 Rest of APAC: Horticulture Lighting Market, by Application
10.1.1.6.3 Rest of APAC: Horticulture Lighting Market, by Cultivation
11. APAC Horticulture Lighting Market- COVID-19 Impact Analysis
11.1 APAC: Impact Assessment of COVID-19 Pandemic
12. Industry Landscape
12.1 Market Initiative
12.2 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 Heliospectra AB
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 Lumileds Holding 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
13.6 Hubbell, Inc.
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
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES
Table 1. APAC Horticulture Lighting Market – Revenue and Forecast to 2027 (US$ Million)
Table 2. Australia: Horticulture Lighting Market, by Technology –Revenue and Forecast to 2027 (US$ Million)
Table 3. Australia: Horticulture Lighting Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 4. Australia: Horticulture Lighting Market, by Cultivation –Revenue and Forecast to 2027 (US$ Million)
Table 5. China: Horticulture Lighting Market, by Technology –Revenue and Forecast to 2027 (US$ Million)
Table 6. China: Horticulture Lighting Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 7. China: Horticulture Lighting Market, by Cultivation –Revenue and Forecast to 2027 (US$ Million)
Table 8. India: Horticulture Lighting Market, by Technology –Revenue and Forecast to 2027 (US$ Million)
Table 9. India: Horticulture Lighting Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 10. India: Horticulture Lighting Market, by Cultivation –Revenue and Forecast to 2027 (US$ Million)
Table 11. Japan: Horticulture Lighting Market, by Technology –Revenue and Forecast to 2027 (US$ Million)
Table 12. Japan: Horticulture Lighting Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 13. Japan: Horticulture Lighting Market, by Cultivation –Revenue and Forecast to 2027 (US$ Million)
Table 14. South Korea: Horticulture Lighting Market, by Technology –Revenue and Forecast to 2027 (US$ Million)
Table 15. South Korea: Horticulture Lighting Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 16. South Korea: Horticulture Lighting Market, by Cultivation –Revenue and Forecast to 2027 (US$ Million)
Table 17. Rest of APAC: Horticulture Lighting Market, by Technology –Revenue and Forecast to 2027 (US$ Million)
Table 18. Rest of APAC: Horticulture Lighting Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 19. Rest of APAC: Horticulture Lighting Market, by Cultivation –Revenue and Forecast to 2027 (US$ Million)
Table 20. List of Abbreviation
LIST OF FIGURES
Figure 1. APAC Horticulture Lighting Market Segmentation
Figure 2. APAC Horticulture Lighting Market Segmentation – By Country
Figure 3. APAC 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 Vegetables Segment Held the Largest Market Share Based on Cultivation
Figure 7. India is the Fastest Growing Country During Forecast Period
Figure 8. APAC: PEST Analysis
Figure 9. Expert Opinion
Figure 10. APAC Horticulture Lighting Market: Impact Analysis of Drivers and Restraints
Figure 11. APAC Horticulture Lighting Market – Revenue and Forecast to 2027 (US$ Million)
Figure 12. APAC Horticulture Lighting Market Revenue Share, by Technology (2019 and 2027)
Figure 13. APAC LED Lights: Horticulture Lighting Market – Revenue and Forecast to 2027 (US$ Million)
Figure 14. APAC High Intensity Discharge Lights: Horticulture Lighting Market – Revenue and Forecast to 2027 (US$ Million)
Figure 15. APAC Fluorescent Lamps: Horticulture Lighting Market – Revenue and Forecast to 2027 (US$ Million)
Figure 16. APAC Horticulture Lighting Market Revenue Share, by Application (2019 and 2027)
Figure 17. APAC Greenhouses: Horticulture Lighting Market – Revenue and Forecast to 2027 (US$ Million)
Figure 18. APAC Vertical Farming: Horticulture Lighting Market – Revenue and Forecast to 2027 (US$ Million)
Figure 19. APAC Indoor Farming: Horticulture Lighting Market – Revenue and Forecast to 2027 (US$ Million)
Figure 20. APAC Horticulture Lighting Market Breakdown, by Cultivation (2019 and 2027)
Figure 21. APAC Fruits and Vegetables Market Revenue and Forecast to 2027(US$ Million)
Figure 22. APAC Floriculture Market Revenue and Forecast to 2027(US$ Million)
Figure 23. APAC: Horticulture Lighting Market Revenue Share, By Key Country (2019 and 2027)
Figure 24. Australia: Horticulture Lighting Market – Revenue and Forecast To 2027 (US$ Million)
Figure 25. China: Horticulture Lighting Market – Revenue and Forecast To 2027 (US$ Million)
Figure 26. India: Horticulture Lighting Market – Revenue and Forecast To 2027 (US$ Million)
Figure 27. Japan: Horticulture Lighting Market – Revenue and Forecast To 2027 (US$ Million)
Figure 28. South Korea: Horticulture Lighting Market – Revenue and Forecast To 2027 (US$ Million)
Figure 29. Rest of APAC: Horticulture Lighting Market – Revenue and Forecast To 2027 (US$ Million)
Figure 30. Impact of COVID-19 Pandemic on APAC Markets
The List of Companies - Asia-Pacific Horticulture Lighting Market
- General Electric Company
- Heliospectra AB
- 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 APAC 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 APAC 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 APAC 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.