The Global Aquaponic and Hydroponic Systems and Equipment Market is Expected to $2.74 Billion by 2026, reveals the premium market intelligence study by CRI Report. The study also highlights that the market is set to witness a CAGR of 14.80% during the forecast period from 2021 to 2026.
Aquaponics and hydroponics are alternate farming techniques in which plants are grown in a non-traditional way. Aquaponics is a food production system that couples aquaculture with hydroponics. In this system, the nutrient-rich aquaculture water is fed to the hydroponically grown plant, involving nitrifying bacteria for converting ammonia into nitrates. Hydroponics is a type of horticulture and a subset of hydroculture, which involves growing plants without soil using mineral nutrient solutions in an aqueous solvent.
USP of the Report
• This report covers major regions with an established aquaponic and hydroponic systems and equipment market.
• Porter’s Five Forces Analysis has been done for analyzing the competition in the aquaponic and hydroponic systems and equipment business. The five forces include threat of new entrants, bargaining power of suppliers, bargaining power of buyers, threat of substitutes, and intensity of competitive rivalry.
• Extensive competitive benchmarking of the top 17 players (including OEMs and equipment providers) has been done to offer a holistic view of the global aquaponic and hydroponic systems and equipment market landscape.
According to Rakhi Tanwar, Principal Analyst, CRI Report, “The aquaponic and hydroponic growing techniques have the capability of revolutionizing the global agricultural industry. Through these techniques, year-round food production can be done, and thus, agricultural production can be increased, and global food demand can be efficiently managed.”
Key companies operating in the market
Key players operating in the global aquaponic, and hydroponic systems and equipment market analyzed and profiled in the study involve original equipment manufacturers (OEMs) that provide the required equipment for achieving an aquaponic setup.
Moreover, a detailed competitive benchmarking of the players operating in the global aquaponic, and hydroponic systems and equipment market has been done that will help the reader to understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.
AMHYDRO,Aquaponic Lynx LLC, Argus Controls System Limited, BetterGrow Hydro, Colorado Aquaponics, ECF Farmsystems, Endless food systems, General Hydroponics, GreenTech Agro LLC, Hydrodynamics International, Hydrofarm LLC, LivinGreen, Nelson & Pade Aquaponics, Pegasus Agriculture, PentairAES, Perth Aquaponics, and UrbanFarmers AG
Market Segmentation of Global Aquaponic and Hydroponic Systems and Equipment Market
• Equipment: The aquaponic and hydroponic systems and equipment market is dominated by the HVAC system. HVAC systems are necessary for a complete aquaponics setup as plants in these systems always require constant monitoring and an adequate temperature. Depending upon the plant being grown in the system, heat and ventilation is maintained at all times.
• Technique: The global aquaponic and hydroponic systems and equipment market by technique category is dominated by nutrient film technique. This dominance is due to the high versatility of this technique used for growing plants. NFT is favored for its simple setup and ease of use with many popular garden plants such as lettuce and herbs. This method uses horizontal pipes with shallow streams of nutrient-rich water flowing through them.
• Region: Europe generated the highest revenue in 2020, which is attributed to the technological advancements in the Europe region. With high food safety and security concerns in the region, aquaponics and hydroponics in the region have offered a big solution to food safety and security concerns. This is because the plants grown with these techniques are grown in a controlled manner, and nutrient value is maintained throughout the production process. The region is expected to witness high growth in terms of CAGR during the forecast period.
Key Questions Answered in the Report
• What is the estimated global aquaponic and hydroponic systems and equipment market size in terms of revenue for the forecast period 2021-2026, and what is the expected compound annual growth rate (CAGR) during the forecast period 2021-2026?
• What are the key trends, market drivers, and opportunities in the market pertaining to aquaponic and hydroponic systems and equipment?
• What are the major restraints inhibiting the growth of the global aquaponic and hydroponic systems and equipment market?
• What kinds of new strategies are being adopted by the existing market players to expand their market position in the industry?
• What is the competitive strength of the key players in the aquaponic and hydroponic systems and equipment market based on an analysis of their recent developments, product offerings, and regional presence?
• How is the competitive benchmarking of the key aquaponic and hydroponic systems and equipment companies in the agriculture market based on the analysis of their market coverage and market potential?
• How much revenue is each segment expected to record during the forecast period, along with the growth percentage? The segments are as follows:
o Product, including equipment (HVAC, LED grow light, irrigation system, aeration system, and others) and technique (nutrient-film technique, deep-water culture technique, media-filled grow bed, ebb and flow system, and others)
o Application, including vegetables, herbs, fruits, fish, and others
o Region, including North America, the U.K., Europe, Asia-Pacific and Japan, China, the Middle East and Africa, and the Rest-of-the-World
• Which type of players and stakeholders are operating in the market ecosystem of aquaponic and hydroponic systems and equipment, and what is their significance in the global market?
• Which are the leading consortiums and associations in the global aquaponic and hydroponic systems and equipment market, and what are their roles in the market?
• How does the regulatory landscape differ in different regions for aquaponic and hydroponic systems and equipment?