The horticulture lighting market offers significant benefits by enhancing plant growth and yield. LED technology dominates this market due to its energy efficiency and customizable light spectrum, which promotes photosynthesis and controls plant morphology. These lights extend growing seasons, increase crop quality, and reduce energy costs, making them ideal for greenhouse and indoor farming. Additionally, LEDs produce less heat, minimizing the need for cooling systems. Their dominance is expected to persist as growers seek sustainable and cost-effective solutions for year-round cultivation.
According to Data Bridge Market Research, the North America Horticulture Lighting Market was valued at USD 2,382.15 million in 2022 and is expected to reach the value of USD 9,388.04 million by 2030, at a CAGR of 18.70% during the forecast period of 2023-2030.
“Escalating demand for organic food products boost the market’s growth”
The escalating demand for organic food products is a key driver for the horticulture lighting market. Organic farming relies on controlled environments to avoid synthetic pesticides and fertilizers. Horticulture lighting plays a pivotal role in creating optimal conditions for organic crop cultivation, ensuring consistent yields and high-quality produce. As consumers prioritize health and sustainability, the need for efficient lighting solutions in organic farming continues to grow, fueling the expansion of the horticulture lighting market.
What restraints the growth of the North America horticulture lighting market?
“High-cost restraints the market’s growth”
The horticulture lighting market faces a significant restraint in the form of high costs associated with purchasing and operating advanced lighting systems. While these systems offer long-term benefits such as increased yields and energy efficiency, the initial investment can be prohibitive for some growers, particularly smaller-scale operations. To address this issue, ongoing research and development efforts aim to reduce costs, making horticulture lighting more accessible and cost-effective for a broader range of growers.
Segmentation: North America Horticulture Lighting Market
The North America horticulture lighting market is segmented based on the type, offering, technology, lighting type, application, deployment, and cultivation.
- On the basis of type, the North America horticulture lighting market is segmented into infrared (880 nm and 935 nm), red (660 nm), blue (470 nm), red + white (600 to 700 nm), and others.
- On the basis of offering, the North America horticulture lighting market is segmented into hardware, software, and services.
- On the basis technology, the North America horticulture lighting market is segmented into fluorescent, high-intensity discharge (HID), light-emitting diode (LED), and other technologies.
- On the basis of lighting type, the North America horticulture lighting market is segmented into top lighting, and inter lighting.
- On the basis of application, the North America horticulture lighting market is segmented into greenhouses, vertical farming, indoor farming, and others.
- On the basis of deployment, the North America horticulture lighting market is segmented into turnkey, and retrofit.
- On the basis of cultivation, the North America horticulture lighting market is segmented into fruits and vegetables, and floriculture.
Regional Insights: The U.S. dominates the North America Horticulture Lighting Market
The U.S. leads market growth due to surging demand for indoor farms and vertical greenhouses. Horticulture lighting's energy efficiency, consuming less energy than traditional lighting, is a significant driving factor. This cost-effective and sustainable lighting solution caters to the expanding indoor agriculture sector. Consequently, the U.S. horticulture lighting market is poised to flourish, driven by the increasing adoption of energy-efficient lighting in vertical farming and greenhouse operations.
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Recent Developments
- In September 2020, Fluence Bioengineering, an Osram business unit, was rebranded as "Fluence by Osram." They entered a collaboration with Israel's Remy 108 Ltd and unveiled a fresh distribution of solid-state lighting (SSL). The primary focus of this partnership was on serving the rapidly growing legalized cannabis market in Israel.
- In July 2020, the European Commission approved the acquisition of Osram by Austrian optical sensor manufacturer AMS. The commission's ruling concluded that the merger of these two companies did not pose a competitive threat within the European Economic Area.
The Prominent Key Players Operating in the North America Horticulture Lighting Market Include:
- Heliospectra AB (Sweden)
- Excite LED Grow Lights (Switzerland)
- Greens Hydroponics (U.K.)
- UPSHINE Lighting (China)
- TESLUX Lighting s.r.o. (Czechia)
- Hortisystems UK Ltd (U.K.)
- ProGrowTech (U.S.)
- Ronfell Group (U.K.)
- General Electric (U.S.)
- Agrolux (Netherlands)
- SAMSUNG (South Korea)
- Hortilux Schréder B.V. (Netherlands)
- OSRAM GmbH (Germany)
- Signify Holding (Netherlands)
- BSSLED Manufacturing Ltd. (U.K.)
- Forge Europa (U.K.)
- Cropmaster LED (U.K.)
- TE Connectivity Ltd. (Switzerland)
- Cree, Inc. (U.S.)
- DiCon Lighting (U.S.)
- Valoya (Finland)
- EVERLIGHT (Taiwan)
- Gavita (Norway)
Above are the key players covered in the report, to know about more and exhaustive list of North America horticulture lighting market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: North America Horticulture Lighting Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
