The purpose of a greenhouse is to shield crops from excess cold or heat and unwanted pests. Greenhouse Equipment Market Size was worth USD 23.93 billion in 2019 and estimated to be growing at a CAGR of 8.7%, to reach USD 36.32 billion by 2024.
DRIVERS & RESTRAINTS OF THE MARKET:
The growth of the global greenhouse equipment market is mainly due to the increasing adoption of greenhouses, due to rapid technological innovation and the increase in disposable income of people willing to invest in agriculture.
Technological innovations have also helped reduce the costs of needed equipment, which helps to increase the feasibility of owning a greenhouse.
The promotion of greenhouse adoption technologies and the encouragement of governments are also drivers of market growth.
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REPORT SEGMENTED AS:
Based on Equipment:
Based on Type:
Other greenhouse glass
Polymethyl methacrylate (PMMA)
Based on Crop Type:
Fruits & vegetables
Flowers & ornamentals
Geographically, the Global Greenhouse Equipment Market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle-East & Africa. Europe is the market leader globally. Asia-Pacific and all the developing countries are expected to proliferate over the forecast period owing to increasing demand for greenhouse practices and government support.
KEY MARKET PLAYERS:
Richel Group SA
Argus Control Systems Ltd.
Agra Tech Inc
Rough Brothers Inc.
Hort Americas LLC
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THE SCOPE OF THE REPORT:
The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along with this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed, and the prospects with huge growth potential identified and debated.
The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis of prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.
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