Market Research Report
Middle East and Africa Horticulture Lighting Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Technology, Application, and Cultivation
|Middle East and Africa Horticulture Lighting Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Technology, Application, and Cultivation|
Published: September 15, 2020
The Insight Partners
Content info: 68 Pages
Delivery time: 1-2 business days
Middle East and Africa Horticulture Lighting Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Technology (Fluorescent Lamps, High Intensity Discharge Lights, and LED Lights), Application (Greenhouses, Vertical Farming, and Indoor Farming), and Cultivation (Fruits and Vegetables and Floriculture).
The MEA horticulture lighting market is expected to grow from US$ 83.9 million in 2019 to US$ 290.3 million by 2027; it is estimated to grow at a CAGR of 17.4% from 2020 to 2027.
Growing developments in greenhouse and indoor farming techniques and soaring population are expected to accelerate the growth of the MEA horticulture lighting market. According to the latest UN estimates, the population of the MEA would see a surge by 2030. Due to the population boom witnessed in South Africa and the UAE, the demand for food products is anticipated to rise in the next few years. This is why several countries are focusing on greenhouse and indoor farming techniques to increase their agricultural yield significantly. Use of artificial lights for farming purposes is quite low, particularly in countries, such as South Africa. Still, with the growing popularity of horticulture and indoor crop cultivation, the horticulture lighting market is expected to pace up quickly in the near future as the farmers are adopting big data technologies, predictive analytics, Internet of things, and automation in the farming techniques. Various developments and research initiatives taken in the horticulture field are driving the growth of the MEA horticulture lighting market. Furthermore, rise in initiatives taken by government is among the other factors expected to positively influence the demand for horticulture lighting in MEA.
Based on application, the greenhouse segment led the MEA horticulture lighting market in 2019. Greenhouses allow practicing horticulture in a protected environment, thus ensuring optimum yield. These facilities are designed to trap and retain natural sunlight and humidity, which makes it suitable for growing diverse variety of plants. Polyhouses or polytunnels are polyethylene greenhouses. Plants can either be grown via a conventional method that uses soil as a base or through the hydroponic technique. Plants grown in greenhouses are protected against external factors such as dirt. Also, they can be shielded from insects and pests with proper care. Moreover, in such settings, the plants are protected from rain, hail, intense heat and sunlight, and snow. In controlled environments, including greenhouses, electric lamps are adopted to supplement sunlight and prolong lighting times to deliver horticultural crops, such as flowers, vegetables, and herbs. Modern improvements in energy-efficient LED technology are supposed to make various lighting options available for the horticulture industry. The main reason for Greenhouses success is that it is an energy efficient lighting option. These factors ultimately drives the MEA horticulture lighting market. Furthermore, the recent ongoing COVID-19 pandemic is affecting the MEA region very badly. Among the MEA countries, South Africa has faced the highest number of COVID-19 confirmed cases, which is 611,450. Other major countries that are facing the economic impact of COVID-19 include Iran, Turkey, Saudi Arabia, UAE, Egypt, Morocco, and Kuwait. The region comprises many growing economies such as the UAE, which are prospective markets for horticulture lightning providers, owing to the huge investment in vertical farming. The COVID-19 pandemic is going to severely impact the MEA market compared to the other regions since the major problem related to declining oil prices are already affecting the economies of several oil-producing countries in MEA. Moreover, the factory lockdowns, business shutdowns, and travel bans are further aggravating the economic problems of the countries in the MEA region. Hence, the estimated decline in MEA's economic condition and impact of COVID-19 on the growth of various industries in the region are expected to negatively impact the growth of the horticulture lightning market in 2020 and 2021.
The overall MEA horticulture lighting market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the MEA horticulture lighting market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants, such as valuation experts, research analysts, and key opinion leaders specializing in the SAM horticulture lighting market. General Electric Company; Hortilux Schreder B.V.; Lumileds Holding B.V.; OSRAM Licht AG; Signify N.V. are among a few players operating in the MEA horticulture lighting market.
Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the MEA horticulture lighting market.
Highlights key business priorities in order to assist companies to realign their business strategies
The key findings and recommendations highlight crucial progressive industry trends in the MEA horticulture lighting market, thereby allowing players across the value chain to develop effective long-term strategies
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets Scrutinize in-depth MEA market trends and outlook coupled with the factors driving the horticulture lighting market, as well as those hindering it
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution