Agriculture & Forestry Industry Market News

North America's hydroponics market estimated to grow at a CAGR of 17.3% during 2016 to 2021 explored in latest research

Hydroponics is a part of hydroculture, the technique for developing plants without soil, utilizing mineral nutrient solutions in a water solvent. Hydroponics allows you to grow any plant regardless of climate and conditions by supplying them sufficient nutrients.

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According to the report “North America Hydroponics Market By Equipment (HVAC, LED Grow Light, Communication Technology, Irrigation Systems, Material Handling, Control Systems & Others), By Type (Aggregate (Closed Systems (The Water Culture System, The EBB And Flow System, Drip Systems, And The Wick System), Open Systems) & Liquid (Nutrient Film Technique (NFT), Floating Hydroponics, And Aeroponics)), By Crop Type (Tomato, Lettuce & Leafy Vegetables, Cucumber, Pepper & Strawberry), & By Input Type (Nutrients, Growth Medium), And By Region – Industry Analysis, Share, Size, Growth, Trends, And Forecasts (2016-2021)” published by Market Data Forecast, the North America Hydroponics Market was estimated to be USD 42.46 million in 2016 and is predicted to reach USD 94.29 million by 2021 with a CAGR of 17.3 %.

The supplements in hydroponics can be from fish waste, duck compost, or ordinary supplements.

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One of the important drivers is that hydroponics gives higher yield compared with conventional agricultural techniques. It additionally gives farmers the capacity to develop crops in regions that can't support crops in soil.

Moreover, hydroponics removes the use of counterfeit maturing operators and pesticides, which helps in making nutritiously superior vegetable items. Lack of awareness about the hydroponic agriculture system and high investment are some of the factors restraining the market growth to an extent.

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North America Hydroponics Market is segmented based on Equipment, Type, Crop Type and Input Type. Based on Equipment, the market is segmented into HVAC, LED Grow Light, Communication Technology, Irrigation Systems, Material Handling, and Control Systems.

Based on Type, the market is segmented into Aggregate & Liquid. Based on Crop Type, the market is further segmented into Tomato, Lettuce & Leafy Vegetables, Cucumber, Pepper & Strawberry.

Based on Input type, the market is further segmented into Nutrients, Growth Medium. On the basis of Aggregate hydroponics systems, the market is further segmented into Closed Systems, Open Systems.

Based on Liquid Hydroponic systems, the market is segmented into Nutrient Film Technique (NFT), Floating Hydroponics, and Aeroponics.

On the basis of Closed systems, the market is further segmented into The Water Culture System, The EBB and Flow System, Drip Systems, and The Wick System. HVAC has the largest market share, followed by LED grow lights, in 2014.

HVAC is dominating the market as heating, ventilation, and air-conditioning are the major elements required to create a controlled environment for hydroponic cultivation.

Geographically, the market is further segmented into US and Canada. North America is the second largest market and fastest growing region in the world owing to its advanced agricultural techniques, the strong presence of major players and increasing Demand for Healthy food.

Major Players dominating the North America Hydroponics Market are Argus Control Systems, Koninklijke Philips NV, Greentech Agro LLC, Logiqs B.V., and Lumigrow, Inc.

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