The Latin America, Middle East and Africa Agricultural Lighting Market would witness market growth of 15.6% CAGR during the forecast period (2023-2030).
The market is anticipated to expand strongly during the coming years. Market expansion is anticipated to be fueled by the growing use of solid-state lighting technologies and controlled environmental farming techniques. Additionally, it is predicted that rising investment in greenhouse and vertical farm projects would support market expansion. Also, it is anticipated that the legalization of cannabis cultivation will increase demand for LED grow lights. The need for LED grow lights is increasing as indoor farming becomes more popular. Grow lights come in a variety of designs, such as fluorescent grow lights, LED grow lights, and high-pressure sodium grow lights.
The expansion of urban farming is anticipated to promote LED lights' growing utility. Additionally, the development of agricultural LED lights is being fueled by the soaring demand from the poultry industry. For their hens' improved growth, poultry breeders utilize LED grow lights. It has been discovered that chickens grown under LED grow lights lay more eggs of greater quality.
The African region's growing urban population and the commercialization of indoor farming are anticipated to be the main drivers of demand in the region. The United Arab Emirates' poultry industry is growing as a result of greater government support and strong consumer demand for locally produced chicken meat products. The poultry industry focuses on producing healthier chicken by improving nutrition and living conditions for livestock. The UAE's key goal for 2020 was to stabilize the supply chain for fresh meat and eggs due to the ongoing issues brought on by COVID-19. This will likely lead to an increase in the use of agricultural lighting throughout the LAMEA region.
The Brazil market dominated the LAMEA Agricultural Lighting Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $559.5 million by 2030. The Argentina market is showcasing a CAGR of 16.2% during (2023 - 2030). Additionally, The UAE market would generate a CAGR of 15% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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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