Hydroponics - Global Market Outlook (2017-2023)
According to Stratistics MRC, the Global Hydroponics market is expected to grow from $226.45 million in 2016 to reach $724.87 million by 2023 with a CAGR of 18.1%. Decrease in arable land, growing population coupled with raising demand for food, and technological advancements in hydropincs are some of the factors boosting the market growth. In addition, increasing research & developments investments, raising adoption of vertical farming are propelling the market growth. On the other hand, high initial investments, complexity in technologies are some of the restraints hindering the market growth.
Heating, Ventilating, and Air Conditioning (HVAC) equipments are commanding the global market with a higher market revenue during the forecast period due to high adoption of these systems for basic usage in hydroponics. Europe region is expected to witness largest market in terms of revenue. The Asia Pacific region is expected to register substantial growth rate. The growth is attributed to increasing population and growing demand for food.
Some of the key players in global hydroponics market include AMCO Produce Inc., American Hydroponics, Inc., Argus Control Systems Ltd., BetterGrow Hydro, Eurofresh Farms, General Hydroponics, Inc., Greentech Agro, Llc, Heliospectra AB, Hydrodynamics International, Inc., Hydrofarm, Inc., HydroWholesale Inc, Koninklijke Philips NV, Logiqs B.V., Lumigrow, Inc., and Village Farms International.
Equipment Types Covered:
• Communication Technology
• Irrigation Systems
• LED Grow Light
• Heating, Ventilating, and Air Conditioning (HVAC)
• Control Systems
• Material Handling
• Other Equipment
System Types Covered:
• Liquid Hydroponic Systems
• Aggregate Hydroponic System
Crop Types Covered:
• Lettuce & Leafy Vegetables
• Other Crops
Input Types Covered:
• Growth Medium
- North America
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 7 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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