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

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

The North American horticulture lighting market is projected to grow from US$ 830.5
million in 2019 to US$ 3,597.2 million by 2027, with an estimated CAGR of 20.7%
from 2020 to 2027. The increasing significance of vertical farming is expected
to drive the growth of the horticulture lighting market in the region. The
rising population has created a substantial demand for food that cannot be met
solely through conventional outdoor farming. To address this, several North
American countries are investing in vertical farming, which involves
cultivating plants on vertically inclined surfaces. Vertical farming integrates
technologies like robotics, big data analytics, and Artificial Intelligence
(AI), enabling the production of healthy crops without the constraints of
traditional agriculture. Additionally, the environmental degradation caused by
conventional farming methods is encouraging the shift to vertical farming,
which helps reduce pollution, increases food production, and conserves
resources. These advantages are anticipated to significantly contribute to the
growth of the North American horticulture lighting market.

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Market Introduction

Horticulture lighting refers to artificial light used to
support photosynthesis, which is essential in environments lacking sufficient
natural sunlight. This lighting system promotes plant growth by providing the
necessary illumination for plants to thrive. The use of LED lighting technology
in horticulture is increasingly popular due to its many benefits, including low
power consumption and reduced energy costs, thanks to advancements in existing
technologies.

Horticulture lighting is applied in various areas, including
urban agriculture, multi-layer cultivation, supplemental lighting, and
daylight-free cultivation. As awareness of sustainable farming practices grows,
there has been a surge in initiatives by governments, researchers, and
organizations to improve horticultural practices through efficient lighting
solutions. The rising demand for advanced lighting technologies is expected to
drive the growth of the North American horticulture lighting market.

In particular, the establishment of vertical farms, where
financial and technical support is being provided to farmers, is contributing
significantly to the market’s expansion. Government initiatives are further
expected to spur demand for horticulture lighting in the coming years, thereby
fueling the growth of the North American market. Additionally, the COVID-19
pandemic, which heavily impacted North America, especially the US, created
challenges for farmers by limiting access to agricultural labor and disrupting
global supply chains. However, it also presented an opportunity for indoor
farming, particularly vertical farming. Vertical farms, which use LED lighting,
can grow crops year-round with minimal resources, making them ideal for
challenging times.

Although the pandemic led to factory and business shutdowns
in the US, Canada, and Mexico, which negatively affected the sales of
horticulture lighting products such as LED lights and fluorescent lamps, the
demand for indoor farming solutions remained strong. The disruptions in
logistics, transportation, and trade due to COVID-19 posed significant
challenges, but the ongoing interest in sustainable farming methods and
efficient lighting continues to drive the North American horticulture lighting
market.

Strategic insights for the North American horticulture
lighting market provide a comprehensive, data-driven analysis of the industry's
landscape, highlighting current trends, key players, and regional nuances.
These insights offer actionable recommendations to help stakeholders
differentiate themselves from competitors by identifying untapped opportunities
or crafting unique value propositions. By leveraging data analytics, these
insights enable industry participants—whether investors, manufacturers, or others—to
anticipate market shifts and position themselves for long-term success. A
future-focused approach is critical in navigating the dynamic nature of this
market, ensuring that stakeholders can make informed decisions that drive
profitability and achieve their business goals.

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.

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.

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horticulture lighting market.