North America Grow Lights Market – Size, Trends and Forecast (2024 – 2032)

Published : 30 Aug 2024

Report Type : Regional

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North America Grow Lights Market - Size

Study Period

2018 - 2030

Base Year For Estimation

2023

Forecast Data Period

2024-2030

Historical Data Period

2018-2021

CAGR

7 %

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

To balance the pollution and to compensate hazards like global warming the vertical and rooftop farming is in the current trends, and this paved the way for the growth of the grow lights which are replacing all the older patterns. Grow lights are the LED’s which are used because of higher efficiency and low dissipation. Increasing population in the cities is a significant advantage which boosting up this markets.

North America Grow Lights Market Share & Growth:

North America Revenue of Grow lights market is valued at 2.93 Billion in 2018 and estimated to reach a value of 4.01 Billion in 2024 at CAGR of 15.89%. Critical parameters that promote North America grow lights markets are food security gaining importance in global arena and awareness about vertical farming, producing LED’s with higher efficiency and lower dissipation and factors like grow lights are costly when compared to LED’s and varying in wattage of grow light LED’s used for different purposes are

North America Grow Lights Market - Growth

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

hampering the growth of the grow lights market.

North America Grow Lights Market Share:

North America grow lights market is segmented by technology, by installation, by application, by spectrum, by geography. By technology increase lights market is classified as induction lights, high-intensity discharge (HID) lights, light emitting plasma grow lights (LEPs), fluorescent lights, light emitting diodes (LEDs). By installation, these are segmented as a new installation, retrofit installation. By application, these are segmented as TURF and Landscaping, indoor farming, commercial greenhouse, vertical farming, research. By spectrum, these are segmented by partial spectrum, full range. By geography, they are segmented as the United States, Canada, and Mexico.

North America Grow Lights Market Trends:

There is a rapid increase in markets of the grow lights. Launching the vertical and rooftop farming have paved the way for the rapid growth and rise in the markets of grow lights and made them have a broader outlook.
Grow Lights is having different applications in various domains.

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North America Grow Lights Market - Porter's Five Force Analysis

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

Some of the products like LX 60 grow lights with good efficiency are manufactured by heliospectra.

Alkanna LED which is launched with grow by number technique manufactured by Novagant Technologies is in the current trends.

North America Grow Lights Market Research Reports Includes:

An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.
To have complete market analysis through industry value chain analysis, Porter’s five, PESTLE, SWOT analysis, and Y-o-Y analysis.
Regional and North America diversity is analysed with the major countries and the unions. Scrutinizing the revenue generation on Year–On–Year
Identifying DROC in the current market and their impact in altering the market dynamics.
Competitive landscape analysis to identify the merger and acquisition which will have a comparative financial study with significant competitors.
Expertise investment opportunities by an analyst to the individual and organisation to have a better foothold in the market.
Identify the latest developments, market shares and strategies that are employed by the major market players, such as
Philips Electronics
Force Field Energy Inc.
CREE
Novagant
Valoya

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