Hydroponics Market size was valued at US$ 10.57 Bn. in 2021 and the total revenue is expected to grow at 11.3 % CAGR through 2021 to 2029, reaching nearly US$ 24.89 Bn.
Hydroponics Market Overview:
The Hydroponics market study gives a comprehensive view of the competition, including the market share and company profiles of the major global competitors. The scope of the research includes a full examination of the Hydroponics Market, as well as the reasons for variations in the industry’s growth between regions.
Market Scope:
Following the completion of market engineering, which included market statistics computations, market size estimations, market forecasts, market breakdown, and data triangulation, extensive primary research was done to gather information and verify and validate important numbers. To undertake market estimating and forecasting for the overall market segments and sub-segments described in this research, top-down and bottom-up tactics, as well as different data triangulation procedures, were often employed throughout the market engineering process. Extensive qualitative and quantitative analysis is performed on all data obtained during the market engineering process in order to provide essential information throughout the report.
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Segmentation:
Based on type, Hydroponics market is segmented into Aggregate Hydroponic System and Liquid Hydroponic Systems. Aggregate hydroponic systems segment is expected to hold the largest share in the global hydroponics market during the forecast period owing to it consist of the most commonly used hydroponic systems such as the ebb and flow system, the water culture system, drip systems, and the wick system. The liquid hydroponic systems segment is also expected to drive the global hydroponics market in the near future. On the basis of equipment, HVAC is anticipated to hold the largest share in the global hydroponics market during the forecast period owing it has elements which are beneficial for control environment for hydroponic cultivation. In terms of input type, nutrients segment is estimated to hold the largest share in the global hydroponics market during the forecast period.
Key Players:
• Hydrofarm Inc
• Lumigrow Inc.
• Village farms
• Argus Control Systems Ltd.
• General Hydroponics Inc.
• Hydrodynamics International Inc
• Greentech Agro Inc.
• Heliospectra AB
• Logiqs B.V
• Koninklijke Philips NV.
• Thanet Earth
• Pegasus Agritech
• Growlife
• Circle Fresh Farms
• KUBO Greenhouse Projects
• HortiMaX
• Terra Tech
Market leaders are identified by primary and secondary research, and market revenue is calculated using primary and secondary research. The core study included in-depth interviews with key thought leaders and industry experts such as experienced front-line personnel, CEOs, and marketing executives. In-depth interviews with important thought leaders and industry experts, such as experienced front-line personnel, CEOs, and marketing executives, were conducted as part of primary research, while secondary research included a review of the major manufacturers’ annual and financial reports. Secondary data is utilized to calculate percentage splits, market shares, growth rates, and global market breakdowns, which are then verified against primary data.
The biggest players in the Hydroponics market are as follows:
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Regional Analysis:
Individual market influencing components and changes in market laws impacting current and future market trends are also covered in the Hydroponics market analysis regional overview. Current and future trends are studied in order to evaluate the overall market potential and find profitable patterns in order to get a firmer footing. The geographical market evaluation is based on the current environment and anticipated trends.
COVID-19 Impact Analysis on Hydroponics Market:
Due to a break in operations, end-user sectors where Hydroponics are used suffered a drop in growth from January 2020 to May 2020 in a number of countries, including China, Italy, Germany, the United Kingdom, the United States, and Spain, France, and India. As a result, the revenues of enterprises in these industries fell significantly, as did the demand for Hydroponics manufacturers, impacting the growth of the Hydroponics market in 2020. Lockdowns and a surge in COVID-19 events globally have severely reduced end-user business demand for Hydroponics.
Key Questions Answered in the Hydroponics Market Report are:
- In 2021, which segment held the highest proportion of the Hydroponics market?
- What is the Hydroponics market’s competitive landscape?
- What are the primary drivers assisting Hydroponics market growth?
- Which region has the most market share in the Hydroponics market?
- What will be the Hydroponics market’s CAGR throughout the projected period (2022-2027)?
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