The North American hydroponics market size is expected to reach USD 114.46 million in 2024 and reach USD 254 million by 2029, growing at a CAGR of 17.3 % from 2024 to 2029.
Hydroponics is a part of hydroculture, the technique for developing plants without soil, utilizing mineral nutrient solutions in a water solvent. Hydroponics allows you to grow any plant regardless of climate and conditions by supplying them with sufficient nutrients. The supplements in hydroponics can be from fish waste, duck compost, or ordinary supplements.
One of the important drivers is that hydroponics gives a higher yield compared with conventional agricultural techniques. It additionally gives farmers the capacity to develop crops in regions that can't support crops in soil. Moreover, hydroponics removes the use of counterfeit maturing operators and pesticides, which helps in making nutritiously superior vegetable items. Lack of awareness about the hydroponic agriculture system and high investment are some of the factors restraining the market growth to an extent.
REPORT METRIC |
DETAILS |
Market Size Available |
2023 to 2029 |
Base Year |
2023 |
Forecast Period |
2024 to 2029 |
CAGR |
17.3 %. |
Segments Covered |
By Equipment, Type, Crop Type, Input Type, Aggregate Hydroponics Systems, Liquid Hydroponic Systems, Closed Systems, and Country |
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
Regions Covered |
The U.S, Brazil, Argentina, Mexico, and Country |
Market Leaders Profiled |
Argus Control Systems, Koninklijke Philips NV, Greentech Agro LLC, Logiqs B.V., and Lumigrow, Inc. |
HVAC has the largest market share, followed by LED grow lights, in 2014. HVAC is dominating the market as heating, ventilation, and air-conditioning are the major elements required to create a controlled environment for hydroponic cultivation.
North America is the second-largest market and fastest-growing region in the world owing to its advanced agricultural techniques, the strong presence of major players, and increasing Demand for Healthy food.
Major Players dominating the market are Argus Control Systems, Koninklijke Philips NV, Greentech Agro LLC, Logiqs B.V., and Lumigrow, Inc. These are some of the market players dominating the North American hydroponics market.
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