Press release
Integrated Recirculating Aquaculture System (RAS) Market Key Players Analysis - Innovasea, Nocera, BioFishency, SENECT, Alpha Aqua.
Integrated Recirculating Aquaculture System (RAS) Market
According to the latest research by InsightAce Analytic, the Global Integrated Recirculating Aquaculture System (RAS) Market is valued at US$ 4.42 Bn in 2022, and it is expected to reach US$ 9.80 Bn by 2031, with a CAGR of 9.57% during the forecast period of 2023-2031.
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Integrated recirculating aquaculture systems (RAS) were gaining popularity in the aquaculture industry. These systems are designed to optimize water use, minimize environmental impact, and increase the overall efficiency of fish farming. Ongoing technological advancements have influenced the market for integrated RAS. Innovations in water treatment, monitoring systems, and automation have contributed to the efficiency and cost-effectiveness of these systems. Moreover, the aquaculture industry has attracted increased investment and funding, focusing on developing and expanding integrated RAS. Governments, private investors, and research institutions are recognizing the potential of these systems in meeting the demand for seafood while minimizing environmental impact. Several companies specialize in providing integrated RAS solutions, ranging from system design and installation to ongoing support and maintenance.
Additionally, rising Competition in the regional markets is likely to drive further research and advancements in system efficiency. Adopting integrated RAS varies by region and is influenced by local regulations, environmental conditions, and market demand. In some regions, government incentives and support may play a crucial role in the growth of integrated RAS.
List of Prominent Players in the Integrated Recirculating Aquaculture System (RAS) Market:
• Skretting
• Xylem
• RADAQUA
• PR Aqua
• AquaMaof
• Billund Aquaculture
• AKVA Group
• Hesy Aquaculture
• Aquacare Environment
• Qingdao Haixing
• Clewer Aquaculture
• Sterner
• Veolia
• MAT-KULING
• Pentair
• Innovasea
• Nocera
• BioFishency
• SENECT
• Alpha Aqua
• Diamond Water Systems
• Water Management Technologies Inc.
• Lifegard Aquatics
• Integrated Aqua Systems Inc.
• Arvo-Tec
• Aquatic Enterprises, Inc.
• Blue Ridge Aquaculture
• Other prominent players
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Market Dynamics:
Drivers-
Integrated Recirculating Aquaculture Systems (RAS) have gained prominence due to several key drivers that enhance their appeal in the aquaculture industry. One significant driver is the heightened focus on sustainability within the fisheries sector. RAS minimizes water usage by continuously filtering and recirculating water within the system, reducing the environmental impact of traditional open-loop aquaculture. Additionally, the ability to operate RAS facilities in land-locked areas or urban settings is a crucial factor in overcoming geographical limitations and bringing aquaculture production closer to consumer markets. Improved biosecurity is another driver, as RAS allows for better control over water quality, reducing the risk of disease outbreaks and enhancing overall fish health. Technological advancements in monitoring and automation further contribute to the efficiency and profitability of RAS by optimizing feeding, waste management, and environmental parameters. The increasing demand for high-quality, locally sourced seafood also drives the adoption of RAS, providing a reliable and controlled environment for producing fish with consistent quality throughout the year.
Challenges:
Integrated Recirculating Aquaculture Systems (RAS) face several challenges that impact their widespread adoption and operational success. One significant challenge is the high initial capital investment required to set up RAS facilities. The sophisticated technology, advanced filtration systems, and precise environmental control mechanisms contribute to the upfront costs, making it a barrier for smaller-scale operators or those in regions with limited financial resources. Additionally, the operational costs associated with energy consumption and system maintenance can be relatively high, posing economic challenges for sustained profitability.
Regional Trends:
The North American integrated recirculating aquaculture system (RAS) market share. The tech landscape in North America is dynamic, with organizations continually adopting new technologies. Integrated RAS solutions that align with emerging technologies and provide scalable options for future needs are likely well-received. North American businesses, particularly in sectors such as finance and healthcare, are subject to stringent compliance requirements. Integrated RAS solutions that offer features for ensuring compliance with data protection regulations are likely in demand. Besides, the European region had a substantial share of the market. European countries are known for adopting advanced technologies in various industries, and aquaculture is no exception. RAS systems incorporate advanced technologies for water treatment, monitoring, and control, making them well-suited for adoption in technologically advanced regions.
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Recent Developments
• In Dec 2023, Aquapurna and Billund Aquaculture have commenced construction of the largest shrimp farm in the world, featuring a high-intensity recirculating aquaculture system. The farm's design is progressing, and building is scheduled to commence in January 2024 on the 18,000-square-meter facility located at the Sigmundshall Industrial Site near Wunstorf, Germany.
• In Sept 2022, Nocera has declared the acquisition of a 229-acre plot of farmland in Montgomery, Alabama, with the purpose of establishing land-based fish farms in the United States. The lot was acquired for a sum of US $865,000, and the transaction was completed in 2022.
Segmentation of Integrated Aquaculture System (RAS) Market-
By Grade-
• Closed Type
• Semi Closed Type
By Application
• Outdoor System
• Indoor System
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa
About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
Contact us:
InsightAce Analytic Pvt. Ltd.
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