Cannabis Light Market Report: Trends, Forecast and Competitive Analysis to 2030

Cannabis Light Trends and Forecast

The future of the global cannabis Light market looks promising with opportunities in the greenhouse, indoor, and vertical farming markets. The global cannabis Light market is expected to reach an estimated $900 million by 2030 with a CAGR of 17.8% from 2024 to 2030. The major drivers for this market are increasing legalization of cannabis for medical uses, growing demand for high-quality cannabis, and government support for the cannabis industry.

A more than 150-page report is developed to help in your business decisions.

Cannabis Light by Segment

The study includes a forecast for the global cannabis Light by technology, application, and region.

Cannabis Light Market by Technology [Shipment Analysis by Value from 2018 to 2030]:

• Led Light
• High-Pressure Sodium Light
• Metal Halide Light
• UV Light
• Fluorescent Grow Light

Cannabis Light Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Greenhouse
• Indoor
• Vertical Farming

Cannabis Light Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Cannabis Light Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies cannabis Light companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the cannabis Light companies profiLED in this report include-

• Osram Licht
• Gavita Holland
• Illumitex
• Signify Holding
• Lumigrow

Cannabis Light Market Insights

Lucintel forecasts that LED light will remain the largest segment over the forecast period because it helps to improve the quality of cannabis products by increasing the production of cannabinoids and terpenes.

North America will remain the largest region over the forecast period due to the growing legalization of cannabis in both Canada and the United States, and growing cultivation of cannabis in the region.

Features of the Global Cannabis Light Market

Market Size Estimates: Cannabis Light market size estimation in terms of value ($M).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Cannabis Light market size by technology, application, and region in terms of value ($M).

Regional Analysis: Cannabis Light market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different technology, application, and regions for the cannabis Light market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the cannabis Light market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q.1 What is the cannabis Light market size?

Answer: The global cannabis Light market is expected to reach an estimated $900 million by 2030.

Q.2 What is the growth forecast for cannabis Light market?

Answer: The global cannabis Light market is expected to grow with a CAGR of 17.8% from 2024 to 2030.

Q.3 What are the major drivers influencing the growth of the cannabis Light market?

Answer: The major drivers for this market are increasing legalization of cannabis for medical uses, growing demand for high-quality cannabis, and government support for the cannabis industry.

Q4. What are the major segments for cannabis Light market?

Answer: The future of the global cannabis Light market looks promising with opportunities in the greenhouse, indoor, and vertical farming markets.

Q5. Who are the key cannabis Light market companies?

Answer: Some of the key cannabis Light companies are as follows:

• Osram Licht
• Gavita Holland
• Illumitex
• Signify Holding
• Lumigrow

Q6. Which cannabis Light market segment will be the largest in future?

Answer: Lucintel forecasts that LED light will remain the largest segment over the forecast period because it helps to improve the quality of cannabis products by increasing the production of cannabinoids and terpenes.

Q7. In cannabis Light market, which region is expected to be the largest in next 5 years?

Answer: North America will remain the largest region over the forecast period due to the growing legalization of cannabis in both Canada and the United States, and growing cultivation of cannabis in the region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the cannabis Light market by technology (LED Light, high-pressure sodium Light, metal halide Light, UV Light, and fluorescent grow light), application (greenhouse, indoor, and vertical farming), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?