Market Overview and Dynamics
The horticulture lighting market in North America is projected to grow significantly, rising from US$ 830.5 million in 2019 to US$ 3,597.2 million by 2027, at a compound annual growth rate (CAGR) of 20.7% from 2020 to 2027. A key driver of this growth is the increasing adoption of vertical farming across the region. As population growth continues to escalate, traditional farming methods alone are insufficient to meet the rising food demand. In response, countries in North America are turning to vertical farming—a method of cultivating crops on vertically stacked layers—as a sustainable solution.
Vertical farming integrates advanced technologies such as robotics, big data analytics, and artificial intelligence (AI) to produce high-quality crops efficiently and without the limitations of traditional agronomic practices. This approach not only maximizes food production but also minimizes environmental impact by reducing pollution and conserving resources. The numerous benefits of vertical farming, including space efficiency, reduced water usage, and year-round crop production, are expected to drive the demand for advanced horticulture lighting solutions, fueling market expansion across North America.
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The Growing Demand for Horticulture Lighting in North America
Horticulture lighting, which uses artificial light to support photosynthesis, is becoming increasingly vital for plant growth in environments with insufficient sunlight. This technology not only helps plants thrive but also enhances their development. The North American horticulture lighting market is seeing significant growth, largely driven by the rising adoption of LED technology.
Advantages of LED Horticulture Lighting
LED horticulture lighting offers several key benefits that are propelling its market traction. Its low power consumption and advanced existing technologies translate into lower energy costs for growers. This efficiency makes it an attractive option for various applications, including urban agriculture, multi-layer cultivation, supplemental lighting, and daylight-free cultivation.
Factors Driving Market Growth
Several factors are contributing to the expansion of the North America horticulture lighting market:
- Sustainable Farming Initiatives: Growing awareness of sustainable farming practices has led researchers, governments, and organizations to invest in improving horticulture with efficient and adequate lighting.
- Technological Advancements: The increasing demand for advanced lighting technologies is a major driver.
- Support for Vertical Farming: Companies are actively supporting farmers with financial and technical assistance to establish vertical farms. This development in vertical agriculture is significantly boosting the market.
- Government Initiatives: Rising government initiatives aimed at promoting horticulture lighting are expected to create substantial demand in the coming years.
Impact of COVID-19
While the COVID-19 pandemic severely impacted various sectors in North America, particularly in the US, it presented a unique opportunity for indoor farming. The ability to individually water and illuminate crop batches with LED lights in vertical farming allowed for year-round growth with fewer resources, offering a more resilient agricultural model.
However, the pandemic also posed challenges. Factory and business shutdowns across the US, Canada, and Mexico negatively affected the sales of horticulture lighting products like LED lights and fluorescent lamps. Additionally, COVID-19 had a significant impact on logistics, transportation, and trade activities throughout North America, disrupting supply chains for farmers.
Outlook for North America
Despite the initial disruptions caused by the pandemic, North America, with its developed economies like the US and Canada, remains a crucial market for horticulture lighting products. The long-term outlook for the region’s horticulture lighting market is positive, driven by the ongoing shift towards sustainable and controlled environment agriculture.
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.
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 market encompasses the specific regions where businesses operate and compete. Recognizing regional distinctions—such as varying consumer preferences (e.g., preferred plug types or required battery backup durations), local economic conditions, and regulatory frameworks—is essential for developing market-specific strategies. By identifying underserved areas and adapting product offerings to meet localized demands, companies can effectively expand their market presence. A well-defined regional focus enables more efficient resource allocation, sharper marketing efforts, and stronger competitive positioning, ultimately supporting growth in targeted segments across North America.
Key Market Segments
In 2019, LED lights accounted for the largest share of the North America horticulture lighting market by technology. Based on application, the greenhouse segment held the dominant market share. In terms of cultivation type, the fruits & vegetables segment led the market during the same year.
Key Sources and Companies
This report on the North America horticulture lighting market draws insights from a variety of primary and secondary sources, including company websites, annual and financial reports, government publications, and statistical databases. Major companies featured in the report include:
- Agrolux
- Bridgelux, Inc.
- General Electric Company
- Heliospectra AB
- Hubbell, Inc.
- Lumileds Holding B.V.
- OSRAM Licht AG
- PARsource
- Signify N.V.
Reasons to Purchase This Report
- Gain a comprehensive understanding of the North America horticulture lighting market landscape and pinpoint high-potential market segments.
- Stay competitive by monitoring the evolving market dynamics and competitive environment.
- Strategically plan mergers, acquisitions, and partnerships by identifying segments with the strongest growth potential.
- Make informed business decisions backed by detailed analysis of market performance across various segments.
- Access market revenue forecasts by segment for the period 2020–2027 across the North American region.
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Author’s Bio
Akshay
Senior Market Research Expert at Business Market Insights
