NEW YORK, Feb. 25, 2016 /PRNewswire/ -- "Hydroponics market projected to grow at a CAGR of 16.8%"
The global hydroponics market is projected to reach USD 395.2 million by 2020. In 2015, Europe is estimated to be the largest market for hydroponics. North America is projected to be the fastest-growing market for hydroponics during the forecast period. The market is majorly driven by factors like higher yields compared to traditional agriculture and the lack of arable land and unfavorable climatic conditions for agriculture.
"HVAC accounted for the largest market share in 2014"
Among the equipment used in hydroponics, that is, HVAC, LED grow lights, communication technologies, irrigation systems, material handling, control systems, and others, HVAC accounted for the largest market share, followed by LED grow lights, in 2014. HVAC dominated the market as heating, ventilation, and air-conditioning are the major elements required to create a controlled environment for hydroponic cultivation.
"Aggregate hydroponic systems lead the market with the largest share"
On the basis of type, the hydroponics market is led by the aggregate hydroponic systems segment, followed by the liquid hydroponic systems segment. The aggregate hydroponic systems dominate the market as they consist of the highest used hydroponic systems like the water culture system, the ebb and flow system, drip systems, and the wick system
"Nutrients accounted for the maximum market share in 2014"
Among the input types like nutrients and growth media, nutrient accounted for the largest market share, followed by growth media, in 2014. There are two major types of nutrients used in hydroponics: micronutrients and macronutrients. Macronutrients accounted for the majority of the share of nutrients used in hydroponic systems.
- By Company Type: Tier 1 – 25%, Tier 2 – 20%, and Tier 3 – 55%
- By Designation: C level – 25% and Manager level – 75%
- By Region: North America - 2%, Europe – 10%, Asia-Pacific – 83%, and RoW – 5%
Leading players such as Argus Control Systems (Canada), Koninklijke Philips NV (The Netherlands), Greentech Agro LLC (U.S.), Logiqs B.V. (The Netherlands), and Lumigrow, Inc. (U.S.) have been profiled in the report. Other players include American Hydroponics (U.S.), Heliospectra (Sweden), Hydrodynamics International, Inc. (U.S.), General Hydroponics, Inc. (U.S.), and Hydrofarm, Inc. (U.S.).
Reasons to buy this report:
- To get a comprehensive overview of the global hydroponics market
- To gain wide-ranging information about the top players in this industry, their product portfolios, and key strategies adopted
- To gain insights into the major countries/regions in which the hydroponics market is flourishing
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