CHICAGO, Jan. 25, 2021 /PRNewswire/ -- According to the new market research report "Hydroponics Market by Type (Aggregate Systems, Liquid Systems), Crop Type (Vegetables, Fruits, Flowers), Equipment (HVAC, LED Grow Lights, Irrigation Systems, Material Handling Equipment, Control Systems), Input Type, and Region - Global Forecast to 2026", published by MarketsandMarkets™, the market size is estimated to account for a value of USD 9.5 billion in 2020 and is projected to grow at a CAGR 11.3% from 2020, to reach a value of USD 17.9 billion by 2026. Factors such as the higher yield as compared to conventional agriculture practices, controlled environment farming, and improved yield and higher produce with limited land resources are some of the key factors driving the growth of the hydroponics system market during the forecast period.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=94055021
By type, the nutrient film technique (NFT) system segment is estimated to account for a larger market share, in terms of value, in 2020
The nutrient film technique (NFT) segment is projected to hold a larger market share in the liquid system segment. The growing popularity of NFT and aeroponic systems has propelled their adoption in developing countries, owing to which, the liquid systems are projected to grow at the fastest rate during the forecast period. Owing to the high production of lettuce in North America, the adoption of NFT systems is high in the region; hence the NFT segment dominated the market in 2020.
The vegetables segment, on the basis of crop type, is estimated to hold the largest share in the hydroponics market, in terms of value, in 2020
The vegetables segment is projected to hold the largest market share in the hydroponic crops market in 2020. Vegetables that can be grown hydroponically include tomatoes, leafy greens, cucumbers, and peppers, which include microgreens and baby greens. Considering the use of the proper system, a wide variety of plants can be grown hydroponically. Vegetables that are grown using hydroponics are known to grow faster and stronger compared to traditional farming as the right nutrients are delivered directly to the plant's roots.
Browse in-depth TOC on "Hydroponics Market"
161 – Tables
63 – Figures
230 – Pages
By equipment, the HVAC segment is estimated to account for a larger market share, in terms of value, in 2020
By equipment, the HVAC segment is projected to hold the largest market share in the hydroponic systems market in 2020. Heating, Ventilation & Air Conditioning or HVAC plays a key role in the development of indoor growers, as the system is responsible for cooling, dehumidification, and maintaining the optimum temperature inside the facility. HVAC systems are essential for the operation of hydroponic and aeroponic farms and should be reliable and well-controlled.
The nutrient segment, on the basis of input, is estimated to hold the largest share in the hydroponic inputs market, in terms of value, in 2020
The nutrient segment is projected to hold the largest market share in the hydroponic inputs market in 2020. Nutrients are one of the basics of hydroponic systems as it caters to the nutritional requirement of the plant. There are two major types of nutrients used in hydroponics, macronutrients, and micronutrients. Hydroponics helps the grower to take complete control over the implementation of fertilizers, in terms of type and concentration. During the application of nutrients, nutrient concentration to suffice plant needs at every growth phase and EC strength at the stage of growth must be monitored.
Asia Pacific is projected to grow at the highest CAGR during the forecast period
Asia has the largest greenhouse vegetable growing area of 224,974 ha across the globe, followed by Europe with 173,561 ha as per the report on protected horticulture by FAO in 2017. Thus, with the high number of greenhouses in Asia Pacific, the growth opportunity for hydroponic market is the highest and hence, the region is expected to grow at the highest rate during the forecast period.
Request for Customization: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=94055021
This report includes a study on the marketing and development strategies, along with a survey of the product portfolios of the leading companies operating in the hydroponics market. It includes the profiles of leading companies, such as Signify Holdings (Netherlands), Argus Control Systems (Canada), Heliospectra AB (Sweden), Scotts Miracle Gro (US), Logiqs B.V (Netherlands), Grobo (US), American Hydroponics (US), and LumiGrow (US).
Indoor Farming Technology Market by Growing System (Hydroponics, Aeroponics, Aquaponics, Soil-based, Hybrid), Facility Type, Component, Crop Type (Fruits & Vegetables, Herbs & Microgreens, Flowers & Ornamentals), and Region - Global Forecast to 2022
Smart Greenhouse Market by Type (Hydroponics and Non-Hydroponics), Covering Material Type (Polyethylene, Polycarbonate, and Others), Offering (Hardware and Software & Services), Component, Cultivation, End User, Region - Global Forecast to 2025
Browse Adjacent Reports: Agriculture Industry Market Research Reports & Consulting
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets' flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/hydroponic-market.asp
Visit Our Web Site: https://www.marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/hydroponic.asp