PUBLISHER: Industry Experts | PRODUCT CODE: 1438570
PUBLISHER: Industry Experts | PRODUCT CODE: 1438570
Hydroponics equipment is primarily needed for indoor farming and comprises Heating, Ventilation, & Air Conditioning (HVAC) Systems, LED Grow Lights, Irrigation Systems, Control Systems and Material Handling Equipment. These form crucial inputs that need to be considered while setting up a hydroponics farm. While the initial costs of establishing an indoor hydroponics farm might seem expensive, the returns over the longer run more often than not outweigh the initial outlay. Because of this, the extent of hydroponic farming across the globe has been growing quite rapidly.
Europe is expected to be the fastest growing global market for Hydroponics Equipment, which is likely to log a 2023-2029 compounded annual rate of 10.8% in reaching a projected US$3.5 billion by 2029 from an estimated US$1.9 billion (39.1% share) in 2023, the largest market during the analysis period. North America estimated the second largest market with US$1.1 billion in 2023 while Asia-Pacific is anticipated to emerge the second fastest growing market during the same analysis period with a CAGR of 10.6%. The overall global market for Hydroponics Equipment is expected to surpass US$5 billion in 2024.
The market for Hydroponics Equipment types analyzed in this report includes:
The report reviews, analyzes and projects the global Hydroponics Equipment market for the period 2020-2029 in terms of market value in US$ and the compound annual growth rates (CAGRs) projected from 2023 through 2029.