Global LED Lighting Market for Horticulture Application 2016-2020
About LED Lighting
Lighting sources such as incandescent lighting, fluorescent lighting, and tungsten photonic lighting were used. However, the industry is witnessing transition to the latest lighting technology like LED lighting. LED lighting devices provide high-intensity brightness, along with other advantages like low voltage requirements, low radiated heat, high reliability, negligible ultraviolet (UV) rays, and a longer life span over the conventional lighting sources.
Technavio’s analysts forecast the global LED lighting market for horticulture application to grow at a CAGR of 22.55% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global LED lighting market for horticulture application for 2016-2020. To calculate the market size, the report presents the major vendors that manufacture LED lighting products for horticulture applications in the Americas, APAC, and EMEA.The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global LED Lighting Market for Horticulture Application 2016-2020.
Technavio recognizes the following companies as the key players in the global LED lighting market for horticulture application: Cree, Fluence Bioengineering, Heliospectra, Hubbell Lighting, illumitex, Kessil Lighting, Lemnis Oreon, LumiGrow, OSRAM SYLVANIA, and Smart Grow Technologies.
Commenting on the report, an analyst from Technavio’s team said: “One of latest trends in the market is focus on development of innovative products. The growth and development of horticulture crops depend on the amount of sunlight they receive. The long period of darkness, especially in Nordic Countries and North Central Europe, makes it difficult for farmers to improve the crop output. Therefore, horticulturists are supplementing sunlight with lighting technologies. As LEDs provide optimum plant light output and are cost-effective, these are gaining traction among horticulturists. The growing preference for LEDs over traditional lighting has encouraged lighting manufacturers to develop innovative LED lighting lamps and fixtures specific to the horticulture sector.”
According to the report, one of the primary drivers in the market is unfavorable weather and climatic conditions. The growth and development of plants are dependent on the growing environmental conditions, as they are adapted to different agro-ecological regions. Horticulture is a high-priority sector of agriculture, where the impact of adverse climate and weather conditions will have a profound impact on the nutritional value of the crops. The climate variability affects all components of crop production including cropping area, intensity, and yield. Therefore, farmers usually grow crops specific to location. For instance, crops such as rice, maize, cereals, pulses, and soybean, which are monsoon crops, are grown in areas with adequate rainfall. Unfavorable weather and climatic conditions such as El Nino Southern Oscillation, which is caused by variations in the sea surface temperature in the eastern tropical Pacific Ocean, often lead to droughts and decrease in crop yields. This leads to a huge loss for farmers, resulting in low production of several major crops. In May 2014, unseasonal rainfall in Bellary district of Karnataka, India, resulted in the loss of 480 hectares of horticultural crops (especially sapota). In 2016, the low temperature in late April and early May in Bulgaria affected over 80% of the cherry crop in the southwestern Kyustendil region.
Further, the report states that one major challenge in the market is Insufficient horticulture infrastructure. The non-availability of postharvest, lack of food processing facilities, inadequate storage facilities, and inadequate credit to finance the purchase of inputs and capital investment are deterring farmers to shift to horticulture. For instance, the shift of traditional sugarcane growers in Uttar Pradesh, India, to horticulture is hindered by the insufficient horticulture infrastructure. Unavailability of modern cold storage facilities is leading to huge postharvest losses. Postharvest losses are becoming a major concern in the global horticulture market supply chain, including consumers, marketing specialists, middleman, and producers. This is because post-harvest facilities ensure the availability of high-quality horticulture crops to millions of people through improved post-harvest handling. High transportation costs, poor marketing infrastructure, and inadequate quality control systems, and multiple number of taxes at both national and local levels are some of the other hindrances in the horticulture sector.
Cree, Fluence Bioengineering, Heliospectra, Hubbell Lighting, illumitex, Kessil Lighting, Lemnis Oreon, LumiGrow, OSRAM SYLVANIA, Smart Grow Technologies.
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