Hydroponics Market To Increase at Steady Growth Rate 2018-2026 By Top Vendors - Argus Control System , Koninklijke Philips NV , Greentech Agro LLC, Biodynamic LLC., General Hydroponics, Inc, Logiqs B.V., Lumigrow, Inc., Hydrofarm Inc, Hydrodynamics Intern
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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. Hydroponics is also classified on the basis of systems, such as aggregate hydroponic system and liquid hydroponic system. The aggregate hydroponic system is segmented into closed and open system where closed system is furthermore classified as the water culture system, the EBB and flow system, drip systems, and the wick system. The aggregate system segment is expected to account for largest market share as compared to that of liquid hydroponics systems, in global hydroponics market, as this system offers support medium for the crops to grow, whereas the liquid hydroponic system does not provide supporting medium to the crops.
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.
The hydroponics market is expected to be dominated by Europe. This is mainly attributed to increasing need of food security and higher yield of hydroponic system than conventional soil based crops. In Asia Pacific, the increasing use of commodity prices, increased competition from players, and need to curtail costs are some of the factors fueling the growth of hydroponics market in Asia Pacific region. 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.
Global Hydroponics Market, By Equipment:
LED Grow Light
Global Hydroponics Market, By System Type:
Aggregate Hydroponic Systems
The Water Culture Systems
The Ebb and Flow Systems
The Wick Systems
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Some of the key market players in hydroponics are 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.), Hydrofarm Inc, Hydrodynamics International Inc, Heliospectra AB, Village Farms International, Inc, Platinum Produce Company and Millennium Pacific Greenhouses Ltd, and Soave Enterprises LLC.
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