Hydroponics Market Insights, Size, Share, Opportunity Analysis, and Industry Forecast till 2025
Hydroponics is the method of growing plants without using soil or soil-less gardening using important nutrients in a mineral rich water solution. Hydroponics farming allows a plant to grow 50% faster than conventional method. It eliminates the need of pesticides and herbicides. In hydroponic gardening, any type of water can be use that can be recycle and re-used, which reduces the need of fresh water and uses less space.
Hydroponic is classified on the basis of equipment such as HVAC (Heating, Ventilation, and Air Conditioning), communication technology, LED grow light, irrigation system, material handling, control systems, and others. HVAC equipment segment accounted for the largest market revenue in hydroponics market, owing to increasing adoption of HVAC systems in hydroponics for basic usage.
The hydroponics market was valued at US$ 231.81 Million in 2016 globally and is expected to expand at a CAGR of 10.53% in terms of revenue during 2017 – 2025.
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Market Dynamics
The hydroponics market is expected to be dominated by Europe.The players in global hydroponics market are mainly focusing on R&D activities investment and launching of new products. Various mergers, acquisition, joint venture, and agreements are being carried out by the hydroponics players to expand their presence globally.
Competitive Section: Argus Control System (Canada), Koninklijke Philips NV (The Netherlands), Greentech Agro LLC (U.S.), Biodynamic LLC., General Hydroponics, Inc, Logiqs B.V. (The Netherlands), Lumigrow, Inc. (U.S.).
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