The North American grow light market is expected to reach USD 1,528.45 million in 2024 and reach USD 2,195.35 million by 2029, growing at a CAGR of 7.51% from 2024 to 2029.
The North American grow light market is developing at an exceptionally quick pace. Grow light is usually an artificial source of light that is used for stimulating the growth of plants. This is generally done where there is no light or very little amount of light present.
In winters when there is generally less amount of sunlight, grow lights are used. Grow Light generally duplicate the emission spectrum similar to that of sun / according to the needs of the plant. They are used for various purposes like food production, horticulture, indoor gardening and plant propagation. Although grow lights are mostly used on industrial level, they can used for household purposes also.
The driving factors for plants and grow lights showcase are the increasing interest in the capacity to develop locally and reliably, scarcity of space for cultivating, particularly in urban communities, and the need to build the yield per unit range without hurting nature. The opportunities in this market are immense but fluctuating and can run from innovative technologies in grow lights, consolidated utilization of normal lighting with simulated lighting, building up an oriented power-based plant manufacturing plant to building numerous level plant production lines, which would additionally diminish space necessity. Governments are also reassuring to plant industrial facilities and grow lights to enhance the generation.
Traditional lighting technologies like HID and fluorescent lighting (FL) are quite popular. LED grow light is a new technology in horticultural lighting and is proving to be far more effective than other lighting technologies. Although LED grow lights are costly, their long-term advantages in terms of energy efficiency make them an ideal option.
The North American market has been geographically segmented into the US, Canada, and Mexico. North America has the second highest no. Share in the flavored water market. The USA has the highest demand, followed by Canada and Mexico. The North American region is largely driven by environmental concerns.
Royal Philips Electronics, OSRAM Licht AG, PAR source Lighting Solutions, Bridgelux, General Electric Company, Alta LED Corporation, Solarmax,Heliospectra,LumiFlow are the leaders in the North America Grow Light market.
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