Latin America Grow Light Market Size & Outlook, 2022-2030
Latin America grow light market, 2018-2030 (US$M)
Related Markets
Latin America grow light market highlights
- The Latin America grow light market generated a revenue of USD 454.8 million in 2022.
- The market is expected to grow at a CAGR of 13.6% from 2023 to 2030.
- In terms of segment, commercial greenhouse was the largest revenue generating application in 2022.
- Vertical Forming is the most lucrative application segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2023 to 2030.
Latin America data book summary
| Market revenue in 2022 | USD 454.8 million |
| Market revenue in 2030 | USD 1,263.2 million |
| Growth rate | 13.6% (CAGR from 2022 to 2030) |
| Largest segment | Commercial greenhouse |
| Fastest growing segment | Vertical Forming |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Indoor Farming, Vertical Forming, Commercial Greenhouse |
| Key market players worldwide | AeroFarms, Everlight Electronics, Illumitex, LumiGrow, OSRAM Licht AG, Heliospectra, Gavita, Hortilux Schréder |
Other key industry trends
- In terms of revenue, Latin America region accounted for 9.7% of the global grow light market in 2022.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 4,485.6 million by 2030.
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Grow Light Market Scope
Grow Light Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America grow light market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to grow light market will help companies and investors design strategic landscapes.
Commercial greenhouse was the largest segment with a revenue share of 49.98% in 2022. Horizon Databook has segmented the Latin America grow light market based on indoor farming, vertical forming, commercial greenhouse covering the revenue growth of each sub-segment from 2018 to 2030.
Government initiatives to develop the large to medium scale grow light farms is expected to spur the market growth over the projected period. Brazilian government implemented policies that facilitates loans and credits to farmers.
For example, in 2013, the government created the National Agency for Technical Assistance and Rural Extension (ANATER), which can address heterogeneity in Brazilian agriculture and can ensure the effective & efficient use of public sector investments in technology transfer by leveraging private sector resources.
The prevailing agriculture challenges in Brazil include practice of slave labor, growing urbanization, and agrarian reform. Growing adoption of organic agriculture among small farmers in South America is likely to enhance the regional market demand over the projected period.
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Our clientele includes a mix of grow light market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America grow light market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America grow light market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America grow light market size, by country, 2018-2030 (US$M)
Latin America Grow Light Market Outlook Share, 2022 & 2030 (US$M)
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