The Hydroponics Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report the Hydroponics Market is estimated to be USD 212.3 million in 2016 and predicted to rise to USD 461.6 million by 2021 with a CAGR of 16.8 %. The market is segmented by Equipment (HVAC, LED Grow Light, Communication Technology, Irrigation Systems, Material Handling, Control Systems & others), by Type (Aggregate (Closed Systems (The Water Culture System, The EBB and Flow System, Drip Systems, and The Wick System), Open Systems) & Liquid (Nutrient Film Technique (NFT), Floating Hydroponics, and Aeroponics)), by Crop Type (Tomato, Lettuce & Leafy Vegetables, Cucumber, Pepper & Strawberry), & by Input Type (Nutrients, Growth Medium) and by Region – Global Industry Analysis, Size, Share, Growth, Trends and forecasts (2016-2021). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.
Hydroponics gives 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. These are some of the major factors driving the market. Lack of awareness about the hydroponic agriculture system and high investment are some of the factors restraining the market growth to an extent.
HVAC is dominating the market as heating, ventilation, and air-conditioning are the major elements required to create a controlled environment for hydroponic cultivation. LED Light is the second largest market.
Geographically, Europe dominates the global market with the highest share while North America is projected to be the fastest growing market during the forecast period. Europe has always been at the front line of executing advanced procedures in hydroponic smart Greenhouse cultivation. North America is the second largest market and fastest growing region in the world owing to its advanced agricultural techniques, 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.
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