The North America Grow Lights Market is expected to witness market growth of 25.3% CAGR during the forecast period (2022-2028).
Certain artificial light sources have been utilized to cultivate plants inside. In the past, HPS and electric ballasts were frequently employed in indoor farming as efficient light sources. These days, LEDs are common; they improve upon the drawbacks of fluorescent (FL), HPS, metal halide, and electric ballast grow lights. However, compared to more traditional lighting technologies like FL and HID lamps, the initial expenditure needed to buy high-quality grow lights is more.
This is mainly because each type of LED grow light on the market has LED arrays that are intended for use in horticultural applications. A top-notch, full-spectrum LED grow light can be installed as the main light source for commercial indoor cultivation. Growers are cautious to embrace energy-efficient grow light technology like induction lighting, LED, and plasma lighting because of the stark price difference. Contrary to traditional farming, indoor farming may grow crops all year round, increasing output. Additionally, by using techniques like controlled environment agriculture technology, wherein facilities use artificial environmental control, regulation of light, and fertigation, indoor farming can shield crops from extreme weather conditions.
Urban farming is a growing trend in the United States that has a significant impact on the grow light business. Growing awareness of environmental issues is another factor fueling the market's growth. Grow lights are being used more frequently as a sustainable method of development because they are an eco-friendly method of assisting agricultural products. Furthermore, indoor farming is becoming more popular in the region, which is greatly boosting product demand. Other significant growth-promoting factors include a number of technological developments in the regional grow light market, such as the creation of smart grow lights connected to the Internet of Things (IoT).
The US market dominated the North America Grow Lights Market by Country in 2021, and is expected to continue to be a dominant market till 2028; thereby, achieving a market value of $2,368.1 million by 2028.The Canada market is poised to grow at a CAGR of 28.2% during (2022 - 2028). Additionally, The Mexico market is expected to witness a CAGR of 27% during (2022 - 2028).
Based on Spectrum, the market is segmented into Narrow and broad. Based on Technology, the market is segmented into Light Emitting Diode (LED), High Intensity Discharge (HID), Fluorescent and Others. Based on Application, the market is segmented into Commercial Greenhouse, Turf & Landscaping, Indoor Farming, Vertical Farming and Research & Others. Based on Installation Type, the market is segmented into New Installation and Retrofit. Based on Offering, the market is segmented into Hardware, Software and Services. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Signify N.V., Heliospectra AB, Gavita International B.V., California LightWorks (MWW Inc.), Valoya Oy, Hortilux Schréder (Dool Industries), Biological Innovation and Optimization Systems, LLC, GE Current, a Daintree company, Kroptek Ltd., and SANlight GmbH.
Certain artificial light sources have been utilized to cultivate plants inside. In the past, HPS and electric ballasts were frequently employed in indoor farming as efficient light sources. These days, LEDs are common; they improve upon the drawbacks of fluorescent (FL), HPS, metal halide, and electric ballast grow lights. However, compared to more traditional lighting technologies like FL and HID lamps, the initial expenditure needed to buy high-quality grow lights is more.
This is mainly because each type of LED grow light on the market has LED arrays that are intended for use in horticultural applications. A top-notch, full-spectrum LED grow light can be installed as the main light source for commercial indoor cultivation. Growers are cautious to embrace energy-efficient grow light technology like induction lighting, LED, and plasma lighting because of the stark price difference. Contrary to traditional farming, indoor farming may grow crops all year round, increasing output. Additionally, by using techniques like controlled environment agriculture technology, wherein facilities use artificial environmental control, regulation of light, and fertigation, indoor farming can shield crops from extreme weather conditions.
Urban farming is a growing trend in the United States that has a significant impact on the grow light business. Growing awareness of environmental issues is another factor fueling the market's growth. Grow lights are being used more frequently as a sustainable method of development because they are an eco-friendly method of assisting agricultural products. Furthermore, indoor farming is becoming more popular in the region, which is greatly boosting product demand. Other significant growth-promoting factors include a number of technological developments in the regional grow light market, such as the creation of smart grow lights connected to the Internet of Things (IoT).
The US market dominated the North America Grow Lights Market by Country in 2021, and is expected to continue to be a dominant market till 2028; thereby, achieving a market value of $2,368.1 million by 2028.The Canada market is poised to grow at a CAGR of 28.2% during (2022 - 2028). Additionally, The Mexico market is expected to witness a CAGR of 27% during (2022 - 2028).
Based on Spectrum, the market is segmented into Narrow and broad. Based on Technology, the market is segmented into Light Emitting Diode (LED), High Intensity Discharge (HID), Fluorescent and Others. Based on Application, the market is segmented into Commercial Greenhouse, Turf & Landscaping, Indoor Farming, Vertical Farming and Research & Others. Based on Installation Type, the market is segmented into New Installation and Retrofit. Based on Offering, the market is segmented into Hardware, Software and Services. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Signify N.V., Heliospectra AB, Gavita International B.V., California LightWorks (MWW Inc.), Valoya Oy, Hortilux Schréder (Dool Industries), Biological Innovation and Optimization Systems, LLC, GE Current, a Daintree company, Kroptek Ltd., and SANlight GmbH.
Scope of the Study
Market Segments Covered in the Report:
By Spectrum
- Narrow
- Broad
By Technology
- Light Emitting Diode (LED)
- High Intensity Discharge (HID)
- Fluorescent
- Others
By Application
- Commercial Greenhouse
- Turf & Landscaping
- Indoor Farming
- Vertical Farming
- Research & Others
By Installation Type
- New Installation
- Retrofit
By Offering
- Hardware
- Software
- Services
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Signify N.V.
- Heliospectra AB
- Gavita International B.V.
- California LightWorks (MWW Inc.)
- Valoya Oy
- Hortilux Schréder (Dool Industries)
- Biological Innovation and Optimization Systems, LLC
- GE Current, a Daintree company
- Kroptek Ltd.
- SANlight GmbH
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- Exhaustive coverage
- The highest number of Market tables and figures
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- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 3. North America Grow Lights Market by Spectrum
Chapter 4. North America Grow Lights Market by Technology
Chapter 5. North America Grow Lights Market by Application
Chapter 6. North America Grow Lights Market by Installation Type
Chapter 7. North America Grow Lights Market by Offering
Chapter 8. North America Grow Lights Market by Country
Chapter 9. Company Profiles
Companies Mentioned
- Signify N.V.
- Heliospectra AB
- Gavita International B.V.
- California LightWorks (MWW Inc.)
- Valoya Oy
- Hortilux Schréder (Dool Industries)
- Biological Innovation and Optimization Systems, LLC
- GE Current, a Daintree company
- Kroptek Ltd.
- SANlight GmbH
Methodology
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