Market Research Future Insights
According to MRFR analysis, The horticulture lighting market industry is projected to grow from USD 3.82 Billion in 2022 to USD 16.35 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 23.10% during the forecast period (2022 - 203. Horticulture lighting refers to the use of artificial lighting to enhance the growth and development of plants. This can include LED grow lights, fluorescent lamps, and high-intensity discharge lamps. Horticulture lighting is used in a variety of applications such as indoor farming, greenhouse cultivation, and plant research. The COVID-19 pandemic has had a mixed impact on the horticulture lighting industry. With lockdowns and social distancing measures in place, people have been spending more time at home and have been more interested in indoor gardening and indoor farming, leading to an increase in demand for horticulture lighting. Additionally, the pandemic has led to supply chain disruptions and decreased production capacity for some manufacturers, which can impact the availability of horticulture lighting.
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