Hydroponics Market 2020 Forecasts: 16.8% CAGR With HVAC Holding Largest Share

Feb 17, 2016, 01:00 ET from RnR Market Research

PUNE, India, February 17, 2016 /PRNewswire/ --

The global hydroponics market is projected to reach USD 395.2 million by 2020, to grow at a CAGR of 16.8% with HVAC accounting for the largest market share in 2014 and aggregate hydroponic systems lead the market with the largest share. Nutrients accounted for the maximum market share in 2014.

Complete report on global hydroponics market spread across 145 pages, profiling 10 companies and supported with 82 tables and 46 figures is now available at http://www.rnrmarketresearch.com/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-fore-ts-to-2020-market-report.html .

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.

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.

In-depth interviews have been conducted with various key industry participants, subject matter experts, C-level executives of key market players, and industry consultants among other experts to obtain & verify critical qualitative and quantitative information as well as assess future market prospects. In Tier 1 (25%), Tier 2 (20%) and Tier 3 (55%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-level (25%) and Manager Level (75%) from various key organizations operating in the global hydroponics market. The primary interviews were conducted worldwide covering regions such as North America (2%), Europe (10%), Asia-Pacific (83%) and Row (5%).

Leading players such as Argus Control Systems (Canada), Koninklijke Philips NV (The Netherlands), Genentech 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 Hydro farm, Inc. (U.S.). Order a copy of 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 research report at http://www.rnrmarketresearch.com/contacts/purchase?rname=479232 .

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

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.

On a related note, another research on Vertical Farming Market Global Forecast to 2020 says, the vertical farming market is expected to reach USD 3.88 billion by 2020, at a CAGR of 30.7% between 2015 and 2020. Lighting & hydroponic components dominates the functional devices segment of vertical farming market during the forecast period between 2015 and 2020. Companies like Aerofarms (U.S.), Farmed Here (U.S.), Koninklijke Philips N.V. (Netherlands), Illumitex, Inc. (U.S.), and Sky Greens (Singapore) have been profiled in this 173 pages research report available at http://www.rnrmarketresearch.com/vertical-farming-market-by-functional-device-lighting-hydroponic-component-climate-control-and-sensors-growth-mechanism-aeroponics-hydroponics-and-others-and-by-geography-global-forecast-to-2020-market-report.html .

Explore more reports on Food & Beverage market at http://www.rnrmarketresearch.com/reports/food-beverage .

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