The report segments the global hydroponics technologies market by technology (material handling systems, farm management systems, grow lights, and environment and climate control systems) and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global hydroponics technologies market, according to Technavio researchers:
- Need for reduction in soil and water pollution: a major market driver
- Launch of energy-efficient LED grow lights: emerging market trend
- EMEA held the largest share of the global hydroponics technologies, contributing to around 38% of the market share in 2017
- In 2017, the environment and climate control systems sector held the largest share of the market
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Need for reduction in soil and water pollution: a major market driver
The need for reduction in soil and water pollution is one of the major factors driving the global hydroponics technologies market. In land farming, the chemicals such as fertilizers, pesticides, and insecticides are used to increase the yield rates substantially. This causes soil and water pollution. The chemicals such as pesticides accumulate in soil and alter microbial processes, increasing the plants’ uptake of chemicals. This leads to higher toxicity in plants, which can affect soil organisms, animals, and humans that consume such plants.
According to a senior analyst at Technavio for research on agricultural equipment, “The use of hydroponic technologies in farming significantly reduces the overuse of fertilizers, insecticide, fungicides, and pesticides, thereby decreasing water and soil pollution. In addition, recycling hydroponics technologies use only 10% of water compared with traditional hydroponic systems. Therefore, the need to reduce soil and water pollution will drive the demand for hydroponic technologies.”
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Launch of energy-efficient LED grow lights: emerging market trend
Grow LED is vital for plant growth and higher yield rates among many equipment used in farming under hydroponic technologies. This is because the plants in indoor farming are not exposed to sunlight and depend on LED grow lights. In such case, running multiple LED grow lights can lead to high power consumption costs. Therefore, vendors are developing energy-efficient LED grow lights that may have a positive impact on the growth of the market.
Global market opportunities
In terms of regional dominance, EMEA held the largest share of the global hydroponics technologies market, contributing to around 38% of the market share in 2017. The farmers in the region use more than 50% of the land area that increases the preference for hydroponics technologies. The factor such as loss of biodiversity and soil erosion are contributing towards market growth.
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