Horticulture Lighting Market expected to expand at a high CAGR in terms of Revenue Generated and Growth Rate by 2032.
Horticulture Lighting Market Overview:
The global horticulture lighting market has been experiencing significant growth, with the market size valued at USD 3.1 billion in 2021. This growth trajectory continued as the industry expanded to USD 3.82 billion in 2022. Looking ahead, the market is projected to reach USD 16.35 billion by 2032, exhibiting a robust compound annual growth rate (CAGR) of 23.10% during the forecast period (2024 - 2032). This remarkable expansion is driven by various factors, including increased awareness of sustainability and initiatives by researchers, organizations, and governments to enhance horticulture practices.
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