The global climate-control agriculture market size reached USD 74.49 Billion in 2020 and is expected to register a revenue CAGR of 18.7%, during the forecast period, according to latest analysis by Emergen Research. Rising global demand for food as well as technological advancements in farming methods are some of the major factors driving global climate-control agriculture market revenue growth. Revenue growth of the market is also expected to be driven by rising demand for local and organically grown foods.
As technological advancements are increasing, emerging technologies are being steadily adopted by farmers in order to maximize crop yield. More advanced hydroponic lights have been invented in recent years, popularly known as grow lights (HID lights) that help in indoor gardening due to ability to supply the proper spectrum to crops, which is driving revenue growth of the global climate-control agriculture market.
The latest report is the first study encompassing the current climate control agriculture market situation with respect to the COVID-19 outbreak. Since the advent of the outbreak, the global economic landscape has been grappling with adverse financial consequences. The report analyzes the drastic impact of the pandemic on this business sphere. The pandemic has affected nearly all segments of the climate control agriculture market. It has further hampered the developmental scope of various manufacturers and buyers engaged in this sector. Thus, the report studies the ’s shifting dynamics to scrutinize the profits earned or loss suffered by different segments.
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Some Key Highlights From the Report
- Tomato segment revenue is expected to expand at a significantly rapid CAGR during the forecast period due to the wide range of uses of tomatoes and ability to be produced in large volumes. Fruits are eaten either raw or in a cooked form, and these contain vitamins such as A and C that are enriched with antioxidants.
- Aquaponics segment is expected to register a significantly robust revenue growth rate over the forecast period. Aquaponics is a process where both fish farming and hydroponics are taken into consideration. Aquaponics is also an efficient and environment-friendly method of cannabis cultivation. Crops grown hydroponically depend on nutrient-rich water that is removed from fish farming and this method entails around 90% less water than that used in traditional agriculture practices and methods. It is also estimated to enable 10-times higher yields per acre than soil-based farms.
- Europe is expected to account for a larger revenue share than other regional markets over the forecast period due to unfavorable weather conditions, limited arable land, and use of more advanced and innovative technologies that aid in production of crops in large proportions in countries in the region. Besides, presence of some major companies such as Fresh Box SP ZO.O and others is boosting growth of the climate-control agriculture market in the region.
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Furthermore, the report provides details about the new players entering the market, entry-level barriers and offers strategic recommendations to overcome those barriers to gain a substantial industry presence.
Key Players operating in the Climate Control Agriculture industry are:
Pentair Aquatic Eco-Systems, Inc., Everlight Electronics Co. Ltd., Illumitex Inc., Aerofarms AGX Ltd., American Hydroponics (Amhydro), Innovation Agri-Tech Group, Green Sense Environment Solution LLC., Fresh Box SP ZO. O, Grow Pod Solutions, LLC, and Nelson and Pade, Inc.
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Emergen Research has segmented the global climate-control agriculture on the basis of crop, growing method, components, and region:
- Crop Outlook (Revenue, USD Billion; 2018–2028)
- Lettuce Leafy Greens
- Growing Method Outlook (Revenue, USD Billion; 2018–2028)
- Components Outlook (Revenue, USD Billion; 2018–2028)
- Growing media
The Global Climate Control Agriculture Market is further analyzed across the key geographical locations where the market has expanded to a significant size. The key region analyzed are North America, Latin America, Europe, Asia Pacific, and Middle East Africa. The report offers a country-wise analysis to provide a comprehensive analysis of the Climate Control Agriculture market in terms of production and consumption patterns, supply and demand ratio, import/export, revenue contribution, trends, and presence of prominent players in each region.
Regional Analysis Covers:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The all-inclusive report on the Global Climate Control Agriculture Market added by Emergen Research demonstrates that the global Climate Control Agriculture market is presumed to grow at a steady CAGR throughout the forecast timeline. The report analyzed the key market drivers, restraints, growth opportunities, investment opportunities, threats, and limitations of the Climate Control Agriculture market. The report also offers accurate forecast estimation at a global and regional level to impart a better understanding of the scope of the market.
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Radical Features of the Climate Control Agriculture Market Report:
- The report encompasses Climate Control Agriculture market overview along with market share, demand and supply ratio, production and consumption patterns, supply chain analysis, and other ley elements
- An in-depth analysis of the different approaches and procedures undertaken by the key players to conduct business efficiently
- Offers insights into production and manufacturing value, products and services offered in the market, and fruitful information about investment strategies
- Supply chain analysis along with technological advancements offered in the report
- The report covers extensive analysis of the trends, drivers, restraints, limitations, threats, and growth opportunities in the Climate Control Agriculture industry
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