According to a new report, published by KBV research, The Global Agricultural Lighting Market size is expected to reach $26.7 billion by 2030, rising at a market growth of 12.5% CAGR during the forecast period.
The New segment is leading Global Agricultural Lighting Market by Installation in 2022 thereby, achieving a market value of $17.7 billion by 2030. Ecologically conscious items were previously not given much care, but today everyone is starting to see their significance. Farmers and concerned authorities are moving toward better practices that may reduce the danger of adverse environmental effects as consumer interest in adopting environmentally friendly products grows. As a result, growth in light installation will increase dramatically, leading to market growth.
The HID segment is showcasing a CAGR of 13.3% during (2023 - 2030). HID lighting systems come in a range of wattages, serving versatility in addressing the lighting needs of varied crop types and sizes. They may offer extensive coverage, efficiently lighting up bigger areas inside agricultural complexes. These elements cause HID light sources to expand at a considerable growth rate throughout the predicted period.
The Below 50W segment acquired the maximum revenue share in the Global Agricultural Lighting Market by Wattage Type in 2022 thereby, achieving a market value of $12.6 billion by 2030. Most bulbs and lighting below 50W are used in farm lighting since they utilize less electricity. Additionally, brighter, and more adequate lighting is now available in lower-wattage LED lights owing to the growing usage of LED lighting in agricultural applications. These benefits have led to the adoption of agricultural lighting with wattage below 50W, thereby raising the market growth.
The Retail/Wholesale segment is generating the highest share in the Global Agricultural Lighting Market by Sales Channel in 2022 thereby, achieving a market value of $11.2 billion by 2030. The market is expanding in this segment as a result of the rising convenience to customers. Buyers in rural areas benefit from the after-sale services and support, offline or in-person meetings and coaching, and low prices. In the market for agricultural lighting, this leads to a bigger market share for this sales channel.
The Software segment has shown the high growth rate of 13.3% during (2023 - 2030). Intelligent control systems that use software to optimize lighting operations are a feature of contemporary lighting solutions. Numerous elements, including automatic scheduling, occupancy detection, daylight harvesting, and energy management, are included in these systems. Additional programming, customization, and integration efforts are required in order to implement these software-driven functionalities in conjunction with the lighting hardware.
The Livestock segment has the highest revenue share in the Global Agricultural Lighting Market by Application in 2022, thereby achieving a market value of $11.1 billion by 2030. The need for lighting systems in livestock operations is substantial since lighting is essential for preserving animal welfare, production, and management. The bigger market share of livestock lighting is mostly due to the magnitude of the livestock lighting. Due to the rising need for milk, meat, eggs, and poultry, particularly in European and American nations, the livestock sector maintains the greatest market share for the agricultural lighting market.
The Asia Pacific market dominated the Global Agricultural Lighting Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $9.9 billion by 2030. The Europe market is showcasing a CAGR of 11.8% during (2023 - 2030). Additionally, The North America market would witness a CAGR of 12% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/agricultural-lighting-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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 Geography
Companies Profiled
Unique Offerings 
