North America Horticulture Lighting Market Forecast to 2027

The horticulture lighting market in North America is expected to grow from US$ 830.5 million in 2019 to US$ 3597.2 million by 2027; it is estimated to grow at a CAGR of 20.7 % from 2020 to 2027.

The North America horticulture lighting market is segmented based on technology, application, cultivation and country. Based on technology, the market is segmented into LED lights, high-intensity discharge (HID) lights, and fluorescent lamps. LED lights segment led the North America horticulture lighting market in 2019, and is anticipated to grow at the highest CAGR during the forecast period. In terms of application, the market is segmented into greenhouses, vertical farming, and indoor farming. Greenhouses segment held the largest market share in 2019 and vertical farming segment is anticipated to grow at the fastest CAGR during the forecast period. Based on cultivation, the market is segmented into fruits and vegetables, and floriculture. The fruits and vegetables segment is expected to dominate the market due to increase in demand for fresh vegetables.

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Agrolux; Bridgelux, Inc.; General Electric Company; Heliospectra AB; Hubbell, Inc.; Lumileds Holding B.V.; OSRAM Licht AG; PARsource; Signify N.V. are among the leading companies in the North America horticulture lighting market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Hubbell Lighting announced the improvement of NutriLED horticultural LED luminaire with the addition of more wavelengths. The improved version offers increased production, greater yield, and shorter growth periods for the indoor horticulture industry.

The report segments the North America Horticulture Lighting Market as follows:

North America Horticulture Lighting Market – By Technology

• LED Lights
• High Intensity Discharge Lights
• Fluorescent Lamps

North America Horticulture Lighting Market – By Application

• Greenhouses
• Vertical Farming
• Indoor Farming

North America Horticulture Lighting Market – By Cultivation

• Fruits and Vegetables
• Floriculture

North America Horticulture Lighting Market – By Country

• US
• Canada
• Mexico

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