North America Horticulture Lighting Market, By Offering (Hardware, Software & Services), By Deployment (Turnkey, Retrofit), By Technology (Fluorescent Lamps, HID Lights, LED Lights, Other), By Lighting Type (Toplighting, Interlighting), By Cultivation (Fruits & Vegetables, Floriculture), By Application (Greenhouses, Vertical Farming, Indoor Farming, Others), Country (U.S., Canada, Mexico) – Industry Trends and Forecast to 2027
Market Analysis and Insights: North America Horticulture lighting Market
North America horticulture lighting market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with highest a CAGR of 18.2% in the forecast period of 2020 to 2027 and expected to reach USD 5,398.49 million by 2027 from USD 1,421.35 million in 2019. Increasing demand of organic for in the North America region is driving the market growth.
Horticulture lighting allows the cultivation of the plants without any need of daylight through providing them artificial lights for the photosynthesis process in plants. The LED lights are the advanced technology which is used in the horticulture industry as it offers easy installations and low-cost solutions to the customer.
Several start-ups and food suppliers in North America have implemented LED horticulture lighting to overcome the environmental barriers. The long winter and poor sunlight have always been the limiting factors for agriculture and LED lighting has become a safe and effective choice for solving the problems. This has resulted in surge in in the demand for horticulture lighting in the forecasted period.
This horticulture lighting market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
North America Horticulture lighting Market Scope and Market Size
Horticulture lighting market is segmented on the basis offering, deployment, lighting type, cultivation, technology and application. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
North America Horticulture lighting Market, By Application
On the basis of offering, the market is segmented into hardware, software, and services. Hardware segment is dominating in the horticulture lighting market as hardware is considered to be the primary need for the deployment of horticulture lighting. This factor allows market to grow with the highest CAGR in the forecasted period of 2027.
On the basis of deployment, the market is segmented into turnkey solutions and retrofit solutions. The turnkey segment accounts highest market share as it gives the highest yield for the cultivation of crops.
On the basis of lighting type, the market is segmented into toplighting, interlighting, photoperiodic lighting, supplemental lighting and sole-source lighting. The toplighting segment is accounted with the largest market share as it acts as an important source for the plant growth helping the plant to prepare their food through artificial method.
On the basis of cultivation, the market is segmented into fruits, vegetables and floriculture. Vegitable is expected to dominate the industry due to increased demand for fresh vegetables, resulting in increased output of vegetables. In fact, these vegetables are easily grown for cultivation in indoor agriculture, with less need for water and soil. Increasing demand for nutritional food from North America region increases the demand of vegetables.
On the basis of application, the market is segmented into greenhouses, vertical farming, indoor farming and others. Indoor segment is expected to dominate the global vertical farming market as the rising scarcity of arable land for the production of crop due to the rising urbanization has increase the construction of commercial buildings due to which the farmers not have sufficient amount of land for the cultivation. Moreover, climatic factors such as land slide availability of resources such as water, and soil and among others.
Horticulture Lighting Market Country Level Analysis
Horticulture lighting market is analysed and market size information is provided by country, by offering, deployment, lighting type, cultivation, technology and application as referenced above.
The countries covered in the horticulture lighting market report are U.S., Canada and Mexico.
North America horticulture lighting market is growing due to the huge demand of nutritious food. For instance, In the U.S. about 20,000 natural food stores are available and around 3 out of 4 conventional grocery stores have organic products. The total organic sales accounted over 4% of total the U.S. food sales. These factors help to increase organic food demand in the U.S. These growing demands of organic food boost the North America horticulture lighting market.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, and regulatory act and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of regional brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
New Product and Technology Launches by Lighting Manufacturers in Horticulture Lighting Market
Horticulture lighting market also provides you with detailed market analysis for every country growth in installed base of different kind of products for horticulture lighting market, impact of technology using life line curves and their impact on the horticulture lighting market. The data is available for historic period 2010 to 2018.
Competitive Landscape and Horticulture Lighting Market Share Analysis
Horticulture lighting market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, clinical trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to North America horticulture lighting market.
The major players covered in the report are Signify Holding, SAMSUNG, Cree, Inc, OSRAM GmbH., among other domestic and global players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
- In February 2019, Cree Inc. launched the XLamp XP-E2 Far Red (730 nm) and Photo Red (660 nm) LEDs for horticulture applications. Red XP-E2 LEDs offers upgradation for last generation and gives efficiency up to 68% more than previous LED. These LEDs has lessened the payback time as well as upsurge the LED luminaires efficiency. This development helps to provide efficient upgradation along with improved product performance for their customers.
- In December 2017, Cree Inc. launched the XLamp XD16 LED, the first Extreme Density LED in the industry. This can transmit up to 5 1⁄2 times higher lumen volume than the LEDs of the last generation. It is based on the NX Technology Platform of Cree. This development has helped the company to maximize its customer base by delivering a product by decreasing the overall weight and size and by designing the beam control better.
Such product launches enhances the company market share with increased coverage through wide range of product portfolio. It also provides the benefit for organisation to improve their offering for horticulture lightings through expanded model range
Customization Available : North America Horticulture lighting Market
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