The North America Agricultural Lighting Market would witness market growth of 12.0% CAGR during the forecast period (2023-2030).
Food security is a concern as the population continues to rise, and farmers are under pressure to produce more food with fewer resources like land, water, and energy. With its ability to provide energy-efficient, economical, and sustainable solutions to boost crop yields, agricultural lighting technology is quickly becoming an essential tool in modern agriculture.
With the rising trend of vertical and indoor farming applications, the significance of LED lighting applications in agriculture activities such as horticulture is expanding. LEDs are frequently used in cultivation for a variety of crops, including tomatoes, herbs, greens, and cucumbers because they have controlled illuminance and spectrum. Several developments in horticulture lighting enable indoor agriculture to effectively boost crop productivity. In the absence or limited presence of natural light sources, horticulture lighting is the main source of indoor agriculture.
Farmers in the United States have been able to implement large-scale indoor farming with the use of high-efficiency LED lighting and improved indoor management procedures. Such approaches are estimated to save approximately 50% on energy lighting expenses, lowering the carbon footprint of controlled environment agriculture. The average production of regular lettuce farming increases when cultivated through vertical farming, according to the US Department of Agriculture. The greenhouse crop production sector currently dominates the indoor farming sector in the United States. These factors are anticipated to support the growth of overall market in North America region.
The US market dominated the North America Agricultural Lighting Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $4,671.6 million by 2030. The Canada market is showcasing a CAGR of 14.5% during (2023 - 2030). Additionally, The Mexico market would display a CAGR of 13.5% during (2023 - 2030).
Based on Installation, the market is segmented into New, and Retrofit. Based on Light Source, the market is segmented into LED, Fluorescent, HID, and Others. Based on Wattage Type, the market is segmented into Below 50W, 50 - 150W, and Above 150W. Based on Sales Channel, the market is segmented into Retail/Wholesale, Direct Sales, and Online/E-commerce. Based on Offering, the market is segmented into Hardware, Software, and Services. Based on Application, the market is segmented into Livestock, Horticulture, and Aquaculture. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Worldwide Agricultural Lighting Market is Projected to reach USD 26.7 Billion by 2030, at a CAGR of 12.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Signify N.V., ams-OSRAM AG, Tetra Laval International S.A. (DeLaval), Heliospectra AB, Valoya Oy, California LightWorks (MWW Inc.), Gavita International B.V., Hortilux Schréder (Dool Industries), and CBM Lighting, Inc.
By Installation
By Light Source
By Wattage Type
By Sales Channel
By Offering
By Application
By Country
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