The Asia Pacific Agricultural Lighting Market would witness market growth of 12.9% CAGR during the forecast period (2023-2030).
The plants are grown indoors, using a small portion of the land, water, and fertilizers of grains grown outdoor through conventional farming. Since they are grown indoors, the plants can be located near urban areas. Plants genetically modified to survive the challenges of outdoor cultivation are not necessary for growers, nor are types bred to resist disease. Fast crop rotations are made possible by indoor cultivation and agricultural lighting.
Conventional greenhouses utilize high-pressure sodium lamps (HPS) to supplement sunshine, but because HPS lights use significantly more electricity to provide the same light levels as LED, they don't perform as well. They produce too much heat to be placed next to young greens. Greenhouses are nowadays switching to a blend of HPS and LED lights for supplement lighting, however, it is anticipated that in future they would be able to use LEDs alone.
Due to rising international business sectors engaging in agricultural operations to meet the demand of crop producers for export-quality commodities, there is an increase in the demand for the market in this region. In addition, farming practices in the Asia-Pacific region are shifting away from traditional methods and toward more contemporary ones. These variances have caused crop management techniques to evolve in order to increase crop premium value. Indoor farms are gaining popularity in Japan, China, Singapore, Taiwan, and other developed nations, due to increased agricultural lighting and the usage of greenhouse farming to produce specific crops. Over the forecast period, this increase in demand for agricultural lighting technologies and solutions will accelerate the expansion of the regional market.
The China market dominated the Asia Pacific Agricultural Lighting Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $2,758 million by 2030. The Japan market is poised to grow at a CAGR of 12.1% during (2023 - 2030). Additionally, The India market would witness a CAGR of 13.6% during (2023 - 2030).
Based on Installation, the market is segmented into New, and Retrofit. Based on Light Source, the market is segmented into LED, Fluorescent, HID, and Others. Based on Wattage Type, the market is segmented into Below 50W, 50 - 150W, and Above 150W. Based on Sales Channel, the market is segmented into Retail/Wholesale, Direct Sales, and Online/E-commerce. Based on Offering, the market is segmented into Hardware, Software, and Services. Based on Application, the market is segmented into Livestock, Horticulture, and Aquaculture. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Agricultural Lighting Market is Projected to reach USD 26.7 Billion by 2030, at a CAGR of 12.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Signify N.V., ams-OSRAM AG, Tetra Laval International S.A. (DeLaval), Heliospectra AB, Valoya Oy, California LightWorks (MWW Inc.), Gavita International B.V., Hortilux Schréder (Dool Industries), and CBM Lighting, Inc.
By Installation
By Light Source
By Wattage Type
By Sales Channel
By Offering
By Application
By Country
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