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967075

North America Horticulture Lighting Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Technology, Application, and Cultivation

Published: | The Insight Partners | 78 Pages | Delivery time: 1-2 business days

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North America Horticulture Lighting Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Technology, Application, and Cultivation
Published: September 15, 2020
The Insight Partners
Content info: 78 Pages
Delivery time: 1-2 business days
  • Description
  • Table of Contents
  • List of Tables

The horticulture lighting market in North America is expected to grow from US$ 830.5 million in 2019 to US$ 3,597.2 million by 2027; it is estimated to grow at a CAGR of 20.7% from 2020 to 2027.

Increase in population and advancements in greenhouse and indoor farming techniques are expected to boost the growth of the horticulture lighting market in North America. Due to the population boom, the demand for food products is anticipated to increase in the coming years. This is why numerous countries in North America are focusing on greenhouse and indoor farming techniques to increase their agricultural yield significantly. With the growing popularity of the concepts of horticulture and indoor crop cultivation, the North America horticulture lighting market is expected to pace up quickly in the near future as the farmers are adopting big data technologies, predictive analytics, the internet of things, and automation in the farming techniques. For example, The Vineland Research and Innovation Centre, a Canadian research organization, is currently testing a robot that picks mushrooms. Such developments and research initiatives taken in the horticulture field are driving the growth of the North America horticulture lighting market. Rising government initiatives is among the other factors expected to positively influence the demand for horticulture lighting in North America. Furthermore, in case of COVID-19, North America is the world's worst affected region due to coronavirus outbreak, specially the US. North America is an important market for the growth of horticulture lighting products owing to the presence of developed countries such as the US and Canada in this region. Large no. of farmers has been affected by coronavirus in North America, threatening access to agricultural labor and disrupting worldwide supply chains. However, for indoor farming, it has offered an opportunity. In vertical farming, the batches of crops can be watered individually and ignited with the help of LED lights, enabling them to be grown year-round with less resource. Nevertheless, the factory and business shutdowns across the US, Canada, and Mexico negatively impacted the sales of horticulture lighting products, such as LED lights and fluorescent lamps. COVID-19 has had a severe impact on logistics operations, transportation, and trade activity across North America.

Based on technology, the LED lights segment led the North America horticulture lighting market in 2019. LED lights are made from a very thin layer of doped semiconductor material. An LED emits colored light at a particular spectral wavelength, depending on the semiconductor material used and the amount of doping. The ability of LEDs to separate waste heat from the illumination allows the placement of LEDs near plant canopies without the risk of plants overheating. However, the cost of LED light bulbs is higher than the other horticulture lighting technologies, such as fluorescent lamps and HID lights. While working in indoor farms, the personnel need to use eye protection, since LEDs can be harmful to human eyes. Durability and easy availability of LED lights is the main reason for their success in market, which ultimately drives the North America horticulture lighting market.

The overall North America horticulture lighting market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the North America horticulture lighting market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants, such as valuation experts, research analysts, and key opinion leaders specializing in the North America horticulture lighting market. Major players operating in the North America horticulture lighting market include Agrolux; Bridgelux, Inc.; General Electric Company; Heliospectra AB; Hubbell, Inc.; Lumileds Holding B.V.; OSRAM Licht AG; PARsource; and Signify N.V.

Reasons to Buy:

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the North America horticulture lighting market.

Highlights key business priorities in order to assist companies to realign their business strategies.

The key findings and recommendations highlight crucial progressive industry trends in the North America horticulture lighting market, thereby allowing players across the value chain to develop effective long-term strategies.

Develop/modify business expansion plans by using substantial growth offering developed and emerging markets. Scrutinize in-depth North America market trends and outlook coupled with the factors driving the horticulture lighting market, as well as those hindering it.

Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution.

Product Code: TIPRE00014169

Table Of Contents

1. Introduction

  • 1.1 Study Scope
  • 1.2 The Insight Partners Research Report Guidance
  • 1.3 Market Segmentation
    • 1.3.1 North America Horticulture Lighting Market - By Technology
    • 1.3.2 North America Horticulture Lighting Market - By Application
    • 1.3.3 North America Horticulture Lighting Market - By Cultivation
    • 1.3.4 North America Horticulture Lighting Market- By Country

2. Key Takeaways

3. Research Methodology

  • 3.1 Coverage
  • 3.2 Secondary Research
  • 3.3 Primary Research

4. North America Horticulture Lighting Market Landscape

  • 4.1 Market Overview
  • 4.2 North America PEST Analysis
  • 4.3 Ecosystem Analysis
  • 4.4 Expert Opinion

5. North America Horticulture Lighting Market - Key Market Dynamics

  • 5.1 Market Drivers
    • 5.1.1 Rising Government Initiatives
    • 5.1.2 Increasing Population and Advancements in Greenhouse and Indoor Farming Techniques
  • 5.2 Market Restraints
    • 5.2.1 Less Awareness and High Costs Involved
  • 5.3 Market Opportunities
    • 5.3.1 Rising Importance of Vertical Farming
  • 5.4 Future Trends
    • 5.4.1 LED Lighting to Open New Growth Possibilities
  • 5.5 Impact Analysis of Drivers and Restraints

6. Horticulture Lighting Market - North America Analysis

  • 6.1 North America Horticulture Lighting Market Overview
  • 6.2 North America Horticulture Lighting Market - Revenue and Forecast to 2027 (US$ Million)
  • 6.3 Market Positioning - Five Key Players

7. North America Horticulture Lighting Market Analysis By Technology

  • 7.1 Overview
  • 7.2 North America Horticulture Lighting Market, By Technology (2019 and 2027)
  • 7.3 LED Lights
    • 7.3.1 Overview
    • 7.3.2 LED Lights: Horticulture Lighting Market - Revenue and Forecast to 2027 (US$ Million)
  • 7.4 High Intensity Discharge Lights
    • 7.4.1 Overview
    • 7.4.2 High Intensity Discharge Lights: Horticulture Lighting Market - Revenue and Forecast to 2027 (US$ Million)
  • 7.5 Fluorescent Lamps
    • 7.5.1 Overview
    • 7.5.2 Fluorescent Lamps: Horticulture Lighting Market - Revenue and Forecast to 2027 (US$ Million)

8. North America Horticulture Lighting Market Analysis By Application

  • 8.1 Overview
  • 8.2 North America Horticulture Lighting Market, By Application (2019 and 2027)
  • 8.3 Greenhouses
    • 8.3.1 Overview
    • 8.3.2 Greenhouses: Horticulture Lighting Market - Revenue and Forecast to 2027 (US$ Million)
  • 8.4 Vertical Farming
    • 8.4.1 Overview
    • 8.4.2 Vertical Farming: Horticulture Lighting Market - Revenue and Forecast to 2027 (US$ Million)
  • 8.5 Indoor Farming
    • 8.5.1 Overview
    • 8.5.2 Indoor Farming: Horticulture Lighting Market - Revenue and Forecast to 2027 (US$ Million)

9. North America Horticulture Lighting Market Analysis By Cultivation

  • 9.1 Overview
  • 9.2 North America Horticulture Lighting Market Breakdown, by Cultivation, 2019 & 2027
  • 9.3 Fruits and Vegetables
    • 9.3.1 Overview
    • 9.3.2 Fruits and Vegetables Market Revenue and Forecast to 2027 (US$ Million)
  • 9.4 Floriculture
    • 9.4.1 Overview
    • 9.4.2 Floriculture Market Revenue and Forecast to 2027 (US$ Million)

10. North America Horticulture Lighting Market - Country Analysis

  • 10.1 Overview
    • 10.1.1 North America: Horticulture Lighting Market, by Key Country
      • 10.1.1.1 US: Horticulture Lighting Market - Revenue and Forecast to 2027 (US$ Million)
        • 10.1.1.1.1 US: Horticulture Lighting Market, by Technology
        • 10.1.1.1.2 US: Horticulture Lighting Market, by Application
        • 10.1.1.1.3 US: Horticulture Lighting Market, by Cultivation
      • 10.1.1.2 Canada: Horticulture Lighting Market - Revenue and Forecast to 2027 (US$ Million)
        • 10.1.1.2.1 Canada: Horticulture Lighting Market, by Technology
        • 10.1.1.2.2 Canada: Horticulture Lighting Market, by Application
        • 10.1.1.2.3 Canada: Horticulture Lighting Market, by Cultivation
      • 10.1.1.3 Mexico: Horticulture Lighting Market - Revenue and Forecast to 2027 (US$ Million)
        • 10.1.1.3.1 Mexico: Horticulture Lighting Market, by Technology
        • 10.1.1.3.2 Mexico: Horticulture Lighting Market, by Application
        • 10.1.1.3.3 Mexico: Horticulture Lighting Market, by Cultivation

11. North America Horticulture Lighting Market- COVID-19 Impact Analysis

  • 11.1 North America: Impact Assessment of COVID-19 Pandemic

12. Industry Landscape

  • 12.1 Market Initiative
  • 12.2 Merger and Acquisition
  • 12.3 New Development

13. Company Profiles

  • 13.1 Agrolux
    • 13.1.1 Key Facts
    • 13.1.2 Business Description
    • 13.1.3 Products and Services
    • 13.1.4 Financial Overview
    • 13.1.5 SWOT Analysis
    • 13.1.6 Key Developments
  • 13.2 Bridgelux, Inc.
    • 13.2.1 Key Facts
    • 13.2.2 Business Description
    • 13.2.3 Products and Services
    • 13.2.4 Financial Overview
    • 13.2.5 SWOT Analysis
    • 13.2.6 Key Developments
  • 13.3 Signify N.V.
    • 13.3.1 Key Facts
    • 13.3.2 Business Description
    • 13.3.3 Products and Services
    • 13.3.4 Financial Overview
    • 13.3.5 SWOT Analysis
    • 13.3.6 Key Developments
  • 13.4 Heliospectra AB
    • 13.4.1 Key Facts
    • 13.4.2 Business Description
    • 13.4.3 Products and Services
    • 13.4.4 Financial Overview
    • 13.4.5 SWOT Analysis
    • 13.4.6 Key Developments
  • 13.5 PARsource
    • 13.5.1 Key Facts
    • 13.5.2 Business Description
    • 13.5.3 Products and Services
    • 13.5.4 Financial Overview
    • 13.5.5 SWOT Analysis
    • 13.5.6 Key Developments
  • 13.6 Lumileds Holding B.V.
    • 13.6.1 Key Facts
    • 13.6.2 Business Description
    • 13.6.3 Products and Services
    • 13.6.4 Financial Overview
    • 13.6.5 SWOT Analysis
    • 13.6.6 Key Developments
  • 13.7 OSRAM Licht AG
    • 13.7.1 Key Facts
    • 13.7.2 Business Description
    • 13.7.3 Products and Services
    • 13.7.4 Financial Overview
    • 13.7.5 SWOT Analysis
    • 13.7.6 Key Developments
  • 13.8 General Electric Company
    • 13.8.1 Key Facts
    • 13.8.2 Business Description
    • 13.8.3 Products and Services
    • 13.8.4 Financial Overview
    • 13.8.5 SWOT Analysis
    • 13.8.6 Key Developments
  • 13.9 Hubbell, Inc.
    • 13.9.1 Key Facts
    • 13.9.2 Business Description
    • 13.9.3 Products and Services
    • 13.9.4 Financial Overview
    • 13.9.5 SWOT Analysis
    • 13.9.6 Key Developments

14. Appendix

  • 14.1 About The Insight Partners
  • 14.2 Word Index

List Of Tables

  • Table 1. North America Horticulture Lighting Market - Revenue and Forecast to 2027 (US$ Million)
  • Table 2. US: Horticulture Lighting Market, by Technology -Revenue and Forecast to 2027 (US$ Million)
  • Table 3. US: Horticulture Lighting Market, by Application -Revenue and Forecast to 2027 (US$ Million)
  • Table 4. US: Horticulture Lighting Market, by Cultivation -Revenue and Forecast to 2027 (US$ Million)
  • Table 5. Canada: Horticulture Lighting Market, by Technology -Revenue and Forecast to 2027 (US$ Million)
  • Table 6. Canada: Horticulture Lighting Market, by Application -Revenue and Forecast to 2027 (US$ Million)
  • Table 7. Canada: Horticulture Lighting Market, by Cultivation -Revenue and Forecast to 2027 (US$ Million)
  • Table 8. Mexico: Horticulture Lighting Market, by Technology -Revenue and Forecast to 2027 (US$ Million)
  • Table 9. Mexico: Horticulture Lighting Market, by Application -Revenue and Forecast to 2027 (US$ Million)
  • Table 10. Mexico: Horticulture Lighting Market, by Cultivation -Revenue and Forecast to 2027 (US$ Million)
  • Table 11. List of Abbreviation

List Of Figures

  • Figure 1. North America Horticulture Lighting Market Segmentation
  • Figure 2. North America Horticulture Lighting Market Segmentation - By Country
  • Figure 3. North America Horticulture Lighting Market Overview
  • Figure 4. LED Lights Segment Held the Largest Market Share Based on Technology
  • Figure 5. Greenhouses Segment Held the Largest Market Share Based on Application
  • Figure 6. Fruits and Vegetables Segment Held the Largest Market Share Based on Cultivation
  • Figure 7. Mexico is Fastest Growing During Forecast Period
  • Figure 8. North America: PEST Analysis
  • Figure 9. Expert Opinion
  • Figure 10. North America Horticulture Lighting Market: Impact Analysis of Drivers and Restraints
  • Figure 11. North America Horticulture Lighting Market - Revenue and Forecast to 2027 (US$ Million)
  • Figure 12. North America Horticulture Lighting Market Revenue Share, by Technology (2019 and 2027)
  • Figure 13. North America LED Lights: Horticulture Lighting Market - Revenue and Forecast to 2027 (US$ Million)
  • Figure 14. North America High Intensity Discharge Lights: Horticulture Lighting Market - Revenue and Forecast to 2027 (US$ Million)
  • Figure 15. North America Fluorescent Lamps: Horticulture Lighting Market - Revenue and Forecast to 2027 (US$ Million)
  • Figure 16. North America Horticulture Lighting Market Revenue Share, by Application (2019 and 2027)
  • Figure 17. North America Greenhouses: Horticulture Lighting Market - Revenue and Forecast to 2027 (US$ Million)
  • Figure 18. North America Vertical Farming: Horticulture Lighting Market - Revenue and Forecast to 2027 (US$ Million)
  • Figure 19. North America Indoor Farming: Horticulture Lighting Market - Revenue and Forecast to 2027 (US$ Million)
  • Figure 20. North America Horticulture Lighting Market Breakdown, by Cultivation (2019 and 2027)
  • Figure 21. North America Fruits and Vegetables Market Revenue and Forecast to 2027(US$ Million)
  • Figure 22. North America Floriculture Market Revenue and Forecast to 2027(US$ Million)
  • Figure 23. North America: Horticulture Lighting Market Revenue Share, by Key Country (2019 and 2027)
  • Figure 24. US: Horticulture Lighting Market - Revenue and Forecast To 2027 (US$ Million)
  • Figure 25. Canada: Horticulture Lighting Market - Revenue and Forecast To 2027 (US$ Million)
  • Figure 26. Mexico: Horticulture Lighting Market - Revenue and Forecast To 2027 (US$ Million)
  • Figure 27. Impact of COVID-19 Pandemic on North American Country Markets