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LED Grow Lights Leads Hydroponics Equipment Global Market to Reach $8.6 Billion by 2029 – Market Research Report (2023-2029) by Industry Experts, Inc

Wednesday 21 Feb 2024

Industry Experts, Inc. introduced the global market research report "Hydroponics Equipment – A Global Market Overview". According to this new report, HVAC is estimated the largest segment among the Hydroponics Equipment with US$1.4 billion in 2023 accounting for a share of 28.8% while LED Grow Lights segment is projected to grow with a fastest CAGR of 11.3% during the period 2023-2029.

Hydroponics equipment is primarily needed for indoor farming and comprises Heating, Ventilation, & Air Conditioning (HVAC) Systems, LED Grow Lights, Irrigation Systems, Control Systems and Material Handling Equipment. These form crucial inputs that need to be considered while setting up a hydroponics farm. While the initial costs of establishing an indoor hydroponics farm might seem expensive, the returns over the longer run more often than not outweigh the initial outlay. Because of this, the extent of hydroponic farming across the globe has been growing quite rapidly.

Europe is expected to be the fastest growing global market for Hydroponics Equipment, which is likely to log a 2023-2029 compounded annual rate of 10.8% in reaching a projected US$3.5 billion by 2029 from an estimated US$1.9 billion (39.1% share) in 2023, the largest market during the analysis period. North America estimated the second largest market with US$1.1 billion in 2023 while Asia-Pacific is anticipated to emerge the second fastest growing market during the same analysis period with a CAGR of 10.6%. The overall global market for Hydroponics Equipment is expected to surpass US$5 billion in 2024.

The study reviews, analyzes and projects the Hydroponics Equipment market for global and the regional markets including North America, Europe, Asia-Pacific, South America and Middle East & Africa for the period 2020-2029 in terms of value in USD. These regional markets further analyzed for 15 independent countries across North America – the United States, Canada and Mexico; Europe – France, Germany, Italy, Netherlands, Spain and the United Kingdom; Asia-Pacific – China, India, Japan and South Korea; South America – Argentina and Brazil.

The market for key types of Hydroponic Equipment analyzed in this report include Heating, Ventilation & Air Conditioning (HVAC) Systems; LED Grow Lights; Irrigation Systems; Control Systems and Material Handling Equipment.

This 144 page Hydroponics Equipment market report includes 94 charts (includes a data table), supported with a meaningful and easy to understand graphical presentation of the market. This report comprises brief business profiles of 12 key players and also provides a listing of the companies engaged in the Hydroponics Equipment market. The global list of companies covers addresses, contact numbers and the website addresses of 208 companies.

California, USA based Industry Experts, Inc. is a multi-industry focused market research provider.
For more details, please visit: https://industry-experts.com/verticals/food-and-beverage/global-hydroponics-equipment-market