According to a new market report by Lucintel, the future of the hydroponic market looks promising with opportunities in the agriculture sector. The hydroponic market is expected to grow with a CAGR of 17% from 2019 to 2024. The major growth driver for this market are increase in the demand of exotic, and salad crops and higher yields than traditional soil-based agriculture.
In this market, aggregate hydroponic (closed systems and open systems) and liquid hydroponic systems are the major techniques used to cultivate vegetables. Liquid hydroponic system is the major technique used in hydroponics. HVAC, LED grow light, communication technology, irrigation systems, material handling, and control systems are the major equipment used in hydroponic systems.
Europe is expected to remain the largest market over the forecast period due to the advancement in greenhouse farming.
American Hydroponics, LumiGrow, Aerofarms, Terra Tech Corp, Hydroponic Farms, Triton Foodworks Ltd., Urban cultivator, Village Farms, Green Sense Holdings, and Iron Ox are among the major hydroponic companies.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the hydroponic market by equipment, technique, and region. Lucintel has prepared a comprehensive research report entitled " Hydroponic Market 2019-2024: Trends, Forecast, and Opportunity Analysis". This Lucintel report serves as a catalyst for growth strategies, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the hydroponic market by equipment, technique, and region as follows:
By Technique [$M shipment analysis for 2013 – 2024]:
• Aggregate Hydroponic System
o Closed Systems
o Open Systems
• Liquid Hydroponic Systems
By Equipment [$M shipment analysis for 2013 – 2024]:
• HVAC
• LED Grow Light
• Communication Technology
• Irrigation Systems
• Material Handling
• Control Systems
• Other Equipment
By Region [$M shipment analysis for 2013 – 2024]:
• North America
o US
o Canada
o Mexico
• Europe
• Asia Pacific
o China
o Japan
o India
o Australia
• ROW
o South America
o Middle East and South Africa




More than 150 page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link …[email protected].
About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers the following 11 key questions:
Q.1 What are some of the most promising potential, high-growth opportunities for the hydroponic market by equipment (HVAC, led grow light, communication technology, irrigation systems, material handling, control systems, and other equipment), technique (aggregate hydroponic system and open systems), and region (North America, Europe, Asia Pacific, and ROW)?
Q.2.Which segments will grow at a faster pace and why?
Q.3.Which regions will grow at a faster pace and why?
Q.4.What are the key factors affecting market dynamics? What are the drivers and challenges of the hydroponics market?
Q.5.What are the business risks and threats to the hydroponic market?
Q.6.What are emerging trends in the hydroponic market and the reasons behind them?
Q.7.What are some changing demands of customers in the hydroponic market?
Q.8.What are the new developments in the hydroponic market? Which companies are leading these developments?
Q.9.Who are the major players in the hydroponic market? What strategic initiatives are being implemented by key players for business growth?
Q.10.What are some of the competitive products and processes in the hydroponic market, and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11.What M & A activities took place in the last five years in this hydroponic market?