TOP CATEGORY: Chemicals & Materials | Life Sciences | Banking & Finance | ICT Media
Download Report PDF Instantly
Report overview
The global Vertical Farming Lighting Solution market was valued at USD 664.34 million in 2023 and is projected to reach USD 1.69 billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 15.2% during the forecast period (2024-2030). The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes
.The U.S. Market is Estimated at $ Million in 2023, While China is Forecast to Reach $ Million.
Panel Lighting System Segment to Reach $ Million by 2030, with a % CAGR in next six years.
The global key manufacturers of Vertical Farming Lighting Solution include LEDINPRO, Agritech, Agritecture, Vertically Urban, Philips lighting, SANligh, GE Current, Kroptek LED and Heliospectra, etc. in 2023, the global top five players have a share approximately % in terms of revenue.
This report aims to provide a comprehensive presentation of the global market for Vertical Farming Lighting Solution, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Vertical Farming Lighting Solution. This report contains market size and forecasts of Vertical Farming Lighting Solution in global, including the following market information:
Vertical farming, a method of growing crops in stacked layers or vertically inclined surfaces, has seen significant growth due to its potential to meet the rising food demand and its sustainability benefits. Central to the success of vertical farming is the lighting solution, which replicates natural sunlight to facilitate plant growth.
Energy Consumption: LED lighting solutions consume up to 40% less energy compared to traditional lighting systems such as HPS (High-Pressure Sodium) lamps. This efficiency is crucial for vertical farms operating in urban areas where energy costs are high.
Cost Reduction: End-users report a reduction in operational costs by approximately 25% after switching to advanced LED systems. This includes savings on electricity, maintenance, and replacement costs due to the longer lifespan of LED lights.
Yield Improvement: Studies indicate that vertical farms utilizing advanced lighting solutions can achieve up to a 30% increase in crop yield compared to those using traditional lighting. This is attributed to the ability of LED lights to provide a consistent and optimal light spectrum throughout the growth cycle.
Crop Cycle Time: The use of tailored LED lighting has reduced crop cycle times by an average of 15-20%, allowing for more harvests per year and thereby increasing overall productivity.
Carbon Footprint Reduction: Vertical farms with efficient lighting systems have reported a 20% reduction in their carbon footprint. This is due to lower energy consumption and the reduction in the need for transportation, as these farms are often located closer to urban centers.
Water Usage: End-users have noted that vertical farming with optimized lighting solutions can reduce water usage by up to 70% compared to traditional farming methods. The precise control over the growth environment minimizes water wastage.
Satisfaction Rate: Approximately 85% of vertical farmers express high satisfaction with modern lighting solutions, citing improvements in plant quality, energy savings, and operational efficiency as primary benefits.
Challenges Faced: Despite the advantages, 40% of end-users still face challenges such as the high initial cost of LED lighting systems and the need for technical expertise to manage and optimize these systems effectively.
Smart Lighting Solutions: The integration of IoT and AI in vertical farming lighting solutions is on the rise. About 30% of large-scale vertical farms have implemented smart lighting systems that adjust the light spectrum and intensity based on real-time data, further enhancing efficiency and yield.
Customization and Control: End-users report that customizable lighting solutions tailored to specific crops can improve growth rates and quality. For instance, using blue light to enhance vegetative growth and red light to promote flowering and fruiting.
Vertical farming lighting solutions are integral to the success of this innovative agricultural practice. With advancements in technology and a growing emphasis on sustainability, the adoption of efficient lighting systems is poised to increase, driving productivity and reducing environmental impact.
We surveyed the Vertical Farming Lighting Solution manufacturers, suppliers, distributors and industry experts on this industry, involving the sales, revenue, demand, price change, product type, recent development and plan, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Vertical Farming Lighting Solution Market, by Type, 2019-2024, 2025-2030 ($ Millions) & (K Units)
Global Vertical Farming Lighting Solution Market Segment Percentages, by Type, 2023 (%)
Global Vertical Farming Lighting Solution Market, by Application, 2019-2024, 2025-2030 ($ Millions) & (K Units)
Global Vertical Farming Lighting Solution Market Segment Percentages, by Application, 2023 (%)
Global Vertical Farming Lighting Solution Market, By Region and Country, 2019-2024, 2025-2030 ($ Millions) & (K Units)
Global Vertical Farming Lighting Solution Market Segment Percentages, By Region and Country, 2023 (%)
Competitor Analysis
The report also provides analysis of leading market participants including:
Further, the report presents profiles of competitors in the market, key players include:
Outline of Major Chapters:
Chapter 1: Introduces the definition of Vertical Farming Lighting Solution, market overview.
Chapter 2: Global Vertical Farming Lighting Solution market size in revenue and volume.
Chapter 3: Detailed analysis of Vertical Farming Lighting Solution manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6: Sales of Vertical Farming Lighting Solution in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: Global Vertical Farming Lighting Solution capacity by region & country.
Chapter 9: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 10: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 11: The main points and conclusions of the report.
