The Market Research on the “Cannabis Lighting Market 2021-2026”, now available with Market Insights Reports, Introduces systematic details in terms of market valuation, market size, revenue estimation, and geographical spectrum of the business vertical. The Cannabis Lighting market report offers an overview of top company profiles with business value and demand status of the industry. The report also helps the user to understand the market in terms of its definition, segmentation, market potential, influential trends, and therefore the challenges that the market is facing. The impact of the COVID-19, and also forecasts its recovery post-COVID-19. The report also presents forecasts for Cannabis Lighting investments from 2021 till 2026.
The cannabis lighting market is expected to grow at a CAGR of 8% over the forecast period (2021-2026).
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The prominent players in the Global Cannabis Lighting Market:
OSRAM(Fluence BioEngineering), Illumitex Inc., General Electric Company, Signify Holding, LumiGrow, Inc., BIOS, LLC, Heliospectra AB, Cultilux, Vivosun, Gavita Holland BV, Sun System, and Others.
Competitive Analysis: –
– January 2020 – Fluence by OSRAM announced that they had expanded their geographical reach in the Emsland region of Germany through partnerships with growers and other horticulture specialists operating out of Papenburg.Elektro Evers, a firm specializing in greenhouse technology, is Fluences exclusive systems integrator in the Papenburg region.
– September 2019 – FOHSE INC. partnered with cannabis cultivator Green Life Productions, LLC to supply lighting products to the company. GLP is a licensed cannabis cultivation facility that has a primary focus on organic production of cannabis through no-till living soil systems, using the ethics and principles of permaculture.
Key Market Trends: –
LED Light is Expected to Occupy Significant Share
– As per, World Health Organization, indoor cultivation of cannabis under controlled environmental conditions can generate three or four crops per year. Thus, the cultivators, in order to reduce the overall production cost is shifting towards LED lighting. It is due to its ability to significantly reduce energy use is during cultivation.
– According to a report published by the Resource Innovation Institute, LED lights have the potential to save 40% on electricity relative to HID and other traditional lighting choices available for cannabis.
– Another benefit associated with the LED bulbs is that these bulbs are required less maintenance. As LEDs are more efficient than HID, less wattage equals less heat into space, allowing for potentially lower HVAC loads and operating expenses for the cannabis cultivators.
– Seeing the benefits associated with the LED bulbs and with increasing shifts towards LED, cannabis lighting vendors are coming up with new products to augment the market growth.
– For instance, in June 2019, Koninklijke Philips N.V. introduced Philips GreenPower LED top lighting compact which is a high-pressure sodium (HPS) replacement. The company claimed that the top lighting compact replaces 1,000-watt HPS lighting while offering the same amount of light and consuming 40% less power.
– Therefore, such benefits associated with the LED lightings are expected to augment the market growth.
North America Dominate the Market Growth
– North American is the largest cannabis market owing to the progressive legislative changes and increasing the commercial market in the region.
– Also, with the increasing medicinal market in the region, North America is expected to be the largest consumers of cannabis, which will drive the cannabis lighting market in the region. According to Health Canada in September 2018, there were 342,103 registered medical cannabis clients in Canada. The Alberta and Ontario regions combined accounted for over 78% of that number. And also, in March 2019, New York and Illinois, have legalized the use of cannabis as an alternative to addictive opioids to help treat chronic pain.
– Also, with the increasing legalization of cannabis in both Canada and the United States, is another factor that is driving the cannabis market, which would increase the cultivation of cannabis which in result will drive the cannabis lighting market in the region.
Explore Full Report with Detailed TOC Here:
Major Highlights of TOC
Chapter 1: Introduction
Chapter 2: Research Methodology
Chapter 3: Executive Summary
Chapter 4: Market Dynamics
Chapter 5: Market Segmentation
Chapter 6: Competitive Landscape
Chapter 7: Investment Analysis
Chapter 8: Market Opportunities And Future Trends
Customization of the Report: This report will be customized as per your needs for extra data up to 3 companies or 3 countries or nearly 40 analyst hours.
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