Hydroponics Market Worth USD 395.2 Million USD by 2020
PUNE, India, February 11, 2016 /PRNewswire/ --
The report "Hydroponics Market by Equipment (HVAC, LED Grow Light, Communication Technology, Irrigation Systems, Material Handling & Control Systems), Type (Aggregate & Liquid), Crop Type, & by Input Type - Global Trends & Forecasts to 2020", The global market is projected to reach USD 395.2 Million by 2020, growing at a CAGR of 16.8% from 2015 to 2020.
Browse 82 market data Tables and 46 Figures spread through 145 Pages and in-depth TOC on "Hydroponics Market"
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There have been various factors which have played a major role in driving the Hydroponics Market across the globe. One of the major drivers is that hydroponics provides higher yield compared to traditional agricultural techniques. It also provides farmers the ability to grow crops in areas that cannot support crops in soil. Furthermore, hydroponics eliminates the use of artificial ripening agents and pesticides, which helps in creating nutritionally superior vegetable products.
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 consist of the most commonly used hydroponic systems like the water culture system, the ebb and flow system, drip systems, and the wick system. The usage of this commonly used system is a major driver for the aggregate hydroponic systems across the globe.
HVAC accounted for the largest market share in 2014
HVAC accounted for the largest market share, followed by LED grow lights, in 2014. HVAC is dominating the market as heating, ventilation, and air-conditioning are the major elements required to create a controlled environment for hydroponic cultivation. Other equipment used in hydroponics includes LED grow lights, communication technologies, irrigation systems, material handling, control systems, and others.
Nutrients is the major input type used in hydroponic systems in 2014
Hydroponic systems consist of various types of inputs, apart from the equipment used in systems. These inputs are categorized into two types, namely, nutrients and mediums. There are two major types of nutrients used in hydroponics: micronutrients and macronutrients. In 2014, macronutrients accounted for the majority of the share of nutrients used in hydroponic systems as they are commonly used in efficient growth of the crops in a controlled environment.
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Key to success of the Hydroponics Market in the European region
Europe has traditionally been at the forefront of implementing advanced techniques in hydroponic smart greenhouse horticulture. Countries such as The Netherlands, Spain, and France have large areas under greenhouse cultivation. However, in The Netherlands, growers mostly cultivate their plants in simple tunnel-like greenhouses without the use of climate control technologies. Hydroponics has flourished in Scandinavian countries where traditional agricultural techniques are nearly impossible during the winter season.
This report includes a study of marketing and development strategies, along with the product portfolio of leading companies. It includes the profiles of leading hydroponics companies 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.).
In terms of insights, this research report has focused on various levels of analyses industry analysis, market share analysis of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape, emerging & high-growth segments of the global Hydroponics Market, high-growth regions, countries, and their respective regulatory policies, government initiatives, drivers, restraints, and opportunities.
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