Cannabis Lights Market: Industry Analysis and Forecast (2024-2030) by Technology, Spectrum, Application, Product and Region

The Cannabis Lights Market size was valued at USD 5.26 Billion in 2023 and the total Cannabis Lights revenue is expected to grow at a CAGR of 11.5% from 2024 to 2030, reaching nearly USD 11.26 Billion.

Cannabis Lights Market Overview:

The Global Cannabis Lights market is expected to grow significantly with a CAGR of 11.5% during the forecast period. The Global Cannabis Lights market is segmented on the basis of technology into LED, High Pressure Sodium Lights (HPS), High Intensity Discharge (HID), Fluorescent and Plasma. Additionally, Global Cannabis Lights market is segmented on the basis of spectrum into partial and full type. On the basis of application, the market is segmented into indoor, vertical, commercial greenhouse and others. Geographically the Global Cannabis Lights market is segmented into North America, Europe, Asia-Pacific, Middle-East and Africa and South America.Cannabis Lights Market snapshotTo know about the Research Methodology :- Request Free Sample Report Global Cannabis Lights Market report includes the market's growth drivers as well as its segments. Report includes market participants, and regional insights. This market study takes an in-depth look at all of the significant advancements that are currently occurring across all industry sectors. To provide key data analysis for the historical period (2018-2023), statistics, infographics, & presentations are used. The report examines the Global Cannabis Lights markets, Drivers, Restraints, Opportunities, & Challenges. This MMR report includes investor recommendations based on a detailed analysis of the current competitive landscape of the Global Cannabis Lights market.

Global Cannabis Lights Market Dynamics:

The cannabis lights market is expected to witness significant growth due to rise in demand of products associated with cannabis. Cost reduction in the fixtures and overall advancements in technology of cannabis lights is the driving factor of global cannabis lights market, more cost-effective options and easier HID lighting adoption will result as a result of this. Cannabis lights help to lengthen the hours of natural lighting, which helps to improve plant health, growth rate, and production. Crop availability can be extended using artificial lighting such as high-pressure sodium lighting, LED lighting, and plasma lighting (throughout a season). Growing public awareness of the need of alternative cannabis farming as a result of the scarcity of fertile agricultural land and rising demand are expected to drive global cannabis lights market upwards. Indoor cannabis farming, unlike traditional farming, may produce output all year, resulting in enhanced yield. Indoor cannabis farming can also preserve the cannabis from adverse weather by employing techniques such as controlled environment agriculture technology, in which facilities employ artificial environmental control, light management, and fertigation. Cannabis lights market is expected to grow at the fastest CAGR during the forecast period. The cannabis sector is rapidly expanding. Higher return on investment, cannabis legalization, and increasing funding for new vertical farms and greenhouses are all driving up demand for cannabis grow lights around the world. Gardeners are now focused on optimizing yields by managing the required level of light intensity to ensure overall yield uniformity, the LED light spectrum for cannabis plants differs from that of other plants, cannabis plants respond to wavelengths outside of the photosynthetically active radiation (PAR) spectrum in addition to visible hues and hence require technically skilled personnel to look after the area where cannabis is cultivated. The cannabis lights market is being driven by increased patient interest in the medical use of cannabis, as well as research interest in the medical use of cannabis plants. As a result, indoor cannabis growing has expanded, driving the cannabis lighting business.

Cannabis Lights Market Segment Analysis:

On the basis of technology, the HID (High Intensity Discharge) segment is projected to dominate the global cannabis lights market as it is used in commercial greenhouses and vertical farms which have the major market share amongst all other types of applications and hence this factor helps drive the market share of HID segment forward. On the basis of spectrum, partial spectrum segment is projected to dominate the market share because partial spectrum lights emit lights of various spectrum like blue, yellow or green. This variation is useful for different stages of the plant. Additionally, these lights can be used to target a specific growth stage of the cannabis plant which is desired by many cultivators. On the basis of application, the commercial greenhouse segment is projected to dominate the global cannabis lights market due to technological advancements in the commercial greenhouse segment. Vertical farming segment is projected to grow significantly during the forecast period. Cannabis Lights Market 1 On the basis of product, the < 300 Watts segment is projected to witness significant growth and dominate the global cannabis lights market during the forecast period. This is due to the technological advancements, energy conservation and product efficiency. These < 300 W products are more energy efficient than their counterparts and hence provide more value for money. Moreover, low power products can be used for longer duration because they produce lesser amount of heat as compared to the high-power products.

Cannabis Lights Market Regional Insights:

Geographically, European region is projected to dominate the global cannabis lights market, and is estimated to continue to do so throughout the forecast period. Growing public awareness of the need of alternative cannabis farming as a result of the scarcity of fertile agricultural land and rising demand are expected to drive industry forward. North American region is projected to witness the highest growth in terms of CAGR due to legalization of cannabis in many regions of the United States. Asia-Pacific region is projected to witness significant growth due to advancement in technology and rising level of disposable incomes amongst the residents of the constituent countries. Similarly, growing demand for cannabis and commercialization of indoor cannabis farming in the African region is also projected to witness significant growth. The objective of the report is to present a comprehensive analysis of the Global Cannabis Lights Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the Global Market dynamics, structure by analyzing the market segments and project the Global Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Market make the report investor’s guide.

Global Cannabis Lights Market Scope: Inquire before buying

Global Cannabis Lights Market
Report Coverage Details
Base Year: 2023 Forecast Period: 2024-2030
Historical Data: 2018 to 2023 Market Size in 2023: USD 5.26 Bn.
Forecast Period 2024 to 2030 CAGR: 11.5% Market Size in 2030: USD 11.26 Bn.
Segments Covered: by Technology LED High Pressure Sodium Lights (HPS) High Intensity Discharge (HID) Fluorescent Plasma
by Spectrum Partial Full
by Application Indoor Vertical Commercial Greenhouse Others
by Product < 300 Watts > 300 Watts

Global Cannabis Lights Market, by Region

North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe) Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina, Columbia and Rest of South America)

Global Cannabis Lights Market, Key Players

1. AeroFarms (US) 2. Everlight Electronics (Taiwan) 3. Gavita (Netherlands) 4. Heliospectra AB (Sweden) 5. Hortilux Schréder (Netherlands) 6. Illumitex (US) 7. LumiGrow Inc (US) 8. Osram Licht AG (Germany) 9. Signify (Netherlands) 10. Valoya (Finland) 11. Claifornia Lightworks (US) 12. Epistar (Taiwan) 13. Iwasaki Electric (Japan) 14. Bridgelux (US) 15. Lumileds (Netherlands) Frequently Asked Questions: 1. What is the forecast period considered for the global cannabis lights market report? Ans. The forecast period for the global cannabis lights market is 2024-2030. 2. Which key factor is hindering the growth of the global cannabis lights market? Ans. The key factor hindering the growth of global cannabis lights market is the high cost of cultivation of cannabis that is hindering the growth of overall cannabis market itself and hence also the cannabis lights markets. 3. What is the compound annual growth rate (CAGR) of the Global Cannabis Lights market for the forecast period? Ans. The compound annual growth rate (CAGR) of the global cannabis lights market for the forecast period is 11.5% 4. What are the key factors driving the growth of the global cannabis lights market? Ans. The key factors driving the growth of global cannabis lights market are legalization of cannabis in specific areas by US along with increased scientific interest in the medical use of cannabis. 5. What was the Global Cannabis Lights Market size in 2023? Ans: The Global Cannabis Lights Market size was USD 5.26 Billion in 2023.
1. Global Cannabis Lights Market: Research Methodology 2. Global Cannabis Lights Market: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Cannabis Lights Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Cannabis Lights Market: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12. COVID-19 Impact 4. Global Cannabis Lights Market Segmentation 4.1. Global Cannabis Lights Market, by Technology (2023-2030) • LED • High Pressure Sodium Lights (HPS) • High Intensity Discharge (HID) • Fluorescent • Plasma 4.2. Global Cannabis Lights Market, by Spectrum (2023-2030) • Partial • Full 4.3. Global Cannabis Lights Market, by Application (2023-2030) • Indoor • Vertical • Commercial Greenhouse • Others 4.4. Global Cannabis Lights Market, by Product (2023-2030) • < 300 Watts • > 300 Watts 5. North America Global Cannabis Lights Market (2023-2030) 5.1. North America Global Cannabis Lights Market, by Technology (2023-2030) • LED • High Pressure Sodium Lights (HPS) • High Intensity Discharge (HID) • Fluorescent • Plasma 5.2. North America Global Cannabis Lights Market, by Spectrum (2023-2030) • Partial • Full 5.3. North America Global Cannabis Lights Market, by Application (2023-2030) • Indoor • Vertical • Commercial Greenhouse • Others 5.4. North America Global Cannabis Lights Market, by Product (2023-2030) • < 300 Watts • > 300 Watts 6. European Global Cannabis Lights Market (2023-2030) 6.1. European Global Cannabis Lights Market, by Technology (2023-2030) 6.2. European Global Cannabis Lights Market, by Spectrum (2023-2030) 6.3. European Global Cannabis Lights Market, by Application (2023-2030) 6.4. European Global Cannabis Lights Market, by Product (2023-2030) 6.5. European Global Cannabis Lights Market, by Country (2023-2030) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Global Cannabis Lights Market (2023-2030) 7.1. Asia Pacific Global Cannabis Lights Market, by Technology (2023-2030) 7.2. Asia Pacific Global Cannabis Lights Market, by Spectrum (2023-2030) 7.3. Asia Pacific Global Cannabis Lights Market, by Application (2023-2030) 7.4. Asia Pacific Global Cannabis Lights Market, by Product (2023-2030) 7.5. Asia Pacific Global Cannabis Lights Market, by Country (2023-2030) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Global Cannabis Lights Market (2023-2030) 8.1. Middle East and Africa Global Cannabis Lights Market, by Technology (2023-2030) 8.2. Middle East and Africa Global Cannabis Lights Market, by Spectrum (2023-2030) 8.3. Middle East and Africa Global Cannabis Lights Market, by Application (2023-2030) 8.4. Middle East and Africa Global Cannabis Lights Market, by Product (2023-2030) 8.5. Middle East and Africa Global Cannabis Lights Market, by Country (2023-2030) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Substation Maintenance Market (2023-2030) 9.1. South America Global Cannabis Lights Market, by Technology (2023-2030) 9.2. South America Global Cannabis Lights Market, by Spectrum (2023-2030) 9.3. South America Global Cannabis Lights Market, by Application (2023-2030) 9.4. South America Global Cannabis Lights Market, by Product (2023-2030) 9.5. South America Global Cannabis Lights Market, by Country (2023-2030) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1. AeroFarms (US) 10.1.1. Overview 10.1.2. Financial Overview 10.1.3. Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Everlight Electronics (Taiwan) 10.3. Gavita (Netherlands) 10.4. Heliospectra AB (Sweden) 10.5. Hortilux Schréder (Netherlands) 10.6. Illumitex (US) 10.7. LumiGrow Inc (US) 10.8. Osram Licht AG (Germany) 10.9. Signify (Netherlands) 10.10. Valoya (Finland) 10.11. Claifornia Lightworks (US) 10.12. Epistar (Taiwan) 10.13. Iwasaki Electric (Japan) 10.14. Bridgelux (US) 10.15. Lumileds (Netherlands)
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