Horticulture Lighting Industry size is expected to register 16.1% CAGR between 2024 and 2032 propelled by the increased investments in modern agriculture.
/PRNewswire/ The Horticulture Lighting Market is expected to reach USD 10.4 billion by 2028 from USD 3.7 billion in 2023, at a CAGR of 22.4% during the.
Horticulture Lighting Market worth $10.4 billion by 2028 - Exclusive Report by MarketsandMarkets finanznachrichten.de - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from finanznachrichten.de Daily Mail and Mail on Sunday newspapers.
/PRNewswire/ The "Global Horticulture Lighting Market with COVID-19 Impact Analysis by Technology (Fluorescent, HID and LED), Application (Greenhouses,.
Share: According to The Insight Partners market research study on Europe Horticulture Lighting Marketto 2027 – COVID-19 Impact and Regional Analysis and Forecast by Technology, Application and Cultivation is expected to reach US$ 3767.9millionby 2027 from US$ 991.1million in 2019. The market is estimated to grow at a CAGR of 18.8 % from 2020 to 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 report provides trends prevailing in the Europe horticulture lighting market along with the drivers and restraints pertaining to the market growth. Surge in government initiatives and rising population and advancements in greenhouse and indoor farming approaches are the major factor driving the growth of the Europe horticulture lighting market. However, issues associated with insufficient awareness and high costs involved hinder the growth of Europe horticulture lighting market. 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.