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Global Hydroponics Market Worth US$ 24.67 billion at A CAGR of 13.9%

 

According to the new press release, "Hydroponics Market, by Equipment (HVAC, LED grow light, Communication technology, Irrigation systems, Material handling, Control systems, others), Type (Aggregate & Liquid), Crop Type (Tomato, Lettuce & Leafy greens, Cucumber, Pepper, Strawberry, Others), Input Type (Nutrients, Growth medium) – Global Revenue, Trends, Growth, Share, Size, and Forecast to 2022", published by Scalar Market Research, the global polishing market was valued at over US$ 11.31 billion in 2016, and it expected to surpass US$ 24.67 billion at a CAGR of  13.9% during the forecast period (2016-2022).

          

Hydroponics is one of the fastest growing sector in the field of agriculture and is expected to dominate the food production. With rising global population and increasing urbanization, new technologies such as hydroponics and vertical farming can be the solution future solution. The market size of hydroponics is estimated at US$ 11.31 billion in 2016. North America is the fastest-growing market because of favourable government policies and legalization of marijuana in many states of the U.S. High adoption of NFT and other modern technologies such as aeroponics is projected to offer lucrative opportunities in the market.

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Key findings of the report:

  • The global hydroponics market is estimated to grow at a fast pace during the forecasted period because hydroponics approach offers higher yield when compared to the traditional agriculture methods. Several companies are entering into partnerships and signed agreements to use and promote hydroponics systems. This is also creating newer growth opportunities for the market.
  • Hydroponics market has a great potential for growth as it makes use of high-end technologies such as HVAC systems, LED grow light, communication technology, and so on, to offer efficient results to its users. With an increase in awareness about organic crops and better food quality, the hydroponics market shall continue growing during the forecasted period.

The hydroponics market is divided into five major geographical segments which are North America, Europe, Asia-Pacific, Middle East & Africa and Latin America. Europe region holds the highest market share and is the largest revenue contributor of the hydroponics market. The region is estimated to continue growing because of the availability of advanced techniques used in hydroponic smart greenhouse horticulture. Some countries in the Europe region have large greenhouse cultivation areas which is a contributing factor favoring the growth of hydroponics market. Next in line is the Asia-Pacific region which is witnessing a fast-paced growth due to increase in population and rise in demand for crop quality and security. The demand for food in developing countries is boosting the hydroponics market.

Browse Report Summary: https://www.scalarmarketresearch.com/market-reports/hydroponics-market

Key Topics Covered:

  • Market Overview
  • Executive Summary
  • Market Dynamics
  • Industry Analysis
  • Hydroponics Market, By Equipment
  • Hydroponics Market, By Type
  • Hydroponics Market, By Crop Type
  • Hydroponics Market, By Crop Type
  • Hydroponics Market, By Geography
  • Competitive Landscape

Key Market Players

  • Koninklijke Philips NV
  • Argus Control Systems Ltd.
  • Heliospectra AB
  • Logiqs B.V.
  • Lumigrow, Inc.
  • General Hydroponics, Inc.
  • American Hydroponics, Inc.
  • Greentech Agro, Llc
  • Hydrodynamics International, Inc.
  • Hydrofarm, Inc.

About Scalar Market Research:

Scalar Market Research Inc. aspires to assist organizations from around the world to achieve their business goal with premium market research reports and consulting services. Our real-time industry tracking with the help of advanced analytics offers a crystal clear view of all the activities in niche markets. Our team, with thorough global understanding, works relentlessly to gather the necessary market insights, including customer analysis, competitions and global forecast.

Find out more about our services at: www.scalarmarketresearch.com

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