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Global Hydroponics Technologies Market to Grow by $450.18 Million During 2020-2024 | Featuring Advanced LED Grow Lights, American Hydroponics, and CropKing Inc. among others | Technavio

December 15, 2020 GMT

LONDON--(BUSINESS WIRE)--Dec 15, 2020--

Technavio estimates the global hydroponics technologies market to grow by USD 450.18 million, progressing at a CAGR of almost 15% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.

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Technavio has announced its latest market research report titled Global Hydroponics Technologies Market 2020-2024. (Graphic: Business Wire)

The market is driven by facilitation in soil and space-saving. However, the high investment cost of hydroponic technologies might challenge growth.

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Hydroponics Technologies Market: Technology Landscape

Based on technology, the market witnessed maximum growth in the environment and climate control systems segment. The segment is expected to offer several growth opportunities for vendors over the forecast period.

Hydroponics Technologies Market: Geography Landscape

34% of the market’s growth originated from Europe in 2019. Factors such as the rising adoption of controlled environment agriculture for horticultural crops and the increasing development of new advanced technologies that target specific crop needs are fueling the growth of the hydroponics technologies market in Europe.

The Netherlands is the key market for hydroponics technologies in Europe. Market growth in this region will be slower than the growth of the market in APAC and North America.

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Major Three Hydroponics Technologies Market Vendors:

Advanced LED Grow Lights

Advanced LED Grow Lights operates its business through the Unified business segment. The company offers ARC LED Light Series 2.0 can grow any plant from seed to full harvest. The product has a slim design, no fans, and draws less power. The company also offers high quality, durability, low cost indoor grow tents and grow tent kits, such as LightHouse Grow Tent 4ft X 8ft, LightHouse Grow Tent 4ft X 4ft, 4 Ft X 4 Ft Gorilla Grow Tent For Indoor Gardening, and others.

American Hydroponics

American Hydroponics operates its business through segments such as Systems, NFT, Vine Crop, Propagation, Medical, and Others. The company offers various models of NFT systems such as AmHydro NFT 1200 System Kit and Get Growing NFT 10K Commercial Bundle. These models are equipped with features such as high horsepower pumps, drip caps, environmental controller, and CO2 burner. The company also offers AmHydro VC 20 System Kit, which is designed to produce tomatoes, cucumbers, or peppers. The product is equipped with features such as 30-gallon reservoir and custom steel table frame.

CropKing Inc.

CropKing Inc. operates its business through segments such as Greenhouses, Greenhouse supplies, NFT systems & supplies, Bato bucket systems & supplies, Fodders and microgreens, Aquaculture & Aquaponics, and Others. The company offers various models such as NFT 4-6, NFT 8-4, and NFT 8-25. These models are enclosed with top covers, and end caps to minimize algae growth, and the materials used are of food grade and UV stabilized. The company also offers 10 bucket Bato system and 24 bucket Bato system, which are equipped with features such as square aluminum stand, electronic timer, and feed pump.

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Related Reports on Industrials Include:

Global Floriculture Market – Global floriculture market is segmented by product (cut flowers, bedding plants, potted plants, and others), application (conferences and activities, gifts, and personal and corporate use), and geography (APAC, Europe, MEA, North America, and South America). Get a free sample report to know more

Global Crop Harvesting Robots Market – Global crop harvesting robots market is segmented by product (fruit and vegetable harvesting robots and grain harvesting robots) and geography (APAC, Europe, MEA, North America, and South America). Get a free sample report to know more

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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What our reports offer:

  • Market share assessments for the regional and country-level segments
  • Strategic recommendations for the new entrants
  • Covers market data for 2019, 2020, until 2024
  • Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)
  • Strategic recommendations in key business segments based on the market estimations
  • Competitive landscaping mapping the key common trends
  • Company profiling with detailed strategies, financials, and recent developments
  • Supply chain trends mapping the latest technological advancements

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com:https://www.businesswire.com/news/home/20201215005163/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email:media@technavio.com

Website:www.technavio.com/

KEYWORD:

INDUSTRY KEYWORD: AGRICULTURE NATURAL RESOURCES SCIENCE OTHER SCIENCE RESEARCH

SOURCE: Technavio Research

Copyright Business Wire 2020.

PUB: 12/15/2020 04:30 AM/DISC: 12/15/2020 04:31 AM

http://www.businesswire.com/news/home/20201215005163/en