North America Horticulture Lighting Market Trends, Size, Segment and Growth by Forecast to 2030

The horticulture lighting market in North America is projected to grow from US$ 830.5 million in 2019 to US$ 3,597.2 million by 2027, reflecting a CAGR of 20.7% from 2020 to 2027.

Full Report Link - https://www.businessmarketinsights.com/reports/north-america-horticulture-lighting-market

Key Growth Drivers

1. Rising Adoption of Vertical Farming
o The increasing population is driving a surge in food demand, which conventional outdoor farming alone cannot meet.
o To address this, North American countries are investing in vertical farming, a method that utilizes vertically inclined surfaces for crop cultivation.
o Vertical farming integrates advanced technologies such as robotics, big data analytics, and Artificial Intelligence (AI) to optimize food production without agronomic limitations.

2. Environmental Sustainability
o Traditional farming methods contribute to environmental degradation, prompting a shift toward sustainable farming solutions like vertical farming.
o This approach minimizes pollution, enhances food production efficiency, and optimizes resource utilization.

3. Technological Advancements in Horticulture Lighting
o Improved LED lighting technologies enhance plant growth while reducing energy consumption, making horticulture lighting a crucial component of vertical farming.
o Innovations in spectrum tuning, energy efficiency, and smart lighting controls are further driving adoption.

Key Market Segments
In terms of technology, the LED lights segment accounted for the largest share of the North America horticulture lighting market in 2019. In terms of application, the greenhouses segment held a larger market share of the North America horticulture lighting market in 2019. Further, the fruits & vegetables segment held a larger share of the market based on cultivation in 2019.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the horticulture lighting market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Agrolux; Bridgelux, Inc.; General Electric Company; Heliospectra AB; Hubbell, Inc.; Lumileds Holding B.V.; OSRAM Licht AG; PARsource; Signify N.V.

North America Horticulture Lighting Strategic Insights

Strategic insights for the North America Horticulture Lighting provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

North America Horticulture Lighting Report Scope

Report Attribute Details
Market size in 2019 US$ 830.5 Million
Market Size by 2027 US$ 3597.2 Million
Global CAGR (2020 - 2027) 20.7%
Historical Data 2017-2018
Forecast Period 2020-2027

Segments Covered By Technology
- Fluorescent Lamps
- High Intensity Discharge Lights
- LED Lights

By Application
- Greenhouses
- Vertical Farming
- Indoor Farming

By Cultivation
- Fruits
- Vegetables
- Floriculture

Regions and Countries Covered North America
- US
- Canada
- Mexico

Market Leaders and Key Company Profiles
- Agrolux
- Bridgelux, Inc.
- General Electric Company
- Heliospectra AB
- Hubbell, Inc.
- Lumileds Holding B.V.
- OSRAM Licht AG
- PARsource
- Signify N.V.

North America Horticulture Lighting Regional Insights

The geographic scope of the North America Horticulture Lighting refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

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